Nasria pumps N$25m into regional development

The Namibia Special Risks Insurance Association (Nasria) has committed N$25 million to development projects across all 14 regions of Namibia to support economic activity and improve livelihoods.

The contribution was handed over to the Regional Governors yesterday at a ceremony attended by Prime Minister Elijah Ngurare and Finance Minister Ericah Shafudah.

Receiving the funds on behalf of the government, Ngurare thanked Nasria for supporting regional development and working with the government to address communities’ needs.

“Development plans matter only when they produce visible improvements in people’s lives,” Ngurare said.

He said development initiatives should focus on generating real economic value and improving the lives of ordinary Namibians.

The funds will support productive projects identified by the regions. Regional governors have been encouraged to prioritise initiatives that address local challenges and deliver lasting benefits for communities.

Nasria said the contribution is expected to support businesses, create employment opportunities, strengthen livelihoods, improve infrastructure and encourage investment in regional economies.

Ngurare said the government cannot meet all development needs alone and called for more partnerships between the government, private sector institutions and other stakeholders.

“Public resources are limited, and the government cannot carry the full burden of development alone. We need partnerships and the participation of all stakeholders,” he said.

He added that Nasria’s contribution shows how institutions within Namibia’s financial sector can support national development goals.

The initiative is aligned with Namibia’s Sixth National Development Plan, which aims to promote a more diversified and inclusive economy.

Nasria Managing Director Jaco Uusiku said the contribution demonstrates the organisation’s commitment to supporting communities and creating opportunities for Namibians.

He said while the needs of each region may differ, the focus remains on supporting projects that unlock economic opportunities and improve people’s lives.

The contribution comes as Government continues to encourage partnerships with different stakeholders to support economic growth and development across the country.

-newsroom@nepc.com.na

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