Namibia announces $450m stimulus package to tackle COVID-19

Namibia Finance Minsiter Ipumbu Shiimi
Namibia Finance Minsiter Ipumbu Shiimi

Namibia has availed about 450 million dollars (8.1 billion Namibian dollars) stimulus and relief package geared at addressing the negative effects arising from the first 21-day lockdown period, officials said on Wednesday.

While addressing the media, Finance Minister Ipumbu Shiimhi, said the package was directed at formal and informal businesses in sectors which are directly affected by the lockdown measures as well as households.

“To avoid further retrenchments in the hardest-hit sectors, government will provide a wage subsidy to aid businesses in keeping employees on board in the tourism, travel and aviation and construction sectors.

“Details will vary between sectors,” Shiimi said.

According to the minister, part of the money will also cater for related labour market aspects such as job retention to mitigate the negative impact on income and provide for the basic amenities for households such as potable water.

Namibia has so far recorded 13 COVID-19 cases.