The Namibian government has finalised the formulation of the legislation for the establishment of Public-Private Partnerships (PPPs) in the country and it is due for tabling in Parliament soon, says Finance Minister Calle Schlettwein.

Speaking during a panel discussion at the Invest in Namibia conference here Wednesday, he said the government had made steady progress towards the PPP agenda and the National PPP Policy was approved in 2012 when commenting on the PPP framework which aims to explore avenues to build mutually beneficial partnerships for sustainable growth.

The overarching objective of the PPP legislation is to ensure that Namibia targets best practices during all phases of a PPP project's development cycle. The Minister explained that the legislation proposes a sequence of reviews to be made and a PPP Committee to be set up to provide corresponding approvals.

"For instance, at the first transaction approval at the feasibility stage, the review shall assess if the planned project is likely to provide positive value for money; if the project is likely to be affordable -- both to the end consumers and to the government; and if the project is likely to generate sufficient returns for a private sector investor," he explained.

The minister said only if such conditions were satisfied at the feasibility assessment stage, would the relevant project be allowed to proceed to the procurement phase.

He said the PPP unit under his ministry was facilitating a number of capacity development initiatives, which is done through a combination of structured training programmes and knowledge sharing discussions with both public and private sector stakeholders.

The government has attempted to emphasise that core principles of value for money, affordability, and competitive procurement must be adhered to, to ensure PPPs are successful and are in public interest.

:We also frequently provide feedback in cases where PPPs may not be a suitable mode of project development," he stressed.