NORED holds Public Infrustructure Funding conference at Rundu

A two day Public Infrastructure Funding conference organised by the Northern Regional Electricity Distribution Company (NORED) started here on Tuesday.

The conference which will end on Wednesday is aimed at gathering representatives from the private sector, financial institutions, and government to discuss financial solutions to unlock private investment in electricity infrastructure within NORED's area of operation.

The theme of the conference is 'Enhance and sustain socio-economic development through an accelerated public infrastructure investment intervention.'

The Minister of Urban and Rural Development PeyaMushelenga in his keynote address read by the Governor of the Kavango East Region Samuel Mbambo said infrastructure is a catalyst and backbone for development.

It is a lever to stimulate economic activity and to raise the standard of living in any community. We all must appreciate that infrastructure makes an important contribution to national productivity, the minister said.

Mushelenga said the government is committed to promoting the development of the country and the Southern Africa Development Community (SADC) region as a whole.

He said government acknowledges that the fiscus will not be able to address all needs on its own and has therefore called for public-private partnerships to enhance service delivery.

The minister said the creation of a capital revolving fund could be the necessary investment vehicle for accelerated public infrastructure development.

The consolidation of the monthly surcharges into a single fund speaks to this ideal. The Harambee Action Plan and other national development plans can only be realised if we all work together towards the common objectives, Mushelenga said.

NORED he pointed out has made significant progress on delivery and in investing in electricity infrastructures such as in many capital and electrification projects in peri-urban communities and growth points.

Institutions such as Bank Windhoek, Standard Bank, First National Bank, Hangala Prescient, Development Bank of Namibia and the Old Mutual Investment Group have been invited to make presentations during the conference.

Source: Namibia Press Agency