Tsumeb advised to diversify its economy

Tsumeb-For Tsumeb's economy to grow and create employment opportunities, it has to diversify its economic activities through venturing into tourism, agriculture and supporting small and medium enterprises (SMEs) as well as setting an investment package to avoid turning away potential investors, a well-know businessman has said.

Businessman Martin Shipanga, who is the executive director of Shipanga Holdings, said tourism was one of the industries that could create many jobs as well as help the town penetrate the agricultural market by encouraging farmers surrounding Tsumeb to spend and invest more locally rather than keeping the bulk of the proceeds on farms.

Most of growing economies are not a result of big businesses but rather grassroots contribution of SMEs. Therefore, you should support SMEs by putting programmes in place and encourage them to partner with investors so that they can be nurtured, stressed Shipanga at the copper festival gala dinner held over the weekend in Tsumeb.

The festival will be held under the theme, Copper � aspiring a better tomorrow from 31 October to 4 November 4. Over 300 exhibitors are expected. A total N$455 000 was pledged at the gala dinner down N$40 000 on last year's figure, although this years' gala sold more tables. The amount is likely to go up as more sponsors are coming on board.

Dundee Precious Metals was the main sponsor with N$180 000 followed by Tsumeb Municipality with N$100 000 and Standard bank, which forked N$80 000.

Entrepreneurs are a very sensitive species, Shipanga said � equating them to girls, who he said know exactly when to say 'Yes' or 'No'. He, therefore, urged leaders to be specific when making their investment packages.

It is impossible for Tsumeb to achieve this alone without government. Thus I urge you all to study the National Development Plans set up so that you know where government intends to spend money or invest. This in return guides you to know how you will spend and make necessary investment decisions, he advised.

Source: New Era Newspaper Namibia