Staff Reporter
ERASTUS Uutoni, the Minister of Urban and Rural Development, officially inaugurated the 24th Annual Symposium hosted by the Bank of Namibia in Windhoek.
The event, themed “Transformation of the Rural Economy in Namibia,” gathered prominent policymakers, academics, lawmakers, and economic development stakeholders.
According to Uutoni, the primary objective is to bring these experts together to address critical economic policy issues related to rural development and transformation in Namibia. Uutoni emphasized that rural development encompasses a broad spectrum of concerns and that achieving a transformed rural economy requires a comprehensive approach involving political, socio-economic, and cultural processes to ensure the sustainable diversification of livelihood activities for rural communities while upholding social equity.
He further highlighted the necessity of reducing heavy reliance on agriculture and increasing rural income from alternative economic sources. Namibia’s rural economy has traditionally been characterized by agriculture, but this sector faces growing domestic competition from urban areas for labour, land, and water resources.
“There is a need to reduce heavy reliance on agriculture and increase rural income from other economic streams. Namibia’s rural economy is mainly characterized by agriculture. However, the agricultural sector faces growing domestic competition from the urban areas for labour, land, and water,” Uutoni remarked.
This annual event reaffirms the commitment of the Namibian government and its partners to fostering sustainable rural development and broadening economic opportunities for rural communities. As policymakers, academics, and industry experts converge to share their insights and expertise, the 24th Annual Symposium on Rural Economy Transformation promises to be a pivotal step toward a more diverse and resilient rural economy in Namibia.
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