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Pohamba calls on foreign firms to invest in Namibia's infrastructure development

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March 15
8:37 AM 2014

President Hifikepunye Pohamba has urged foreign firms conducting business in Namibia to help the country improve its economy by investing in its infrastructure development, according to All Africa.

The president made the statement during the inauguration of the Keetmanshoop Old Mutual Retail Centre which is worth NAD$92 million. He lauded Old Mutual for its contribution to the country's economy. He also mentioned foreign commercial banks that do not help Namibia uplift its economy, the report stated.

Pohamba said: "Isn't it shameful that others (foreign companies) fly out money from the country... I only respect those who invest in the country's infrastructure development... FNB has taken the lead, shame on others. Now, FNB is putting up a huge building opposite Kalahari Sands Hotel (in Windhoek)."

The newly inaugurated Keetmanshoop retail center has already produced 100 permanent jobs in Karas. Because of this investment, residents do not need to travel far in order to buy necessities, All Africa reported.

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