STRATEGIES FOR A SOVEREIGN WEALTH FUND AND EMPOWERMENT FUND IN NAMIBIA

The scarcity of inward-looking investment funding in Africa restrains economic growth and development on the continent. This deficiency ignited a greater appetite for debt and reliance on outside funds at uncontrollable levels. The weight of this pressure from debt hinders the focus of domestic policies to solve this inequality in a speedy manner. Above all, the current monetary instability does not encourage the efficient execution of various development goals.Thus, there is an urgent need for economic interjection to apply effective and empirical mechanisms to overcome these challenges.Namibia needs a Sovereign Wealth Fund and National Empowerment Fund to claim its vantage position to execute its development strategies. The country must discover value-adding mechanisms to boost the potential of its limited resources through research and innovation.