Popular Democratic Movement (PDM) parliamentarian Nico Smit last week tabled a motion to establish a committee to investigate if the Bank of Namibia (BoN) is able to relax capital requirements for local financial institutions. In the same motion, Smit suggested the committee must investigate bridging finance for financial institution clients already in distress.
According to Smit, these interventions are desperately needed to support the recovery of the Namibian economy with a much-needed kick start. "Also, the National Assembly should deal with this motion in the appropriate manner to ensure that this committee is established at the earliest date possible as a matter of urgency," he stated.
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