He (Namibian Prime Minister Nahas Angula) asked for N$1,2 million for the final formalisation of the New Equitable Economic Empowerment Framework (Neeef) legislation, which is considered as the new broad-based voluntary business practice envisaged to bring about a more equitable economy and balance of ownership from 2011 to 2036.
Once in place, the Neeef law will supersede all other transformation and empowerment policies.
“There is no doubt that the implementation of this programme will give hope to the hitherto excluded majority,” commented Angula.
Namibia is making more progress with its NEEEF policy. It looks like they are taking this one quite seriously. I hope that the final product is somewhat different to the mooted one. This also means that TESEF is most likely going to come to an end.