The Economic Association has just received funding from an institutional supporter to help it develop capacity and to cover administrative costs.
The association's chairperson, Rowland Brown said most of their funding goes to specific projects leaving very little for growing their structure. "Despite the lean cost structure of the association, we face continuous challenges with regards to operational expenses. It is against this background that [the Economic Association] approached Bank Windhoek for assistance," he said.
The bank responded positively, committing again for another year to cover the association's core functions so that it can operate efficiently as an independent Non-Governmental Organisation that provides crucial input on analysis, policy, public education, research and mentoring. Bank Windhoek has supported the association since its inception.
"Bank Windhoek has been the largest contributor to date. It is great to see that a wholly-owned Namibian financial institution believes in what we do. This sponsorship will in the end help to develop and fine tune local discourse on critical socio-economic topics, ultimately to promote economic development and improve the lives of Namibian people," said Brown.
Since it was founded five years ago, the association has played an important role in bringing together public, quasi-public and private sector players to discuss issues of critical importance for the Namibian economy and people, as well as playing a key role in policy development.
The bank's Head of Corporate Affairs, Hayley Allen confirmed their high view of the association's work, stating that their support contributes to overall economic development.