Namibian CFO Report 2018/19
Navigating the downturn
The Financial Directors and Chief Financial Officers (CFOs) surveyed in this report have certainly felt the impact of the economic recession that Namibia has experienced over the past two years. The sentiment emanating from this survey generally seems to be one of concern, on whether or not policymakers can implement effective initiatives that could stimulate the Namibian economy towards growth.
We at Deloitte are proud to publish the first edition of the Namibia CFO survey report and we hope to contribute to the discourse, provide insights into the current sentiment of Namibian CFOs and that of their organisations and bring together the private and public sector to tackle Namibia’s challenges.
The results of the CFO survey indicate that the current economic climate in Namibia has influenced what Namibian CFOs are prioritising, focusing on and dedicating resources to. The low growth environment is seeing more and more CFOs and their organisations looking at cost optimisation strategies and improving internal efficiencies.
Namibia’s policymakers face challenges from all angles and it will be interesting to witness and be part of the initiatives they implement to address some of these challenges. The Namibian Government will eventually have to deal with bubbling issues and develop policies that earnestly address high youth unemployment, growing inequality levels and transformation. All this needs to be done with the Government being at its highest levels of indebtedness since independence, reforming policies to encourage investment and increasing Namibia’s attractiveness to foreign capital and increased deployment of capital by Namibian firms.
The world is dealing with the fourth industrial revolution and the challenges and opportunities it will pose as well as climate change. It will be interesting to see how the Government’s initiatives to industrialise the Namibian economy plays in a world that is ever increasingly global in everything including competition.
We hope the survey delivers useful insights and information to our valued clients and readers. As an integrated African firm, we are committed to providing CFOs with information and support that will give them the edge when it comes to making informed decisions and addressing thorny issues in their daily work lives.