By Michel Haoses.

The Bank of Namibia (BoN) hosted a workshop on Monday to address the multifaceted challenges hindering property acquisition nationwide.

The workshop was attended by representatives from the Office of the Prime Minister, the Economics Association of Namibia, the Ministry of Agriculture, Water and Land Reform, the Namibia Revenue Agency, the City of Windhoek, the Ministry of Finance and Public Enterprises, and various institutions.

According to a study the Bank conducted which highlighted the urgency for structural reforms and allocation of resources, the Bank acting as an economic advisor and bank regulator felt the pressing need to address systemic inefficiencies within the property acquisition process.

Moreover, it became evident that collaborative efforts are essential in identifying solutions and enhancing the efficiency and accessibility of property acquisition as participants delved into the indispensable roles played by various stakeholders.

Additionally, the workshop served as a platform for fostering partnerships and nurturing innovation as attendees got to share experiences, and insights, share best practices, and engage in constructive dialogue to shape a more robust and inclusive property registration framework.

In a move to modernisation the Bank and industry participants agreed to formulate a comprehensive plan to strive for the digitalising and streamlining of the housing acquisition process.

Finally, the Bank of Namibia extended appreciation to all participants for their commitment to addressing this critical issue and the workshop catalyzed meaningful collaboration, laying the groundwork for a transformative shift toward a more efficient and accessible property registration system.

Deputy Governor of the BoN, Leonie Dunn commented “Given the significant roles played by all stakeholders, we must come together as a nation to identify solutions and to curve a collective path forward”, she further continued by emphasising how the objectives outlined in the workshop are milestones toward enhancing housing accessibility for all Namibians.