Shiimi Raps NIDA Over Knuckles For N$3 Billion Non-Performing Assets

 

By: Uaueza Kanguatjivi, David Shoombe

 

Finance Minister Iipumbu Shiimi has urged the Namibia Industrial Development Agency (NIDA) to use its N$3 billion worth of assets to drive sustainable growth.

This comes after the entity reported a N$102 million loss in 2024 after launching its first annual report in six years of existence.

“If the agency has N$3 billion worth of assets, they must work. A cash flow problem cannot be the reason for assets to not be generating enough cash. All assets must be able to generate cash,” Shiimi said.