Windhoek: Prime Minister Elijah Ngurare has called for a more humane and inclusive financial system, urging the Bank of Namibia and financial institutions to place people's livelihoods at the centre of decision-making. Ngurare made the remarks during an engagement with the Bank of Namibia's leadership and staff in Windhoek on Wednesday, where he described the central bank as a key institution in shaping the country's economic future.

According to Namibia Press Agency, Ngurare emphasized that the Bank of Namibia is not merely a place where policy decisions are made, but an institution where trust is held and the future of the economy is shaped. While acknowledging the bank's critical role in maintaining financial stability, he advocated for greater attention to the social impact of financial decisions, particularly in cases involving home repossessions.

He suggested that financial institutions should consider alternatives when homeowners default after years of repayment, proposing mechanisms that would allow them to recover part of their investment. Ngurare stressed the need for a conversation that prioritizes humanity, recognizing the human aspect of those facing repossession.

Ngurare also addressed concerns over access to housing finance, questioning why repayment models used for vehicles could not be adapted for housing. He emphasized the need for engagement among the central bank, financial institutions, and lawmakers to identify sustainable solutions.

The prime minister highlighted the importance of strong and forward-looking institutions in achieving Namibia's development goals under the Sixth National Development Plan. He underscored that the true measure of progress lies in the extent to which institutions improve livelihoods, restore dignity, and expand opportunities for all Namibians.

Ngurare commended the Bank of Namibia for embracing innovation, youth empowerment, and professionalism, noting that these efforts are vital to building a resilient and inclusive economy. He concluded by emphasizing the importance of unity and collaboration across sectors, urging Namibians to work together to advance sustainable national development.