Namibia's main money pot has grown since last year. The government started its Welwitschia Sovereign Wealth Fund with N$262 million in May 2022. This special savings account reached N$450 million when officials checked it this January. President Nandi-Ndaitwah shared these numbers during her first big speech to lawmakers. She talked about this success on Thursday when she addressed the National Assembly.
The president wants this fund to help future Namibians live better lives. Officials created it to save money for people who come after us. They hope the cash will keep growing over time as more money goes into the account. The fund helps ensure natural resources benefit everyone later on. Many countries use similar plans to save extra cash from selling oil or minerals.
Leaders plan to keep adding money as the nation earns more from business deals. The fund lets the government save instead of spending everything right away. They call it Welwitschia after a famous plant that lives for hundreds of years in Namibia. This long-living plant name fits because the fund should last for generations, just like the plant does. The president sees this as an important step toward making the country stronger.
The president wants this fund to help future Namibians live better lives. Officials created it to save money for people who come after us. They hope the cash will keep growing over time as more money goes into the account. The fund helps ensure natural resources benefit everyone later on. Many countries use similar plans to save extra cash from selling oil or minerals.
Leaders plan to keep adding money as the nation earns more from business deals. The fund lets the government save instead of spending everything right away. They call it Welwitschia after a famous plant that lives for hundreds of years in Namibia. This long-living plant name fits because the fund should last for generations, just like the plant does. The president sees this as an important step toward making the country stronger.
