The Ministry of Public Enterprises has now officially been dissolved and will now operate as a Department in the Ministry of Finance, which will now be known as the Ministry of Finance and Public Enterprises following the publishing of a government gazette on Thursday.
Finance Minister Ipumbu Shiimi and his Deputy, Maureen Hinda-Mbuende, remain in charge of the renamed ministry.
The latest development comes after Cabinet last year approved the transformation of the Ministry of Public Enterprises into the Department of Public Enterprises under the Ministry of Finance.
The move was recommended by the High-Level Panel on the Namibian Economy and endorsed by Cabinet as one of the approved recommendations.
The Ministry of Public Enterprises was established in 2015 and among some of its reforms was the introduction of the Hybrid Governance Model and the Public Enterprises Governance Act, clearly separated the role of the State as policy formulator, regulator and operator by centralising the ownership of the Commercial Public Enterprises under the Ministry of Public Enterprises while Non-Commercial Public Enterprises resorted under the various Line Ministries and Extra-Budgetary Funds under the Ministry of Finance.
The Ministry of Public Enterprises oversaw the functions and responsibilities of 98 parastatals.
