Namibia is expected to craft a plan to digitise and streamline the property acquisition process in the country.
The move was agreed upon by stakeholders in the country’s property sector, at a Bank of Namibia (BoN) workshop.
The workshop was attended by participants from the Office of the Prime Minister, the Ministry of Agriculture, Water and Land Reform, the Namibia Revenue Agency, the City of Windhoek, various banking institutions, the Economics Association of Namibia, the Development Bank of Namibia, and the Ministry of Finance and Public Enterprises and aimed at addressing systemic inefficiencies within the property acquisition process.
The move, according to the Bank of Namibia, is expected to leverage technology to revolutionise the sector, maximising efficiency, reducing costs, and improving turnaround times.
“A comprehensive study conducted by the Bank underscored the urgency for structural reforms and the allocation of resources to drive meaningful change,†the bank said.
BoN said the workshop catalysed meaningful collaboration, laying the groundwork for a transformative shift toward a more efficient and accessible property registration system, poised to benefit all Namibians.
“Given the significant roles played by all stakeholders, it is imperative that we come together as a nation to identify solutions and to carve out a collective path forward. The objectives outlined during this workshop are pivotal milestones towards streamlining the process and enhancing efficiency and accessibility for all Namibians seeking to secure a place to call home,†BoN Deputy Governor Leonie Dunn said.
