The Namibia Special Risks Insurance Association (NASRIA) has donated N$25 million to the Office of the Prime Minister to support economic development initiatives across the country's 14 regions.
The funds will be distributed equally among the regional governors' offices and used to support economic activities.
NASRIA Board Chairperson Adrianus Vugs said the contribution is a way for the association to give back to communities and invest in the stability that enables its business to thrive.
"It is important for us to do our part as far as giving back to the community is concerned and to at least seed regional economic development. So that is really our fundamental reason for giving funding to the different regions, to the governor's offices."
Speaking on behalf of Prime Minister Elijah Ngurare, Finance Minister Erica Shafudah said governors have been entrusted with significant responsibility for addressing the social and economic needs of their respective regions but require adequate resources to fulfil their mandate.
She said the government intends to engage other state-owned enterprises and private-sector entities to strengthen the capacity of regional governors.
"We are going to assess the impact of this money in each one of the regions. And of course, that will encourage us to mobilise more for the regional governors' offices in the name of the Namibian people."
The Chairperson of the Regional Governors Forum, Sacky Kathindi, described the donation as a significant gesture of support towards the work of regional governors and their efforts to drive development within their respective regions.
He said the governors have already identified priority areas where the funds can make an impact.
"Governors did profile the regions. They know what the challenges are and what the opportunities are, and we have already earmarked the priorities. So this money will be put to good use to address those challenges that are facing our people."
Kathindi further called on other state-owned enterprises to follow NASRIA's example, saying greater collaboration between institutions can strengthen regional development and improve the lives of communities.