Namibia on Tuesday launched a Social Accounting Matrix (SAM), aiming to understand and advance the intricate dynamics of the country’s socioeconomic landscape.
The SAM Model, developed with the support of the International Labor Organization (ILO) and the Namibia Statistics Agency (NSA), provides a comprehensive framework for analyzing economic sector relationships and facilitating trade and tax.
NSA statistician-general Alex Shimuafeni said in a statement at the launch that the initiative is a comprehensive and detailed accounting framework that captures the inter-relationships among different sectors of an economy and various social groups.
“This tool provides a systematic way to organize and analyze economic and social data, offering valuable insights into the complex interactions within a society,” he said, adding that through the SAM, they can gain a clearer lens to examine the impact of policies, investments, and societal changes on the communities.
Namibia’s Ministry of Labor, Industrial Relations and Employment Creation underscored the model’s significance in assessing employment impacts for ongoing and upcoming projects and in project assessments and policy decision-making.