INVEST IN NAMIBIA

INVEST IN NAMIBIA 2023-04-12T10:42:20+00:00

Introducing Namibia

Namibia is ranked amongst the world’s most politically stable countries. The Namibian government is committed to stimulating economic growth and employment through the attraction and retention of investments.

Namibia is strategically located on the southwestern coast of Africa and serves as a quintessential trade conduit with the rest of the world for landlocked neighbouring countries such as Botswana, Zambia, Zimbabwe and the Democratic Republic of Congo through the port of Walvis Bay. Compared to other ports in the region, the congestion-free port of Walvis Bay offers shipping lines time savings of up to five days to Europe and the Americas, and is a springboard into the Southern African Development Community (SADC) trade block, with a market access of 330 million people.

Namibia is endowed with natural wind and sun resources, and is considered to be amongst the most competitive (solar and wind energy) destinations in the world with the potential to become a producer and exporter of green hydrogen, reckoned to catalyse the decarbonisation of the planet.

Namibia’s primary infrastructure is well-developed and modern, with the road infrastructure quality ranked the best in Africa, an efficient communication system with global cellular networks and globally competitive broadband, as well as a sophisticated financial sector. The economy is mostly export-driven, with mining, tourism, fishing and agriculture being Namibia’s key sectors.

Economy

Rate

N$1=US$15.9806 (16 May 2022, Bank of Namibia)

Trade Agreements

  • African Continental Free Trade Area (AfCFTA)
  • African Growth and Opportunity Act (AGOA)
  • Namibia-Zimbabwe Preferential Trade Agreement
  • Southern African Customs Union (SACU)
  • Southern African Customs Union (SACU) – European
  • Free Trade Association (EFTA)
  • Southern African Customs Union (SACU) –
  • Common Market of the South (MERCOSUR)
  • SACU – Mozambique – United Kingdom (UK) Economic
  • Partnership Agreement (EPA)
  • Southern African Development Community (SADC)
  • Southern African Development Community (SADC) – EuropeanUnion (EU) Economic Partnership Agreement (EPA)
  • World Trade Organisation (WTO)

Investment Climate

The Namibia Investment Promotion and Development Board (NIPDB) serves as the first-point contact for potential investors and provides comprehensive services from the initial consulting stage to the operational stage. The NIPDB also provides general information and advice on investment opportunities, incentives and procedures.The task of the NIPDB is to help investors reduce red tape by liaising with government departments and regulatory agencies, including obtaining work visas for foreign investors. The government of Namibia, therefore, welcomes and encourages foreign investment to help develop the national economy for the benefit of the people.

Rankings

  • 2nd in Africa, World Press Freedom Index – Reporters Without Borders (2022)1st in Africa for the past five years, Quality and Connectivity of Road Infrastructure, Global Competitiveness Report – World Economic Forum (2019)
  • 1st in Africa (6th globally), Global Gender Gap – World Economic Forum (2021)
  • 6th in Africa, Corruption Perception Index – Transparency International (2021)
  • 7th in Africa, Good Governance – Mo Ibrahim Foundation (2020)
  • Top 10 in Africa, Investment Attractiveness Index, Annual Survey of Mining Companies – Franser Institute (2021)
Fraser Institute Annual Survey of Mining Companies Ranking, 2021

Policy Environment

Namibia’s foreign investment policy is governed by the Foreign Investment Act No. (27 of 1990 – FIA). The aim of the Act is to address and stimulate foreign investment in Namibia. The Namibia Investment Promotion Act (NIPA) is currently under review and will replace the FIA.