JCCI BUSINESS FOCUS
"Growing your Business is our Business"


JCCI News


Back to overview

21/09/2017

Driving Economic growth In Namibia

High Commissioner for the Republic of Namibia Ambassador Veiccoh K Nghiwete presented on the business opportunities available in Namibia at the JCCI Conference on the 8 August 2017.

South Africa and Namibia enjoy excellent bilateral relations and a number of successful initiatives have been undertaken by the High Commission and the Gauteng Provincial Government with regard to trade and investment promotion over the past two years.

Nghiwete said, “We must capitalise on the prevailing vibrant momentum to ensure profitable partnerships that would give impetus to the sustainable growth of our economies.”

The long-term vision of the Namibian Government is to be an industrialised country developed by its skilled human resources by the year 2030. To achieve this long-term goal Vision 2030 was launched in 2004 by founding President H.E. Sam Nuyoma and is implemented in phases of five-year medium term National Developments Plans of which the fifth was launched on the 31 May 2017 by H.E.

President Hage Geingob. The fifth National Development Plan, (NDP5), is built on four pillars namely economic progression, social transformation, environmental sustainability and good governance. Each pillar has sub-pillars and specific goals to be achieved by 2022.

Important growth sectors identified to drive Namibia’s economic growth include agriculture and agro-processing, manufacturing, physical infrastructure, mineral beneficiation, logistics and transport, tourism, education and skills development, ICT, research and innovation and optimisation of the ocean economy. Another pertinent sector that is at the centre of the Namibian developmental agenda is enterprise development, particularly at micro, small and medium level. The country strives to change youth unemployment into self employment that can potentially generate even more jobs.

A number of specific investment projects are available for joint venture partnerships. These include:
• Namibian hardwood processing into charcoal and energy
• Bitumen manufacturing
• Crop production
• Animal feed and feedlots
• Mixed use property development
• Expansion of hotels and lodges

Other areas that can be explored for investment opportunities are artisan training, off-road automotive component manufacturing and scrap metal beneficiation. Namibia is the fourth largest export destination for South African goods. South African exported goods to the value of over R59 billion to Namibia and imported R11 billion worth of goods from Namibia in 2016.

The trade, which is in favour of South Africa, presents an opportunity for South African companies to leverage on the current 70% manufactured goods market share in Namibia.

Companies are encouraged to uses available incentives and government policies to pursue an agenda of industrialization or explore manufacturing opportunities where such projects are feasible and viable.

Nghiwete said, “This will indeed bring about enormous economic benefits to many of our African countries. In other words, there should be a conduit to slow down migration from neighbouring countries and beyond as new industries in their own countries will boost the overall output of economies and create much needed jobs.”

Nghiwete welcomed the launch of the Trade Invest Africa in July 2016 by the Department of Trade and Industry. The initiative aims to mobilise and support South African companies to invest in industries in the rest of Africa. He said, “This is an initiative by the South African government to lead from the front as the most industrial economy on our continent.”

Financing support is available through the Industrial Development Corporation and other debt and capital financiers that are actively engaging project promoters on the Africa continent.

He concluded that it was important to contribute to the socio-economic transformation and inclusive economic growth of our countries, and our continent at large.

 DRIVING ECONOMIC GROWTH IN NAMIBIA.JPG


Back to overview


Please stop by again. Thank you for your interest!