Namibia highlights investment opportunities

This month's United Nations General Assembly was, according to the Namibia Investment Promotion and Development Board (NIPDB), a perfect opportunity to promote Namibia as an investment destination.

NIPDB organised a series of meetings with political leadership and heads of state-owned enterprises from Namibia, as well as potential investors from the United States and other participating countries, during the UN's annual gathering.

According to Catherine Shipushu, NIPDB's senior manager for marketing, branding and communication, the UN meeting was ideal for promoting investment in Namibia because it brought together high-profile global leaders and decision-makers in one place, where strategic information could be shared, misconceptions addressed, and investor confidence built.

Encourage

One highlight was the participation of Nampower's managing director, Kahenge Haulofu, and NIPDB's CEO, Nangula Uaandja, in a public discussion on investment and opportunities for growth in renewable energy resources in Namibia. The government's efforts to encourage private sector participation in the renewable energy industry and the national integrated resource plan were outlined.

The main event, 'Invest in Namibia', was sponsored by Rand Merchant Bank in Namibia, where oil and gas, green hydrogen, and mining were identified as priorities for investment. Mines and energy minister Tom Alweendo discussed the details before Uaandja outlined investment opportunities in depth.

For consideration

She highlighted Namibia's wind and solar resources, stating that Namibia is one of the five countries where green hydrogen can be produced at competitive costs. Mining is also of utmost importance, as it contributed 11.1% of Namibia's GDP last year. Investors were particularly encouraged to form partnerships, joint ventures, and strategic alliances with Namibians holding exclusive prospecting licenses (EPLs) to help develop their projects and mining operations.

There are already more than 700 EPL and mining rights owners whose projects can be systematically developed to create more job opportunities, she added.

Education minister Anna Nghipondoka, and higher education minister Dr Itah Kandjii-Murangi also attended.

Shipushu said government is seeking investors to support efforts to establish a strong educational foundation and develop skills that will prepare Namibia for the digital era and create green job opportunities.