Geingob sells Namibia
Namibia is ready for a generous family of investors. President Hage Geingob announced this in an advertisement placed in the world's leading global business publication, the Financial Times.
Geingob, who was in New York to attend the 72nd United Nations General Assembly, described Namibia as “Africa's best-kept secret”.
“Many African nations aspire to attract foreign investment and hope to create environments to facilitate the flow of people and capital,” the advertisement read.
Geingob emphasised that Namibia was not a nation that “makes a lot of noise” but he personally invited business leaders and investors to come to the country and get a first-hand experience.
“Namibia has the advantage of being one of the most attractive destinations for investors and offering stability, social justice, a government focused on good governance and transparency, gender equality, respect for the environment, improved quality of life, and one of the most beautiful landscapes and unspoiled coastlines in the world,” said Geingob.
Local economist Omu Kakujaha-Matundu commended the president's “brilliant idea” but warned that the government must “get its house in order”.
He added that the timing was bad, as the recent Moody's downgrade would scare off potential investors.
“We have a very good Growth at Home strategy but the distance to our markets is a problem, so you look at transport costs as an impediment. But there are other weaknesses too: the lack of skills, productivity, the high labour unit cost,” he said.
Namibia's Growth at Home strategy reinforces the importance of accelerating economic growth, reducing income inequality and increasing employment.
JEMIMA BEUKES
Geingob, who was in New York to attend the 72nd United Nations General Assembly, described Namibia as “Africa's best-kept secret”.
“Many African nations aspire to attract foreign investment and hope to create environments to facilitate the flow of people and capital,” the advertisement read.
Geingob emphasised that Namibia was not a nation that “makes a lot of noise” but he personally invited business leaders and investors to come to the country and get a first-hand experience.
“Namibia has the advantage of being one of the most attractive destinations for investors and offering stability, social justice, a government focused on good governance and transparency, gender equality, respect for the environment, improved quality of life, and one of the most beautiful landscapes and unspoiled coastlines in the world,” said Geingob.
Local economist Omu Kakujaha-Matundu commended the president's “brilliant idea” but warned that the government must “get its house in order”.
He added that the timing was bad, as the recent Moody's downgrade would scare off potential investors.
“We have a very good Growth at Home strategy but the distance to our markets is a problem, so you look at transport costs as an impediment. But there are other weaknesses too: the lack of skills, productivity, the high labour unit cost,” he said.
Namibia's Growth at Home strategy reinforces the importance of accelerating economic growth, reducing income inequality and increasing employment.
JEMIMA BEUKES
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