Local cosmetics industry growing

05 May 2021 | Business

Namibia’s cosmetics industry has grown considerably and 34 businesses currently export products worth over N$100 million per year.

The minister of Industrialisation and trade, Lucia Iipumbu, said steady growth has been experienced, especially in the export of ingredients and health and beauty end-products. Exports increased from N$60 million in 2016 to over N$100 million in 2019, according to the latest figures available to the ministry.

“When we zeroed in on the cosmetics sector, we started with four exporters, now we are at 34 exporters. We know the difference is huge in terms of what we export versus what we import as our cosmetic imports stand at about N$3 billion annually, but we are making progress. There is a long way to go in reversing the situation, but we are taking baby steps,” she said.

Iipumbu last week told Parliament the ministry, although slowly, recorded progress in other sectors and will continue to capacitate and assist local businesses to not only produce goods for local consumption, but also to export these goods.

OTHER SECTORS

She noted that progress was made in the charcoal industry, with Namibia recently exporting 350 tonnes of charcoal worth N$2 million to the United States of America. The ministry envisages that by September 2022, the country will be able to export charcoal worth N$650 million.

Iipumbu said the 'Buy local, grow Namibia' campaign launched by the ministry last year aims to stimulate retailers and ensure that they reserve shelves for products made in Namibia.

“At the beginning of the campaign various retailers were sourcing approximately 20% of their stock from local producers, but when the campaign was intensified, some of them went up to 60% in sourcing from the local producers,” the minister said.

She noted that there are retailers who are not yet on board, but the ministry is working on encouraging them to support the sale of local products. - Nampa

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