Photo: by Gary Raynaldo /  Namibia’s head of state, President Hage Geingob, Ph.D. at Investment forum in New York Sep. 27, 2018

Namibia investment

By Gary Raynaldo

NAMIBIA is a little known country located in southwest Africa offering big investment opportunities. U.S. President Donald Trump erroneously referred to the southern African nation of Namibia as “Nambia” last year in a speech to African leaders. The Namibia government held an investment forum in New York City last week pitching numerous business opportunities for international investors seeking a foothold and growth in the African continent. The “Invest in Namibia” forum was organized by AZ Media Agencyand held Sept. 17 at 75 Rockefeller Plaza at Convene located in the iconic Rockefeller Center section of mid-town Manhattan. The investment forum got underway with Namibia’s head of state, President Hage Geingob, Ph.D., as lead spokesperson for the senior government officials, heads of state-owned companies, and executives from more than 40 of Namibia’s top private enterprises who accompanied him. President Geingob emphasized that the southwest African nation was particularly seeking investors who don’t simply want to take all of their profits out of the country, but to invest some of it in Namibia by creating jobs to help the country’s effort to eradicate poverty.  

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Namibia offers investors a climate of “political and economic stability”

Namibia Minister of Industrialization, Trade and SME Development Hon. Tjekero Tweya provided a rundown on investment opportunities in Namibia. They include:

Mining and Energy

Oil and Gas, Solar Power, Mineral Exploration, diamonds, uranium, zinc, etc.)

Agriculture

Tourism (Hotels, Convention Centers, Safari)

Manufacturing and Processing

Infrastructure (Shopping Malls, Supermarkets, Affordable Housing)

According to Minister Tweya:

Namibia is one of the most stable democracies in Africa. He noted that Namibia has been politically stable since gaining independence from South Africa 28 years ago.

“The first president of Namibia is still alive,” Minister Tweya said,referring to Samuel Shafiishuna Daniel Nujom, who served as Namibia’s president after the county gained its independence from South Africa in 1990. Nujom served as president for three terms until 2005. “He is still alive in Namibia, not in exile, and is very popular with the people,” Minister Tweya said, emphasizing the country’s political stability. “Namibia’s second president, (Hifikepunye Lucas Pohamba-from 2005-2015), is also still alive, not exiled, and very popular,” Minister Tweya added.

Hilton, Rio Tinto, Glencore, Peugeot, Shell, BP, Total France, among foreign investors

PEUGEOT TO OPEN A NEW ASSEMBLY PLANT IN NAMIBIA: Groupe PSA

In March 2018, Groupe PSA and the Namibian government signed an investment agreement facilitating the joint-venture agreement between Groupe PSA and Namibia Development Corporation (NDC) to assemble PEUGEOT vehicles in Walvis Bay.  Executive Vice President for Middle East and Africa Region at Groupe PSA, Jean-Christophe QUEMARD said:

“This investment in Namibia is part of Groupe PSA’s long-term strategy to increase its sales in Africa and the Middle East, which is consistent with our target to sell one million vehicles in 2025. This new capacity will serve regional markets with products in line with our Peugeot customer expectation”.