Niël Terblanché
Namibia garnered significant attention at the United Nations General Assembly (UNGA) in New York over the past week, with the Namibia Investment Promotion and Development Board (NIPDB) hosting influential investment promotion activities.
According to Catherine Shipushu, Senior Manager of Marketing, Branding and Communications at the NIPDB the mission was aimed at bolstering foreign and domestic investments as viable levers to facilitate sustainable economic growth and quality employment creation in Namibia.
Namibia has showcased a resilient economy, registering a 4.2 percent growth rate in 2022. The nation’s meticulous investment promotion strategies are bearing fruit, attaining the number one rank in Africa and 13th globally in the Greenfield Foreign Direct Investment (FDI) Performance Index in 2022.
NIPDB spearheaded the US mission with enlightening panel discussions at the Concordia Annual Summit. With a spotlight on renewable energy and education sectors, the discussions featured insights from notable figures like Nampower Managing Director Kahenge Haulofu and NIPDB CEO Nangula Uaandja.
The forums highlighted the government’s endeavours to enhance private sector involvement in renewable energy through initiatives like the National Integrated Resource Plan.
The ‘Invest in Namibia’ anchor event, co-hosted with Rand Merchant Bank in Namibia, served as a platform for public and private sector leaders to engage potential investors and elucidate Namibia’s lucrative investment environment.
The event highlighted investment prospects in priority areas like oil and gas, green hydrogen, and mining, with Honorable Tom Alweendo, Minister of Mines and Energy, detailing Namibia’s mining and energy landscape.
Nangula Uaandja accentuated Namibia’s ambitions to evolve as the sustainable energy capital of Africa, leveraging its unparalleled wind and solar resources. “Namibia stands amongst the top five nations with the potential to produce competitive Green Hydrogen,” stated Uaandja.
The mining sector contributed 11.1 percent to the GDP in 2022, and remains a pivotal growth sector, offering significant opportunities for investments and partnerships. Meetings with potential investors and partners, including the Cherie Blair Foundation, and engagements at the Green Hydrogen Organisation and the World Economic Forum, served to stress strategies essential for propelling renewable energy and attracting climate-aligned Foreign Direct Investment. The education ministries stimulated strategic collaborations to fortify the nation’s education foundation and future skills development initiatives. These collaborations will ensure the nation’s preparedness for the digital age and burgeoning green jobs.
“These alliances are instrumental in understanding the prerequisites and anticipations of investors to refine our country’s positioning to allure quality investments,” emphasized the Minister of Higher Education, Training and Innovation, Dr. Itah Kandjii-Murangi.
Shipushu said that while the results of these engagements will unfold over time, NIPDB has achieved its immediate goals of accessing the appropriate audience and advancing objectives of fortifying strategic relationships.
“The realization of these efforts will be a significant stride towards actualizing Namibia’s aspirations for prosperity, by converting leads into substantial investments,” she said.
She indicated that the NIPDB board is aware that the journey to secure tangible investments is strategic and involves sustained dialogues and meticulous engagements before reaching final investment decisions.
“Nonetheless, the mission is deemed a success, setting the stage for fostering long-lasting partnerships and unlocking Namibia’s untapped potential in the global arena,” she said.
