The Namibia Investment Promotion and Development Board (NIPDB) says the country’s fatty oils, including marula and manketti, have managed to break into the lucrative European cosmetic market.
The investment body said the indigenous produce has carved out a niche market in Europe, owing to their exceptional quality and diverse applications.
“These oils are rich in essential fatty acids, antioxidants and vitamins, making them ideal ingredients for high-end beauty products,” Julia Muetudhana, NIPDB’s Executive for Talent, Innovation and Productivity said.
Muetudhana, who was speaking at the official launch of the Namibia Fatty Oils Guide for MSMEs in Windhoek on Tuesday, said the guide will provide entrepreneurs with market research, regulatory compliance, packaging and labelling considerations and logistics management required to export to the European market.
“It equips you with the know-how to tailor your products effectively to the European market while ensuring compliance with local regulations,” she said.
“It is a comprehensive resource through which we aim to share knowledge and experience, providing especially new entrants with insights and strategies that can elevate your cosmetics export endeavours to Europe and the world.”
She said through the export guide, the NIPDB aims to empower MSMEs within the cosmetics sector with key insights to penetrate the European market valued at US$374.18 billion in 2023 and projected to grow from US$393.75 billion in 2024 to US$758.05 billion by 2032.
“Ultimately, we would like to see you selling your products in major markets across Europe, and creating sustainable employment opportunities for Namibians,” Muetudhana said.
She said rising consciousness among the global population regarding personal appearance and well-being is driving growth in the global cosmetic industry.
“The NIPDB therefore, supports MSMEs through various initiatives, most notably the Know2Grow High Potential Pool – a targeted market access and export promotion initiative to support micro and small enterprises to scale and penetrate new markets,” the NIPDB Executive said.
“We do this through taking them to regional and international trade fairs, organising B2B meetings, peer learning, market intelligence webinars and workshops.”
The guide is a collaboration of the Agency for Business and Economic Development, the GIZ BioInnovation Africa project, Sequa and the NIPDB.
