Chinese President Xi Jinping has allocated N$1.5 billion in grants to Namibia to fund housing projects, drought relief efforts, and future development initiatives.
This follows President Nangolo Mbumba’s participation in the 9th Forum on China-Africa Cooperation (FOCAC) and a bilateral meeting with Jinping.
Key among the agreements was a grant of approximately N$1 billion to support Namibia’s efforts in providing housing for police officers.
President Xi also committed to sending a technical team to Namibia to conduct feasibility studies for the project, ensuring its successful implementation.
In addition, a further N$500 million was pledged for future development projects across various sectors.
“Additionally, the Government of China committed close to N$50 million worth of assistance to augment the efforts of the Namibian Government toward drought relief,” a release by the Office of the Namibian Presidency reads.
It further says that Mbumba also held discussions with various Chinese multinational companies interested in investing in Namibian sectors such as infrastructure, manufacturing, mining, tourism, and renewable energy.
He also toured global technology giant Huawei, where he explored innovative digital solutions, including smart cities and digital governance, with an emphasis on capacity-building opportunities for young Namibians.
Furthermore, Mbumba encouraged Chinese companies to engage in win-win partnerships, emphasising mutually beneficial investments aligned with Namibia’s development agenda.
He highlighted key sectors such as mineral beneficiation, renewable energy, and agro-processing as pivotal to Namibia’s economic self-reliance and growth.
“The goal is to establish new industries that will serve as magnets for fresh investments and skilled personnel, enhancing our nation’s appeal,” Mbumba said.
The President advocated for reforms to international financial systems to make financing more accessible for developing nations to achieve their development goals.
Namibia’s focus on enhancing food security and fostering rural development through agro-processing centers was also discussed, with plans to incorporate Chinese technologies to boost local economies and create opportunities for youth and farmers.
“There can be no sustainable industrialisation without addressing the reforms of the international financial architecture. Mobilising international finance should be made easy and accessible in order to assist developing countries achieve their National Development Plans and ensure the collective realisation of the Sustainable Development Goals by 2030.”
