The Namibia Investment Promotion and Development Board (NIPDB) says the country is spearheading investment projects valued at over N$170 billion.
NIPDB Chairperson and Chief Executive Officer Nangula Nelulu Uaandja highlighted the importance of efficient public sector processes and collaboration to accelerate the realisation of the investments and create jobs for Namibians.
“In total, the projects in our pipeline represent over N$170 billion in potential investment. The sooner we work together as a country and streamline processes in the public sector, the quicker we can realise these projects and create jobs for Namibians. This investment is crucial for driving economic growth and improving the livelihoods of Namibians,” said Uaandja.
She pointed to a significant rise in foreign direct investment (FDI) under NIPDB’s leadership since its inception in 2021, despite the challenges posed by the COVID-19 pandemic.
In 2023 alone, she said Namibia attracted approximately N$43 billion in FDI, with major contributions from the oil and gas sectors, along with Heineken’s acquisition of Namibia Breweries.
“In 2023, Namibia attracted roughly N$43 billion in foreign direct investment, largely driven by sectors like oil and gas, as well as major transactions like Heineken’s acquisition of Namibia Breweries. This clearly demonstrates the positive shift we’ve seen in attracting investment into Namibia under the Namibia Investment Promotion and Development Board’s guidance,” Uaandja said.
Uaandja detailed the role NIPDB plays in facilitating and supporting investments, working closely with various government ministries to ensure centralised support for investors.
She emphasised that while the Board does not take direct credit for bringing companies such as Shell, Total Energies, or Osino Gold to Namibia, it has played a vital role in speeding up the processes for investment projects.
“NIPDB’s role is not to claim credit for bringing specific investors to Namibia but to facilitate and fast-track investment processes. We collaborate closely with ministries such as agriculture, mines and energy, and trade to provide a centralised support system, allowing investors to focus on business growth rather than navigating complex government systems,” explained Uaandja.
This comes as between 2021 and 2023, Namibia saw an influx of around N$73 billion in foreign investment, with N$33 billion coming from the oil and gas sectors.
“In just three years, Namibia has attracted a total of approximately N$73 billion in foreign direct investment, N$33 billion of which came from the oil and gas industries. The remaining N$40 billion stems from various sectors, including mining, agriculture, and industrialisation, reflecting the changes we are seeing in Namibia’s investment climate,” said Uaandja.
Uaandja highlighted the significant progress in improving service delivery for the private sector, which has helped attract these investments, though she acknowledged there is still room for improvement.
The collaboration between NIPDB, the government, and other stakeholders continues to send a positive message globally that Namibia is an attractive destination for investment, she said.
“We have made great strides in improving service delivery to the private sector, which has contributed to this influx of investment. Although we still have a long way to go, the message is clear: Namibia is a good place to do business, and this is being echoed not only by NIPDB but by the President and key government officials globally,” Uaandja added.
The CEO noted that several major projects in the pipeline, such as Osino Gold, are expected to bring in N$4 billion in investment, with more to follow.
Projects like Namib Berries are already operational, employing over 300 Namibians, with further growth anticipated from other ventures, including Kelp Blue and HyIron.
“Meanwhile, ventures like Nami Berries are already contributing, with over 300 Namibians employed. We’re seeing more projects come on stream, such as Kelp Blue and HyIron, which will continue to drive economic growth in the coming years,” she said.
