The African Continental Free Trade Area (AfCFTA) offers a vital opportunity for Lüderitz to expand its role in Namibia’s economic growth, according to Minister of International Relations and Trade, Selma Ashipala-Musavyi.
Speaking during the Ministerial Business Engagement Series in the //Kharas Region, Ashipala-Musavyi said Lüderitz is rapidly positioning itself as a hub for regional and international trade, as the town attracts increasing interest from foreign investors.
“Lüderitz is already buzzing with foreign investors, and we must ensure we capitalise on opportunities beyond Namibian borders. The African Continental Free Trade Area presents immense potential, and Lüderitz must be ready to exploit these opportunities,” she said.
The Minister stressed that the private sector is central to economic development, driving job creation, innovation, and tax revenue. She said government’s engagement with local businesses aims to identify gaps in policy implementation, expand market access, and ensure Namibian products compete effectively at regional and continental levels under AfCFTA.
“We must ask ourselves: what can we do differently in Lüderitz? How can we optimise the Crayfish Festival? How can we ensure local products reach all regions of Namibia and beyond? How do we increase local participation in economic activities to remain competitive? The private sector, both large and small, is a critical pillar of economic development, it drives growth, creates jobs, generates tax revenue, and stimulates innovation,” she said.
According to Ashipala-Musavyi, local authorities have initiated land expansion projects, infrastructure upgrades, and tenure reforms to attract investment and support industrial growth. At the same time, government is prioritising value addition, manufacturing, and support for SMEs, women, and youth.
She added that the newly established Ministry of International Relations and Trade, working with the Ministry of Industries, Mines, and Energy, is committed to promoting investment, product diversification, and greater market access.
“Namibian products must not leave the country as raw exports. We must ensure we retain the economic benefits,” she said.
Namibia signed the AfCFTA Agreement in 2018 and ratified it in February 2019, as the country prepares to participate fully in the continental market.
The AfCFTA seeks to increase the ease of trade and investment across African borders, eliminate tariffs on intra-African trade, reduce unemployment, improve infrastructure development, and create a more competitive and sustainable environment for cross-border trade.
The agreement is expected to boost intra-African trade by up to 52.3% and expand Africa’s economy to US$29 trillion by 2050.
