Namibia imported agricultural products worth N$22 billion in 2023, accounting for over 80% of the country’s agricultural consumption
Eos Capital Managing Director, Immanuel Kadhila, revealed the figure while highlighting Namibia’s dependence on external sources for essential goods and indicated the urgent need to improve domestic agricultural capabilities.
“1.4 million Namibians continue to struggle with hunger, a reality that further highlights the importance of enhancing local food production to achieve food security and improve the quality of life for our citizens,” he said.
Kadhila further noted that the agricultural sector is crucial for Namibia, both economically and socially.
However, despite 1.4 million Namibians struggling with hunger, he said less than 5% of the national budget is allocated to agriculture.
“This modest allocation does not reflect the sector’s potential and its vital role in our economy. The agricultural sector employs 25% of Namibia’s workforce, demonstrating its critical role in providing livelihoods for a large portion of our population,” Kadhila noted.
Since 2010, the sector has grown consistently at a rate of 10% year on year.
Kadhila highlighted that the multiplier effect of agriculture is significant as for every job created in agriculture, eight additional jobs are generated in related industries such as logistics, retail, and professional services.
“This 8x employment multiplier effect demonstrates how investment in agriculture can stimulate broader economic development, creating a follow-on effect that benefits various sectors and enhances overall economic prosperity,” Kadhila told guests at the opening of Kadila Poultry Farming.
He said to drive socio-economic progress, reduce dependency on imports, and ensure a secure future, Eos Capital had established the Euphrates Agri Fund, the first and only agricultural fund in Namibia.
“Our commitment is to make investments that will transform the agricultural landscape of our nation,” Kadhila said.
Eos Capital has invested in two pioneering companies. Cherry Irrigation, a market leader with over 35 years of experience, specialises in designing, building, and maintaining irrigation, automation, and fertigation systems.
Cherry has installed over 1,500 hectares of irrigation systems, creating an estimated 2,100 direct and indirect jobs, with a target to install 30,000 hectares over the next decade.
The second investment is in Kadila Poultry Farming, a 100% Namibian-owned broiler producer.
The MD noted that initially operating a six-house broiler farm with the capacity to produce 400 tonnes of poultry meat per month, Kadila Poultry aims to meet local demand and contribute to national food security.
“Kadila Poultry is a perfect example of how targeted investment in agriculture can drive substantial socio-economic benefits,” Kadhila highlighted.
During its construction phase, Kadila Poultry employed over 50 local people and is projected to create over 350 direct and indirect full-time jobs once fully operational.
Kadhila acknowledged the critical role of investors in the success of the initiatives, highlighting the significant contributions from the Retirement Fund for Local Authorities and Utility Services in Namibia, the FirstRand Retirement Fund and their colleagues at Benchmark, and the Members of Parliament Retirement Fund.
He said their investments have been instrumental in advancing the projects.
Founded in 2015, Eos Capital has established itself as a leading unlisted investment manager, managing over N$1 billion in assets across three mandates: general private equity, infrastructure, and agriculture.