Namibia has been urged to increase investment in Venture Capital (VC) and Private Equity (PE) to accelerate economic transformation, industrialisation and job creation.
The call was made during a high-level dialogue hosted by the Economic Association of Namibia (EAN) in partnership with the Hanns Seidel Foundation (HSF) under the theme “Investing in Potential: How Venture Capital & Private Equity Can Drive Namibia’s Economic Transformation.”
The event brought together government officials, investors, entrepreneurs and financial experts to discuss how VC and PE can strengthen Namibia’s investment ecosystem, improve access to finance and stimulate innovation-led growth.
EAN Vice President Jesaya Hano-Oshike said venture capital and private equity have been proven globally as powerful catalysts for innovation and inclusive economic development.
“Around the world, venture capital and private equity have proven to be powerful engines for innovation, job creation and inclusive growth as they bridge the gap between promising ideas and the capital required to turn them into viable businesses,” Hano-Oshike said.
“In Namibia, where small and medium enterprises form the backbone of the economy and access to capital remains limited, venture capital and private equity fill the void by providing funding, strategic guidance, governance and networks.”
Hano-Oshike said Namibia’s entrepreneurial potential remains underutilised due to limited domestic financing mechanisms, noting that greater VC and PE participation could unlock new industries and expand private sector development.
Cacious Siboleka, Manager of Alternative Investments at the Government Institutions Pension Fund (GIPF), said private equity firms are instrumental in driving operational improvement and long-term value creation.
“Private equity firms acquire significant stakes to drive operational improvements, strategic repositioning and value creation through active ownership, typically exiting within three to seven years via sale or public offering,” Siboleka said.
“The main difference between private equity and venture capital is that venture capital investors actively support portfolio companies through strategic guidance, network access and operational expertise, targeting substantial returns over five to ten years.”
He cautioned, however, that Namibia’s unlisted investment sector continues to face challenges such as weak governance, limited transparency, and insufficient local fund management capacity, which undermine investor confidence.
Nicole Maske, Director at Manta Ventures, said Namibia’s startup ecosystem shows growing potential but requires stronger institutional and policy support to achieve scale.
“Namibia has 40,000 SMEs that create 200,000 jobs and contribute 12% towards GDP. In 2024, our startup ecosystem ranked 8th in Africa and 87th globally,” Maske said.
“Through venture capital, funding early-stage innovators with high growth potential allows people to build something new, even with risks involved. We also need government support to align incentives, remove barriers and change the narrative — Namibia is not too small; Namibia is untapped.”
She added that building a vibrant VC ecosystem would require policy alignment, mentorship programmes, and closer collaboration between the public and private sectors.
Ino Harith Capital Director Ferdinand Nghiyolwa said Namibia’s expanding economy, youthful population and untapped domestic savings make it attractive for investors seeking new opportunities.
“Namibia is a growing economy with large untapped domestic savings, infrastructure gaps in energy, logistics and digital connectivity, and a rising entrepreneurial base,” Nghiyolwa said. “These conditions present a clear opportunity for venture capital and private equity.”
He said targeted investment in energy, logistics and technology could fast-track industrialisation and improve Namibia’s competitiveness in regional and global trade.
Christina von Doderer, Chief Investment Officer at BFS Fund Manager, advised entrepreneurs to assess their company’s growth stage before seeking external funding.
“One first needs to assess where the company is on its journey, from early stage to break-even. From there, you can transition from non-financial investors to debt funding,” von Doderer said. “It’s also important to determine what should be financed with equity, such as a marketing team, which can also be collateralised.”
Von Doderer said understanding when and how to pursue equity investment helps entrepreneurs maintain control while attracting capital to expand their businesses sustainably.
The panellists agreed that venture capital and private equity are critical tools for economic diversification and job creation, enabling Namibia to build competitive, innovation-driven enterprises.
The Economic Association of Namibia said the dialogue is part of its wider efforts to strengthen cooperation between government, investors and entrepreneurs to expand access to finance for sustainable development.
The EAN said more engagements will follow under its Economic Transformation Programme, focusing on unlocking private investment, building fund management capacity, and accelerating Namibia’s transition towards a more inclusive and diversified economy.
