Namibia-Angola Business Forum launched

The Namibia Chamber of Commerce and Industry (NCCI) and the Chamber of Commerce and Industry of Angola (CCIA) have launched the Namibia-Angola Business Forum.

The launch comes after a formalization agreement was concluded in Luanda in February 2022, during the Namibia Trade and Investment Mission to the Republic of Angola.

“It will regularly and routinely deal with matters of mutual interest within the domain of trade and investment. And the motivation is to put a platform in place where businesses and investors of both countries can routinely engage with each other on issues of mutual interest and benefit,” NCCI President Bisey Uirab.

He said the Forum will also work to promote joint-ventures and cross-border investment between Angola and Namibia.

“But going on step further the two representative bodies plan to use the Namibia-Angola Business Forum to assist enterprises in Angola and Namibia who might not have considered entering the export arena, ready themselves to do so. To become exporters of goods and services. Additionally, CCIA and NCCI will work with the governmental structures in our countries to expand invest flows between Angola and Namibia,” the NCCI President said.

“The time has come for countries in Southern Africa to become less reliant on goods and services from other geographical regions of the world. We have much to offer each other, in terms of goods and services.”

Uirab said the business groupings support on-going efforts by the Namibian and Angolan governments to establish One-Stop Border Post’ between the two countries.

“We note with great satisfaction that the governments of both countries have agreed to fast-track the drafting of a One-Stop Border Post (OSBP) concept agreement. The seriousness of public sector action is demonstrated by Angola already agreeing to reciprocate the Visa entry period validity from 30 to 90 days.We as business sector representative bodies, demonstrate our full support for the intent of the governments of Angola and Namibia to make this border post a One-Stop facility. Thereby to facilitate swift, efficient and unhindered people and trade flow between the two countries,” he said.

Uirab said plans by the Bank of Namibia (BoN)and Banco Nacionale de Angola (BNA) to prioritize the creation of a more conducive regulatory environment for availing foreign exchange for legitimate purposes were encouraging.

“It is encouraging to note that BON and BNA are actively advocating for the adoption of the SADC RTGS payment system that is currently used by several commercial banks in both countries. As financial institutions craft and implementing systems to ease payment flows, it encourages NCCI to observe that government ministries in Angola and Namibia are exploring ways to minimize administrative bureaucracy, as it pertains to cross-border people and vehicle movement,” he said.

According to the latest Namibia Statistics Agency figures, Angola is not listed among the top five import and export markets for Namibia.


Rate this item
(0 votes)
Last modified on Wednesday, 18 May 2022 10:51

Related items

  • Fitch downgrades Namibia, forecasts 2.8% growth in 2022

    Fitch Ratings has downgraded Namibia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BB-' from 'BB'. The Outlook is Stable.

  • Non-ferrous metals Mining Index rises 19.4%

    Namibia’s Mining Index for other non-ferrous metal ores increased by 19.4% in the first quarter of 2022 after rising to 185.2 basis points compared to 155.1 basis points recorded in the same quarter last year, figures from the Namibia Producer Price Index (NPPI) show.

  • Strong economic growth expected

    Namibia's economy is expected to have recorded a strong growth on an annual basis in the first quarter on the back of increased mining output and improved tourist arrivals. 

  • Namibia's live cattle exports shoot up

    Cattle slaughtering increased marginally by 3.4% y/y in May 2022, while that of sheep dropped 12.0%, goats down 90.7% and pigs rose 12.8%. Live cattle exports increased by 35.9% y/y while sheep rose 47.5% y/y although goats dropped 9.8% y/y in May 2022.