‘Invest in Namibia’ conference to market Kudu Gas and other projects
Windhoek – Over 500 local and international potential investors are expected to attend the two-day Namibia International Conference titled ‘Invest in Namibia’ scheduled for November 8 and 9 in the capital.
During the conference, which is dubbed a first of its kind, a key number of investors are expected to participate with strong emphasis on business-to-business deals. The country will also showcase a number of previously identified investment opportunities, including the upstream and downstream aspects of the Kudu Gas project.
Addressing the press on Thursday, Industrialisation, Trade and SME Development Minister Immanuel Ngatjizeko said the conference is a key deliverable under the Harambee Prosperity Plan (HPP) Pillar 2, which deals with economic advancement specifically. He noted that a few months ago project proposals were invited for the purpose of due diligence and evaluation, and twenty projects have been selected as optimal investment opportunities.
Ngatjizeko said the sectors which will be represented include affordable housing, agriculture, manufacturing, infrastructure, tourism, logistics and energy.
Other energy projects that will be marketed at the conference include an electricity generation biomass harvesting project requiring a total investment of N$1.2 billion and a solar project that comprises of a thermal storage component with an estimated investment cost of N$13 billion. On the housing side the Ongos Monte Christo City housing project will be touted at an estimated investment cost of N$13.5 billion.
In terms of infrastructure and transport a N$1.2 billion commuter rail service will be showcased to potential investors. Not all of the projects are government projects as many are private projects with private owners or promoters, who are looking for investment partners to inject additional capital.
According to Ngatjizeko, an inter-sectoral team comprised of various offices/ministries and agencies have been mandated to oversee the successful implementation and delivery of the conference. He added that under the capable leadership of the Office of the President, the ministries of finance, home affairs and international relations and cooperation are working together to reposition the Namibian narrative, one where business unusual is the modus operandi.
The conference themed “Promoting Investment for Inclusive Growth and Industrialisation” anticipates the participation of 150 international guests, 150 local investors and 200 delegates representing industry experts, captains of industry, legislators, officials and governors of all 14 regions.
President Hage Geingob is expected to officially open the conference. Ngatjizeko says so far potential investors from Brazil, Turkey, Germany, China, USA, Angola, South Africa and Zimbabwe have confirmed their participation and are expecting more confirmation over the next few days.
Other stakeholders such as the Namibia Chamber of Commerce and Industry (NCCI), Air Namibia, Namibian Broadcasting Corporation (NBC) and the Namibian Ports Authority (Namport) have come on board. Ngatjizeko commended Standard Bank Namibia, the main sponsor, for its contribution of N$1.5 million towards the conference.