Invest in Namibia: A post-mortem
The first ever ‘Invest in Namibia’ conference, held in Windhoek recently, has been described as a huge success by its organisers. Organised by government through the ministry of industrialisation, the conference attracted nearly 1000 investors – including foreigners who travelled from Germany, USA, the UK, Portrugal, Turkey and many other countries. Here, New Era sums up what – in practical terms – transpired at the conference.
Two letters of intent signed
• One with Turkish partners to strengthen the Namibia Investment Centre as an institution, through capacity building interventions.
• Okahandja housing scheme with German investors. The ground-breaking ceremony for this is scheduled for June 2017. The German promoters are in the process of identifying local partners. This project will focus on housing models. The promoters intend setting up a plant that will produce building materials. This plant will be accompanied by a school of excellence that will teach young locals the hard skills needed in the construction industry. The long-term objective of the school of excellence is to train African youth and impart knowledge and skills related to the construction industry. This project will create about 500 jobs for Namibians and foreigners.
A memorandum of understanding was signed between Otavi Town Council and Korean promoters, with a focus on the production of steel.
Commitments secure, but not signed yet
• Namcor and Vitol oil company. This was agreed to by both parties at the curtain raiser event of the Invest in Namibia conference held in the USA.
• APR Energy’s project agreed.
Also worth mentioning…
• Mr Steele, also a promoter, is setting up a manufacturing plant in Namibia, relocating some of its operations from South Africa to Namibia, creating 70 jobs immediately, with 200 jobs to be created in the long run.
• Monitoris – a UK based company focusing on research and professional services, is also opening an office in Namibia.
• World Bank Youth Group, focusing on generating electricity, made significant strides in generating cell electricity.
• Musa Capital-Agro Processing will be launched and will be funded by GIPF. The company will grow crops locally.
What they said…
The presence of President Hage Geingob, Prime Minister Saara Kuugongelwa-Amadhila and other national leaders in most of the sessions impressed many investors, who described this gesture as a great show of leadership and willingness at the highest level to attract investment to Namibia.