NAMIBIA today took a giant leap in the procuring of local, as well as Foreign Direct Investments, with the country securing a total N$20 billion in a period of just two days at the just ended Economic Growth Summit.
In addition to this, another N$30 billion commitments in investments were pledged from both local and international investors, but are yet to be validated, according to the Chairperson of the High Level Panel on the Economy, Johannes !Gawaxab.
These investments, which total N$50 billion, were received from a multitude of both local and international companies, some of which include the Government Institutions Pension Fund (GIPF), the Development Bank of Namibia (DBN), Development Bank of South Africa (DBSA), Ongos valley and Comsar Energy Group.
Other investors include Komsberg Farming, Gondwana Collection Namibia, NamPower, Ohlthaver & List Group, the Africa Import and Export Bank, COMESA and The Africa Finance Corporation (AFC).
!Gawaxab stated that of the certified N$20 billion investments, a total N$9.5 billion was from international investors and emphasised that these investments are not just local funds being moved around.
He added that the Summit is the first step towards repositioning the way that people do business in Namibia, as well as to increase confidence in the economy.
“The Government continuously assesses its current policy framework and has realised the need for further reform in order to create an economic climate that is more friendly and welcoming to all businesses, in all sectors of our economy.” !Gawaxab said.
He added that this is not the end as further funds will still be procured from the Economic Summit.
President Hage Geingob, accompanied by the High Level Panel on the Economy, will also embark on an International Roadshow to the United States, Germany and Singapore next year, which he says will raise funds for housing.
He added that these trips will be funded by the private sector, similar to the just ended Economic Summit.