Namibia Investment Promotion and Development Board

Author: Johan Steenkamp

Appointment of Dino Ballotti at NIPDB

Tuesday, 15 October 2024

In response to recent media inquiries and public interest regarding the appointment of Mr. Dino Ballotti as an employee on a Fixed Term Contract basis at the Namibia Investment Promotion and Development Board (NIPDB), the NIPDB  would like to clarify the circumstances surrounding this decision.

In any organisation, the departure of a senior leader creates a leadership vacuum and a delivery challenge that cannot be easily overcome. Finding a successor to fill such a vacuum and perform at the expected level is an activity that requires both time, energy and tact. Following the departure of Mr Ballotti as the Executive Director responsible for MSME Development, Innovation & Acceleration in August this year, the NIPDB noted that there will be a challenge for the organisation to deliver on some of its key initiatives and objectives as  set out in its Integrated Strategic Business Plan (ISBP) for the current financial year, as submitted to the Ministry of Finance and Public Enterprises. 

Having served as one of the founding Executives of the NIPDB and being part of the development of the 2024/2025 ISBP of the NIPDB, Mr Ballotti not only possesses institutional knowledge and memory, but also the requisite background and experience  vital to the successful delivery of key initiatives currently being pursued by the NIPDB. Given Mr Ballotti’s deep understanding of the NIPDB’s goals and challenges, his temporary engagement was thus deemed essential for the continued advancement of the organisation’s strategic objectives. 

It is against that background that the NIPDB re-engaged Mr Ballotti to serve as an employee on a fixed term contract basis, with a clear scope of work aligned with the NIPDB’s strategic objectives and expected to contribute significantly to the successful implementation of key projects. In this capacity, he will also play a critical role in providing strategic guidance, technical support, and ensuring continuity during this period of transition, while the recruitment for the vacant Executive Director role (permanent), which is currently underway, is being finalised.

The NIPDB reiterates its commitment to transparency and accountability in its operations. We equally acknowledge and appreciate the public interest in this matter and can confirm that this decision was made in the best interest of delivering on the mandate of the NIPDB, and ensuring that we continue to unlock investments for inclusive growth, with minimum to no interruptions. 

Issued by:
Catherine Shipushu
Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile:  +264 81 127 9069
Email: catherine.shipushu@nipdb.com

NIPDB Launches Study Opportunities Information Sharing Platform

Tuesday, 8 October 2024

In line with its mandate to ensure that Namibia develops skills necessary to meet the needs of investors, the Namibia Investment Promotion and Development Board (NIPDB) has developed an information sharing platform to address the critical challenge of limited access to information on bursaries, scholarships, and other funding options and opportunities offered in the country. 


By providing a centralised platform and implementing targeted outreach strategies, the NIPDB is committed to contributing towards creating a more equitable and inclusive education landscape. The information sharing platform was developed through a collaboration between the NIPDB and stakeholders including the private sector, state owned enterprises, regulators and development partners.  


Speaking at the launch, NIPDB Acting Chief Operations Officer Johan Steenkamp emphasised the need to share study opportunities to help reduce the unemployment gap. “Recent statistics reveal a substantial increase in applications for funding, with over 30,000 applications received in 2023 alone. We also know that over the period of 2021 – 2023, over 25,000 potential applicants for study funding have been turned down. The NIPDB is thus committed to bridging this gap and we believe that this platform will serve as a centralised hub where young people can easily access current and credible information about educational funding opportunities, initially local opportunities and at later stage, international opportunities.”


Namibian youth seeking opportunities to access education and skills development opportunities will now be able to access this information in real time by a touch of a button. It is acknowledged that not all young people have access to digital channels. Therefore, to ensure equal access to information, the portal will also be shared through partnerships to be  established with regional education offices, NAMCOL centres, and vocational training centres to disseminate information and provide support to those who may not have access to the internet.  


Speaking at the launch, Debmarine’s Human Resource and Development Manager Leandri Petrus further touched on the importance of access to educational opportunities in the country, “access to educational opportunities is a powerful equaliser. Education levels the playing field by providing people from all walks of life, regardless of socioeconomic status, a chance to succeed. When access is limited, societal gaps widen. But when educational opportunities are made available to all, we foster hope and create pathways for everyone to succeed, thereby improving social mobility and reducing inequality”, she said.


The NIPDB invites educational institutions, government institutions and private sector organisations to  empower the youth by sharing their study and internship opportunities on this platform. Updates on available opportunities will also be shared on the NIPDB website and social media platforms. 


Julia Muetudhana, Executive Director for Talent, Innovation and Productivity highlighted the need for public and private sector entities to supply various study opportunities to the NIPDB in order for the platform to serve its function. “We urge companies to submit information about the various opportunities for students to be shared on the platform and also for companies to encourage fellow employees to share this type of opportunities with the NIPDB. Please take our hand and walk this journey with us because this is not about NIPDB. We are merely the custodian, but this becomes our platform that we can all be proud of. ”


The platform is accessible at https://studyopportunities.nipdb.com 


Issued by:

Catherine Shipushu
Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile:  +264 81 127 9069
Email: catherine.shipushu@nipdb.com

 

Namibia announced as runner-up in the World Trade Promotion Organization (WTPO)Awards 2024

01 October 2024

Namibia announced as runner-up in the World Trade Promotion Organization (WTPO) Awards 2024.

The results are in! The  International Trade Centre (ITC) has announced that the Namibia Investment Promotion and Development Board (NIPDB) has been selected as the Runner up of the WTPO Awards 2024 under the category “Best Initiative to Ensure that Trade is Inclusive and Sustainable”. 

The WTPO Awards, which celebrate innovation and leadership in trade promotion, recognize Trade Promotion Organizations (TPOs) that excel in providing effective support to Micro, Small, and Medium Enterprises (MSMEs) as they enter and compete in international markets. Namibia was shortlisted in the aforementioned category alongside ApexBrazil who emerged as the winner. This year’s awards focused on initiatives that ensure trade is inclusive and sustainable, addressing global development challenges and promoting economic growth that benefits all sectors of society.

This global recognition highlights Namibia’s efforts in supporting the growth and development of MSMEs, specifically through the NIPDB’s Know2Grow High Potential Pool Programme.

The Know2Grow High Potential Pool Programme is an initiative designed to empower export-ready MSMEs by providing them with essential tools, resources, and market access platforms. The programme aims to provide MSMEs with training and mentorship to enhance their ability to compete internationally and offer opportunities for businesses to participate in global trade fairs, expos and other market access initiatives.

“Trade and investment promotion organisations are key to growing economies in a sustainable way – including by supporting small businesses to export – and today we’re recognizing the best among them, worldwide,” said ITC Executive Director Pamela Coke-Hamilton. “Congratulations to the three winners, and to all the finalists, for equipping small businesses to actively participate in trade.” 

“We pledge our commitment to continue working  with our MSMEs in Namibia to ensure that  trade is inclusive, sustainable and that we will grow in accessing global markets,” says Julia Muetudhana, the NIPDB’s acting Executive Director of MSME Development, Innovation and Acceleration.

The global competition has taken place every two years since 2004. It is judged by a jury composed of previous winners and chaired by the ITC Executive Director.

The NIPDB is proud to receive this recognition on behalf of Namibia. We extend our heartfelt gratitude to all our stakeholders, partners, and the Namibian MSME community who have been part of this journey with us. Without their support, collaboration and trust, this recognition would not have been possible. 

Should you have any questions, please do not hesitate to contact us.


Issued by:
Catherine Shipushu
Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile:  +264 81 127 9069
Email: catherine.shipushu@nipdb.com

 

NIPDB transitions to a new Governance structure

30 September 2024

Background:

The Namibia Investment Promotion and Development Board (NIPDB) was established following a proclamation by His Excellency the President of the Republic of Namibia (the late Dr. Hage G. Geingob), when he announced his second term government on 16 March 2020. This proclamation was supported by a resolution of the Cabinet, which further positioned the NIPDB as an entity in the Office of the President. The NIPDB effectively assumed the functions of the Namibia Investment Centre and the SME division from the then Ministry of Industrialisation, Trade and SME Development, which was later renamed to the Ministry of Industrialisation and Trade.

At the time of the NIPDB’s establishment, Namibia was faced with multiple challenges of a stagnant and receding economy (such as negative economic growth and declining private sector investments), compounded by the persistent high levels of unemployment, income inequalities and poverty. In order to reap immediate benefits, the NIPDB needed a unique model of governance, one that enabled the organisation to be agile in decision making and implementation, and with close proximity to policy makers in order to make recommendations necessary to effect the required change. However, while it was important for the NIPDB’s governance structure to suit the needs and demands of the organisation, it was equally imperative to ensure that it did so without compromising the key principles of any organisation regardless of scale, to ensure appropriate oversight, accountability and compliance with relevant laws and regulations.

Accordingly, upon seeking the advice of the Attorney General and Presidential advisors, the NIPDB was established as a Section 21 Company in terms of the Companies Act 28 of 2004, and was pronounced as a Public Entity (in the Office of the President) to be gazetted as such in accordance with the requirements of the Public Enterprises Governance Act 1 of 2016. A CEO and Chairperson who reports directly to the President and is invited to attend Cabinet meetings was then appointed to oversee the establishment, leadership and management of the institution.

At the same time, the leadership team was tasked with the responsibility of setting up a resilient institution that complies with Namibian structures of institutions, systems and processes. Therefore, since its inception, the NIPDB has been governed by an Advisory Board composed of eight independent, non-executive members who were appointed to oversee the organisation and to provide direction, support and guidance to the CEO and President. The Advisory Board, whose term is set to end on 31 October 2024, reports to both the Office of the President and to the Ministry of Finance and Public Enterprises.

A new dispensation:

At the NIPDB’s Annual General Meeting held on 23 November 2023, the Minister in the Presidency, Honourable Christine //Hoebes indicated that following completion of its initial 24-months operationalisation strategy, the NIPDB has effectively outgrown its infancy stage. The Minister further directed the Advisory Board to review the governance structure, determine whether it is still fit for purpose and make the necessary recommendations to His Excellency, the President. Based on that review and respective recommendations, on Wednesday, 18 September 2024, at the 2023/2024 Annual General Meeting, it was agreed that the NIPDB will transition to a new governance structure that is fully aligned to the principles of the Public Enterprises Governance Act 1 of 2016 (PEGA).

To effect this change, the Articles of Association were amended, in terms of which the transition will be made, bringing about several changes. Primarily, the Board will be composed of at least seven independent Non-Executive members, one of which will be appointed by the President to serve as the Chairperson. The NIPDB CEO, to be appointed by the President, will be invited by the Board to attend meetings in an Ex-Officio capacity. Further to that, a representative from the Ministry of Industrialisation and Trade, not below the rank of Deputy Executive Director will be invited by the Board to attend meetings in an Ex-Officio capacity. Functionally, the NIPDB CEO will report to the Board of Directors, with an additional reporting mandate to the President, in her/his capacity as the Chairperson of a Technical Investment Committee. This Committee will be composed of members representing various Offices, Ministries and Agencies (OMAs), and will be responsible for driving government service delivery with the aim of improving Namibia’s Ease of Doing Business and Competitiveness through infrastructure and policy, as well as fast tracking the conversion of investments amongst others.

In order to give effect to the aforementioned resolution, the Amended Articles of Association will be registered and the process of appointing the new Board of Directors will commence with immediate effect. The mandate and legitimacy of the NIPDB is further set to be legislated by Parliament in the Namibia Investment Promotion and Facilitation Bill which is currently in the drafting process. It is important to note that these two processes are not mutually exclusive.

Should you have any questions or concerns, please do not hesitate to contact:

Catherine Shipushu
Senior Manager: Communications, Marketing, Branding
Phone: +264 (0) 83 333 8636
Mobile: +264 (0) 81 1279069
Email: catherine.shipushu@nipdb.com

Issued by:

Nangula Uaandja
Chairperson and Chief Executive Officer

NIPDB responds to The Namibian Newspaper article on visa applications

28 July 2024

The Namibia Investment Promotion and Development Board (NIPDB) wishes to respond to the newspaper article titled “Rich foreigners eye Namibian farms” which was published in The Namibian newspaper on Friday, 26 July 2024.

Background

The NIPDB is mandated to promote and facilitate investment by foreign and Namibian investors and coordinate MSME activities across all levers of the economy, to contribute to economic development and job creation. The NIPDB aims to position Namibia as a preferred investment destination, leveraging its natural resources, strategic location, and business-friendly policies.

As a key driver of Namibia’s diversification strategy and agency entrusted with coordinating the realisation of a private sector led and inclusive economic growth, the NIPDB actively promotes Namibia as a premier investment destination. Our efforts on economic diversification are focused in drawing investments into non-traditional sectors like global and business services, technology, and manufacturing in order to reduce heavy dependence on a few sectors such as mining, tourism and agriculture. 

Additionally, the NIPDB’s role in job creation and infrastructure development is crucial for fostering a business-friendly environment and improving living standards. Through policy advocacy, the NIPDB further collaborates with the government to maintain investor-friendly laws, regulations and processes, enhancing Namibia’s competitiveness and ease of doing business.

It is worth noting that Foreign Direct Investment (FDI) remains one of the vital tools for measuring performance in this regard and provides a clear quantitative measure of how successful the NIPDB is in discharging its responsibility. Additionally, the number of FDI projects reflects the confidence and interest of foreign businesses in Namibia’s economic environment thereby attracting further investments. However, we are cognizant of the fact that FDI needs to be attracted in a responsible and sustainable manner. In this regards, in our evaluation criteria for investors, we consider components such as value of investment (direct and possible multiplier effect), jobs to be created (direct, indirect and induced), expected revenue earnings with focus on revenue earned from export, expected contribution to treasury, total assets owned and prior experience, other possible opportunities that will be offered by the investor to Namibia in terms of branding, market access, capacity building as well as direct/indirect support to Namibian MSMEs. It is unfortunate that The Namibian attributed to the NIPDB a misleading quote “… and they want permanent residency to buy Namibian retirement farms” was attributed to the NIPDB” in their articles of Friday 26 July 2024 entitled “Rich foreigners eye Namibian farms”. The NIPDB has never advocated for a general application for a group of applicants to the MHAISS. The institution supports individual applications and usually sets out the specific contribution or potential contribution by such an investor to Namibia.

The Desert Visa Programme

While investment projects are critical for success, equally important is attracting institutional investors and owners of capital who will provide access to funding required to drive this growth. One of the vehicles used is a Golden Visa Programme (GVP). GVPs have been instituted by various countries who through these types of programmes have not only attracted capital but have also attracted much needed skills to grow their economies. Major economies such as the UAE, Hong Kong, United States, Singapore, and Switzerland, have leveraged well-crafted Golden Visa Programmes and are a testament to the value of investment-based migration. 

Golden Visas typically target high net worth and talented individuals who contribute to economic growth through direct investments, increased consumer spending, imparting their skills and knowledge as well as philanthropy. Their investments often lead to local job creation and increasing the tax base. 

Given these global trends, the High Level Panel on the Namibian Economy (HLPNE) proposed for Namibia to develop its own Golden Visa Programme. As a result, the second Harambee Prosperity Plan (HPP II) under the Economic Advancement pillar, mandated the NIPDB to develop a Golden Visa Programme in conjunction with the MHAISS. This programme currently called the Desert Visa Programme (DVP) aims to incentivise and attract investors with skills, discretionary capital and ambitions to set up businesses and residency in Namibia. The underlying objective of this programme which was due for implementation in the second quarter of 2021/22 financial year is raising more than N$50 billion in investments during the HPP II period. The full development and  implementation of this programme is however yet to be finalised and approved by Cabinet. One of the key outstanding outputs that will amongst others enable the DVP is the Migration Control Bill which is currently under development by the MHAISS.

While the Desert Visa Programme is being finalised, the NIPDB continues to attract investors and seek relevant visas/permits from MHAISS. The requests for such visas are limited to those allowed by the current Immigration Control Act 7 of 1993 and are applied for in accordance with provisions made in that Act.

The NIPDB One Stop Centre (OSC)

Since its inception, the NIPDB has made efforts to improve the ease of doing business in Namibia by facilitating a number of investment exploratory visits, assisting with special visa and permit applications, strengthening public-private trust and boosting productivity in identified key sectors. 

Launched in October 2022 as part of  the Business Facilitation Services offered by the NIPDB, the One Stop Centre (OSC) aims to improve service offering by the Public Sector to investors. These services include facilitating visa and permit applications for potential investors who meet our criteria. These services are designed to support and promote investment into Namibia while adhering to all legal and regulatory frameworks. 

Nine Government Ministries and Agencies, namely Namibia Revenue Agency (Namra), Business Intellectual Property Authority (BIPA), Namibia Competition Commission (NaCC), Ministry of Home Affairs, Immigration, Safety and Security (MHAISS), City of Windhoek (CoW), Ministry of Mines and Energy (MME), Ministry of Environment Forestry and Tourism (MEFT), Ministry of Agriculture Water and Land Reform (MAWLR) and  Namibia Industrial Development Agency (NIDA) have collaborated with NIPDB to deliver efficient service to investors and ensure improved investment facilitation services in the OSC.

Conclusion

The NIPDB can confirm that we have approached the Ministry of Home Affairs, Immigration, Safety and Security (MHAISS), along with numerous other stakeholders, on numerous occasions to help facilitate potential investments into Namibia. The NIPDB remains committed to transparency and fairness in all its operations as it continues to uphold the highest standards of integrity in its processes. We will however not comment on specific details of investors’ applications and/or privileged and confidential correspondence between the NIPDB and our stakeholders.

Issued by
Nangula Uaandja
Chairperson and Chief Executive Officer

Contact Person
Titus Shivute, Manager: Marketing and Communications 
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8630
Mobile: +264 81 146 8272
Email: titus.shivute@nipdb.com 

Margareth Gustavo, Executive Director: Strategy and Branding 
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8630
Mobile:  +264 81 1254 359
Email: margareth.gustavo@nipdb.com 

RMB and FNB Commercial backs the Africa Hospitality Investment Forum with N$500,000 sponsorship

28 May 2024

On behalf of FirstRand Namibia Group, as Group entities, FNB Commercial and RMB today announced a N$500,000 sponsorship towards the Africa Hospitality Investment Forum (AHIF) to be hosted by Namibia on 25 – 27 June 2024. 

AHIF, which is known as the most influential annual gathering of hospitality industry investors, business leaders, government officials, bankers, and expert advisors on the African continent, typically welcomes delegates from over 50 countries for three days of high-level networking, formal business meetings and discussion of all the latest trends and developments.

The Namibia Investment Promotion and Development Board (NIPDB) facilitated the winning for Namibia, and serves as the host partner for this year’s event. The sponsorship demonstrates a shared commitment to enhancing Namibia’s competitiveness while contributing to economic growth and development. 

FNB Namibia’s Head of Enterprise Banking, Connie-Marlene Theyse reiterated that the Group recognizes the tourism industry’s significance to the Namibian economy, as a significant creator of employment and social upliftment, and its vital contribution to other vital sectors. 

“We are proud to partner with the Namibia Investment Promotion and Development Board for the Africa Hospitality and Investment Forum with a N$500,000 sponsorship on behalf of FirstRand Namibia. The work done by the NIPDB to win the bid to host the Africa Hospitality Investment Forum is commendable as it provides a platform to showcase Namibia and its uniqueness as a travel destination and provides a platform to unlock opportunities for local industry players and investors”, said Theyse. 

NIPDB Executive Director for Strategy & Branding, Margareth Gustavo applauded the FirstRand Namibia Group for its consistent support to Namibia evidenced by collaboration on various investment promotion related events and MSME development projects over the past three years. She added that this is a demonstration of the Group’s deliberate commitment to sustainably growing the Namibian economy and contributing towards driving investments into key sectors that catalyse the attainment of the national development agenda. 

“This sponsorship is not just about financial support, but also about bringing together diverse stakeholders to develop Namibia. We look forward to continued collaboration and participation in various development projects that aim to make Namibia a thriving and prosperous nation”, said Gustavo. 

AHIF is expected to bring together over 300 delegates who will converge in Windhoek to discuss key topics including Government Initiatives to Support Hospitality, Hotel Development, Hotelification of the Workspace, Investing in Namibia as well as the New Global Geopolitical Order and its Impact on Hospitality, amongst others. 

His Excellency President Nangolo Mbumba will formally open the event on 26 June 2024. Other prominent speakers include the Minister of Environment, Forestry and Tourism, Honourable Pohamba Shifeta and several top executives who, between them, have the power to transform a destination by funding projects.


Caption:
Catherine Shipushu, NIPDB Senior Manager: Marketing, Communication and Branding, Nangula Shejavali, NIPDB Manager: Policy Reform and Business Climate, Margareth Gustavo, NIPDB Executive Director: Strategy & Branding, Daniel Motinga, Head of Sovereign & Public Sector Banking at RMB Namibia,  Connie-Marlene Theyse, Head of Enterprise Banking at FNB Namibia, Dino Ballotti, NIPDB Executive Director: MSME Development, Innovation & Acceleration and Ndeapo Wolf, NIPDB Consultant: Development & Partnerships at the sponsorship handover ceremony at the Investment House this morning.

 

Issued by : Catherine Shipushu
Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile:  +264 81 127 9069
Email: catherine.shipushu@nipdb.com

 

O&L Leisure announces N$500,000 sponsorship towards the Africa Hospitality Investment Forum as Namibia prepares to host 300 investors and industry leaders

Sunday, 26 May 2024

In just five weeks, over 300 hospitality industry investors, business leaders, government officials and expert advisors on the African continent will converge in Windhoek for the Africa Hospitality Investment Forum (AHIF) 2024. This is the first time the event is coming to Southern Africa, after Namibia won the bid and was announced as the 2024 host last year. The bid was facilitated by the Namibia Investment Promotion and Development Board (NIPDB), which also  serves as the host partner in Namibia.

Announcing the sponsorship in Windhoek today, O&L Executive Chairman and Managing Director of O&L Leisure, Sven Thieme congratulated the NIPDB for facilitating the winning bid for Namibia, noting that this is an achievement that highlights a collective commitment to showcase Namibia’s unique tourism potential on the international stage. 

“The NIPDB shares O&L Leisure’s vision of positioning and marketing Namibia as a premium destination, offering world-class experiences. Together, we strive to bring Namibia’s rich culture, stunning landscapes, and exceptional hospitality to the forefront of the international tourism industry”, said Thieme.

AHIF is known to be a premier investment forum that gathers the highest calibre of international hotel investors, making it the most influential conference of its kind in Africa. It also plays a crucial role in driving investment into tourism projects, infrastructure and hospitality development on the continent, and thus has the potential to contribute towards reshaping Namibia’s tourism industry.

“As part of our diversification strategy, geared towards expanding the Namibian economy,  tourism has been identified as a potential key driver for economic growth.  With the high calibre of investors, hoteliers and financiers coming to Namibia, we are very deliberate in leveraging the convening power of AHIF to showcase the  investment opportunities in this sector, with a clear end goal of securing investments that enable a sustainable future for Namibians”, said NIPDB Chief Executive Officer, Nangula Uaandja.  

With over 300 delegates attending the forum, hosting AHIF is expected to yield tangible economic benefits for Namibia. The influx of visitors will stimulate economic activity in the country, boosting demand for hotel accommodation, transportation and restaurant services as well as  peripheral services such as curio and gifting products. 

Uaandja added that in the long-term, successfully hosting this conference is a key element to achieving Namibia’s strategic goal of becoming a business tourism destination, supported by the establishment of the Namibia Convention Bureau aimed at branding and promoting Namibia as a MICE destination. She emphasised that the realisation of these and other economic aspirations require strong partnership-led public and private sector collaboration. 

“We therefore welcome the support of our partners O&L Leisure, which is a demonstration of our shared goals to grow the economy sustainably and to unlock opportunities that make prosperity a reality for our people. It is also a pivotal example of public and private collaboration to support the government’s economic development agenda ”, said Uaandja.

Thieme concluded by saying: “By leveraging our collaboration with NIPDB and other stakeholders, we are committed to empowering local communities through job creation and skills development. This ensures that the benefits of a thriving tourism sector are felt by all Namibians, promoting inclusive growth and long-term prosperity.”

The Africa Hospitality Investment Forum will take place on  25 – 27 June 2024 at the Mövenpick Hotel in Windhoek, where delegates will converge for three days of high-level networking, formal business meetings and discussions of all the latest trends and developments in the hospitality industry.

Issued by : Catherine Shipushu
Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile:  +264 81 127 9069
Email: catherine.shipushu@nipdb.com

NIPDB analysis of the National Budget 2024/25

Windhoek, 29 February 2024

In his New Year’s speech for 2024, President Hage Geingob themed this year as the ‘Year of Expectations’. In so doing, the President had envisioned that following the Government’s promise of prosperity and the subsequent strategic interventions to attain this ambitious goal, this will be the year that elements of this vision are expected to start manifesting. The budget presented by Honourable Iipumbu Shiimi yesterday indicates that the strategy is starting to bear fruit and reflects good news for everyone from individuals to business entities.

The 2024/25 national budget is anchored in the overarching theme “Continuing the legacy of His Excellency Dr. Hage G. Geingob by caring for the Namibian child”, and is focused on the deliberate intention to bring prosperity closer to the Namibian people by promoting economic growth, while reinforcing the government’s vision of building an inclusive private-sector led economy. We therefore welcome the government’s efforts to broaden the country’s tax base, and implementation of certain provisions in the SADC Protocols to align with regional benchmarks.

Notwithstanding the recent greylisting and related reputational risks, the Namibian economy has been on an upward trajectory in the last three years, with a growth rate of 6.5% in 2022 and an average of 7% in the first three quarters of 2023 and record-breaking Foreign Direct Investment (FDI) of N$ 17.5 billion for 2022 and N$ 26.4 billion for the first three quarters of 2023. With an increasing global presence and unparalleled natural resources, the Namibian economy has the potential to grow significantly provided the country sustains a progressive business environment, underpinned by a collective priority towards constraints elimination, policy reforms, skills and MSME development, amongst others.

As Namibia shapes her trajectory as a viable investment destination, the amendments in the national budget are therefore consistent with these aspirations. The budget reflects the government’s efforts to bolster economic growth by improving Namibia’s investment attractiveness, through unlocking domestic and foreign investment, developing a conducive environment for micro, small and medium enterprises (MSMEs) to thrive and creating opportunities for employment. Furthermore, notable tax relief measures for individuals and businesses, such as reduced income and employee taxes, a higher VAT threshold and reduced transfer duties, carry positive impacts for Namibians. We could not have asked for a more fitting tribute to the legacy of the late President Dr. Hage G. Geingob, who advocated for bold and innovative actions to unlock the country’s economic potential and deliver prosperity to Namibians.

At the NIPDB, supporting the government’s economic development agenda remains at the core of our activities. We therefore applaud Honourable Shiimi, the entire Ministry staff and the National Planning Commission for the impactful changes in the budget, particularly relating to targeted interventions and initiatives, some of which are outlined below:

● Increase in the VAT threshold from annual turnover of N$ 500,000 to N$ 1million will not only ease the administrative burden on small businesses, but will also accelerate their growth, by enabling them to compete effectively (with a comparatively lower cost of providing goods and services) and play a pivotal role in economic development.

● Gradual reduction in the corporate tax rate for non-mining entities from 32% to 28% will contribute towards improving Namibia’s competitiveness and provide extra cash to large corporations leading to potential further reinvestment in projects aimed at spurring the economic activities and increased employment;

● A reduced corporate tax rate for MSMEs as defined from 32% to 20% shows the government’s commitment to encourage the growth of these entities;

● The introduction of a dividends tax at 10%, aligned with regional benchmarks, will broaden the tax base and eventually reduce the tax burden currently heavily carried by individuals through PAYE;

● The reduction of the corporate tax rate from 32% to 20% and zero-rating on VAT for approved Special Economic Zones (for up to 10 years) will encourage investments in projects aligned with national priorities of mineral beneficiation/value   addition, agro-processing and business process outsourcing. This intervention contributes to the government’s industrialisation agenda and drives further investments in the country;

● Limitation of assessed losses to a maximum of 10 years aligns with regional benchmarks and most importantly will ensure that large corporations will also contribute to the tax coffers, thereby broadening the tax base. This will also reduce the tax burden currently heavily carried by individuals through PAYE;

● The limitation of interest deduction to non-resident related parties is also an intervention that aligns with regional benchmarks. Aside from the obvious benefits of increased tax revenue and curbing transfer pricing challenges, this provision will also encourage corporations to source competitive financing mechanisms including sourcing local capital to finance investment projects;

● Increase in the tax threshold from N$50,000 to N$100,000 and an inflation adjustment of 2.5% means that many Namibians especially those in the lower income brackets will be able to have more disposable income which consequently contributes to economic growth;

● Investment in skills development through the Youth Employment Tax Incentive (My First Job) by contributing 50% towards the internship cost, limited to N$ 50,000 per annum per intern. This intervention will increase Namibia’s competitiveness as skills availability has been identified as the number one consideration for investors before making a final investment decision. The NIPDB is proud to partner with the Ministry of Finance and Public Enterprises to roll out this project on 01 April 2024.

The 2024/25 budget represents a pivotal move in sculpting a thriving Namibian economy and reaffirming the government’s commitment to inclusive prosperity.

About NIPDB:
The Namibia Investment Promotion and Development Board (NIPDB) is mandated to promote and facilitate investment by foreign and Namibian investors, and coordinate MSME activities across all levers of the economy, with the aim of contributing to economic development and job creation.

Issued by : Nangula Uaandja
Chairperson and CEO

Contact Person : Catherine Shipushu

Senior Manager: Marketing, Branding and Communications
Namibia Investment Promotion and Development Board
Telephone: +264 83 333 8636
Mobile: +264 81 127 9069
Email: catherine.shipushu@nipdb.com

Namibia Gearing Up for the 7th Nigeria International Energy Summit

Namibia is gearing up to make its mark at the upcoming 7th Nigeria International Energy Summit (NIES) in Abuja, Nigeria from 26 February to 1 March 2024. Led by the Minister of Mines and Energy, Honourable Tom Alweendo and supported by the Namibia Investment Promotion and Development Board (NIPDB), a business delegation with interests in participating in the upstream oil and gas services sector will be representing Namibia’s interests at this esteemed event.

The NIES has established itself as a prominent platform for African nations to engage with the global energy community, leveraging on the successes of previous editions to foster collaboration, knowledge exchange and investment opportunities. Namibia’s participation underscores its commitment to learning from Nigeria’s journey in energy development, particularly in unlocking local content creation and driving socio-economic growth.

A highlight of the summit will be the National Oil Companies (NOCs) Forum, which will bring together CEOs and key stakeholders from various African NOCs. Under the sub-theme “Sustainable Strategies for Energy Leadership: Navigating Security, Transition, and Finance in a Changing World,” this session is poised to shape the future of the energy sector across the continent.

On the sidelines of the summit, the NIPDB will host two key events:
NIES-Namibia B2B Forum 2024
Date: Wednesday, 28 February 2024
Time: 14:00 – 19:00
Venue: Abuja (Location to be confirmed)

The Business-to-Business (B2B) networking event aims to foster collaborations between Nigerian and Namibian businesses. By providing a platform for networking, knowledge sharing and partnership building, the forum seeks to promote market access, investment opportunities and technological advancements between the two countries.

Discussions will also focus on Namibia’s energy ambitions and investment opportunities in exploration. Through interactive sessions, participants will gain valuable insights into potential partnerships and avenues for growth.

Invest in Namibia Forum
Date: Thursday, 29 February 2024
Time: 09:30 – 13:00 pm
Venue: Abuja (Location to be confirmed)

This session will showcase Namibia as a premier investment destination across various economic sectors. Through presentations, panel discussions, and interactive sessions, the forum will highlight key sectors of interest and facilitate connections between potential investors and Namibian entities.

For inquiries and attendance, please contact:
Mr. Hafeni Motsi
Senior Energy Investment Analysis
hafeni.motsi@nipdb.com
+264 (0) 81 144 1476

Mrs. Theresa Sipiho
Investment & Export Promotion Attaché (Sub-Sahara Africa)
theresa.sipiho@nipb.com
+27664843005

NIPDB message of condolences following the untimely passing of H.E. President Dr Hage Gottfried Geingob

NIPDB message of condolences following the untimely passing of H.E. President Dr Hage Gottfried Geingob

On Sunday, 04 February 2024, the Namibian nation woke up to the painful news of the untimely death of His Excellency President Hage Gottfried Geingob, who passed away in a local hospital in Windhoek, surrounded by his wife and children.

The Namibia Investment Promotion and Development Board (NIPDB) hereby extends our most sincere condolences to President Geingob’s family and the rest of the Namibian nation.

President Geingob was a respected leader among his peers and the chief architect of Namibia’s constitution, which has remained the governing instrument and cornerstone of our democracy and political stability for over 30 years. In this difficult moment, we pay tribute to a visionary leader who embodied a palpable commitment to nation building, who led with humility and an enduring passion for the wellbeing of his people.

His Excellency Dr. Hage Geingob valued efficiency and stability. He has often emphasised that Namibia “is not a one-man show” and his legacy is rooted in his belief and ethos that Namibia is a country that is efficiently run through systems, processes and institutions. As we navigate this difficult time of transition, we assure our partners and stakeholders across the world of our commitment to upholding the legacy of President Hage Geingob and his commitment to the rule of law, transparency and accountability through efficient Government mechanisms.

Furthermore, we are honoured to serve H.E. President Dr. Nangolo Mbumba, who embodies the same principles and dedication as President Geingob, to advance Namibia as a viable investment destination. Namibia remains open for business, and the NIPDB’s mandate to promote and facilitate sustainable investments into the country, remains our enduring commitment and a fitting tribute to honour the legacy of our late president.

In this regard, we would like to assure all our stakeholders that the NIPDB’s operations will continue, with due sensitivity and respect to the current state of affairs in the country. In the coming days, we anticipate the government to make formal announcements pertaining to the national protocols to be observed during the period of mourning leading up to President Geingob’s funeral.

While we endeavour to maintain our usual level of service during this time, we request your patience in the event that disruptions are experienced, and we thank you in advance for your understanding.

Should you have any questions or concerns, please do not hesitate to contact:

Margareth Gustavo
Executive Director: Strategy & Branding
Phone: +264 (0) 83 333 8630
Mobile: +264 (0) 81 125 4359
Email: margareth.gustavo@nipdb.com

François van Schalkwyk
Executive Director: Investment & New Ventures
Phone: +264 (0) 83 333 8620
Mobile: +264 (0) 81 142 6216
Email: francois.vanschalkwyk@nipdb.com

Catherine Shipushu
Senior Manager: Communications, Marketing, Branding
Phone: +264 (0) 83 333 8636
Mobile: +264 (0) 81 1279069
Email: catherine.shipushu@nipdb.com

Issued by:
Nangula Uaandja
Chairperson and Chief Executive Officer

Thank you for uploading the document