Investing in Namibia
Investing in Namibia
Why invest in Namibia?
Namibia is often described as Africa’s optimist –and with good reason. Not only does it enjoy one of the continent’s most pleasant, peaceful and politically stable environments, but also an infrastructure to rival many developed countries.
Namibia has an abundance of natural resources, among them, a wide range of mineral deposits including world class diamonds and uranium, copper, lead, zinc, gold, semi-precious stones, industrial minerals, salt and fluorspar.
Namibia has rich fishing grounds, with their stock of both demersal and pelagic species, which place the country among top 10 nations in the international fishing sector.
Namibia’s agricultural sector is also imperative to the country’s economy with a thriving red meat industry and the cultivation of crops such as maize, wheat, pearl millet, groundnuts, beans and cotton.
Namibia’s Tourism sector continues to be a booming industry.
Namibia has preferential trade links to the 190 million inhabitants of the Southern African Development Community (SADC) as one of the 14 member states.
Namibia belongs to the Southern African Customs Union (SACU) affording duty and quota free access to the South African market and others.
Namibia is signatory to the Cotonou Agreement, giving duty free access to the European Union for a wide range of manufactured and agricultural products.
Namibia has duty and quota free access to the lucrative US market under the Africa Growth and Opportunity Act (AGOA).
Namibia offers among the attractive fiscal incentives in Africa via its Export Processing Zone (EPZ) regime.
Namibia has a wealth of attractions and advantages for foreign-owned companies looking for business opportunities.
Namibia has an advantageous legislative and fiscal environment and a government keen to foster the engines of economic growth and prosperity.
Investment Admission Process
- Two Passport –type photographs of each applicant;
- Highest Educational Qualification;
- Previous work references;
- Police work references;
- Marriage Certificate;
- Proof that the position was advertised [Copy of advert to be attached];
- A motivating letter providing a synopsis of applicant;
- Comprehensive business proposal [Business Plan];
- Proof of financial resources/bank statement, list of assets, equipment and machinery imported into Namibia, audited reports;
- Proof that the business was registered in Namibia [Copy of registration certificate as well as share certificates to be attached];
- Copy of lease agreement of business premises or proof of ownership of business property;
- Copy of CV
- N$80.00 handling fees to be paid at the Ministry of Home Affairs and Immigration
Forms to be completed:
- Main application form;
- Radiological report;
- Medical report;
- Deed of surety/Repatriation
- Representation by employed/Work offer [employees only];
- Business questionnaire [all business people];
- Multiple visa entry form;
- Outline for business plan;
- Payable fees.
Side Bar information
Population: (2011) 2.32 Million
Population growth rate:(2011)1.8%
GDP (2011): US$12.30 Billion, GDP Growth rate (2011): 3.8%
GDP per capita (2011 est.): US$4700
Key Economic Sectors/GDP (2011): 7.5% Agriculture, 19.6% Industry, 72.9% Services
Main Exports (2008 – 2011): Minerals, Fish and Fish Products, Live Animals, Meat and Meat Products
Main Export Destination: South Africa, United Kingdom, Angola, Canada, United States, Spain, Switzerland, Japan, Germany, Italy, France
Main Source of imports: South Africa, India, Japan, China, United Kingdom, Netherlands and Germany
Budget Deficit (2011/2012): 9.8%of GDP
Inflation (2011): 5.6%
For more information, kindly visit the Ministry of Industrialization, Trade and SME Development website. http://www.mti.gov.na/invest.html