Chinese Tycoon invests N$33m in Nam retail business

LIN’S Investments and the Rainbow Import and Export companies, both owned by Jindan Lin, have invested over US$5 million (N$33,1 million) in Namibia’s retail sector over the last seven years.

Genie Marketing Concepts (GMC) and Lin’s Investments have recently entered into several marketing contracts totalling N$6 million over 2 years. According to Lin, who was in the country on Monday, explained that from 1997 to 2000 the companies focused on import and export, wholesale warehousing and established 10 chain retail stores in Namibia.Although Lin said the Namibian market was small, he said there was space for development and that business was fine.He added that Lin’s Investments already has warehouses in Botswana and South Africa.More recently the group has moved into assembly and packaging Chinese commodities for the local market as well as manufacturing mattresses and other consumer items.Lin employs about 150 Namibians across the country.Tony Mbok of GMC said Lin had contracted his company to promote Rainbow soap, Rainbow dish-washing liquid and Win cigarettes specifically, with other contracts pending.Mbok said Lin’s Investments also had a cellotape factory in Windhoek and intends to build a cigarette factory where Win cigarettes will be manufactured.For this purpose the Namibia Cigarette Plant cc has been set up by Lin’s Investments already.The tobacco will be imported from China if trials prove successful.According to Mbok, his company is already busy with extensive surveys and taste tests to research the local market and implement their concept marketing plans.Genie Marketing has only been registered in Namibia since late 2003, as a branch of Minvestco Group from the United States of America.Minvestco has been entering Africa since 2000, explained Mbok.Johannes Nekundi is the managing director of GMC and the company has representatives in Windhoek, Walvis Bay, Keetmanshoop and Ondangwa.According to Lin, who was in the country on Monday, explained that from 1997 to 2000 the companies focused on import and export, wholesale warehousing and established 10 chain retail stores in Namibia.Although Lin said the Namibian market was small, he said there was space for development and that business was fine.He added that Lin’s Investments already has warehouses in Botswana and South Africa.More recently the group has moved into assembly and packaging Chinese commodities for the local market as well as manufacturing mattresses and other consumer items.Lin employs about 150 Namibians across the country.Tony Mbok of GMC said Lin had contracted his company to promote Rainbow soap, Rainbow dish-washing liquid and Win cigarettes specifically, with other contracts pending.Mbok said Lin’s Investments also had a cellotape factory in Windhoek and intends to build a cigarette factory where Win cigarettes will be manufactured.For this purpose the Namibia Cigarette Plant cc has been set up by Lin’s Investments already.The tobacco will be imported from China if trials prove successful.According to Mbok, his company is already busy with extensive surveys and taste tests to research the local market and implement their concept marketing plans.Genie Marketing has only been registered in Namibia since late 2003, as a branch of Minvestco Group from the United States of America.Minvestco has been entering Africa since 2000, explained Mbok.Johannes Nekundi is the managing director of GMC and the company has representatives in Windhoek, Walvis Bay, Keetmanshoop and Ondangwa.