Namibia will launch its first export consignment under the African Continental Free Trade Area (AfCFTA) framework at Walvis Bay today, following months of delay and low interest.
The launch marks the commencement of Namibia’s active participation in the AfCFTA, which has a market of over 1.3 billion people and a combined gross domestic product (GDP) of approximately US$3.4 trillion (about N$60.6 trillion).
The launch is being facilitated by the Ministry of International Relations and Trade.
The AfCFTA is an African Union initiative under Agenda 2063, which aims to create a single continental market for goods and services. It offers Namibian businesses avenues to expand their market reach, enhance competitiveness, and contribute to economic growth and diversification.
“Namibia has demonstrated consistent commitment to the AfCFTA process. The country signed the agreement on 2 July 2018, ratified it on 25 January 2019, and deposited its instrument of ratification on 1 February 2019. In a significant move towards operational readiness, Namibia gazetted its AfCFTA tariff offer on 20 December 2024, thereby positioning itself to begin trading under the framework,” executive director of international relations and trade Penda Naanda says.
The ministry expects the initiative to open new trade opportunities for Namibian producers and exporters by reduced tariffs and streamlined trade policies, which, Naanda says, would facilitate greater competitiveness in the African market.
“It will also support the diversification of Namibia’s economy by stimulating growth in a range of sectors and contributing to job creation and industrial development,” he says.
Vistorina Nghifenwa, a policy analyst at the trade ministry, last month told The Brief that Namibia was targeting West Africa as the destination for its first consignment with a view of expanding its footprint in markets where it currently does not have trade agreements in place.
“Apart from West Africa, we are also looking at the southern African region and the Southern African Development Community in particular,” she is quoted saying.
She said the ministry had approached the Namibia Trade Forum to promote interest among local companies after only one company had expressed interest in taking part in the consignment.
