The Namibia Investment Promotion and Development Board (NIPDB) says it has N$224.7 billion in pipeline projects that are being held back by a lack of clear policies.
Oil and gas only accounts for 2.9% of these projects.
According to a report by Namibia Foreign Direct Investment, the barrier is a lack of clear policies to support investment incentives and ensure data protection, slow permit and licence approval processes, and land availability for investment purposes.
“We have seen an inflow of investment projects with the potential to create significant employment opportunities. However, many of these projects are struggling to materialise due various challenges,” the report reads.
NIPDB chief executive Nangula Uaandja in a statement says the majority of the projects are in agriculture and food processing, accounting for 27.23% of the pipeline’s value.
This is followed by metals, mining, and related industries representing 13.37%.
Renewable energy pipeline projects accounted for 26.24%
Meanwhile, tourism, hospitality and entertainment, digital and global business services, chemicals and basic materials, and property and housing accounted for 7.43%, 7.43%, 4.46% and 4.46%, respectively.
“To realise these investments and unlock jobs, Namibia must address land availability, finalise relevant policies and incentives, and streamline permit and visa issuance to ensure swift investment facilitation,” the report reads.
To address these bottlenecks, Uaandja recommends the establishment of a performance management system that includes delivery to the private sector and to citizens with specified turnaround times.
“There also has to be an inter-institutional ease of doing business/competitiveness committee and a deadline to deliver on the laws and policy changes proposed by the government,” she says.
Between 2022 and 2023, six NIPDB-facilitated projects have had groundbreaking ceremonies.
Collectively, these projects involve N$3.2 billion.
The projects are Cleanergy Solutions, Your Kitchen, the Northern Grape Project: Otjimbele Agriculture and Loxworth/ Namibia Berries, HyIron, and Benguela Blue Aqua Farming.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
