NIPDB moving with Mbumba to preserve Geingob’s legacy
THE Namibia Investment Promotion and Development Board (NIPDB) has pledged to support and collaborate with President Nangolo Mbumba to ensure Namibia is well-represented at key investment-related events and platforms, as well as to increase marketing activities across relevant investment platforms.
“Former president Hage Geingob had a vision for Namibia. He believed that sustainable prosperity can only be achieved by developing a private sector-led economy and a strategic focus on attracting quality domestic and foreign direct investment (FDI), and also amplifying the country’s global presence as an investment destination,” NIPDB CEO Nangula Uaandja told New Era upon enquiry recently.
Namibia’s new leader, Mbumba, was sworn-in on 4 February 2024, hours after president Geingob passed away earlier that same day.
During his tenure, Geingob championed Namibia’s deliberate efforts to develop and sustain a conducive investment environment characterised by peace and stability, rule of law, as well as efficient systems, processes and institutions. His efforts are evidenced by the calibre of established, new and potential investors who continue to express interest to do business with Namibia, noted Uaandja.
Overall, Namibia received recordhigh FDIs in 2022 and 2023. FDI inflows in the second quarter (April to June) of 2023 amounted to N$13.5 billion as per Bank of Namibia data, the highest seen in over a decade.
“While we will miss him and his assuring presence, we always remember how he told us that Namibia is not a one-man show, and that it is a country governed by systems, institutions and processes. His mantra in this regard has helped us and the investors work with the various ministers and ministries in facilitating projects,” remembered the CEO.
In December last year, FDI Intelligence reported that Namibia was ranked 5th out of 50 countries which showed a strong momentum going into 2024.
This, Uaandja said, puts Namibia in an advantageous position to attract serious investors because strong FDI, coupled with macro-economic prospects, are some of the factors which increase a country’s attractiveness for investment.
Assurance
Geingob, an anti-apartheid activistturnedstatesman, passed away at the age of 82. His legacy is deeply intertwined with Namibia’s history.
“In this difficult time of mourning, we also understand that this tragic event may raise concerns and fear about the potential impact on investments in the country, across the spectrum from MSMEs to large-scale multinationals,” Uaandja shared.
She observed that Namibia values investors as key partners in catalysing economic development, hence ensuring that Namibia maintains a safe and conducive investment environment.
As the country navigates this difficult time of transition, the NIPDB assured its partners and stakeholders across the world of its commitment to upholding the legacy of Geingob, and his commitment to the rule of law, transparency and accountability through efficient government mechanisms.
“Namibia remains open for business, and the NIPDB’s mandate to promote and facilitate sustainable investments into the country remain our enduring commitment and a fitting tribute to honour the legacy of our late president,” guaranteed Uaandja.