Strong investor appetite continues for Namibian markets
Namibia attracted N$37.06 billion in FDI in 2024
A recent surge in inflows reflects growing global confidence in Namibia's stability and resources.
Namibia has emerged as Africa’s top destination for foreign direct investment (FDI), driven by record inflows and a coordinated national effort to link global capital with local development.Speaking in Nkurenkuru this week, Ndapewa Hangula, executive for investment and local content at the Namibia Investment Promotion and Development Board (NIPDB), said Namibia attracted N$37.06 billion in FDI in 2024 alone, bringing total inflows since 2021 to N$114.91 billion. This figure more than doubles the N$50.5 billion accumulated over the entire decade from 2009 to 2020. FDI as a share of GDP stood at an impressive 15.12% in 2024.
Hangula said the NIPDB, working closely with the Namibia Industrial Development Agency (NIDA) and other state institutions, has positioned Namibia as a credible and competitive investment hub.
“We promote Namibia and its regions for investment projects, working with state agencies, ministries and public enterprises depending on the sector,” she said.
Partnerships have been built with entities such as Namcor in oil and gas and Meatco in agriculture, while new regional investment committees are being established to identify and package opportunities at the local level.Critical resource
FDI is seen as central to addressing Namibia’s pressing socio-economic challenges, including 33.4% unemployment, high inequality and widespread poverty.
Projections show the country will need to create around 800 000 jobs by 2030, requiring investment on a scale beyond government budgets.
“That is why foreign direct investment is critical – it brings not only capital, but also technology, skills transfer and market access,” Hangula noted.
Priority sectors for investment include renewable and green hydrogen energy, oil and gas, agriculture, tourism, logistics, mining, and digital services. The NIPDB has introduced one-stop investor services to ease business registration, fast-track permits, and provide aftercare support.
Despite its progress, the board admitted gaps in infrastructure, high energy costs and policy constraints.
Hangula said these remain barriers to unlocking even greater flows of investment. However, she stressed that the recent surge in inflows reflects growing global confidence in Namibia’s stability and resources.
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