Namibian cosmetics industry growing

04 May 2021 | Business

Namibia’s cosmetics industry has grown considerably, with 34 businesses currently exporting cosmetics products worth over N$100 million per year, according to trade minister Lucia Iipumbu.
She noted that steady growth has been experienced, especially in the export of ingredients and health and beauty end-products, with exports increasing from N$60 million in 2016 to over N$100 million in 2019, according to the latest figures available to the ministry.
“When we zeroed in on the cosmetics sector we started with four exporters; now we are at 34. We know the difference is huge in terms of what we export versus what we import, as our cosmetic imports stand at about N$3 billion a year, but we are making progress. There is a long way to go in reversing the situation, but we are taking baby steps.”
Iipumbu last week told Parliament the ministry, although slowly, recorded progress in other sectors and will continue to capacitate and assist local businesses to not only produce goods for local consumption, but also to export these goods.

Other exports
Iipumbu noted that progress was made in the charcoal industry, with Namibia recently exporting 350 tonnes of charcoal worth N$2 million to the USA. The ministry envisages that by September 2022, the country will be able to export charcoal worth N$650 million.
Iipumbu said the “Buy local, grow Namibia” campaign launched by the ministry last year aims to stimulate retailers and ensure that they reserve shelves for products made in Namibia.
“At the beginning of the campaign various retailers were sourcing approximately 20% of their stock from local producers but when the campaign was intensified, some of them went up to 60% in sourcing from the local producers,” the minister said.
She noted that there are retailers who are not yet on board, but the ministry is working on encouraging them to support the sale of local products. – Nampa

Similar News

 

Old Mutual under ‘10 strongest insurance brands’

10 hours ago | Business

The 2021 Brand Finance report has ranked Old Mutual in the top 10 strongest brands, as well as in the top 100 most valuable insurance...

AGOA strategy launched

2 days ago - 10 May 2021 | Business

US Ambassador Lisa Johnson earlier today joined trade and industrialisation minister Lucia Iipumbu at the launch of Namibia’s African Growth and Opportunity Act (AGOA) Utilization...

Knight Piésold celebrates a century

2 weeks ago - 22 April 2021 | Business

From its humble beginnings in South Africa on 1 April 1921, Knight Piésold has established and grown its local operations within Southern Africa, through its...

Sewing machines, fabric for NCS

3 weeks ago - 21 April 2021 | Business

Mulungushi Textiles & Importers recently donated overlock sewing machines and fabrics worth around N$100 000 to the Namibian Correctional Services. The Khomas & Hardap regions...

Future Females talk with Lynne Fraser

3 weeks ago - 19 April 2021 | Business

Windhoek • [email protected] a lot of hard work and dedication to manage human potential and educating people to masterbeing themselves, Lynne Fraser has earned her...

Post-budget event unpacks Namibia's fiscal sustainability

3 weeks ago - 18 April 2021 | Business

RMB Namibia held a post-budget event with clients in Windhoek and Swakopmund under the theme 'Unpacking Namibia’s fiscal sustainability trajectory.'Ruusa Nandago, FirstRand Namibia Economist talked...

Women seen in house buying market

3 weeks ago - 18 April 2021 | Business

The FNB House Price Index posted an annual growth of 3.5% year on year at the end of 2020 compared to -4.7% y/y recorded over...

New group CCO for Paratus

3 weeks ago - 15 April 2021 | Business

Paratus has appointed Martin Cox as its Group Chief Commercial Officer, bringing a wealth of experience as a founder shareholder of Neotel and Executive for...

VIP visit to local plastic manufacturer

4 weeks ago - 12 April 2021 | Business

Industrialisation and trade minister (MIT) Lucia Iipumbu recently paid a visit to Namibia Plastics and Packaging Distributors at their Brakwater plant on the outskirts of...

RCC on the streets

1 month - 09 April 2021 | Business

The Roads Contractor Company (RCC) was on Thursday evicted from a rented building owned by the Namibia Post and Telecom Holdings Limited (NPTH) for non-payment.RCC...

Latest News

Chill with Windhoek Express

7 hours ago | Art and Entertainment

Recurring events• 07:00 Bio-Markt / Green Market at the Stephanus Church (Dr Kenneth Kaunda Street) in Windhoek until 12:00.• 08:30 The weekly Inspire Market features...

Government in catch 22 on...

7 hours ago | Local News

While acknowledging that the majority of Namibians rely on the national broadcaster for information, Prime Minister Saara Kuugongelwa-Amadhila conceded that government cannot meet its employees’...

Murorua takes over BAN reigns

9 hours ago | Banking

The Bankers Association of Namibia (BAN) announced that Nedbank chief executive Martha Murorua has taken over the reigns as chair from Ester Kali, CEO of...

Bowling on a roll

9 hours ago | Sports

Namibia Bowling Association (NBA) president Michael Wells has expressed his pleasure at the improved performance of players at the recently held Namibia National Bowling Championships.The...

Virtual international training for local...

10 hours ago | Sports

Eight Namibian soccer coaches will take part in an international instructor’s course organised by the German Football Federation and Botswana Football Association to help improve...

Old Mutual under ‘10 strongest...

10 hours ago | Business

The 2021 Brand Finance report has ranked Old Mutual in the top 10 strongest brands, as well as in the top 100 most valuable insurance...

Fire safety measures every homeowner...

21 hours ago | Disasters

The recent blaze that unfolded along the Cape’s iconic Table Mountain was a reminder of the very real threat fire poses to homeowners. It is...

Conservancy feeds their own children

21 hours ago | Society

For a second consecutive year, members of the N≠a Jaqna Conservancy are using part of their income to provide food to all registered schools and...

More support of Nam’s sustainable...

21 hours ago | Infrastructure

Namibia’s finance minister Iipumbu Shiimi and German ambassador Herbert Beck signed an agreement on financial cooperation for loans between the two countries earlier this week.The...

Load More