Investors attending the US-Africa Business Summit in Gaborone, Botswana, received assurances from Vice President Nangolo Mbumba that Namibia is prepared for business.
Mbumba, who is leading a high-level delegation to the summit, invited potential investors to the country to learn more about the possibilities for trade and investment in Namibia.
“On this fitting occasion of the US-Africa Business Summit, with its overarching goal to enhance bilateral and multilateral trade between the United States and African nations, I would like to reiterate that Namibia is open for business,” he said.
Mbumba also stressed the Namibian government’s continuous commitment to fostering a business-friendly environment during a side event by Namibia titled “Invest in Namibia.”
The side event focused on the most recent innovations and business prospects in Namibia’s burgeoning energy industry as well as other important industries including mining and agriculture.
Additionally, a number of speakers emphasised the Namibian government’s ongoing initiatives to improve the nation’s investment climate.
“We are doing this by removing legal or administrative impediments, and ensuring that our trade and investment landscape remains fit for purpose,” he said.
Mbumba explained to prospective investors that Namibia’s strategic location, backed by the world-class port in Walvis Bay, is one of the compelling factors that make the country a desirable investment destination.
He outlined how Namibia has access to the SADC market, the African market, and the rest of the globe from this port.
“Beyond this, we view our port as a primary tool to contribute towards building a stronger African economy,” he added.
Mbumba emphasised the enormous economic potential and prospects that are waiting to be taken advantage of. He said investors can be assured that there are reliable systems, procedures, and institutions in place to ensure a smooth investment process.
The government is deliberately removing barriers that affect how easy it is to conduct business in Namibia in order to ensure that it remains a desirable investment location, he pointed out.
He guaranteed investors of excellent governance, peace and political stability.
Regarding the oil and gas sector, Mbumba stated that Namibia has entered a new era as a result of the finding of sizable deposits by international firms TotalEnergies and Shell.
“These reserves have also opened up vast opportunities for investments and value chains that are awaiting to be exploited,” he indicated.
The Vice-President also maintained that Namibia is a country with enormous potential that presents prospects for trade and investment in other industries other than energy.
The US-Africa Business Summit, taking place under the theme “Enhancing Africa’s Value in Global Value Chains”, ends today.