(3 minutes read)
The Namibia Investment Promotion and Development Board (NIPDB) invited American investors and funders to invest in the Namibian mining sector. NIPDB suggested forming partnerships, joint ventures, or strategic alliances with Namibian Exclusive Prospecting Licence (EPL) owners to develop their projects and mining operations. The board has conducted a series of investment promotion activities on the sidelines of the United Nations General Assembly (UNGA) concluded recently
The Namibia Investment Promotion and Development Board (NIPDB) invited American investors and funders to invest in the Namibian mining sector. NIPDB suggested forming partnerships, joint ventures, or strategic alliances with Namibian Exclusive Prospecting Licence (EPL) owners to develop their projects and mining operations. The board has conducted a series of investment promotion activities on the sidelines of the United Nations General Assembly (UNGA) concluded recently
The potential impact of large numbers of EPLs being developed is key to enabling the country to develop its mining project pipeline and preparing these projects for larger investments in the future. Systematically developing these rights will translate to creating more jobs in the sector and the wider economy, stated NIPDB Chairperson and CEO Nangula Uaandja.
Mining remains a strategic growth sector for Namibia, with significant contributions to GDP, taxation, and foreign earnings. In 2022, the mining sector accounted for 11.1% of the GDP. Further investment in this sector is thus central to growing the economy. Namibia currently has just over 700 EPL and mining claims owners.
In addition, meetings were held with potential investors and collaborative partners including the Cherie Blair Foundation. In contributing to discussions on pertinent global issues, the NIPDB further participated in the Planning for Climate Commission report launch organised by the Green Hydrogen Organisation – highlighting the key strategies required to make planning and permitting for renewable energy and green hydrogen projects faster and fairer.
While the Namibian economy recorded positive growth over the past two years, with a 4.2% growth rate in 2022, foreign and domestic investments remain the most viable levers that Namibia can pull to bring about sustainable economic growth and quality employment creation. Following the collective efforts of public and private sector stakeholders, Namibia is slowly reaping the results of persistent and deliberate investment promotion activities.
Read Also:
https://trendsnafrica.com/namibias-uranium-mining-production-poised-for-a-surge-in-2023/
https://trendsnafrica.com/namibia-the-best-place-to-mine-ceo-andrada-mining/
This is evidenced by data released by the Greenfield Foreign Direct Investment (FDI) Performance index, which measures FDI attracted in proportion to a country’s economy size, which ranked Namibia number one in Africa and 13th globally in 2022.
