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Namibia’s long-awaited overhaul of its investment regulatory framework is moving into its final stages, with the Ministry of International Relations and Trade (MIRT) announcing that the revised Investment Promotion Bill is expected to be tabled in Parliament in March 2026. The update was provided during a national consultation session, where MIRT Deputy Director Angela Pretorius outlined progress on the legislative review.
Namibia has been operating without an updated investment law for more than ten years. Over this period, investors and domestic enterprises have highlighted persistent uncertainty around incentives, regulatory obligations and processes, especially in sectors intertwined with mining, petroleum and competition policy. The reform is part of Namibia’s broader ambition to strengthen its investment climate, align with African regional economic frameworks and make the country more competitive in attracting quality investment.
Pretorius explained that the ministry is currently reviewing all written submissions gathered through consultations with private sector players, government ministries, agencies and other stakeholders. After incorporating the final inputs, the revised draft will be submitted to the Cabinet Committee on Legislation (CCL) for scrutiny. She stressed that this stage is vital because the bill intersects with multiple pieces of legislation, including those governing trade, mining and energy. Ensuring coherence across these areas is necessary to avoid conflicts or regulatory gaps.
The proposed legislation introduces a firm monitoring and evaluation mechanism, as well as clearer procedures for handling disputes between investors and the state. Pretorius emphasized that the bill is deliberately aligned with regional frameworks such as the African Continental Free Trade Area (AfCFTA) and its Protocol on Investment, reinforcing Namibia’s commitment to continental economic integration. According to her, the bill will provide greater predictability to both local and foreign investors. She noted that the absence of a modern investment law has historically contributed to uncertainty around rights, obligations and incentives—factors that can deter long-term investment.
Consultations also surfaced concerns from small and medium enterprises (SMEs), many of which fear displacement by larger foreign firms with deeper financial resources. Pretorius said the bill addresses these fears through mechanisms that allow for sector designation, essentially tools that enable the government to reserve or regulate specific sectors to protect domestic businesses, particularly SMEs.
The draft regulations accompanying the bill outline a more coherent and transparent incentive regime. Among the key proposals are:
- Creation of an Incentives Committee to design and oversee tax and non-tax incentives.
- Streamlined permitting processes for qualifying investments.
- Targeted support for high-impact or strategic projects.
- Requirements for skills transfer, local participation and domestic value addition.
Pretorius added that the criteria for designating sectors or business activities will be determined through broad stakeholder consultations and subject to periodic review. The regulations also detail procedures for applying for investment approval, changes in ownership and appealing ministerial decisions through the High Court.
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While the bill aims to promote clarity, some stakeholders have voiced concerns about the level of discretion granted to the minister responsible for trade and investment. Rowland Brown, co-founder of Cirrus Capital, cautioned that without adequate checks and balances, ministerial discretion could itself become a source of uncertainty. He advocated for clearer safeguards, stricter timelines and more transparent decision-making processes. Other participants warned that new processes introduced by the bill may unintentionally create additional layers of bureaucracy, especially if they overlap with existing sector-specific regulations. Of particular concern are possible approval delays—up to 90 business days, with extensions—something that could jeopardise large investments in industries that operate in fast-paced global markets.
Private sector representatives also urged the government to strengthen the bill’s alignment with established legislation. Ensuring compatibility with acts such as the Competition Act, Mining Act and Petroleum Act is essential to prevent duplication, legal contradictions or administrative confusion.