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Namibia clocked an impressive USD 400 million foreign direct investment (FDI) in the second quarter of 2023 against USD 330 million in the previous quarter. Namibia Investment Promotion and Development Board Chairperson and Chief Executive Officer Nangula Uaandja stated that the growth speaks volumes about the country’s rising stature as a favoured destination for international investors.
Namibia clocked an impressive USD 400 million foreign direct investment (FDI) in the second quarter of 2023 against USD 330 million in the previous quarter. Namibia Investment Promotion and Development Board Chairperson and Chief Executive Officer Nangula Uaandja stated that the growth speaks volumes about the country’s rising stature as a favoured destination for international investors. Namibia’s performance in attracting FDI is not only an economic achievement but also a demonstration of the nation’s growing appeal to global investors. The surge in FDI positions Namibia as a prominent player on the global stage, further validating its reputation as an attractive hub for foreign investments.
According to the most recent FDI Greenfield Index, Namibia secured its place as the leading African nation for FDI inflows last year, marking a pivotal moment in the nation’s economic growth. The country, closely followed by Rwanda and Kenya, is among the 10 countries featured, while Egypt and Tanzania ranked at the bottom as the lowest-scoring countries. Namibia emerged as a standout performer in the FDI Greenfield Index, securing a remarkable 13th position among countries such as Costa Rica, North Macedonia, and the UAE.
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The research conducted by investment advisory firm Cirrus Capital revealed that Namibia has the potential to generate over N$500 billion in revenue in the coming decade through taxes and royalties from the oil sector, with the Ministry of Mines and Energy anticipating the government to collect 55% of all revenues generated from oil.
