Doing business with Namibia: a stable and reliable economy in Africa

Details on a virtual B2B event to be held in February 2021

Maltese enterprises have always demonstrated a clear interest in embracing internationalisation by seeking new overseas markets to grow their business further. Market research conducted by TradeMalta clearly indicates Maltese companies are increasingly interested in doing business in emerging markets, especially in Sub-Saharan Africa.

As a result of these market research findings, TradeMalta proceeded to foster close institutional links with a number of key countries in East, West and Southern Africa. The Republic of Namibia is a particularly interesting country in view of its ease of doing business, and its connectivity to wider markets in Southern Africa.

With a stable multiparty and multiracial democracy Namibia has an established market economy, with an average GDP growth of about $15bn or 4.84 percent in recent years. The Namibian dollar is pegged on a one-to-one basis with the South African rand.

Namibia provides a welcoming legal and policy framework for investors. This includes full protection of investment, no requirement for local partners, and a 100 per cent repatriation of profits. Moreover, English is the key language of business which facilitates networking opportunities with the business community. Namibia also ranks third in Africa in terms of safety and rule of law.

While Namibia has a relatively small population of only 2.2 million, it is very well connected infrastructurally, and provides excellent access to neighbouring markets such as Angola, Botswana and South Africa. Namibia is part of Southern African Development Community (SADC), a region that is home to a population of 300 million consumers.

Air Namibia flies daily to Frankfurt, but other airlines such as KLM, Eurowings, Qatar Airways, South African Airways and other international carriers also service Namibia. Major shipping lines include MAS, Maersk, and Ocean Africa Containers with onward regional connectivity through Walvis Bay Harbour. Further to this, road and train connectivity are outstanding thus enabling ease of movement of goods across Namibia and beyond.

The capital city Windhoek is recognised as one of the cleanest cities in Africa and the country is one of the first in the African continent to incorporate environmental protection in its Constitution.

Namibia’s key exports include diamonds, copper, gold, zinc, lead, uranium and foods (including fish, beer, meat and grapes). Its main imports are machinery, machinery components, and food.

Due to the travel restrictions currently in place, TradeMalta is focusing on virtual engagement activities whilst continuing to provide all the necessary information and services to support enterprises on their export journey.

TradeMalta therefore invites Malta-based businesses to join a virtual business-to-business (B2B) matchmaking event which will be held in collaboration with the Namibian government and business community. The event is targeted at businesses from multiple sectors of the Maltese economy seeking to establish or enhance commercial relationships in Namibia.

This online event is scheduled for February 16 and 17, 2021.

This event will provide an opportunity for direct business-to-business dialogue with Namibian counterparts. Companies are encouraged to register their interest for the event on the TradeMalta website: https://www.trademalta.org/ or by clicking on the register button below.

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Tags: internationalisation | Sub-Saharan Africa |