Namibia showcases vast investment potential at US-Africa Business Summit

By Maggie Forcelledo Paz

Bringing together government and private sector representatives from across the African continent and the United States of America (USA), the US-Africa Business Summit in Luanda, Angola served as a platform for Namibia to showcase its investment potential, strengthen bilateral trade ties, and engage key stakeholders in priority sectors such as energy, logistics, green hydrogen and sustainable development. The summit was hosted by the Corporate Council on Africa (CCA) and the government of the Republic of Angola, under the theme “Pathways to Prosperity: A Shared Vision for U.S.-Africa Partnership”.

Speaking at the Invest in Namibia session, President Netumbo Nandi-Ndaitwah assured investors that Namibia is open and ready for investment for both local and foreign investors. “For the foreign investors, your space is more in major industries such as minerals extraction and value addition, while sectors such as retail among others could be left to the small local businesspeople to allow them to grow to the levels where they could also invest outside Namibia,” she said.

 

The president reminded attendees of the high unemployment rate in Namibia, currently standing at 46%, and emphasised the need to address this issue as a matter of urgency to ensure that Namibia continues to be a competitive and attractive destination for investment.

She stressed that inclusive economic growth must be at the centre of all investment efforts, noting that creating decent jobs for the Namibian people, especially the youth, is key to unlocking the country’s full potential. On the topic of energy, the president highlighted that Namibia is capturing the attention of the global energy community thanks to its recent oil and gas discoveries and its abundant clean, renewable energy sources – a critical foundation for the production of green hydrogen.

She noted that these developments not only position Namibia as a future energy hub, but also place the country at the forefront of global efforts to decarbonise and combat climate change.

Imports and exports

Shared prosperity is better enjoyed than one-sided prosperity. These were the sentiments of Dr Nangula Uaandja, CEO of the Namibia Investment Promotion and Development Board (NIPDB). “Africa will not only be a source of talent for the future, but it will also be a source of consumption,” said Uaandja.

Namibia’s global exports increased to US$6.5 billion in 2024 from US$4.7 billion in 2019. Imports have also seen an increase from US$6.2 billion in 2019 to US$8.8 billion in 2024. According to Uaandja, Namibian exports to African countries increased substantially, doubling between 2020 and 2024, noting that Namibia has been ranked second in the Standard Bank Africa Trade Barometer for overall trade potential. In terms of Namibia-US trade, exports to the US in 2024 stood at US$345.4 million while imports from the US stood at US$563 million. China has remained the largest shareholder of foreign direct investment (FDI) stock over the years at 30% followed by South Africa with just over 22%. The US and UK, however, are tied as the fifth largest source of FDI for Namibia, standing at 3.7%. “Although the overall US foreign direct investment to the world has decreased, their investment in Africa has increased. Therefore, Namibia has the potential to attract more US investments,” Uaandja added.

Why Namibia?

The opportunities are endless! Namibia has an abundance of natural resources and is rich in minerals such as uranium, diamonds, gold, lithium, copper, zinc, rare earth elements, fish stocks and arable land that offers vast potential across mining, agriculture etc. Its political and economic stability boasts a strong record of democratic governance, rule of law and sound macroeconomic policies, creating a secure and predictable environment for investors. Namibia’s strategic location offers direct access to international shipping routes via the port of Walvis Bay. Boasting an investor-friendly regulatory framework, Namibia supports private sector growth through transparent laws, investor protection and an improving ease-of-doing-business environment.

With a population of three million, Namibia is becoming a global frontrunner in green hydrogen and renewable energy, offering significant investment opportunities in solar, wind and sustainable energy infrastructure. As a member of the Southern African Customs Union (SACU), SADC and the African Continental Free Trade Area (AfCFTA), investors have access to regional and continental markets. With a youthful and adaptable workforce supported by institutions dedicated to skills development, Namibia offers investors a future-ready pool well-suited for innovation and growth in emerging sectors.

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