Nida seeks N$200m for projects

The Namibia Industrial Development Agency (Nida) is looking to secure N$200 million to fund its integrated strategic business plan, its CEO Mihe Gaomab II announced.The agency identified 11 projects it intends to initiate, which range from agriculture and horticulture to aquaponics and textiles, among others.Chief financial officer Jeremiah Ntinda said funding would be spread over the business plan’s five-year implementation period.“We are projecting to at least have funding of over N$200 million, of which the first N$100 million will be for the first and second year and the other N$100 million for the remainder,” he said.According to Gaomab, negotiations are at an advanced stage with local financier for the money required.He, however, did not reveal how much the agency would finance off of its balance sheet or whether it would require government to guarantee the N$200 million on its behalf.“We are in concerted negotiations at an advanced stage to source the funds locally,” he said.Nida bucket listThe CEO added that the agency would look to utilise the money to fund about 22 functions under the Nida Act.“In the Nida Act, we’ve got about 22 functions that we would want to ensure at least two-thirds of this amount creates value addition.”Among the projects are: The establishment of a charcoal processing plant; a national cold storage facility; a logistics centre; a seed processing plant; the expansion of grape vineyards and date plantations; bush feed processing and pelletising; the establishment of aquaponics industry; the development of a garment centre, and the development of a crocodile farm and leather processing plant.“The projects are deemed critical and/or their implementation has mass positive multiplier effects for the rest of the economy and particularly for the areas that can catalyse the aspired transition towards Namibia’s industrialisation and socio-economic transformation,” the agency said in an implementation brief.It added that Nida would need to equip its special economic zones during the implementation period.

Nida seeks N$200m for projects

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Namibian Sun 2025-04-03

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Nida seeks N$200m for projects

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Namibian Sun 2025-04-03

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