NIPDB defends residency plan for wealthy foreigners

Namibia Investment Promotion and Development Board (NIPDB) CEO Nangula Uaandja has staunchly defended a proposed &#039;golden visa&#039; programme, a scheme that could offer wealthy foreign investors permanent residency in the country in exchange for capital investments.Addressing growing concerns about the controversial proposal, Uaandja said the golden visa is not about selling the country’s farmland to foreigners, but about driving new capital into the economy.“One key reason why we proposed this is the urgent need to inject capital into the economy. Whether it’s micro, small and medium enterprises [MSMEs] or larger projects, the main barrier is access to financing,” she said on Network TV’s The Agenda, airing this Sunday.She stressed that Namibia currently lacks the type of investment required for high-risk, high-reward ventures, which are vital for economic growth. “Most of the money we have in Namibia comes from banks, which can be quite costly, or from the [Government Institutions Pension Fund], which is pension money. What we are missing is risk-taking capital - venture capital. That’s why we designed the golden visa programme,” she said.She added that the initiative targets two main groups, namely individuals with the capital to invest in the country’s growth sectors and those with the expertise to help diversify the economy.“Our economy is heavily reliant on raw agricultural products, tourism and minerals. To diversify and produce more complex goods, we need people with the skills and research and development capacity that we currently lack. We are no longer in a village. This is a global economy. People we sometimes don’t initially consider essential can contribute to our economy in significant ways,” Uaandja said.“We must be deliberate in inviting people who bring us the skills and capital we need. Let us welcome non-Namibians, but on our terms, with clear goals in mind.”Strict criteriaDespite the public controversy, Uaandja reassured Namibians that the golden visa programme is not about giving away land or resources, but about aligning foreign investment with national development goals.“We have strict criteria. When someone applies for residency under the golden visa, we evaluate them based on what they will contribute to the economy, including investment size, job creation, contributions to the treasury and corporate social responsibility,” she said.“The programme is still under development, with the NIPDB working closely with the ministry of home affairs and immigration to establish a suitable framework. There has been no blanket recommendation for granting visas to specific categories of people. Each case is evaluated individually. For instance, recent media reports about individuals investing in Namibia and purchasing property involve cases where we communicate with home affairs and recommend issuing the appropriate permits,” she explained.Uaandja added that the golden visa proposal will be presented to Cabinet for approval soon.“Once approved, we will market the programme and assess applicants based on clear criteria. Currently, we evaluate potential contributions when individuals express interest in Namibia and recommend them to the ministry for residency or work permits if they meet our standards.”Leaked letterIn July, The Namibian reported on an internal investigation launched by the home affairs ministry following the leak of a letter about the golden visa proposal.According to the publication, a high-level meeting led to the confiscation of officials&#039; phones to identify the source of the leak. This followed an article suggesting that NIPDB had advocated for granting wealthy foreigners permanent residency in exchange for purchasing Namibian farms.The letter in question was sent by Uaandja to the executive director of the ministry, Etienne Maritz, on 16 July.nikanor@erongo.com.na

NIPDB defends residency plan for wealthy foreigners

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Namibian Sun 2025-07-03

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NIPDB defends residency plan for wealthy foreigners

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Namibian Sun 2025-07-03

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