‘Investors have nothing to fear’
Namibia’s smooth leadership change after the passing of president Hage Geingob will assure the global and local investor community that the country remains an attractive investment destination.
This according to High Economic Intelligence managing director Salomo Hei, who said the seamless and prompt shift to President Nangolo Mbumba and Vice-President Netumbo Nandi-Ndaitwah on Sunday, as stipulated by the constitution, will enhance investor trust in Namibia's commitment to upholding the rule of law.
Independent economist Dr Omu Kakujaha-Matundu is also confident that Geingob’s death will not affect investor sentiment.
“The business community should take comfort in [the fact] that Namibia is a country governed by the rule of law and I foresee no change in any laws that will affect the business community adversely. So, local or international investors who planned to invest in Namibia have nothing to fear,” he said.
‘On ice’
Institute for Public Policy Research (IPPR) executive director Graham Hopwood said it Mbumba will likely “not rock the boat with new policies and sudden changes”.
Namibia’s new head of state will rather see out the late president's term by focusing on Geingob’s priorities - such as his green hydrogen ambitions and the completion of the Harambee Prosperity Plan.
“With the election approaching, parliament will have little time to deal with major new pieces of legislation after the budget has been passed,” he said.
He expects controversial bills like the new investment law and National Equitable Economic Empowerment Framework (NEEEF) to “remain on ice”.
“Many investors, rather than worrying about the Mbumba presidency, are looking ahead to the election and wondering about what kind of leadership and policies will emerge in 2025,” Hopwood added.
Boom
Namibia is experiencing a boom in foreign direct investment, mainly due to mining, exploration and green hydrogen developments.
Cirrus Capital’s database shows that nearly N$24.6 billion flowed into the country in gross fixed capital formation (GFCF), or investments, in the first nine months last year.
For the same period in 2022, the figure was about N$18 billion. At the end of the third quarter of 2021, GFCF was some N$16 billion. From 2015 to 2021, investment in Namibia declined.
This according to High Economic Intelligence managing director Salomo Hei, who said the seamless and prompt shift to President Nangolo Mbumba and Vice-President Netumbo Nandi-Ndaitwah on Sunday, as stipulated by the constitution, will enhance investor trust in Namibia's commitment to upholding the rule of law.
Independent economist Dr Omu Kakujaha-Matundu is also confident that Geingob’s death will not affect investor sentiment.
“The business community should take comfort in [the fact] that Namibia is a country governed by the rule of law and I foresee no change in any laws that will affect the business community adversely. So, local or international investors who planned to invest in Namibia have nothing to fear,” he said.
‘On ice’
Institute for Public Policy Research (IPPR) executive director Graham Hopwood said it Mbumba will likely “not rock the boat with new policies and sudden changes”.
Namibia’s new head of state will rather see out the late president's term by focusing on Geingob’s priorities - such as his green hydrogen ambitions and the completion of the Harambee Prosperity Plan.
“With the election approaching, parliament will have little time to deal with major new pieces of legislation after the budget has been passed,” he said.
He expects controversial bills like the new investment law and National Equitable Economic Empowerment Framework (NEEEF) to “remain on ice”.
“Many investors, rather than worrying about the Mbumba presidency, are looking ahead to the election and wondering about what kind of leadership and policies will emerge in 2025,” Hopwood added.
Boom
Namibia is experiencing a boom in foreign direct investment, mainly due to mining, exploration and green hydrogen developments.
Cirrus Capital’s database shows that nearly N$24.6 billion flowed into the country in gross fixed capital formation (GFCF), or investments, in the first nine months last year.
For the same period in 2022, the figure was about N$18 billion. At the end of the third quarter of 2021, GFCF was some N$16 billion. From 2015 to 2021, investment in Namibia declined.
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