Namibia… A Gem Worth Investing In!

Investment

The Namibian Government under its five year medium term Fourth National Development Plan (NDP4) of Vision 2030 launched in 2012, identified four Priority Sectors and five enablers to deliver job creation, reduce income inequality and achieve sustained economic growth.

The four Priority Sectors are Agriculture & Agro-Processing, Manufacturing, Logistics and Tourism. The enabling sectors that relates to investment  are Infrastructure, Health, Education and Skills Development and Energy. While more resources are allocated in identifying, researching, developing and packaging investment opportunities in the targeted sectors, other sectors such as Mining, Filming and ICT are equally important for domestic and foreign investment.

Starting a Business in Namibia

Investor considerations

  • Dividend or profit transfers are controlled but not restricted.
  • Subsidiaries and local branches are treated as residents.
  • N$4,000,000 is allowed to be transferred abroad by individuals.
  • Restrictions on local financial assistance is limited where there is foreign ownership (Affected Person / EPZ status).
  • Foreign Capital introduced into Namibia may be repatriated to its country of origin.
Minimum Conditions of Employment

Legitimate Working Hours per Day

  • Normal working hours should not exceed 45 hours a week, except for security guards where maximum of 60 hours a week applies.
  • 5 days working week not exceeding 9 hours a day.
  • 6 days working week not exceeding 7.5 hours a day.
  • Casual employees not exceeding 9 hours a day and two days a week.
  • Shift workers, maximum 7.5 hours per shift.

Wage Rates

Namibia has minimum wages for domestic workers, security guards, farm workers and construction workers. All wages are quoted in Namibian dollars (N$). The basic wage rates vary according to the location, its structure as well as industrial sector. In addition to salaries, most companies provide fringe benefits to its employees depending on the employee’s category in terms of position ranking.

Banks / Regulatory Framework

Namibia has a well-established banking system which is regulated by legislation and by state agencies working through the country’s central bank, the Bank of Namibia.

Bank of Namibia
www.bon.com.na

Bank Windhoek Limited
www.bankwindhoek.com.na

First National Bank of Namibia Limited
www.fnbnamibia.com.na

Nedbank Namibia Limited
www.nedbank.com.na

Standard Bank of Namibia Limited
www.standardbank.com.na

Business Hours: 08h00 – 17h00 Government
Commercial Banking Hours: 09h00 – 15h30

Regulatory Framework
The Foreign Investment Act of 1990 is currently under review and will be replaced by the Namibia Investment Act, which will include both foreign and domestic investment regulation.

Accounting Firms

PricewaterhouseCoopers
www.pwc.com.na

Deloitte and Touch
www.deloitte.com

Ernest and Young
www.ey.com

KPMG
www.kpmg.com/na

BDO
www.bdo.com.na

SGA
www.accountantsauditorsnamibia.com

Grand Namibia
www.grandnamibia.com

PKF
www.pkf.co.na

CR Van Wyk
www.crvanwyk.com

Special Incentives for Manufactures, Exporters and EPZ Enterprises

Investment Opportunities

Agriculture and Agro-processing

  • Crop Production
  • Feedlot
  • Fertilizer
  • Animal Feed
  • Other

Manufacturing

  • School Uniform Manufacturing
  • Scrap Metal Beneficiation
  • Automotive Accessories
  • Marble and Granite Processing
  • Other

Logistics and Transport Infrastructure

  • Truck port – Walvis Bay
  • Warehousing – SDI corridors

Tourism

  • Tourist Tented Camp – JV Opportunity

Education and Training

  • Artisan Skills Colleges
  • Independent Schools

Energy

  • Renewable Energy (solar)

Health

  • Pharmaceuticals
  • Private Hospitals
  • Public Private Partnerships

Information, Communication and Technology

  • Innovation and Technology – All sectors
  • Smart governance/e-governance

Enquire on a Specific Investment Opportunity

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