Canadian investors urged to invest in Namibia

04 Mar 2014 13:30pm
By: Maggy Thomas
TORONTO, 04 MAR (NAMPA) – The Director-General of the National Planning Commission (NPC), Tom Alweendo has invited Canadian investors to come and invest in Namibia so that they can exploit the country's natural resources and add value to the products in order to stimulate local economic growth.
“Namibia has significant opportunities for investment. That is why we invite investors to be part of us and to form partnerships with us in our quest to become an industrialised nation by 2030,” said Alweendo on Sunday, speaking at a dinner function hosted by Dundee Precious Metals in honour of the Namibian business delegation visiting that country since Saturday last week.
He pointed out that Namibia is one of the youngest nations in Africa, and the country boasts a pleasant, peaceful, stable and growing business environment.
“After independence, we have been able to keep our peace and democracy and we have also managed to grow our economy at an average five per cent in past years,” he said.
Alweendo called on Canadian investors to form partnerships with Namibian businesspeople and to explore the significant investment opportunities which the country has to offer.
“Namibia has an abundance of natural resources and investment opportunities exist in the mining, fishing and agricultural sectors. Come and form joint ventures with Namibian companies in diverse areas of interest, such as mining, manufacturing and mineral beneficiation,” he urged the investors.
The NPC chief also indicated that currently, Africa is an investment destination and Namibia wants to get its share of the investors who are planning to come and invest in the continent.
Canada, he noted, is an important investor in mining, which is a leading sector of the Namibian economy.
Major foreign direct investment (FDI) by Canadian companies in Namibia includes B2Gold Corporation, Dundee Precious Metals and Eco Atlantic Oil and Gas Limited.
For the past years, Canada has imported uranium valued at over US.dollars 246 million (approximately N.dollars 2,4 billion) from Namibia.
The Namibian business delegation, led by Prime Minister Dr Hage Geingob, arrived in Toronto on Saturday afternoon for a three-day official visit to that country.

The business delegation held several business meetings and visited a number of business entities in Canada.
The Namibians are expected to attend the official opening of the Canada Mining Conference and Expo on Tuesday before they leave for the United States of America (USA) in the afternoon.