Lazard willing to assist Namibia in development projects

28 Sep 2015 08:30am

By Maggy Thomas UNITED NATIONS, 28 SEP (NAMPA) - Namibia stands a great chance to attract capital that can help the country develop its infrastructure and other sectors of the economy, says Lazard Senior Advisor, Dr Ngozi Okonjo-Iweala.

Okonjo-Iweala, a former Nigerian Finance Minister, met with the Namibian delegation led by Minister of Economic Planning Tom Alweendo on Sunday in New York.

She indicated that Namibia has one of the best reputations on the continent for having a very good investment rating and good governance.

"The country has the chance to really attract capital that can help develop infrastructure and all other areas the country wants to develop," said Okonjo-Iweala.

Lazard is an international investment bank with principal offices in New York, Paris and London.

It is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services primarily with institutional clients.

The firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals.

"We are here to work with you and support you because with the reputation the country has, there is a strong chance that the country can attract money into its power, logistics, agriculture and tourism sectors, among others; projects can be presented in a way that will make them attractive to investors," she advised.

Okonjo-Iweala explained that Lazard works with governments to help them achieve what they want to achieve with their planning, projects and finances, and they are willing to assist and support Namibia in its developmental projects.

She was quick to point out that there are no specific areas they want to assist in, and it is up to the Namibian Government to be in the lead to present to investors what the government wants.

Namibia is making headway in its efforts towards the attainment of industrialisation and structurally transforming the economy. The country is also contemplating to construct major energy infrastructure, not only to bridge energy capacity but to become a major energy provider in the Southern African Development Community (SADC) region.

"We will be more pleased to assist you in our capacity as a trusted advisor in these crucial endeavours," she said.

The Namibian delegation informed Okonjo-Iweala on the current situation in the country, the government's vision to drive the country into the future and its social deficits such as unemployment.

Alweendo is part of Namibian President Hage Geingob's delegation to the 70th Regular Session of the UN General Assembly (UNGA 70) which opened at the United Nations- Headquarters on Tuesday.

The General Debate of the 70th Session of the UNGA will take place from Monday until 06 October 2015. Geingob is expected to deliver his maiden address to the 70th session of the UNGA on Tuesday.