Opportunities in Namibia are on the uptick despite headwinds. This has been particularly noticeable in the Foreign Direct Investment (FDI) sector in Namibia. This is an encouraging reversal from the outflows in 2018 to early 2021.
According to UNCTAD’s 2022 World Investment Report, FDI flows to Namibia accounted for USD412 million in 2021, compared to a negative flow of USD one year earlier. This increased in the second quarter of 2023 to N$13 billion in net FDI into Namibia, which equates to 22.2% of Gross Domestic Product (GDP).
The sectors that have been attracting the most FDI in Namibia include mining, tourism, agriculture, and infrastructure development. In particular, the country’s mining sector has been a major recipient of FDI, with foreign investors attracted by mineral resources in this Tier 1 mining jurisdiction.
Our Namibian office, Bravura Namibia has assisted Oribi Group with the funding and structuring of an agriculture initiative that will see the establishment of multiple aquaponic, aeroponic and hydroponic farms across Southern Africa. Seed funding was successfully raised for the first aquaponic project in Okahandja, Namibia.
The Oribi Group has subsequently become a key supplier to Namibia’s major retail distributors, offering an array of fresh produce including various salad pillow packs designed for extended shelf life (including baby spinach, washed spinach and an assortment of herbs). Notably, the Oribi Group stands out as one of the few high care facilities in Namibia, employing cutting-edge cold chain innovation to significantly extend the shelf life of their products.
Bravura Namibia is proud to be the advisor to Oribi, enhancing sustainability and high quality produce to Namibia. Bravura will assist Oribi Group with the establishment and funding of at least another 4 to 5 projects within the next 5 years.