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Namibia aims to attract Indian investment …promotes interest in mining, green energy

Namibia aims to attract Indian investment …promotes interest in mining, green energy

NEW DELHI – High Commissioner to India Gabriel Sinimbo said Namibia is actively seeking Indian investment in sectors such as mining, including diamonds, uranium, copper, zinc and rare earth elements.

These remain key due to the country being the third-largest global exporter of uranium.

Sinimbo shared these aspirations during an engagement with New Era in New Delhi, India.

He added that other areas India can tap into are the oil and gas industry, as exploration in the Orange Basin has revealed promising reserves.

“Namibia is also actively seeking Indian investment in oil and gas due to the exploration in the Orange Basin that has revealed promising reserves. Additionally, as far as agriculture and agro-processing are concerned, investment is encouraged in irrigation tech, food processing and seed innovation,” said the diplomat.

He noted that Namibia imports Indian generics in the pharmaceuticals and healthcare sector, and is exploring local manufacturing through joint ventures. Sinimbo stated that in information and communication technology and infrastructure, Namibia welcomes Indian partnerships, ranging from broadband expansion to smart transport corridors.

An analysis done by the High Economic Intelligence (HEI) Research reveals that India formed part of the top five countries that imported from. 

The 2024 value of the goods, products and services stood at N$714 billion. During May 2024, the manufacturing sector accounted for the largest share of Namibia’s exports, with basic metals and food products being the primary contributors. This underscores the sector’s significant role in the country’s export economy. 

“The mining and quarrying sector was the second-largest contributor, with products from other mining and quarrying activities leading the category. The agriculture, forestry and fishing sector ranked third among top exported products, driven predominantly by crop and animal production, hunting and related service activities,” highlighted HEI’s managing director Salomon Hei in the latest Trade Statistics Report.

He stated that the top five imports include petroleum oils, nickel ores and concentrates, precious stones (diamonds), motor vehicles for the transportation of goods and medicaments.

“This export composition highlights Namibia’s diversified economic base, leveraging its natural resources and manufacturing capabilities. Enhancing these sectors through innovation, increased productivity and value addition could further bolster Namibia’s export performance and reduce the trade deficit,” he said.

The report further states that Namibia recorded a trade deficit of approximately N$3.3 billion in May 2024, worsening from a N$3.1 billion deficit in April 2024. 

This persistent deficit indicates that Namibia remains a net importer. 

The largest contributor was petroleum oils, with a deficit of N$2.3 billion, underscoring the country’s vulnerability to global oil price fluctuations. 

This dependency could lead to increased transportation and production costs, contributing to inflationary pressures in the domestic market.

The Indian government stated that in 2024-25, the two-way trade was US$568 million. 

India’s exports were at US$327.21 million, with imports from Namibia amounting to US$241.19 million. 

Thus, sectors such as mining, energy, infrastructure development, health, education, agriculture as well as trade and investment offer potential for bilateral cooperation between the two countries.

-psiririka@nepc.cpm.na