Namibian President Hage G. Geingob will host the Namibia Investment Summit at the United Nations General Assembly in New York City today.
Investors interested in doing business with Namibia are invited to attend and participate in bilateral business and private sector-government meetings. The country is becoming a popular option for foreign direct investment (FDI), given its rich mineral resource supply and high political will to increase agricultural productivity. The Namibian energy sector is also booming with high-profile green hydrogen projects and a major off-shore oil reserve discovery this year.
In the wake of the Ukraine war and global supply chain shortages in wheat and oil, Namibia is becoming a valuable asset in the pursuit of international economic recovery via subsidization of global agriculture and energy production. Higher petroleum prices as a result of the Russia invasion have pushed oil-dependent states to consider fuel-alternatives such as green hydrogen. Foreign interest in clean energy is expected to increase FDI in Namibia by roughly thirty percent from $394.1 million USD recorded in 2021.
As Namibia supplies goods in high demand internationally, the Summit will allow trade partners like China, Russia, and European Union countries to stake further claim in the Southern Africa markets.
Keely is an Analyst with regional expertise in Sub-Saharan Africa. A weekly contributor to the Daily Brief, she specializes in conflict dynamics and geopolitics in West and Central Africa.