Africa-Press – Namibia. NAMIBIA has secured foreign direct investment (FDI) worth N$13,5 billion (US$735 million) in the last seven years.
This was announced by minister of international relations and cooperation Netumbo Nandi-Ndaitwah last week while motivating her ministry’s N$932,8-million budget for the next financial year.
The next financial year starts on 1 April and runs until 31 March 2024. Nandi-Ndaitwah said this amount was attracted as a result of the ministry’s promotion of economic diplomacy and mutually beneficial bilateral relations. “This explains why the year 2022 recorded the biggest FDI of US$735 million since 2015, and FDI reinvestment of US$128 million – the highest since 2018. “Though we know much of this may be due to mineral exploration, it may have a long-term impact on the growth of the economy,” she said. Meanwhile, the country has spent N$53,4 million (U$2,9 million) on the Southern African Development Community (SADC) mission in Mozambique (Samim). The insurgency by Isis-linked militants in Mozambique has killed about 4 000 civilians and displaced nearly one million people, a United Nations agency has stated.
“Namibia has military, police and civilian personnel assisting the head of Samim as our contribution to maintaining peace and security within our region. “We have also made a financial contribution of about U$2,9 million towards Samim since July 2021,” the minister said.
MEMBERSHIP FEES
Furthermore, Namibia is a member of 82 international and regional organisations requiring membership fees.
The country pays over N$200 million annually in fees to international organisations.
The ministry has allocated N$99,9 million to membership fees.
“The ministry continues to encourage Namibians to seek employment at these international organisations to gain the necessary experience that will eventually assist in the development of our country,” Nandi-Ndaitwah said.
Some 25 Namibians are currently employed by international organisations, of which 15 are at SADC. Moveover, Nandi-Ndaitwah emphasised the importance of Namibia’s relationship with the Middle East. “[It] is also very important economically, and we are looking forward to an increased engagement with that region. “The region presents a unique opportunity for Namibia as an export destination for Namibian beef, lamb and charcoal,” she said.
The minister said with Namibia’s discovery of oil, the country can expect to tap into the experience and expertise of countries in the Middle East.
GENOCIDE
Nandi-Ndaitwah said genocide reparation negotiations are at an advanced stage and are nearing conclusion.
Last year, Germany officially recognised and apologised for the Herero-Nama genocide and agreed to pay Namibia €1,1 billion (N$18,6 billion) in development aid. The German government considers the money as a gesture of reconciliation, but not of legally binding reparations.
Vice president Nangolo Mbumba in June last year announced that the Namibian government has accepted Germany’s reparations offer.
Nandi-Ndaitwah also announced that Namibia would lead an observation mission to the elections in Zimbabwe, expected to be held between July and August. “. . . as well as participate in observation missions to the elections in Eswatini, Madagascar, and the Democratic Republic of Congo,” she said.
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