Africa-Press – Namibia. Indigenous Namibian fatty oils, such as marula and manketti, have over the years been a hit on the European cosmetics market because of their purity and unique composition.
This was said by Julia Muetudhana, the Namibia Investment Promotion and Development Board’s executive director for talent, innovation and productivity, at the official launch of the ‘Namibia Fatty Oils Guide for MSMEs’ in Windhoek yesterday.
She said the commitment by micro, small and medium enterprise (MSME) entrepreneurs to deliver exceptional Namibian fatty oils has successfully carved out a niche market in Europe, owing to the outstanding quality and diverse applications of the products.
“These oils are rich in essential fatty acids, antioxidants and vitamins, making them ideal ingredients for high-end beauty products,” she said.
Muetudhana said the fatty oils guide was meticulously crafted to serve as a companion for entrepreneurs, encompassing key aspects, such as market research, regulatory compliance, packaging and labelling considerations and logistics management.
“It equips you with the know-how to tailor your products effectively to the European market while ensuring compliance with local regulations,” she said.
The guide is a collaboration between the Agency for Business and Economic Development, the GIZ BioInnovation Africa project, Sequa and the Namibia Investment Promotion and Development Board (NIPDB).
“It is a comprehensive resource through which we aim to share knowledge and experience, providing especially new entrants with insights and strategies that could elevate your cosmetics export endeavours to Europe and the world.,” Muetudhana said.
She said the global cosmetics market was valued at US$374,18 billion in 2023 and is projected to grow from US$393,75 billion in 2024 to US$758,05 billion by 2032.
She said rising consciousness among the global population regarding personal appearance and well-being is propelling the cosmetic industry to grow.
“The NIPDB, therefore, supports MSMEs through various initiatives, most notably the Know2Grow High-Potential Pool – a targeted market access and export promotion initiative to support micro and small enterprises to scale and penetrate new markets.
“We do this through taking them to regional and international trade fairs, organising B2B meetings, peer learning, market intelligence webinars and workshops,” Muetudhana said.
She said the NIPDB aims to empower MSMEs within the cosmetics sector with key insights to penetrate the European market through the export guide.
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