RMB and Namibian government host investor meeting in New York

MEDIA RELEASE

21 September 2023

RMB hosts investor meeting in New York, attracting investment for Namibia

RMB, in partnership with the Namibia Investment Promotion and Development Board (NIPDB) and a senior delegation of the Government of Namibia, hosted an investment meeting in New York on 21 September with investors from the United States (US) to position Namibia as a promising investment destination. The timing of the meeting coincided with the UN General Assembly, attracting government officials and business leaders from 193 member countries.

The US is the largest source of FDI globally. Namibia is in a strong position to tap into this FDI with a number of attractive sectors for investment including oil and gas, financial services, manufacturing, green hydrogen, agriculture, education, tourism and others. According to the Bank of Namibia, US FDI to Namibia was N$1billion in 2022.

Left to right: NIPDB Chairperson Nangula Uaandja, RMB Securities Chief Representative Officer Mark Chiaviello, Head of Energy Corporate Finance (RMB UK) Liz Williamson, RMB Namibia CEO Philip Chapman, RMB Chief Marketing Officer Alison Badenhorst.

Another opportunity for Namibia to tap into US revenue is the African Growth and Opportunity Act (AGOA), which enables Namibia to export a variety of products to the USA.

The meeting was targeted at leading US investors and asset management firms to position Namibia as a viable destination for investment. The intention is to increase FDI and the value of Namibian exports to further strengthen the economic foundation for Namibia and enhance the livelihoods of all Namibians.

The audience was addressed by His Excellency, Dr. Hage G. Geingob, President of the Republic of Namibia, Hon. Tom Alweendo, Minister of Mines and Energy, as well as NIPDB Chairperson and CEO, Ms. Nangula Uaandja.

Said Uaandja: “Our enduring mission is to amplify Namibia's visibility and value proposition as an investment destination to potential investors and key decision makers who have the means to help us unlock investments that will stimulate economic development and generate quality jobs for Namibians.”

“The investment meeting provided an opportune platform for us to reiterate the Namibian government’s commitment to develop and sustain a conducive investment environment characterised by predictable and responsive policy frameworks, while correcting any misconceptions that may exist about Namibia as an investment destination,” she added.

RMB Namibia CEO, Philip Chapman, commented: “Namibia is signaling to the world that it is open for business and committed to attracting foreign investment as a catalyst for economic growth and employment creation.”

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