Namibia has secured N$114.9 billion in foreign direct investment (FDI) over the past four years, a surge largely driven by significant hydrocarbon finds in the Orange Basin. This milestone was revealed during the launch of Namibia’s inaugural FDI report in Windhoek, where the Bank of Namibia’s Deputy Governor, Ebson Uanguta, highlighted the country’s recent investment trajectory.
Uanguta noted that FDI inflows dipped during 2019 and 2020 but have since seen a remarkable resurgence. “Namibia has experienced a strong rebound since 2021. From that year onward, cumulative net FDI inflows reached N$114.9 billion. This number is expected to increase as private sector projects to the value of N$224.7 billion, facilitated by the Namibia Investment Promotion and Development Board (NIPDB), are in the pipeline,” he said.
The momentum continued into 2024, with net FDI recorded at N$37 billion for the year alone. This influx of investment has had a notable impact on employment, with foreign-owned businesses employing approximately 62,817 people in 2023—an increase from 55,982 in 2019.
According to the 2023 Labour Force Survey, foreign-owned enterprises were responsible for around 11.5% of total employment. The sectors that contributed most significantly to job creation included wholesale and retail, mining and quarrying, and financial services.
