Business in Namibia
Business in NamibiaWe explore Namibia and take a look at the most prominent sectors contributing to the country’s economic growth Writer: Marcus Kääpä Neighbouring Angola to the north, Botswana to the east, South Africa to the south and with the Atlantic Ocean to its west, Namibia is a unique country. Sometimes known to locals as the ‘Land of Many Faces’ due to its iconic and varied terrain, Namibia is notable for being both arid, and yet strangely beautiful as a result of its diverse geography, and is widely regarded as a gem in the African tourism space. With a population of approximately 2.4 million, Namibia does not share the same size or scale of industries in larger countries, such as its neighbours, however, has in recent years completed the expansion of its port at Walvis Bay. This $300 million project is a key development in the country’s aim to move forward and grow, with the intention of turning the port into a logistical hub for southern Africa that aims to answer the increasing demand for freight and maritime access for landlocked countries in the region; the port represents a gateway for more than 240 million people in the region’s market. On top of enjoying one of the most stable political environments on the continent, Namibian infrastructure is relatively modern and developed, while its economy is largely driven by various exports as well as its tourism industry. Of its trading partners, the US exists as one of the top 10. Despite this however, Namibian trade is led by internal African activity, such…
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