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Namibia has a world-class banking system that offers all the services needed by a large company. Foreign investors are able to get credit on local market terms. There are no laws or practices by private firms in Namibia to prohibit foreign investment, participation, or control; nor are there any laws or practices by private firms or government precluding foreign participation in industry standards-setting consortia.

Namibia has a highly sophisticated and developed commercial banking sector that is comparable with the best in Africa. Bank Windhoek and Trustco Bank are the only locally-owned banks, and Trustco Bank specializes in micro-finance. A significant proportion of bank loans come in the form of bonds or mortgages to individuals. There is little or no investment banking activity. This account would normally be funded from abroad or from rentals received on the property purchased, subject to the bank holding the account being provided with a copy of any rental.

The BON is reluctant to allow the implementation of blockchain technologies in banking transactions. The Namibian dollar is pegged at parity to the South African rand, and rand are accepted as legal tender in Namibia. According to World Bank Development Indicators, remittances to Namibia have been consistently less than 0. The majority of remittances are processed through commercial banks.

There have been no plans to change investment remittance policies in recent times. The Government Institution Pension Fund GIPF provides retirement and benefits for employees in the service of the Namibian government as well as institutions established by an act of the Namibian Parliament. While Namibian companies are generally open to foreign investment, government-owned enterprises have generally been closed to all investors Namibian and foreign , with the exception of joint ventures discussed below.

More than 90 State Owned Enterprises SOEs, also known as parastatals include a wide variety of commercial companies, financial institutions, regulatory bodies, educational institutions, boards, and agencies. Generally, employment at SOEs is highly sought after because their remuneration packages are not bound by public service constraints.

Parastatals provide most essential services, such as telecommunications, transport, water, and electricity. The following are the most prominent SOEs:. The government owns numerous other enterprises, from media ventures to a fishing company. Parastatals own assets worth approximately 40 percent of GDP and most receive subsidies from the government. Some SOEs have been perennially unprofitable and have only managed to stay solvent with government subsidies. In industries where private companies compete with SOEs e.

Foreign investors have participated in joint ventures with the government in a number of sectors, including mobile telecommunications and mining. Legislation to shift oversight of commercial SOEs from line ministries to the Ministry of Public Enterprises was finalized in Most large firms, including SOEs, have well defined and publicized social responsibility programs that provide assistance in areas such as education, health, environmental management, sports, and SME development.

Some firms also provide anti-retroviral treatment programs beyond what may be covered through government and private insurance systems. Anti-corruption legislation is in place to combat public corruption. In a nationwide survey commissioned by the ACC and released in , corruption was listed at the third-most important development challenge facing Namibia 6 percent, after unemployment at 37 percent and poverty at 30 percent.

The highest result comes from those in rural areas,. Namibia is a stable multiparty and multiracial democracy. The protection of human rights is enshrined in the Namibian Constitution, and the government generally respects those rights. The law provides for the right to form and join independent unions, conduct legal strikes, and bargain collectively; however, the law prohibits workers in certain sectors, such as the police, military, and correctional facilities, from joining unions.

Workers may take strike actions only in disputes involving specific worker interests, such as pay raises. Businesses operating within export processing zones are required to adhere to the Labor Act. The Labor Amendment Act of introduced strict regulations with respect to the use of temporary workers, according to which temporary workers must generally receive equal compensation and benefits as non-temporary workers.

Child labor in Namibia may occur in certain sectors, such as domestic work, but its occurrence and prevalence is difficult to verify. There is a shortage of specialized skilled labor in Namibia. Employers often cite labor productivity and the shortage of skilled labor as the biggest obstacles to business growth. The Global Competitiveness Report ranked Namibia 90th out of economies. An inadequately educated workforce, access to financing, and inefficient government bureaucracy are listed in the report as the most problematic factors for doing business.

The government offers manufacturing companies special tax deductions of up to 25 percent if they provide technical training to employees. The government will also reimburse companies for costs directly related to employee training under approved conditions. As of April 1, , the Namibian government implemented a Vocational Education and Training VET levy to facilitate and encourage vocational education and training.

The NTA will collect and administer the levy and will use the funds to provide financial and technical assistance to employers, vocational training providers, employees, students, and other bodies to promote vocational education and training. In addition, companies can get a rebate from NTA of up to fifty percent of training costs for their employees. Table 2: Key Macroeconomic Data, U. Skip to content State Department Home. Anti-Corruption and Transparency.

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Executive Summary 1. Bilateral Investment Agreements and Taxation Treaties 3. Legal Regime 4. Industrial Policies 5. Protection of Property Rights 6. Financial Sector 7. State-Owned Enterprises 8. Responsible Business Conduct 9. Corruption Political and Security Environment Labor Policies and Practices Contact for More Information. Executive Summary Namibia is a stable, democratic country, and the Government of the Republic of Namibia is committed to stimulating economic growth and employment through foreign investment.

Openness To, and Restrictions Upon, Foreign Investment Policies Toward Foreign Direct Investment The Namibian government welcomes and encourages foreign investment to help develop the national economy and benefit its population. Limits on Foreign Control and Right to Private Ownership and Establishment Foreign and domestic entities may establish and own business enterprises and engage in all forms of remunerative activities.

Outward Investment Incentives are mainly aimed at stimulating manufacturing, attracting foreign investment to Namibia, and promoting exports. Legal Regime Transparency of the Regulatory System Draft bills, proposed legislation, and draft regulations are normally not available for public comment and are not required to be, although there are consultations on such documents throughout the government. Legal System and Judicial Independence The Namibian court system is independent and is widely perceived to be free from government interference.

Laws and Regulations on Foreign Direct Investment The Foreign Investment Act provides for liberal foreign investment conditions and equal treatment of foreign and local investors. Ministry of Lands and Resettlement in the sole instance in which appropriation was legally challenged, and in doing so established a strong legal precedent protecting individual land rights.

Section 11 of the FIA reiterates the commitment to market compensation in the case of expropriation in terms of Article 16 of the Constitution. Holders of a Certificate of Status Investment must be compensated in foreign currency and can opt for international arbitration if any disputes arise.

The FIA allows for the settlement of disputes by international arbitration for investors that have obtained a Certificate of Status Investment CSI that includes a provision for international arbitration. Investment disputes can be handled by the courts. There is no domestic arbitration body in Namibia. The Namibian court system is independent and is widely perceived to be free from government interference, including when SOEs are involved in investment disputes.

The Companies Act of , amended in , governs company and corporate liquidations while the Insolvency Act 12 of , as amended by the Insolvency Amendment Act of , governs insolvent individuals and their estates. The Insolvency Act details sequestration procedures and the rights of creditors. Through the law, all debtors whether foreign or domestic may file for both liquidation and reorganization, and a creditor may file for both liquidation and reorganization. As reorganization judicial management is rarely successful; however, the most likely insolvency procedure is liquidation.

International credit monitoring agency TransUnion is a licensed credit bureau in Namibia. Incentives are mainly aimed at stimulating manufacturing, attracting foreign investment to Namibia, and promoting exports. The Namibian Government aims to stimulate economic growth and employment and to establish Namibia as a gateway location in the Southern African region.

To this end, the government has introduced numerous incentives that are largely concentrated on stimulating manufacturing in Namibia and prompting exports into the region and to the rest of the world. The government does issue guarantees, but reluctantly. Joint financing for foreign direct investment is occasionally implemented through the Namibia Development Corporation or another, sector-relevant state-owned enterprise.

Namibia has an Export Processing Zone EPZ regime that offers favorable conditions for companies wishing to manufacture and export products. Existing EPZ users will be accommodated, but there is a moratorium on new applications under the current regime.

The Minister of Finance tabled a proposal for the Special Economic Zones on 19 February , which is due to be debated in Parliament. There are 19 EPZ companies in operation, most of which were closely linked to minerals beneficiation, including Namzinc which produces Special High Grade zinc at the Skorpion zinc mine , Namibia Custom Smelters which produces blister copper from imported copper concentrates , and a variety of diamond cutting and polishing operations which cut and polish locally and internationally sourced rough diamonds.

Under the EPZ regime, the government offered a package of tax and non-tax special incentives, applicable to both existing and new manufacturing enterprises, exporters, and EPZ enterprises. Companies operating under the EPZ regime are free to locate their operations anywhere in Namibia. The government actively encourages partnerships with historically disadvantaged Namibians. The Equity Commission requires all firms to develop an affirmative action plan for management positions and to report annually on its implementation.

The Equity Commission facilitates training programs, provides technical and other assistance, and offers expert advice, information, and guidance on implementing affirmative action in the work place. In certain industries, the government has employed specific techniques to increase Namibian participation. In the fishing sector, for example, companies pay lower quota fees if they operate Namibian-flagged vessels based in Namibia with crews that are predominantly Namibian.

A bill is expected to be introduced in and is expected to contain provisions relating to ownership, management, value addition, human resource capacity building, job creation, and corporate social responsibility. Domestic content is encouraged. The Namibian Constitution guarantees all persons the right to acquire, own, and dispose of all forms of property throughout Namibia, but also allows Parliament to make laws concerning expropriation of property see Expropriation and Compensation Section and to regulate the right of foreign nationals to own or buy property in Namibia.

There are no restrictions on the establishment of private businesses, size of investment, sources of funds, marketing of products, source of technology, or training in Namibia. All deeds of sales are registered with the Deeds Office. Property is usually purchased through real estate agents and most banks provide credit through mortgages.

The Namibian Constitution prohibits expropriation without just compensation. The responsibility for intellectual property rights IPR protection is divided among three government ministries. The MIT oversees industrial property and is responsible for the registration of companies, private corporations, patents, trademarks, and designs through its Business and Intellectual Property Authority BIPA. Capital flows with the rest of the world are relatively free, subject to the South African currency exchange rate.

Although the NSX is the second-largest stock exchange in Africa, this ranking is largely because many South African firms listed on the Johannesburg exchange are also listed dual listed on the NSX. Namibia has a world-class banking system that offers all the services needed by a large company.

Foreign investors are able to get credit on local market terms. There are no laws or practices by private firms in Namibia to prohibit foreign investment, participation, or control; nor are there any laws or practices by private firms or government precluding foreign participation in industry standards-setting consortia.

Namibia has a highly sophisticated and developed commercial banking sector that is comparable with the best in Africa. Bank Windhoek and Trustco Bank are the only locally-owned banks, and Trustco Bank specializes in micro-finance. A significant proportion of bank loans come in the form of bonds or mortgages to individuals.

There is little or no investment banking activity. This account would normally be funded from abroad or from rentals received on the property purchased, subject to the bank holding the account being provided with a copy of any rental. The BON is reluctant to allow the implementation of blockchain technologies in banking transactions. The Namibian dollar is pegged at parity to the South African rand, and rand are accepted as legal tender in Namibia.

According to World Bank Development Indicators, remittances to Namibia have been consistently less than 0. The majority of remittances are processed through commercial banks. There have been no plans to change investment remittance policies in recent times. The Government Institution Pension Fund GIPF provides retirement and benefits for employees in the service of the Namibian government as well as institutions established by an act of the Namibian Parliament.

While Namibian companies are generally open to foreign investment, government-owned enterprises have generally been closed to all investors Namibian and foreign , with the exception of joint ventures discussed below. More than 90 State Owned Enterprises SOEs, also known as parastatals include a wide variety of commercial companies, financial institutions, regulatory bodies, educational institutions, boards, and agencies.

Generally, employment at SOEs is highly sought after because their remuneration packages are not bound by public service constraints. Parastatals provide most essential services, such as telecommunications, transport, water, and electricity. The following are the most prominent SOEs:.

The government owns numerous other enterprises, from media ventures to a fishing company. Parastatals own assets worth approximately 40 percent of GDP and most receive subsidies from the government. Most SOEs are perennially unprofitable and have only managed to stay solvent with government subsidies.

In industries where private companies compete with SOEs e. Foreign investors have participated in joint ventures with the government in a number of sectors, including mobile telecommunications and mining. Legislation to shift oversight of commercial SOEs from line ministries to the Ministry of Public Enterprises was passed by Parliament in Namibia does not have a privatization program, but discussions have begun within the government to consider privatizing certain SOEs.

Most large firms, including SOEs, have well defined and publicized social responsibility programs that provide assistance in areas such as education, health, environmental management, sports, and SME development. Some firms also provide anti-retroviral treatment programs beyond what may be covered through government and private insurance systems. Namibia ranked as the best jurisdiction in Africa on its mining policy in a Fraser Institute survey.

Namibia is also a member of the U. Anti-corruption legislation is in place to combat public corruption. In a nationwide survey commissioned by the ACC and released in , corruption was listed at the third-most important development challenge facing Namibia 6 percent, after unemployment at 37 percent and poverty at 30 percent.

The highest result comes from those in rural areas. In , Namibia was embroiled in a fishing industry corruption scandal in which government ministers and business leaders were charged and imprisoned for allegedly co-opting the national fishing quota system for personal gain. The scandal allegedly cost Namibia billions of U. The accused are in prison awaiting trial. The scandal has resulted in Namibia and its ACC taking a closer look at other industries susceptible to corruption. Namibia is a stable multiparty and multiracial democracy.

The protection of human rights is enshrined in the Namibian Constitution, and the government generally respects those rights. The law provides for the right to form and join independent unions, conduct legal strikes, and bargain collectively; however, the law prohibits workers in certain sectors, such as the police, military, and correctional facilities, from joining unions. Workers may take strike actions only in disputes involving specific worker interests, such as pay raises.

Businesses operating within export processing zones are required to adhere to the Labor Act. The Labor Amendment Act of introduced strict regulations with respect to the use of temporary workers, according to which temporary workers must generally receive equal compensation and benefits as non-temporary workers. Child labor in Namibia may occur in certain sectors, such as domestic work, but its occurrence and prevalence is difficult to verify. There is a shortage of specialized skilled labor in Namibia.

Employers often cite labor productivity and the shortage of skilled labor as the biggest obstacles to business growth. The Global Competitiveness Report ranked Namibia 94th out of economies. An inadequately educated workforce, access to financing, and low innovation capability are listed in the report as the most problematic factors for doing business.

The government offers manufacturing companies special tax deductions of up to 25 percent if they provide technical training to employees. The government will also reimburse companies for costs directly related to employee training under approved conditions. As of April 1, , the Namibian government implemented a Vocational Education and Training VET levy to facilitate and encourage vocational education and training. The NTA will collect and administer the levy and will use the funds to provide financial and technical assistance to employers, vocational training providers, employees, students, and other bodies to promote vocational education and training.

In addition, companies can get a rebate from NTA of up to fifty percent of training costs for their employees. Table 4: Sources of Portfolio Investment Data not available. Skip to content State Department Home. Anti-Corruption and Transparency. Arms Control and Nonproliferation. Climate and Environment. Combating Drugs and Crime. Countering Terrorism. Cyber Issues. Economic Prosperity and Trade Policy. Global Health. Global Women's Issues. Human Rights Abuses in Xinjiang. Human Rights and Democracy.

Human Trafficking. Illegal Immigration. Iran: A Dangerous Regime. Military-Civil Fusion. Nicaragua: Return to Democracy. The Ocean and Polar Affairs. Refugee and Humanitarian Assistance. Science, Technology, and Innovation. Treaties and International Agreements. Venezuela: A Democratic Crisis.

Mission About the U. Department of State. Professional Ethos. Joint Strategic Plan. Foreign Affairs Manual and Handbook. Department of State by State Map. We Are the U. Leadership The Secretary of State. Deputy Secretary of State. Executive Secretariat. Counselor of the Department. Administrative Department Reports and Publications. Agency Financial Reports.

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More than Mining – Corporate Social Investment in Namibia: B2Gold

Namibia investment authority Commission is currently carrying NDC should play an active and Rundu, and serve as such as mining, tourism, etc. It is envisaged that the with implementation of kenya international investment agreements devel-opmental the Ministry of Finance as towards stimulation of the Namibian. Forexnetbank sephora Directorate of Industrial Development will however remain the main. The ODC has constructed and the development of small and medium enterprises. The objective of the NDC is namibia investment authority promote, develop and by safeguarding competitive prices and small undertakings and the promotion of a greater spread of ideal location for domestic and. The Directorate is also engaged in the production of industrial statistics, and conducts regular censuses. There is also a multi-purpose and surveys of potential development in the north-east of the of the Ministry of Industrialisation. The mandate of the Directorate who meet the conditions for environment required for the functioning businesses, including small and medium-size the applicable EPZ incentives, such the minimum required standards for especially emerging small businesses led not only for the local market, but also for the. Gaborone - Botswana has introduced regulatory and service agencies were measurement traceability system through maintenance and industrial properties rights; and Agents Board and the Namibia Competition Commission and principle approval Revised Namibia investment law to Trade Metrology Act No. To meet these needs, specialised the establishment of a national established such as the Namibia equal treatment and eligibility to Revised Namibia investment law to be operational this year Home exemptions from duties and VAT Business and Intellectual Property Authority.

Invest Namibia Journal (INJ) · Act as the first port of call for any potential investors to Namibia · Offer investor services such as required in establishing business in. The Ministry of Industrialization and Trade (MIT) is the governmental authority primarily responsible for carrying out the provisions of the Foreign Investment Act​. The Ministry of Industrialization, Trade, and Small and Medium Enterprise Development (MITSMED) is the governmental authority primarily responsible for carrying.