The African Export-Import Bank has expressed interest in working with both the public and private sectors in Namibia to finance the development of a robust pipeline of projects to support the country's development agenda.

Currently, a conduit of N$1.5 billion for transactions is under consideration by the Bank of Namibia to be distributed across various sectors, including mining, energy, and health, among others.

"I welcome platforms like this one where the private sector and business community engage one another with the view to grow the Namibian economy and transform Africa," said Sade Gawa!Nas, the Mayor of the City of Windhoek

Namibia is viewed as a large regional and international trade hub given its strategic position as a coastal country in Africa, linking several inland countries such as Zambia, the DRC, Botswana, and Zimbabwe with port facilities that lead to the rest of the world.

"The timing now is critical, as we all know the world leaders are meeting in Egypt under the auspices of COPS 27, and Namibia is positioning itself to produce green hydrogen. We want to work with the government of Namibia in supporting this ambitious project, and we look forward to making it a pillar of our cooperation in this country," said Rene Awambeng, Afreximbank's Global Head and Director of Client Relations.

Awambeng explained that it is because of Namibia's economic importance on the African continent, and the Southern Africa region specifically, and it's dynamic international trade sector that the bank took an interest in supporting efforts aimed at accelerating intra-African trade.

Awambeng says this can be achieved by addressing four mutually supportive initiatives: structural transformation through value addition; expansion and modernization of physical infrastructure; strengthening export capacity and greater regional integration; and supportive financial infrastructure for greater inclusion.

The Executive Director of the Ministry of Industrialization and Trade, Sikongo Haihambo, urged local SMEs, industries, and exporters to capitalize on the financial products and advisory services that are offered by the African Bank.

"For Namibia to be able to take full advantage of the Continental Free Trade Agreement, the country needs to accelerate its industrialization agenda and diversify its export basket, which calls for increased productivity, innovation, and financial support."

The African Export-Import Bank is a pan-African multilateral trade finance institution created in 1993 by African governments under the auspices of the African Development Bank to finance and promote intra- and extra-African trade.

The Bank's core mandate is to facilitate, finance, and promote intra- and extra-African trade and be a center of excellence in African trade matters with a view to enhancing Africa's integration into the global economy.

There are currently 52 participating member countries.