The value of Namibia's potential private investment pipeline currently stands at N$161 billion. 73% of this is said to be in renewable energy.
The Chief Executive Officer of the Namibia Investment Promotion and Development Board (NIPDB), Nangula Uaandja, said this when she addressed a media conference in Windhoek.
Uaandja says the potential private investment pipeline represents the value of private projects facilitated by the board.
The value of current operational projects under negotiation stands at N$2.8 billion, while those where capital has started to flow are valued at about N$24.1 billion.
"The ones where people have made a decision and want to invest are at N$38.8 billion; the ones we call leads, who say they have an interest and have questions before making a final decision, are at N$95.3 billion. We put quite a number of investments in what we call the pipeline and then started working on converting that pipeline, and you can't say my pipeline is fine now because you will require another one because while the project is in the pipeline, you can still lose it."
NIPDB has so far facilitated 1,199 businesses, evaluated 598 businesses, and actively engaged in five policies while signing four agreements.
However, Uaandja was quick to point out that legislative and administrative gaps, procurement processes, and the availability of land are some of the challenges holding back investors.
"There is no investment that you can get without land, and we know that land is a sensitive matter in Namibia, and the government is very careful about giving land to foreigners, whether it's long term."
The NIPDB is also working towards establishing a one-stop center that will serve investors in line with global best practices.
"At least the government has approved; the one-stop center has been built; it has started operating; everybody is not yet there, but at least we have started working on that, and we are supporting investors in that one-stop center. For us to support you, you must be a registered investor, yet we do not serve MSMEs in the one-stop center."
The board has identified renewable energy, agriculture, tourism, mining, and services (digital and global business) as priority areas.