Login

Lost your password?

Sign Up

Register

Login

Login

Lost your password?

Register

Sunday, May 22, 2022
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion

Africa's
Investment
Gateway

The Exchange
  • Login
  • Register
Subscribe
This Month's Edition
Previous Editions
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
LOGIN

Namibian Ambassador to China sees great prospects for cooperation

According to the Namibia’s Ambassador to China Elia Kaiyamo, Namibia is showing promising signs of attracting real private investment. with the recent wave of investor interests in the country including a promising mix of private equity and venture capita

by Francis Mwema
September 14, 2021
in Countries
0
Share on FacebookShare on LinkedIn

Namibia is showing promising signs of attracting real private investment. with the recent wave of investor interests in the country including a promising mix of private equity, venture capital, and other asset classes, which could be directed towards infrastructure, commercial real estate, and technical development.

This is according to Namibia’s Ambassador to China Elia Kaiyamo who was speaking in Beijing, China at the International Economics and Technology Administration Forum.

“Of late, private investors have shown increased interest in various economic sectors other than the traditional extractive investments in projects such as Green Hydrogen development,” said Kaiyamo.

China has been a great friend to global community amid pandemic: Namibian ambassador - Global Times
Elia Kaiyamo, Namibia’s ambassador to China

Addressing leaders and other invited high profile officials, Namibia’s ambassador to China noted that in terms of bilateral trade in 2019, the total volume of trade between China and Namibia was about US$709 million, with a year-on-year decrease as compared to 2018 when the volumes recorded 14.28% from US$800 million.

“Obviously, the pandemic has adversely affected these numbers in 2020 and this year,” said Kaiyamo.

He added Chinese companies have contributed N$250 million in tax revenue to the Namibian government since 2016, while also generating job employment to up to 11 000 either directly or indirectly in the country.

Notable among China’s recent investments in Namibia is US$4.7 billion invested into the Husab Uranium Mining Project, one of the largest Chinese investments in Africa, as well as the US$27 million invested in Walvis Bay-based BC Stone Products.

Namibia’s Husab Uranium Project is owned by Swakop Uranium, a subsidiary of Taurus Minerals. Swakop Uranium was earlier owned by Extract Resources, which was acquired by Taurus in January 2012. Taurus Minerals itself is a subsidiary of China Guangdong Nuclear Power.

Namibia's Husab
Namibia’s Husab

Discovered in February 2008, the mine is currently the third-largest uranium-only deposit in the world. It is located in the Namib Desert.

“Another achievement is that Namibia in 2018 became one of the first African countries allowed by the Chinese authorities to export beef to China. With that, the first consignment of prime Namibian beef was delivered to China in 2019”.Said Kaiyamo:

He further noted that China, in particular, has been supporting Namibia’s economic and social development and offering development assistance in many projects over the years.

These projects include the construction of national buildings, hospitals, clinics, schools, roads, and port infrastructure.

Namibia also benefits under the Belt and Road Initiative of China where eight areas of cooperation were identified and according to Kaiyoma, Namibia will take full advantage of the traditional friendship, consolidate all-weather friendship, deepen pragmatic cooperation and enrich and expand channels of communication between the two friendly nations, and promote the strategic development of bilateral relations.

The ambassador went on to inform Forum participants of Namibia’s abundance of natural resources, consisting of a wide range of mineral deposits, including world-class diamonds and uranium, copper, lead, zinc, gold, semi-precious stones, industrial minerals, salt, and fluorspar.

“Our rich fishing grounds are well known across the world in the international fishing industry,” he said.

ALSO READ: Senegal: Ambitious Oil & Gas development program to boost the economy

These valuable resources mean mining and fishing are two of our most important economic sectors in Namibia together with agriculture, including a thriving red meat industry and tourism.

Tourism, indeed, is a rapidly growing sector, and it is fast becoming a major earner of foreign exchange and generator of income for Namibia.

ALSO READ: Why Namibia Is Establishing Itself As An International Oil And Gas Player

The country’s infrastructure is superior to that found in many places in Africa and other parts of the world. it has an excellent road and rail network, including trans-continental links to the Atlantic seaport of Walvis Bay, which, with its world-class standard of cargo handling and sheltered deep-water harbor, is poised to grow into the most important port on Africa’s west coast and a regional container hub for southern Africa.

The ambassador also pointed out how China has assisted Namibia with aid of various forms that have helped to improve people’s living standards.

Many of these projects, he stated, are a result of Namibia’s participation in the FOCAC (Forum on China-Africa Cooperation) over the years as well as commitments made by China towards Namibia.

Kaya mo in continuation said that China and Namibia cooperation deals are of benchmark to other African countries to make comparisons and learn from the achievements born from their partnership.

“In 2018, during his state visit to China, our President Geingob visited the Beijing Aerospace Control Center and interacted with Chinese astronauts. He invited the astronauts to Namibia. In 2019, Yang, China’s first female astronaut in space, and her colleague Dong arrived in Namibia’s port town of Walvis Bay; the visit was aimed at enhancing communication and cooperation on astronautics between China and Namibia”.

The second project, Kaiyamo explained, is the space tracking station in Swakopmund.

In conclusion, Kaiyoma said China and Namibia Cooperation is evident in all its partnership sectors drawing an example of a tracking station that has been in operation since 2000, and that he says has been a symbol of scientific and technological cooperation linking Namibia and China together for the peaceful use of space.

Tags: Africa-China cooperationChinaElia KaiyomaNamibiaNamibia-china cooperation

STATE OF ECONOMY - GET THE REPORT

ASSESSING EAST AFRICA

Loading...

Francis Mwema

I am a Multimedia Journalist with six years of experience from Digital to Broadcast Media{Radio and Television}. Interested in reporting Current affairs happenings within and across the borders. I have an excellent attitude towards working with others and communication skills extremely patient and persistent with the ability to formulate unique ideas and hand-eye coordination. Ability to work under minimal supervision, curious, hardworking, and polite. In another life, I am a News Anchor and Reporter

Related Posts

Zimbabwe is cracking down on individuals it terms illegal forex traders. www.theexchange.africa
Countries

Policy inconsistency driving up inflation in Zimbabwe

May 22, 2022
www.theexchange.afrcia
Countries

Eyes on trade: Kenya seeking to deepen bilateral relationship with United Arab Emirates

May 11, 2022
Growth in employment earmarks Kenya's post-pandemic economic recovery. www.theexchange.africa
Countries

Growth in employment earmarks Kenya’s post-pandemic economic recovery

May 11, 2022
Next Post
African Development Bank Ethiopia

Nigeria: AfDB President conferred with Leadership Person of the Year Award 2020

Uganda's Daniela Odong scoops ECOSOCC's Young Africans Writing Contest (YAWC) top prize

Dubai, UAE. Burj Al Arab from above

African Heads of State to visit Dubai for Global Business Forum Africa 2021

Please login to join discussion




This months edition

May Edition

Features

EdTech role in African development
Tech & Business

EdTech’s role in African development

by Kanyali Muthui
May 16, 2022
0

Due to the pandemic, the topic of innovation in education has never been more crucial.  While most developed countries moved...

Read more
investment in African science and technology
Tech & Business

Investing in Africa’s science and technology: Where are we now?

by Kanyali Muthui
May 16, 2022
0

The continent’s digital revolution can largely be driven by building the necessary skills for the short- and long-term future, and...

Read more
Fintech revolution in Africa
Tech & Business

The Fintech Revolution in Africa’s FX Markets

by Kanyali Muthui
May 11, 2022
0

With over 548 million registered mobile money users in sub-Saharan Africa, increased internet access and readily available mobile money solutions,...

Read more
www.theexchange.africa
Countries

US – Nigeria Trade Relations: An Overview

by Wanjiku Njugunah
May 2, 2022
0

Nigeria is currently the United States' 54th largest goods trading partner, with US$7.8 billion in total goods trade as of...

Read more
A previous conference for African Insurtech sector. The Insurtech boom is deepening insurance uptake in Africa. www.theexchange.africa
Tech & Business

Insurtech boom deepening the uptake of insurance in Africa

by june njoroge
May 2, 2022
0

Kenya-based Pula is another distinguished insurtech making waves in the continent. It provides small scale farmers with agricultural insurance and...

Read more

News

Banking
Industry & Trade
Investing
Money Deals
Regional Markets
Tech & Biz
Opinion

Countries

Kenya
Tanzania
Uganda
Burundi
Rwanda
Southern Africa
Ethiopia

More

My Account
Contact us
Advertise
About us
Help Center

Subscribers Center

E-paper
Premium Stories
Education Rates
Corporate Subscriptions
Weekely Newsletter

  • My account
  • About us
  • Advertise
  • Contact
  • Privacy Policy
  • Refund Policy – The Exchange
  • Sitemap

No Result
View All Result
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
  • Login
  • Sign Up
  • Cart

© 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler,

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In