Namibia courts private capital for economic recovery

Namibia Map
Namibia Map

Namibian Minister of Finance Iipumbu Shiimi on Wednesday underscored the importance of Public Private Partnerships (PPP) in stimulating the economy, which is trying to find its feet after suffering an 8 percent contraction due to COVID-19 last year.

Shiimi told delegates attending a PPP conference in Windhoek that Namibia will need a solid partnership of investors from the private sector and the state to weather the economic challenges.

“The government is committed to leveraging private sector capital to meet the infrastructural development needs of our country through Public Private Partnerships, particularly under the current economic climate,” he said.

Water resources, particularly sea-water desalination and waste water treatment, renewable energy, are among the targeted sectors identified for PPP investment opportunities, given Namibia’s comparative advantages for solar and wind power generation, as well as the agriculture sector, health and education sectors, and the construction and maintenance of bulk accommodation facilities, Shiimi said.

He said the PPP model has been used elsewhere for economic growth and remains a viable option for the southwest African country, especially in huge projects’ financing and execution.

“We all want to find ways where we can develop Namibia together and all play a role in this envisaged development,” Shiimi said. Enditem

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