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German investors want to know about NEEEF

German investors want to know about NEEEF

Euro100 million for infrastructure and a 150 Megawatt power plant are just two aims mentioned by the 16-member business delegation from Germany which visited Namibia last week.
The delegation concluded that the conditions in Namibia are very good but had questions regarding the possible impact of new legislation like the draft Investment Bill and the New Equitable Economic Empowerment Framework (NEEEF).
The delegation was led by the German-African Business Association (Afrika-Verein der deutschen Wirtschaft) to explore business opportunities in the country. The participating business leaders were mainly interested in sectors such as mining, energy and infrastructure but also in healthcare, automation, financing and security.
The German company Gauff GmbH wants to invest Euro100 million in infrastructure and the G.F.H. Import- and Export GmbH is ready to bring a second-hand 150 megawatt power plant to Namibia.
A German-Namibian Business Seminar was held on Thursday where Round table Sector Sessions as well as B2B- meetings took place. The Business Seminars were also addressed by the Deputy Minister of Industrialisation, Trade and SME Development Hon. Pieter van der Walt who briefed the delegation on Namibia’s conducive business environment and the deputy Minister of Works and Transport, Hon. James Sankwasa who provided highlights on some of Namibia’s infrastructure projects supported by the German Government.
The current status of energy projects and upcoming opportunities, especially in the renewable sector was introduced to the delegation by the Minister of Mines and Energy, Hon. Obed Kandjoze. The delegation also had an exchange with i.a. Hon. Sophia Swartz, Chairperson of the Standing Committee on Natural Resources of the National Assembly, over dinner. To sum up the business mission, the delegation also visited Ohorongo Cement and Namibia Breweries Limited.

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