Government urged to expedite the finalisation of the NEEEF/B and NIPA to end investor uncertainty
The country’s mining investment attractiveness in comparison to Africa, and the rest of the world, has declined in recent years, despite some of the major policy achievements and wins gained to encourage investment into the mining industry, an executive said this week.
The Chamber of Mines CEO, Veston Malango highlighted this during a webinar on Thursday during the 2020 Annual Review and presentation on the Performance of the Mining Industry in 2020.
“The Chamber remains committed to rectifying the negative perception of Namibia’s investment attractiveness in mining, through its continued engagement with the country’s Ministry of Mines and Energy, the Finance Ministry, and other critical government institutions,” he said.
Malango in the presentation urged the government to expedite the finalization of the New Equitable Economic Empowerment Framework (NEEEF/B)and the Namibian Investment Promotion Act (NIPA) to end investor uncertainty.
“This will be crucial to ensure that Namibia as a mining jurisdiction, is ripe to receive new investments which are being driven by the next supercycle of mineral commodities prices,” he added.
Meanwhile, according to the Fraser Institute Report, Namibia dropped 33 places globally on its Producer Price Index, from 14th position in 2019 to 47th position in 2020, and on the African continent from 1st place in 2019 to 5th position in 2020.