Namibia is actively working on the improvement of its business environment. Namibian president Hage G. Geingob has pledged that his government will ease multiple-entry visa requirements for South African business, to encourage more cross-border trade and investment.
The president promised that visa restrictions hampering business travel to Namibia by South Africans will be removed. BizCommunity reports that Geingob made his promises at the official launch of the ‘Invest in Namibia International Conference’. Ultimately, the aim is for visa requirements to be abolished, which is to be in line with the government’s Harambee Prosperity Plan to reduce poverty and unemployment and accelerate development and industrialisation.
South Africa is both Namibia’s top export and top import destination. The situation in Namibia is promising for further business. With a GDP growth rate of 4.4%, rapid urbanisation, political stability and sound macroeconomic management, the country offers solid investment opportunities for businesses based in South Africa. Trade between South Africa and Namibia has increased steadily in recent years, topping R61 billion in exports from South Africa to Namibia and R11.4 billion from Namibia to South Africa last year.
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