The Namibia Investment Promotion and Development Board (NIPDB) has announced the departure of its founding chief executive officer (CEO), Nangula Uaandja.
NIPDB executive for investor experience Jessica Hauuanga has been appointed as acting CEO.
In a media statement, the NIPDB board has said Uaandja will leave office on 31 December after leading the institution through the years of its development.
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"Uaandja has led the NIPDB throughout its formative years, leaving behind an impactful tenure characterised by exceptional vision casting, purposeful leadership and agile execution of the institution's mandate," the board says.
The board credits Uaandja with laying a solid foundation at a crucial time for Namibia's economy, noting that she established the strategy, systems and processes that hold the organisation's operations.
"As the NIPDB's first CEO, Uaandja has been instrumental in shaping the institution's foundation and positioning it as a centre of excellence in investment promotion and development," the statement reads.
Under her tenure, Namibia recorded a sharp rise in foreign direct investment (FDI), reaching a record N$48.2 billion in 2023. This is more than double the N$17.3 billion recorded in 2022, the NIPDB says.
"Furthermore, the average FDI as a percentage of gross domestic product rose to 21% in 2023 from a historical average of 7%."
The board says the country's improved performance was reflected in international rankings, with Namibia ranking number one in Africa and second globally in the 2025 Greenfield Foreign Direct Investment Performance Index.
"Through her exemplary leadership, Uaandja has strengthened investor confidence in Namibia and positioned the country as a preferred and dynamic investment destination," the board says.
Hauuanga, who has served as investor experience executive since 2021, will act as CEO until a substantive appointment is made.
"We have full confidence in Hauuanga's capabilities to lead the NIPDB during this transitional phase and to ensure continuity while maintaining investor confidence," the board says, adding that recruitment for a permanent CEO will begin early next year.
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