President Netumbo Nandi-Ndaitwah has called for Namibia and South Africa to move beyond their traditional trade relationship by investing in industrialisation, value addition and regional manufacturing to create jobs and drive economic growth.
Speaking at the just concluded South Africa-Namibia business forum in Midrand, South Africa, on Friday, Nandi-Ndaitwah said the two countries have built strong political ties but must now translate them into meaningful economic cooperation that benefits their people.
She said South Africa remains Namibia's biggest trading partner, supplying manufactured goods, machinery, petroleum products, pharmaceuticals and vehicles, while Namibia exports minerals, fish, livestock and agricultural products.
However, the president said the current trade pattern, where raw materials are exported and finished products imported, must change.
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"If we are to achieve sustainable and inclusive economic growth, we must progressively shift toward greater industrialisation, value addition and regional manufacturing," she said.
Nandi-Ndaitwah said Namibia offers investment opportunities in agriculture, mining, energy, oil and gas, tourism, fisheries, transport and logistics, supported by strategic infrastructure such as the port of Walvis Bay.
She said Namibia's recent oil and gas discoveries, renewable energy resources and green hydrogen programme present opportunities for partnerships with South African investors in clean energy, electricity generation and battery mineral value chains.
The president urged governments to maintain policy certainty and investor-friendly environments while encouraging businesses to invest in technology, skills development and regional value chains under the African Continental Free Trade Area to create jobs and reduce poverty.
She called on both countries' business companies to invest in each other.
"Our business companies must invest in South Africa by setting companies there and the same with South African companies," she said.
