In a landmark development for the Namibia Industrial Development Agency (NIDA), the revaluation of its property portfolio to N$3 billion is poised to be a game-changer for the agency, setting the stage for enhanced growth and strategic expansion as it enters its next business cycle. This significant shift, expected to take full effect in 2025, marks a pivotal moment in NIDA’s journey, strengthening its financial position and enabling it to pursue ambitious industrial development goals.
The revaluation represents a dramatic increase from the current balance sheet valuation of N$868 million, reflecting a 73% growth in NIDA’s investment property portfolio over the past six years. This upward adjustment is expected to bolster the agency’s ability to secure capital, forge strategic joint ventures, and amplify its mandate to drive industrial development across Namibia.
NIDA’s leadership has emphasized the importance of the revaluation as a cornerstone of its long-term strategy. “The asset valuation of all our properties was critical not only for auditing purposes but also as part of the sustainable business model assessment and the development of the integrated strategic business plan,” said Sebulon Kankondi, Chairperson of the NIDA Board of Directors. “We are pleased to inform you that to date, NIDA’s assets stand at N$3 billion.”
The agency’s 2026–2030 Integrated Strategic Business Plan (ISBP) outlines a clear roadmap for achieving financial sustainability, diversifying revenue streams, and strengthening cost management. Key initiatives include organizational transformation, investment and industrialization, digital transformation, and financial sustainability. The ISBP, which has been submitted to the Ministry of Finance and Public Enterprises for approval, also includes detailed capitalization plans for the first six months of implementation.
NIDA’s mission is deeply aligned with Namibia’s national development frameworks, including the Growth at Home Strategy, the Government’s manifesto plan, and the upcoming sixth National Development Plan (NDP6). The agency’s focus on high-impact sectors such as agriculture, value addition, logistics, energy, mining, and manufacturing is designed to stimulate entrepreneurship, attract investment, and create job opportunities.
“Our vision is to see a transformed and competitive Namibian economy, one that thrives on industrialization, innovation, and inclusivity,” said Kankondi. “Through our mandate, we aim to create an enabling environment that fosters job creation, economic diversification, and long-term national resilience.”
Despite facing liquidity constraints, as evidenced by a decline in the current ratio from 79% in 2019 to 50% in 2024, NIDA has maintained a low gearing ratio of 22%, underscoring its prudent financial management. The agency’s total assets have grown by 30%, from N$1.06 billion in 2019 to N$1.37 billion in 2024, with shareholder equity also rising by 20% to N$1.12 billion. These gains highlight NIDA’s resilience and its capacity to navigate financial challenges while laying the groundwork for future success.
However, the agency has faced operational hurdles, with expenses outpacing revenue growth. Total income increased by 20% from N$138 million in 2019 to N$165 million in 2024, but total expenditure rose by 28% over the same period, reaching N$231 million. Operating losses were recorded in most years, peaking at N$248 million in 2023 before improving to N$102 million in 2024. The only profitable year during this period was 2020, with a net profit of N$33 million.
The revaluation of NIDA’s property portfolio is more than just a financial milestone; it is a catalyst for transformative change. By leveraging its strengthened asset base, NIDA is well-positioned to accelerate Namibia’s industrialization agenda, drive sustainable economic growth, and deliver tangible benefits to the Namibian people.
As a commercial public enterprise, NIDA is expected to operate on a sustainable basis, generating wealth for its shareholder through strategic investments and partnerships. NIDA’s critical role in attracting foreign direct investment (FDI) and fostering local business growth places it at the forefront of Namibia’s economic advancement. The Agency’s influence is already evident in key sectors like agriculture, with substantial contributions to growth in GDP through livestock and high-value fruit production (table grape and date production, irrigation farming, and cattle farming). Additionally, substantial opportunities for sustainable growth remain untapped in sectors such as energy (oil and gas, green hydrogen, renewable energy, and biomass), mining (mineral beneficiation), tourism, manufacturing, construction; and the development of new Economic Processing Zones (EPZs). NIDA is well-positioned to further drive Namibia’s economic progress in these sectors.
“NIDA’s role in developing emerging sectors, particularly the oil and gas industry, will be transformative to the nation as a whole. Through investment facilitation and partnerships, NIDA will unlock significant opportunities in energy production, reinforcing Namibia’s energy security and drawing foreign investment. These efforts will place Namibia at the forefront of global markets. Furthermore, NIDA’s commitment to renewable energy initiatives aligns with global sustainability goals and promises to create jobs while driving sustainable economic growth.
“The Ministry of Industrialisation and Trade remains dedicated to ensuring that NIDA’s operations align with Namibia’s national economic objectives, as set out in Vision 2030 and the national development plans. We will continue to provide policy direction and strategic oversight while additionally facilitating public-private partnerships and international collaborations, all essential for attracting investment and driving innovation in Namibia’s industrial sectors,” Minister of Industrialisation and Trade, Lucia Iipumbu said.