In continuous efforts to uphold its mandate of emancipating the Namibian economy, the Namibia Industrial Development Agency (NIDA) held a stakeholder engagement with stakeholders from various financial organizations and backgrounds on April 25th at the Hilton Garden Inn in Windhoek. The breakfast event brought together various key stakeholders from institutions such as the various banks and financial organizations in Namibia and South Africa.
It served as a platform to present the newly developed Sustainable Business Model and Integrated Strategic Business Plan, whilst simultaneously highlighting the new investment opportunities that exist for possible partnerships. NIDA has a critical role to play in Namibia’s economic transformation by facilitating investment, supporting agribusiness, and spearheading industrial initiatives. Along with the development of its first Integrated Strategic Business Plan (ISBP) 2025/26-2029/2030, NIDA is in pursuit of the mandate to advance Namibia’s industrialization agenda by enhancing, promoting, facilitating and managing industrial development in Namibia.
The ISBP is a defining moment for NIDA, as it lays out the Agency’s trajectory over the next five years. The ISBP is not merely a document but a commitment to transformation, a deliberate roadmap that will guide NIDA’s efforts in strengthening its institutional capacity, enhancing operational efficiency, and driving industrialization that forms part of the last stretch to assist the government in achieving Vision 2030. The ambitious, yet achievable goal, can only be achieved through the collaborative development of strategic partnerships particularly those made with financial organizations. In his opening remarks, Chairperson of the NIDA board, Sebulon Kankodi highlighted NIDA,s role since its inception
“Since its establishment in 2018, NIDA has not yet assumed its rightful position at the forefront of industrial development, where it will play a key role in advancing Namibia’s economic transformation. As part of the newly developed strategy our journey will be one of growth, adaptation, and strategic repositioning, ensuring that we remain an effective vehicle for industrial progress. As you are aware NIDA was created by the merger of the former Namibia Development Corporation (NDC) and the former Offshore Development Company (ODC). Both wholly owned by the Government of the Republic of Namibia, NIDA is a Commercial Public Enterprise with a commercial mandate. As part of the Board’s efforts to ensure that NIDA plays a pivotal role in fulfilling its mandate as Commercial Public Enterprise and more so our industrialisation mandate, the Boards focus for 2024 was the laying of a strong Governance foundation and the setting up of the strategic direction of the Organisation. In order to place NIDA in the drivers’ seat of the industrialization agenda, collaboration and partnership is of paramount importance. And we believe that financial institutions are both well positioned and have the capacity to walk the journey with NIDA,” he stated.
Richwel Lukonga, the CEO of NIDA, presented on NIDA’s strategic focus and investment opportunities, highlighting three industrial infrastructure opportunities “Prime Industrial land, for investment and development in Walvis Bay, Windhoek, and Okahandja. The Special Economic Zones to promote local investment, and attract foreign direct investment to positively impact our national industrialization initiatives and fully exploit the opportunities presented by the Africa Continental Free Trade Area (AfCFTA). And Strategic and Prime land holdings, Strategic and prime land holdings for the investment and development of industrial zones regionally (Angola, DRC, Congo-Brazzavile), he remarked. Lukonga further elaborated on how they intend to unlock these opportunities, “Sourcing technical partnerships, exploring joint venture and shareholding opportunities, securing partner or investor financing, and co-financing with interested stakeholders,” he noted. Also speaking at the event was Julius Nghikevali, who delivered a comprehensive presentation on the Industrial and Strategic Business Plan (ISBP) 2025/26–2029/30. He reflected on the financial performance, stating that “In 2024, annual total income rose by 20% to N$165 million, but excluding government grants, it only increased by 1%, from N$137 million in 2020 to N$139 million,” he stated.
Nghikevali further spoke on the present outlook, “The total revalued investment assets balance stands at over N$3 billion, compared to a 2024 book value of N$868 million. This strengthened financial position is expected to improve capital-raising potential, facilitate entry into strategic joint ventures, and enhance the execution of NIDA’s industrial development mandate,” he remarked.
Looking to the future, Nghikevali proposed three strategic options “The first option is a transition into a stand-alone subsidiary, which will eventually be housed under NIDA Holdings Limited. The second involves the business unit raising its own funding directly, with such funds ring-fenced for its exclusive use. The third option envisions NIDA partnering with a technical partner or operator through a joint venture to co-finance the business unit,” he suggested. In attendance this engagement was the first of its kind and embraced by its stakeholders. Martin Inkumbi, GIPF CEO applauded NIDA for its proactiveness and encouraged working synergies in the sector which sees many shared benefits. “It’s a commendable initiatives for NIDA s Top Management to deliberately find innovative ways to partner with industry players that share the same interests. We need to embrace not working in Silos but by collaborating on resources and tools that we have to better enhance our Namibian Economy. We look forward to further consultations after said meeting and its outcomes. NIDA remains committed to be a catalyst for sustainable industrial development, unlocking opportunities for industrialization, and economic growth as outlined in the promises of the Government of the day, and thereby contributing to the essential need of job creation for the Namibian people.