Economic Overview & Business Opportunities
Doing Business in the Country Described as Africa’s “Optimist”
There is a reason why Namibia is a favoured business destination, and it’s not just because of its favourable economic outlook and business opportunities.
29 years ago, Namibia gained independence. Ever since then, the country has enjoyed nothing but political stability and peace. Besides being known as the land of the brave, Namibia is also renowned as a land with wide open spaces. It may be a small economy, but this does not affect its standing as an ideal place to conduct business.
Benefits of Doing Business in Namibia
Several factors contribute to the country being a place where business opportunities are aplenty. For one thing, English is widely spoken. This means conducting business here is not going to be a problem. Despite its small size, a savvy investor can still find the right business opportunities for them.
Among the many reasons why investors want to do business in Namibia include the following:
- Policy reforms are underway. For example, the government is placing private public partnership reforms high on its priority list. This means even more business opportunities for the right investor.
- Agriculture, renewable energy, tourism, manufacturing, logistics, infrastructure, and mining are promising sectors.
- Two harbours make it an ideally strategic location as the gateway to SADC economies.
- An established railed and road network.
- A financial system that is stable and sound.
- Available international schools and good quality housing.
- The locals are friendly and helpful.
- High quality of family life in both the city and the rural areas
Challenges to Consider
A smaller population does mean that staffing needs might be a challenge at times. Investors could experience a skills or relevant experience gap in the local talent pool. Especially when it comes to fields that are more specialised.
However, it is not an impossible challenge to overcome. Work visas and permits will still ensure you secure the talent pool you need.
Ready to Start A Business in Namibia?
Setting up a business in a foreign country is not easy. But with the help of the right professionals, your incorporation process doesn’t have to pose a challenge. At 3E Accounting, we’re a mighty force when it comes to experience, insight, and professionalism. Let us help you begin your business venture abroad without any of the worry an investor would normally have. For more information about our services, contact the 3E Accounting team today.
- Audit & Assurance
- Business Consulting
- Business Outsourcing (Accounting & Bookkeeping)
- Employers’ Support & Payroll
- Governance, Risk & Assurance
- Private Client Tax
- Tax & Tax Investigations
EDGAR CHINHEYA, CA (SA) (NAM), RAA (NAM)
Edgar has experience in public accounting. He began his career as a trainee in South Africa while studying for his CTA and ultimately SAICA board examinations. After completing his articles and board exams he moved to Namibia in January 2016 where he was employed at an Auditing firm as an Audit Manager.
He is currently registered and is a member of SAICA, ICAN and PAAB. After qualifying as an Auditor, he then co-founded Wright Registered Accountants and Auditors. Edgar uses his strong business and analytical capabilities to help clients reach their goals and improve their business operations. His areas of expertise include auditing of financial statements and business consulting.
He has in-depth experience in the audit and accounting realm and is a member of the firm’s Accounting and Audit Quality Control Committee. Edgar leads the firm’s Peer Review Practice and frequently assists other firms who need additional expertise on their peer review team.
Always looking ahead, Edgar is a firm believer in embracing technology and is constantly looking for ways to harness new technological developments for the benefit of the firm and our clients. In his leisure time he relaxes by playing tennis and cycling.
ALBANY SITHOLE, CA (NAM), RAA (NAM)
Albany is an integral part of the firm’s client service team. His auditing and accounting knowledge have been enhanced by working with clients on audit, review and compilation engagements. Albany gained international experience during his articles in South Africa before moving to Namibia in 2015 where he qualified as a Chartered Accountant. His clients benefit from his strong work ethic, attention to detail and personable style of doing business. He has worked with clients in a variety of industries, including manufacturing, services and distribution, with special expertise in construction and real estate and other sectors. He is also a member of the firm’s Employee Benefit Plan Audit Team.
Albany serves on the firm’s Assurance Quality Control Committee. In this role, he helps the firm deliver assurance services of the highest quality. In so doing, he provides clients and other financial statement users with increased peace of mind. Albany graduated from Rhodes University with a degree in accounting and from UNISA with CTA (Certificate in Theory of Accounting). He is a Registered Chartered Accountant with the Institute of Chartered Accountants in Namibia (ICAN) and a Registered Auditor with PAAB.
He is passionate about supporting new business development and growth and aims at improving efficiencies and lowering costs using the latest technology. As result, he has built excellent relationships with all of his clients.
Phone: +264 61 415 254 , +264 81 830 0816
Address: Unit 4, Erastus Shapumba Building, Gutenberg Street, Ausspannplatz, Windhoek, Namibia
Operating Hours (GMT +2:00):
Monday to Thursday: 7:30 am – 1:00 pm, 2:00 pm – 5:00 pm
Friday: 7:30 am – 2:00 pm