Namibia and Angola promote joint ventures and cross-border investment Maria David

Namibia and Angola promote joint ventures and cross-border investment Maria David 

Namibia and Angola promote joint ventures and cross-border investment Maria David


THE Namibia Chamber of Commerce and Industry (NCCI) and Chamber of Commerce and Industry of Angola (CCIA) have launched the Namibia-Angola Business Forum to create a business network between the two countries. The event was helad at Helao Nafidi in the Ohangwena region. 

The launch comes after a formalization agreement was concluded in Luanda in February 2022, during the Namibia Trade and Investment Mission to the Republic of Angola. 

This comes after NCCI suffered a blow when it lost the majority of its aggrieved members to Namibia Local Business Association (NALOBA) a few months back. NCCI president Bisey Uirab said what motivated the move is to put a platform in place where businesses and investors of both countries can routinely engage with each other on issues of mutual interest and benefit. 

Uirab said an agreement for the formalization of this forum was concluded by the two sister chambers in Luanda, in February 2022, during the Namibia Trade and Investment Mission to the Republic of Angola, led by Namibia’s deputy prime minister Netumbo Nandi-Ndaitwah, who is also the minister of international relations. 

NCCI representative Ben Hauwanga and president of CCIA Vicente Soares signed an agreement, which in turn set in motion the process now resulting in the establishment of a Namibia-Angola Business Forum. 

“The forum will regularly and routinely deal with matters of mutual interest within the domain of trade and investment, but first the Namibia-Angola Business Forum must craft and implement a post-Covid-19 economic recovery strategy, to strengthen the existing bilateral trade ties between the two countries,” he said. 

He said technological advances and globalization have rapidly changed the business landscape. The advent of the Covid-19 pandemic ushered in new challenges that have had a devastating impact on economies big and small. 

He added that these and other developments, on the world stage, past and present, reinforce the importance of economic agility, flexibility, adaptability, and resilience. “The pandemic has shown them the importance of forging new partnerships and rekindling existing ones, to remain relative and competitive in a global economy,” he said. 

Uirab said CCIA and NCCI will work with the governmental structures to expand investment flows between Angola and Namibia. This he said will be done by promoting joint ventures and cross-border investment. 

Uirab said the time has come for countries in Southern Africa to become less reliant on goods and services from other geographical regions of the world as they have much to offer each other, in terms of goods and services. Meanwhile, Ohangwena governor Walde Ndevashiya said trade between different countries is an important factor in raising living standards, providing employment and enabling consumers to enjoy a greater variety of goods. 

Ndevashiya said the forum will serve as a vehicle to strengthen bilateral business cooperation between Namibia and Angola with the main objective to develop an action plan for the implementation of the joint economic recovery plan post the coronavirus pandemic. FORUM: The Namibia Chamber of Commerce and Industry and Chamber of Commerce and Industry of Angola have launched the Namibia-Angola Business Forum. Photos: Maria David


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