Who Owns Whom

Namibia

Country Code: 516

ISO2 Code: NA

ISO3 Code: NAM

Country Economic Snapshot

2018-10-29

Namibia’s Mines and Energy minister Tom Alweendo has set aside a requirement that companies applying for exploration licences have to be partly owned and managed by black Namibians.
The country’s Chamber of Mines said it had received notification from the minister that minimum black ownership of 20% was no longer a requirement in the country where the mining industry, which is heavily biased towards diamond and uranium mining, plays a critical role, contributing 12.2% to GDP in 2017.
Hilifa Mbako, the Chamber’s vice-president, was quoted saying the decision “was the most important fundamental decision for future investment into Namibia.”
The 2015 policy which has now been set aside called for a minimum 20% representation of black Namibians and at least 5% ownership by Namibians or by a company wholly-owned by Namibians.

Info

Capital Windhoek
Currency (Name, Abbreviation, Symbol) Namibian dollar , NAD , N$
Area 824,292 sq km
Type of Government presidential republic
Languages English (official) 7%, Afrikaans (common language of most of the population and about 60% of the white population), German 32%, indigenous languages (includes Oshivambo, Herero, Nama) 1%
Natural Resources diamonds, copper, uranium, gold, silver, lead, tin, lithium, cadmium, tungsten, zinc, salt, hydropower, fish note: suspected deposits of oil, coal, and iron ore
Type of Industry meatpacking, fish processing, dairy products, pasta and beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper)
Stock Exchange Namibia Stock Exchange
Stock Exchange Location Windhoek
Stock Exchange Founded 1992
Tax Rate: Corporate 32%
Tax Rate: Individual 37%
Natural Resources diamonds, copper, uranium, gold, silver, lead, tin, lithium, cadmium, tungsten, zinc, salt, hydropower, fish note: suspected deposits of oil, coal, and iron ore

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