Namibia is a transparent country and one of the most favourable investment destinations in Africa. The south-western country is particularly complimentary in the industries of mining and exploration with good transport infrastructure, stable democracy and an independent legal system.
Namibia has a long-established mining act where mining law is regulated by the Minerals Act 33 of 1992 which was amended in 2008. Mining is the biggest contributor to Namibia’s economy in terms of revenue, accounting for 25% of the country’s income; making it one of the largest economic sectors of the nation. The Fraser Institute lists Namibia at number 53 globally in terms of investment attractiveness and number 38 in terms of policy perception.
According to the Chamber of Mines’ annual report, Namibia’s mining sector is characteristic of sizeable growth potential as it has continued to perform comparatively well.The country finds itself in a unique position in which mining is beginning to reap the fruits of prior investments.