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Namibia, SA Trade at N$64.1 billion

Windhoek-The Namibian President Hage Geingob says South Africa should regard Namibia as an important trading partner, adding that in 2017 total trade between the two countries stood at N$64.1 billion.
Geingob made the remarks on Friday evening at State House during a one-day state visit by South African President, Cyril Ramaphosa.
South African President, Cyril Ramaphosa with President Hage Geingob of Namibia. (Photo: Newera)

Although South Africa is Namibia’s largest trading partner, Geingob however said that trade between the two countries remains heavily skewed in favour of South Africa, with Namibia importing goods worth N$49.1 billion from South Africa, while exporting goods worth N$15.0 billion to her southern neighbour.

He said Namibia’s investment portfolio and exposure in South Africa stood at N$82 billion in 2017.
Of these, he noted, N$34.6 billion was invested in equity securities, N$33.3 billion in debt securities and N$14.1 billion in other asset instruments, such as unit trusts and property.

“As it should, our relationship is characterised by friendship and economic interdependence. No country can prosper on its own,” said Geingob.

Cyril Ramophosa said South Africans are on a journey of transformation, which is inclusive of all its people, irrespective of gender, colour, religion or class, adding that they are in a new dawn that will look at boosting the economy so that people would benefit from the economic projects.

“This new dawn means we have to look at everything that can boost our fortunes as a country. Economically, we want to project more growth. We are embarking on an economic recovery path because our economy has been in the doldrums. We have to look at those transformational pillars that can be utilised to recover our economy. Clearly, the most important one to us is the creation of jobs,” he maintained.

Ramaphosa, who is also the chair of the South African Development Community (SADC), said visiting Namibia is a renewal of friendship and strengthening of bonds between the two countries.
Ramaphosa was in Namibia as part of his three-nation visit that included Angola, Namibia and Botswana.

Geingob said Namibia would continue to place emphasis on industrialisation as a pillar of regional integration.
“We are convinced that accelerating industrialisation and enhancing prosperity at the national level will accelerate regional integration through the Regional Indicative Strategic Development Plan of SADC,” he elaborated.

On peace and security, Geingob said: “We are mindful of the fact that we cannot achieve regional integration amidst conflict and instability. We should not fail in our efforts in building a new Africa, an Africa free of conflict and one where guns are silent for human progress to be achieved.”

Culled from New era