Annual Growth: 4.5%
Country Risk Profile: BBB-
Major Industries: meatpacking; fish processing; dairy products; pasta; beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper)
Major Trading Partners: South Africa, UK, Botswana, Switzerland
Taxation of Oil Production: 5% state royalty, 35% corporation tax, no capital gains, IRR >15%, APT 25%
Existing Presence: Maurel & Prom, Anglo, Areva, DeBeers, Rio Tinto, Glencore
An ethnically diverse republic, which gained political independence from South Africa in 1990, Namibia operates as a stable democracy with a population of approximately 2.2 million.
The government has pursued free-market principles designed to promote commercial development, has good relations with its neighbours, and has actively encouraged international foreign investment.
The 1990 Namibian Foreign Investment Act provides for freedom from nationalisation, freedom to remit capital and profits, currency convertibility and a process for settling disputes equitably.
Namibia's 2014 GDP was estimated at US$13.4 billion and its gross domestic real growth rate was 5.3%. Namibia has a country risk profile of BBB-.
Country Profiles – Foreign and Commonwealth Office, 04.01.2016
Namibia – World Factbook – CIA, 04.01.2016
Fitch Group, 04.01.2016