9 March 2007, by Ben Zwinkels. A two days visit to Namibia on the 1st and the 2nd of March 2007 is enough to convince yourself that the continent of Africa is not created to be called "one" Africa, but a continent with so many faces, different aspects, cultures and economical development. Namibia, a huge country in the South-West region of Africa with only around 2 million inhabitants is showing great progress and political stability. The actual president of Namibia Mr. Hifipunye Phamba has set the agenda for economic transformation focusing on good corporate governance, the eradication of corruption, land reform, performance of state owned companies and employment creation. The most important economical sectors in Namibia are mining and tourism. The latest can be further developed, considering the most famous national park Etosha and of course the other regions. Namibia is the 13th fastest growing country in the world in terms of Travel & Tourism Total Demand with around 17,9% of the total employment in the country and 16% contributing to the GDP.
 
The social composition of the population is divers and very interesting. Dominated by the Germans in the colonial history, the country is still showing strong principles in being well-organised, service minded and with correct business integrity. In Namibia there is a high standard of environmental awareness as the capital Windhoek is the cleanest of Africa with high attention for recycling of waste. The question is how sustainable this is for the future and how Namibia will maintain this good reputation. It is clear that the Germans brought values of keeping the country clean, which you do not see anymore in old German colonies like Togo, Tanzania and Cameroon, where environmental awareness is very limited.
 
It was not a coincidence that during this visit also Mr. Robert Mugabe, the president of Zimbabwe came for a two days official state visit to Namibia. On the question why he did, came no clear answer. Is Namibia so friendly with Mr. Mugabe or are there other motives? It was clear that both Mr. Mugabe and Mr. Phamba were friends in the past as freedom fighters against colonial powers. The visit of Mr. Mugabe was accompanied by substantial protests against his policy of bringing Zimbabwe back to the poorest and economically worst performing countries in the world. His presence in Namibia was not at all appreciated by a lot of Namibians, not only because he is an old man of 83 years, but also his statement that he will govern Zimbabwe until he is 100 years old.  
 
During the visit which was mainly to meet an important player in the financial sector namely the top-management of the Windhoek Bank, it clearly appeared that the financial sector in Namibia is already strongly developed. In 2006 the Windhoek Bank has celebrated 24 years of independent banking. The bank has been established in 1982 when a group of Namibian entrepreneurs took over the branches of Volkas Bank. The present chairman Mr. Koos Brandt was one of them and has led the bank to become a retail bank with 28 branches across the country. Bank Windhoek has achieved solid growth by reinvesting its profits and today boasts a wide range of products and services, highly skilled and trained staff and advanced technology. With the Bank Windhoek, FMO is associated in the Cavmont Capital Bank in Zambia, in which the bank has a stake of around 24%. With this investment the Windhoek Bank will roll-out its solid experience in Namibia in technology, Good Governance and SME- entrepreneurial development.
 
Leaving Namibia and travelling to Johannesburg questions came why Namibia has particularly high living standards and why other countries where the Germans had to leave already in 1914 to did reach this level. Bad thoughts came up that it was wrong to hand-over from the Germans the countries Togo, Cameroon and Tanzania to the English and French. Political freedom and back to a situation of full democratic transparency is crucial for the human being, but good systems in place and respect for the nature are essential element for a sustainable life for everyone in the future.  
 
It is believed that for special investors with particular ambitions Namibia could be of interest. Have a look and visit this country you may become very enthusiastic.
 
Ben Zwinkels is a Senior Investment Officer of the Equity Department at the Netherlands Development Finance Company (FMO).
 
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