Windhoek: After a six-year gap, the Namibia Industrial Development Agency (NIDA) has released its first annual report, detailing the agency’s progress and strategic plans for the future. The report, covering the financial years 2018/2019 to 2023/2024, reveals a 30 percent increase in NIDA’s assets, reaching N.dollars 1.37 billion, along with a 20 percent rise in total income to N.dollars 164 million over the last six years.
According to Namibia Press Agency, the agency said that despite operating losses of N.dollars 102 million in 2024, it remains focused on its long-term industrialisation goals for the country. At the report’s recent launch, NIDA Chief Executive Officer, Richwell Lukonga, stated the agency is committed to governance and its role in advancing the country’s industrialisation. Lukonga commended the NIDA team for completing six years of financial reports in six months, marking a significant achievement in the agency’s operations. He also paid tribute to Namibia’s Founding President, Sam Nujoma, who inaugurated the building housing NIDA in 1994.
‘NIDA’s mandate goes beyond our daily activities. We must ensure that the vision of an industrialised Namibia by 2030 is realised,’ he said. The annual report provides insights into NIDA’s strategic projects, which span key sectors such as agriculture, industrial infrastructure, and special economic zones. Lukonga also stated that projects like the Kavango Cattle Ranch and Naute Irrigation project are central to the agency’s contributions to the Namibian economy.
The report further previews NIDA’s 2025/26-2029/30 Integrated Strategic Business Plan, which aligns with Namibia’s Vision 2030 and the United Nations Sustainable Development Goals. Julius Nghikevali, NIDA’s Executive Consultant for the CFO Portfolio, presented the financial overview, noting the challenges and progress made. Despite the operating losses, he emphasised that the agency’s assets are well-positioned for future growth.
Minister of Finance, Iipumbu Shiimi, on his part, commended NIDA for its financial transparency and for demonstrating a successful transformation. He urged the agency to focus on generating sustainable income from its assets to ensure long-term financial stability.