Namibia RISK & COMPLIANCE REPORT DATE: December 2017
Namibia RISK & COMPLIANCE REPORT DATE: December 2017 KNOWYOURCOUNTRY.COM Executive Summary - Namibia Sanctions: None FAFT list of AML No Deficient Countries Non - Compliance with FATF 40 + 9 Recommendations Higher Risk Areas: Not on EU White list equivalent jurisdictions EU Tax Blacklist Corruption Index (Transparency International & W.G.I.) Medium Risk Areas: Weakness in Government Legislation to combat Money Laundering World Governance Indicators (Average Score) Failed States Index (Political Issues)(Average Score) Major Investment Areas: Agriculture - products: millet, sorghum, peanuts, grapes; livestock; fish Industries: meatpacking, fish processing, dairy products, pasta and beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper) Exports - commodities: diamonds, copper, gold, zinc, lead, uranium; cattle, processed fish, karakul skins Imports - commodities: foodstuffs; petroleum products and fuel, machinery and equipment, chemicals Investment Restrictions: The Government of the Republic of Namibia (GRN) is committed to stimulating economic growth and employment through attracting foreign investment. The government requires local participation before issuing licenses to exploit natural resources and has implemented additional restrictions in the case of certain “strategic minerals”. 1 In 2011, the Namibian government declared uranium, diamonds, gold, copper, and rare earth metals to be strategic minerals. No foreign national is allowed to acquire agricultural land without the prior consent of the Minister of
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