China Deepens Namibia Investment With $6M Hospital Donation
After a two-year certification approval process, the government of Namibia was handed a China-funded hospital to open in the country’s Oshikoto region. According to a Xinhua report, the Namibia Standards Association put off certifying the building in 2012 — three years after construction of the hospital began.
With a functional administration department, mortuary and out-patient center, 15 percent of construction will resume and be completed this year. The hospital is slated to open in April.
“The Chinese will be sending people to translate into English in due course,” Peter Angala, Oshikoto regional health director said in the report referencing equipment instructions. “We are working tirelessly to make sure the hospital is fully completed as we want to put an end to patients going all the way to Onandjokwe for treatment.”
Last month at a Chinese New Year event, Standard Bank Namibia put out a call for more trade and investment between China. A New Era report noted that both nations are benefiting from working together — China by driving wealth, and Africa by making China one of its largest export markets. One reason Africa is an ideal investment destination is because of China’s reliance on boosting natural resources, New Era noted.
“We want to use this bond to help our Chinese business community in Namibia to network, but also to transact and to do business in a more seamless manner. We also congratulate the Chinese in celebrating the Year of the Goat,” Amit Mohan, Standard Bank Namibia’s Head of Corporate and Investment Banking said.
“Standard Bank has significant shareholding of just over 20 percent with China’s biggest bank, ICBC. Our connection with the Chinese business community is therefore very inherent.”
Roughly 15 million pounds of uranium oxide are expected to be produced from the Husab Uranium mine that China General Nuclear Power Holding Corp (CGN) recently poured $2 billion into. This investment is China’s second largest in Africa and their largest investment in Namibia.