‘Sungate will serve as investment magnet’

The Sungate project has not just focused the world’s attention on Namibia, but has also brought opportunity for economic diversification and real entrepreneurship to the country and its people, Namibian deputy minister of finance, Tjekero Tweya, said at the official launch earlier this year. Tweya said the mixed-use property development by Accolade Properties presented immeasurable opportunities for SMME enterprises, which are central to sustainable development and skills enhancement. “We in Namibia are constantly looking for conduits for foreign direct investment and believe Sungate will serve as a magnet. It is estimated to attract $100 million in foreign investment over the 12-year term of the development.” Tweya said with projections of creating over 5000 permanent employment opportunities in its operational phase over the next decade, and set to increase the GDP by 0.5%, the project constituted a substantial contribution to change in Namibia’s landscape. “Long-term skills development through partnerships is central to the government’s vision for a better life for all. It is these partnerships that create sustainable development in our country. The Sungate project not only promotes regional integration, a policy critical to our social-political stability, but also builds capacity for economic transformation,” said Tweya.