Windhoek:Businessman Ranga Haikali has advised Namibians to identify business opportunities by analyzing import and export reports to create products that are currently being imported into the country.
According to Namibia Press Agency , Haikali shared his insights on Nampa's 'Behind the Wheel' talk show, highlighting that he stays informed about various sectors by engaging with experts and reading relevant reports instead of remaining confined to an office. He pointed out that if Namibia imports large quantities of items like cabbage, potatoes, and tomatoes, it presents an opportunity for local cultivation and market supply.
Haikali also indicated that the high importation rates of chicken and pork signify a lack of local production capacity, suggesting that these areas are ripe for investment. He sees the housing shortage, especially for middle-income buyers, as another opportunity, encouraging developers to service municipal land for housing projects.
In the retail sector, Haikali noted that Namibian malls often reflect a South African identity and critiqued small and medium enterprises (SMEs) for purchasing South African franchises that may not be financially sustainable due to associated costs. He emphasized the importance of brand building for businesses to succeed.
Haikali addressed the government's strategy to locally process lithium, advising a phased approach with international partnerships. He mentioned the geographic challenges of water scarcity in areas like the Omaruru and Karibib belt, where lithium processing is planned.
Moreover, Haikali argued that Namibians could benefit more from providing products and services related to the oil and gas industry rather than focusing on exploration licenses, describing it as a niche sector.
He revealed that although he no longer holds a formal job, he lives off dividends, with companies he is involved in employing over 1,800 people. Additionally, African Personnel Services employs more than 4,000 individuals. Haikali retired from the First National Bank (FNB) Namibia board in October 2024 after a 16-year tenure but continues as a shareholder.
Finally, Haikali cautioned retirees about investing their pensions in farming, describing it as more of an expense than a source of income.