Chinese retailers in townships raise eyebrows

The Namibian Chamber of Commerce and Industry has spoken out against the illegal establishment of Chinese trading shops in informal settlements, contrary to the Foreign Investment Act of 2010 that forbids foreign nationals from engaging in trade reserved for Namibians. Last year, President Hage Geingob signed into law a provision that would reserve specific sectors for Namibians. The Namibia Investment Promotion Act reserves business activities, such as food take-way businesses, street vending, hairdressing, beauty salons, catering and retail for Namibians. Local businesses often invest in local banks and pay better wages to their employees, compared to some foreign-owned businesses but are shutting down, because of tough competition. –New Era/

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