Globalisation can bring about many positive and negative changes to any economy. Namibia has enjoyed stability since gaining independence about 3 decades ago. Today, Namibia is struggling to stay afloat amid financial crisis. Numerous international companies such as Ramatex from Malaysia entered the business sphere shortly after independence, with promises to improve the livelihoods of a young economy. However, this only lasted for a very short while, as most of the promises were not met. As with many global companies, Ramatex packed up and left Namibia in less than 10 years. This had a very big impact on Namibia, as the economy had to find new ways to survive. A substantial number of citizens lost their jobs, and the psychological impacts of recovery were very detrimental on the families. Namibians from all across the country flocked to the capital city Windhoek, with the aim of improving their lives, but all these dreams, hopes and aspirations were short lived. This chapter will make use of secondary research documents and in-depth interviews with some of the key stakeholders. On a positive side, the closure of Ramatex led to the birth local manufacturing giant Dinapama Manufacturing and Supplies, which is striving using lessons from the past to build capacity in the local economy.
Part of the book: Globalization