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Namibian government shuts down production at Whale Rock Cement plant

Namibia Press & Tool Company, the last surviving Export Processing Zone (EPZ) company in Walvis Bay, will close down at the end of the year. Two well-informed sources confirmed this to Namib Times this week, adding the company opts to relocate to another country, as Namibia’s current EPZ tax-regime comes to an end in 2025. “As an EPZ company we don’t pay import or export duties, neither income tax. However, the uncertainty around what to expect beyond 2025 makes it more viable to rather act now, and relocate operations to another country to keep certainty in the equation”, the newspap...