Namibia–South Africa relations Rand (approximately US $36,274), down from 927,917 rand in 2007. The issue of Walvis Bay, an important port over which South Africa retained control following independence, was returned to the government of Namibia on 1 March 1994, prior the election of Nelson Mandela as President of South Africa. Namibia–South Africa relations Namibia–South Africa relations refers to the current and historical relationship between Namibia and South Africa. South Africa conquered the area now known as Namibia from Germany during World War I and occupied it until 1990, when it gained independence. During those 75 years, thousands of South Africans settled in
History of South Africa (1994–present) policy, adopted neoliberalism instead. A wealth tax on the super-rich to fund developmental projects was set aside, while domestic and international corporations, enriched by apartheid, were excused from any financial reparations. Large corporations were allowed to shift their main listings abroad. According to a leading South African economics expert, the government's concessions to big business represented "treacherous decisions that [will] haunt South Africa for generations to come". History of South Africa (1994–present) South Africa since 1994 transitioned from the system of apartheid to one of majority rule. The election of 1994 resulted in a change in government with the African