AGP Executive Report

Uranium Funding Boost: Bannerman Energy has raised A$124m to fully fund Namibia’s Etango uranium project, with construction now backed by partners including China National Nuclear Corporation Overseas and no debt planned. Green Industry Push: Namibia’s NIPDB is urging a stronger pipeline of bankable green industrial projects and is directly connecting local firms with investors at the African Green Industries Summit in Swakopmund, including solar and waste-management pitches. Illicit Finance Warning: The Ministry of Finance says Namibia loses about N$16.7bn a year to illicit financial flows (2021–2022), costing an estimated N$2.7bn in forgone tax revenue, with Cabinet backing publication of inaugural estimates. Aviation Stability: Jet fuel supply at Hosea Kutako International Airport is back to normal after constrained availability, supporting uninterrupted airline operations. Retail Jobs at Risk: Cosatu urges TFG to halt closure of 280 African stores, warning the move could push workers into unemployment amid the shift to online shopping. Meat Exports Readiness: Agriculture minister Inge Zaamwani toured Meatco’s Windhoek abattoir, confirming full slaughter capacity and improved traceability as Namibia seeks new beef export commitments. Local Enterprise Spotlight: A Rundu market vendor’s laundry micro-business shows how small informal trade can grow into registered, resilient income. Policy & Compliance: Namibia is consulting on tighter tobacco controls, including expanded smoke-free zones around health and education facilities. Green Hydrogen Reality Check: Reporting from Namibia’s green hydrogen programme suggests Europe-backed hopes may be harder to bank without long-term offtake deals.

Green Industrialisation Push: Namibia is calling for innovative green financing to fund industrialisation, job creation and wider electricity access, with government targeting higher manufacturing output and using green hydrogen as an enabler for beneficiation and value addition. Investment Pipeline at Summit: The Namibia Investment Promotion and Development Board used the African Green Industries Summit to connect local project owners (solar, waste management and more) with investors, financiers and technology partners. Energy-Mining Deal Momentum: Bannerman Copper’s Etango uranium push advanced as China’s CNNC moved closer to securing ownership and supply rights, with a large funding package tied to the project’s next steps. Copper Supercycle Talk: Mining investors are leaning into AI-driven demand narratives as copper hits record highs, boosting interest in junior explorers and developers. Trade Value-Addition Pressure: Namibia’s trade deficit widened to N$5.9bn in July, underlining continued reliance on imported fuel and industrial inputs while exports remain dominated by mining and fish. CBD Construction Jobs: Bank Windhoek and Capricorn’s new headquarters, Capricorn-on-Main, is set to start operations after compliance certification, with heavy local spend during construction and hundreds of jobs expected. Fisheries Diplomacy Row: A U.S ambassador was turned away from Namibia’s fisheries indaba after arriving without an invitation, adding friction to a sector already under scrutiny. Governance & Land: Minister Zaamwani withdrew a proposed Land Tribunal chair appointment to protect the integrity of the process, then nominated a new legal expert. Local Business & Skills: Vocational training should produce job creators, not just employees, as lawmakers urge stronger links between TVET and real market opportunities. Consumer Safety Recall: Isuzu South Africa recalled thousands of RG19 D-Max bakkies over a possible brake pedal pivot pin issue, including vehicles exported to Namibia.

Copper & drilling: Koryx Copper reported assay results from 15 Haib drill holes (6,825m), including standout wide intercepts like 318m @ 0.49% CuEq and 220m @ 0.40% CuEq, strengthening its Southern Namibia copper case. Mining exploration: Cazaly Resources confirmed its Abenab North magnetic targets and flagged priority drilling sites for copper and rare-earth potential in the Otavi Fold Belt. Vehicle safety: Namibia-linked Isuzu D-Max RG19 recalls were announced after a possible loose brake pedal pivot pin; affected bakkies (sold and exported across the region) need free dealer inspection and replacement. Public procurement integrity: Namibia’s CPBN is in the spotlight after cancelling a veterinary cordon fence tender and then awarding via emergency procurement to a failed open-bidder, raising transparency concerns. Fisheries & food security: Namibia will review expiring fishing rights, with officials warning against “paper” ownership and pushing for real control and better economic returns. Climate risk: Namibia faces a hotter, drier 2026/27 rainfall season as El Niño strengthens, with knock-on pressure for agriculture, water and health preparedness. Tourism & connectivity: Vestige Collection plans an international lodge circuit expansion with Vestige Xaudum opening in March 2027, while Q-KON is expanding smart satellite connectivity for remote eco-lodges across Southern Africa. CBD & construction: Bank Windhoek’s new Capricorn-on-Main headquarters received compliance certification and is set to support Windhoek’s CBD renewal and local contracting. Exports: Gold overtook uranium as Namibia’s top export commodity in July, driven by a global gold price surge.

Fisheries Reform: Namibia’s fishing rights are set for a review after concerns about “paper” ownership, quota control and whether local processing and economic returns match the scale of the resource. Climate & Agriculture: Meteorologists warn of a hotter, drier 2026/27 season driven by intensifying El Niño, with rainfall deficits and up to 3°C above-average temperatures raising alarms for farmers, livestock and water security. Biosecurity for Livestock: Namibia is accrediting 15 truck disinfection facilities in South Africa to curb foot-and-mouth disease risks as cattle exports continue. Transport Regulation: Driving schools face tighter rules, including compulsory instructor training and certification, with new requirements planned from April 2027. Consumer Safety: Isuzu recalls 2,500+ D-Max 2026 bakkies over a brake pedal pivot pin issue. Connectivity & Rural Industry: CRAN is considering 2–3 pilot sites for low-earth-orbit satellite connectivity, including areas tied to commercial and communal agriculture. Energy & Finance: DBN says it has backed over N$1.58bn in clean energy projects, supporting 81.6MW of capacity. Business & Jobs: Namibia’s employers’ federation warns the shrinking formal business base is worsening unemployment and investment pressure. Governance & Oversight: The APRM holds consultations in Windhoek to assess Namibia’s progress on governance recommendations. Local Business Promotion: Coca-Cola launches a Namibia “Under the Cap” campaign offering cash prizes totalling N$1m.

Green Hydrogen & Clean Energy: Siemens’ CMB.TECH has commissioned an off-grid, fully integrated green hydrogen facility in Walvis Bay, pairing solar, electrolysis and battery storage to power industrial demand and cut emissions. Rail & Logistics: A World Bank specialist says Namibia needs an integrated push—investment, policy reform, regulation and commercial restructuring—to revive rail and logistics beyond just line rehabilitation. Fisheries Governance: At the National Fisheries Indaba, stakeholders urged science-led Total Allowable Catch decisions, stronger observer coverage, and ecosystem-aware management, while calling for faster implementation and more value-chain growth. Drought & Agriculture: El Niño warnings point to a hotter, drier 2026/27 season, with farmers already reporting water stress; training programmes continue as land and water shortages intensify. Public Service Jobs & Digital Access: Prime Minister Ngurare calls for digitalisation of public service job applications to end queueing and manual paperwork. Business Climate & Jobs: NEF warns Namibia’s shrinking formal business base is worsening unemployment and says the state can’t keep adding burdens to already pressured employers. Finance & Pensions: RFS marks 27 years in pension administration; Letshego Namibia’s A+ credit rating is reaffirmed. Connectivity for Farmers: CRAN is considering 2–3 LEO satellite pilot sites, including areas tied to commercial and communal agriculture. Local Industry Skills: Parliamentarians argue TVET must shift from producing job seekers to job creators and production-focused training. Regional Governance: Divundu’s village council CEO contract dispute is framed as a test of accountability over loyalty. Retail & Consumer Demand (Region): Namibia-linked retail property data shows consumers are cost-conscious, with trading density and rental growth lagging inflation. Big Capital Markets Watch: Dangote’s refinery IPO is being pitched as an “IPO for the people,” with broad share access across Africa—an external signal for regional industrial finance.

Fisheries Value Push: Namibia’s National Fisheries Indaba in Walvis Bay wrapped with calls to strengthen science, protect marine resources, expand aquaculture and grow the value chain so more Namibians benefit, with President Nandi-Ndaitwah urging locally landed catches and better quota allocation tied to rights holders’ development contributions. Transparency Pressure: The Institute for Public Policy Research urged government to end “secrecy” in fishing by publishing full details of rights and quota-holders, including beneficial ownership, and to move faster on reforms. Digital Reform: Prime Minister Ngurare says Namibia is building a digital dashboard to track sector performance and verify whether economic empowerment is real. Governance & Protocol: US Ambassador John Giordano was reportedly denied entry to the Indaba event at Walvis Bay Town Hall, sparking calls for clarity on invitations and accreditation. Energy Regulation: The Electricity Control Board launched an online platform to streamline applications for embedded and renewable generation, aiming for better planning data and reduced reliance on imports. Construction Wages: Namibia’s new construction minimum wage agreement took effect 1 September, lifting hourly minimums by 5% in year one and another 5% in year two. Local Business Growth: Rundu launched a wholly council-owned commercial subsidiary to generate revenue and improve service delivery as municipal resources stay tight.

Fisheries Reform Push: Namibia’s fisheries sector is under pressure to lift GDP and jobs, with President Netumbo Nandi-Ndaitwah and officials at the National Fisheries Indaba calling for more local landing, processing, youth entrepreneurship and strict quota transparency. Digital Transparency: The Prime Minister says a new fisheries dashboard will help track who benefits and whether empowerment is real. Diplomacy & Protocol: Calls are growing for US Ambassador John Giordano to be recalled after he was reportedly denied entry to the Indaba at Walvis Bay Town Hall, sparking questions over invitations and access. Electricity Regulation: The Electricity Control Board launched an online platform to speed up embedded generation applications and improve planning data for renewables. Corporate Social Investment: The President urged CSI to move beyond donations into lasting community impact, skills and accountability. Mining & Exploration: Kaoko Metals is expanding drilling after early Chalkos copper-silver results drew strong investor interest, while ReconAfrica boosted funding for Kavango West testing. Investment Climate: Namibia launched a new five-year employment permit for investors to cut red tape. Roads & Trade Logistics: Delays on the Bukalo-Muyako road are being probed, and customs clearing agents formed a new association to get a stronger voice in trade decisions.

Construction Labour Deal: Namibia’s construction sector minimum wages and conditions kick in from 1 September for two years, with minimum pay set at N$20.43/hour (rising to N$21.45/hour in 2027) plus protective gear and productivity rules. Presidential Procurement Whispers: A backer of President Netumbo Nandi-Ndaitwah has been awarded the first phase contract for the Oshakati presidential guest house, raising fresh questions about tender transparency and contract inflation. Fisheries Value Push: At the National Fisheries Indaba, the President urged more value addition, local landing and processing, youth entrepreneurship and stricter quota accountability. Fisheries Reform Pressure: Minister Inge Zaamwani warned the Indaba must deliver action, while stakeholders also face growing concerns over seals and fish-stock pressure. Environmental Clash: An editorial and legal dispute spotlight marine phosphate mining after government appeals over environmental clearance decisions tied to alleged process failures. Lithium Ridge Sprint: Andrada targets 2028–29 production at Lithium Ridge, accelerating drilling and feasibility work to ride a lithium demand upswing. AI for Business: V5 Digital launched an AI Academy in Windhoek to help organisations move from interest to practical, responsible implementation. Gold Buying Signal: Central banks bought about 130 tonnes of gold in the first seven months of 2026, with China and Poland leading. Biosecurity Move: Namibia is accrediting South African livestock truck wash and disinfection facilities to reduce foot-and-mouth disease risks. Investor Entry Ease: Home Affairs launched a new up-to-five-year employment permit for investors, aiming to cut red tape and improve certainty. Rundu Revenue Plan: Rundu Town Council launched a wholly owned commercial company to broaden revenue and support local service delivery.

Fisheries Reform Push: At Walvis Bay’s National Fisheries Indaba, Minister Inge Zaamwani warned stakeholders the sector can’t keep “talking” and urged urgent reform, including more local onshore fish processing and a transparent quota system that rewards investment in factories, jobs and packaging. Competition & Tourism: The Namibian Competition Commission said its probe into alleged exclusive conservancy arrangements won’t disrupt tourism operations, and is working with MEFT to align legal frameworks. Oil Sector Update: TotalEnergies has completed its Galp swap and is now operator of Namibia’s Mopane discovery (PEL83), while also holding stakes across PEL56 and PEL91—aiming for appraisal work and a potential 2028 FID. Investor Entry Simplified: Home Affairs launched a new up-to-five-year employment permit for investors, cutting administrative barriers to improve Namibia’s investment climate. Construction Wages Set: New minimum wages and conditions for construction workers took effect 1 September for two years, with hourly rates rising from N$20.43 and safety gear requirements. Local Business & Jobs: Rundu Town Council launched a wholly owned commercial company to broaden revenue and support service delivery. Water & Sanitation: Katima Mulilo residents welcomed a N$450m wastewater plant expected to run 13–14 months and create jobs. Wildlife Monitoring: Conservation groups are rolling out cross-border wildlife censuses using aerial counts and camera traps, including a lion census in Kgalagadi Transfrontier Park. AI Skills for Industry: V5 Digital launched an AI Academy in Windhoek to help organisations move from interest to real implementation.

Oil & Gas Deal: TotalEnergies has completed its Namibia asset swap with Galp, taking operatorship of the Mopane-linked PEL83 (40% operated) and positioning for appraisal ahead of a potential 2028 FID, with partners including Namcor and Custos. Fisheries Reform: At the National Fisheries Indaba, Minister Inge Zaamwani pushed for onshore processing and a more transparent quota system, while also calling for a balanced approach to the growing seal population to protect fish stocks and livelihoods. Competition & Tourism: Namibia’s Competition Commission says its probe into conservancy tourism exclusivity arrangements won’t disrupt the sector, aiming instead to align conservation, empowerment and fair market rules. Construction Labour: New minimum wages and conditions for construction workers took effect on 1 September for two years, including safety gear requirements and staged wage increases. AI for Business: V5 Digital launched a Windhoek AI Academy to help organisations move from interest to implementation via readiness checks, training and advisory support. Local Governance & Jobs: Rundu launched a council-owned commercial company to broaden revenue and support service delivery, while President Nandi-Ndaitwah urged corporate Namibia to expand internships, apprenticeships and start-up equipment. Health Funding: Namibia and the US announced a phased reduction of US HIV-AIDS assistance as Namibia integrates its response into national systems. Road Safety: Nampol in Usakos says a reported Usakos–Henties Bay road blockade was staged by minors seeking attention for food and money, and the route remains safe. Energy/Mining Finance: ReconAfrica plans to raise about N$174m to fund further Namibia exploration and production testing. Diplomatic Tension: Reports claim the US ambassador was denied entry to a presidential event in Walvis Bay, raising questions over protocol versus a snub.

Oil & Gas Dealmaking: TotalEnergies has secured Namibian approval to take operatorship of the Mopane discovery, buying a 40% operated interest in PEL83 from Galp; in return, Galp takes interests in PEL56 (Venus) and PEL91, with TotalEnergies now positioned as operator of Namibia’s two largest oil discoveries and targeting appraisal later this year, with FID expected in 2028. Energy Regulation: The Electricity Control Board launched Namibia’s Embedded Generation Online Application Platform, replacing paper processes so households and businesses can apply for and track rooftop solar and battery connections faster and more transparently. Agri-Food Leadership: The Livestock and Livestock Products Board appointed Vehaka Tjimune as CEO from 1 September, bringing decades of agri-food policy and value-chain experience. Construction Labour: New minimum wages and conditions for construction workers took effect on 1 September for two years, with hourly minimums starting at N$20.43 and rising in 2027, plus clearer safety and productivity requirements. AI for Business: V5 Digital launched a Windhoek AI Academy to help organisations move from interest to implementation via readiness checks, training and rollout support. Fisheries Policy: At the National Fisheries Indaba, Minister Inge Zaamwani pushed for onshore processing and a more transparent quota allocation system, while also flagging seal population pressure on fish stocks. Local Governance & Jobs: Rundu Town Council launched a wholly owned commercial company to broaden revenue and support municipal service delivery, with profit framed as secondary to public service. Road Safety: Nampol in Usakos says the Usakos–Henties Bay “roadblock” was staged by minors seeking attention and food money, and the route remains safe. Diplomatic Snub Claim: Reports say the US ambassador was denied entry to a presidential event in Walvis Bay, raising questions over security protocol versus a diplomatic exclusion.

Oil & Gas Deal: TotalEnergies has been cleared to take over as operator of Namibia’s Mopane discovery, completing its Galp swap for PEL83 (40% operated), while Galp takes stakes in PEL56 (Venus) and PEL91—setting up a possible FID in 2028 and first oil around 2033. Competition & Tourism: The Namibian Competition Commission says its probe into alleged conservancy exclusivity arrangements won’t disrupt tourism operations, and is working with MEFT to align rules. Fisheries Reform: Fisheries Minister Inge Zaamwani urged urgent action to protect fish stocks, linking healthy marine ecosystems to the future of fishing, processing, maritime services and jobs. Power & Renewables: The Electricity Control Board launched a single embedded-generation online application platform to speed up and standardise rooftop solar and battery connection approvals. Agriculture & Livelihoods: A financial inclusion survey shows 87.1% of farming households grow food mainly for self-consumption, with very limited commercial farming. Space & Industry: Namibia is drafting a Space Science Act and agency framework after public engagement, aiming to enable R&D and possible commercialisation. Circular Economy: GreenCycle expo returns 30–31 October with a push for measurable impact and targets 5,000+ green jobs by 2030. Youth & Skills: President Nandi-Ndaitwah called for more corporate internships, apprenticeships and start-up equipment to tackle youth unemployment. Transport Regulation: Windhoek introduced a heavy-vehicle permit system, with enforcement starting from October.

Energy & Oil & Gas: TotalEnergies has completed its Galp swap, taking a 40% operated interest in Namibia’s PEL83 (Mopane) and positioning itself as operator across Namibia’s two biggest discoveries, with appraisal work and a possible FID aimed for 2028. Mining & Uranium: Namibia’s uranium landscape gets a compliance shake-up as South Africa’s IDC moves to sell its stake in Rössing Uranium after sanctions risk tied to Iranian and Russian backers. Mining & Copper: Kaoko Metals surged after reporting visible copper hits at the Chalkos project, adding fresh momentum to Namibia’s copper exploration story. Agriculture & Fisheries: Fisheries governance is under the spotlight at the National Fisheries Indaba, with Minister Inge Zaamwani pushing stakeholders to examine access rules, transparency and value-chain benefits. Marine Phosphate: Zaamwani has appealed an environmental clearance for the Sandpiper marine phosphate project, escalating political and regulatory pressure around offshore mining. Transport & Logistics: Windhoek introduces a heavy-vehicle access and permit system, steering transit freight to the bypass and tightening enforcement from October. Business Climate: Government launches a five-year Investor Permit to streamline foreign business entry, with NIPDB as the first submission point. Humanitarian & Migration: Amnesty accuses Namibia of leaving drought-displaced Angolans—especially women and children—in a protection gap, including risks of arrest and deportation. Consumer & Health: Woolworths/NCC recall WBeauty Complete Clarifying Shampoo over bacterial contamination concerns.

Phosphate & Environment Clash: Agriculture minister Inge Zaamwani has appealed the environmental clearance granted for the Sandpiper marine phosphate project, arguing the process lacked proper coordination and raising fresh questions over how ECC decisions are handled. Oil & Gas Deal Momentum: TotalEnergies has gained final approval to become operator of offshore PEL 83 (Mopane discovery) after completing its reshuffle with Galp—while Galp picks up stakes in PEL 56 (Venus) and PEL 91—setting up a three-well appraisal and a Mopane FID target for 2028. Mining Markets Watch: Copper is back in the spotlight as Namibian explorer Kaoko Metals surged after visible copper hits at Chalkos, feeding broader optimism for industrial and critical minerals tied to AI and data-centre demand. Gold Reserve Push: Central banks added 23 tonnes of gold in July, with China and Poland leading purchases, keeping gold forecasts elevated. Payments & Fintech: Namibia’s new instant payments system, WayaMe, is set to improve interoperability between banks and wallets, aiming to make transfers faster and more seamless. Agribusiness Investment: NAB will invest N$250m into the crop sector to scale small-scale farming into viable commercial production, with a focus on value chains and market access. Household Credit: Namibian households borrowed N$438.7m more in July, lifting total individual credit to N$72.74bn, with mortgages and asset finance showing continued demand.

Oil & Gas Deal: TotalEnergies has completed its transaction with Galp, taking a 40% operated interest in Namibia’s PEL83 (Mopane discovery), while Galp picks up stakes in PEL56 (Venus) and PEL91—setting up a Mopane appraisal push toward a possible 2028 final investment decision. Energy Policy & Local Content: Government says it’s moving upstream petroleum local content regulation under the Upstream Petroleum Unit, a shift that could reshape oversight and compliance for the sector. Uranium Momentum: Core Energy Minerals inks an earn-in deal that could lift its stake to 51% in a Namibia uranium joint venture near Langer Heinrich, while Paladin’s Langer Heinrich enters 2027 with a 21Mlb contracted sales base through 2030. Mining Labour: Namibia extends the 2026 construction collective agreement across the industry, standardising wages and safety gear—while the mining union calls for stronger worker representation in licence decisions. Agriculture Investment: NAB will invest N$250m into crop value chains to turn small-scale farming into viable commercial enterprises. Business Permits: A new five-year employment permit regime is launched for qualifying investors, with applications routed via NIPDB for assessment. Transport & Aviation: Government rejects a leaked Namibia Air document, insisting no binding agreement has been signed with Ethiopian Airlines. Sports & Tourism: Namibia targets lifting sport’s employment contribution to 3.5% by 2030, linking sport, creativity and tourism in Windhoek’s Creative Sport Tourism Expo. Food & Consumer: Coca-Cola’s N$1m “Under the Cap” promotion returns, and Premier Fishing Group announces an acquisition drive to build an African fishing and aquaculture champion.

Mining & Labour: The Mineworkers’ Union of Namibia (MUN) is urging stronger worker representation in mining policy and investment decisions, including how mining licences are issued. Energy Policy: Namibia’s Presidency has taken control of upstream petroleum local content by appointing the Upstream Petroleum Unit as the local content regulator, a move raising questions about parliamentary oversight. Uranium Watch: Deep Yellow says it’s weighing multiple funding routes for its Tumas uranium project ahead of a final investment decision expected in Q4. Renewables Push: OL Energy targets a gigawatt-scale renewable project by 2029, building on its Schönau Solar Project and adding biomass heat plans for industry. Transport & Logistics: Windhoek’s new heavy-vehicle access and permit system starts rolling out now, with enforcement and fines set for 1 October. Agriculture & Water: Ohangwena’s Ohandjombali village has been without running water since June, forcing costly purchases and disrupting school and hygiene. Food Security Climate Risk: South Africa braces for El Niño-linked below-normal rainfall, with drought concerns for grain and oilseed farmers. Business & Skills: Agribank’s crops and poultry adviser has resigned; meanwhile, Namibian youth are preparing for global skills competition in China. Conservation: Human-wildlife conflicts in Namibia have reached 77 deaths and major livestock losses from 2022-2026, with new mitigation measures underway. Trade & Retail: Shoprite’s acquisition of coffee chain Vida e Caffè expands its coffee and convenience footprint across Namibia and the region. Nuclear Testing: Namibia renewed calls at the UN to end nuclear testing and will host a CTBTO field exercise in Swakopmund from 5 October to 20 November.