AGP Executive Report

Oil & Gas Dealmaking: Equinor has agreed to buy a 17.4% stake in Chevron-operated Namibia’s Orange Basin PEL 90 (Block 2813B), giving it access to a drill-ready offshore prospect planned for 2026, with QatarEnergy, Trago Energy and NAMCOR as other partners. Regional Integration Agenda: Namibia’s President Netumbo Nandi-Ndaitwah backed SADC’s push for industrialisation, infrastructure, agricultural transformation, critical minerals and faster regional trade at the 46th summit in Durban. Digital Payments for Trade: Standard Bank and UnionPay expanded UnionPay e-commerce acceptance to nine African markets, including Namibia, enabling merchants to accept secure cross-border card payments online. Local Content Push: Ahead of the Namibia Oil and Gas Conference, NIPDB hosted a local supplier pitching session to connect Namibian firms to oil and gas procurement, financiers and vendor onboarding. Critical Minerals Spotlight: Aldoro Resources says Namibia’s Kameelburg project hosts the world’s largest reported strontium resource, potentially strengthening the critical minerals supply chain. Mining Pressure on Kunene: NEFF called for tighter controls on mining and foreign workers in Kunene, alleging illegal operations that sideline small-scale miners. Procurement Reform: Namibia’s revised public procurement regulations (in force from 4 August) expand discretion for 80+ public entities and adjust thresholds to cut delays and improve supplier access. Business & Finance: Letshego Namibia reported a 2% profit rise to N$253.5m for the first half of 2026, while Standard Bank’s partnership moves and appointments underline continued focus on trade and treasury solutions.

Rhino Poaching Crisis: Namibia reports 18 rhinos killed for horns this year, with 13 in protected areas and five on commercial farms, after a shoot-out between suspected poachers and patrols. Household Debt Pressure: Parliament hears claims workers are trapped in exploitative loan cycles, with some reportedly clocking in as early as 03h00 to avoid lenders. Local Content Push in Oil & Gas: Government says local content must mean real capability, value and skills in Namibia—not just registration or token local shareholding—aiming to build an industry ecosystem. Affordable Housing Oversight: A parliamentary committee flags housing costs as too high and urges clearer price bands so affordability is matched to delivery, with more support for regions and local authorities. Investment Rules for Foreigners: Namibia will introduce a five-year employment permit for qualifying foreign investors from Sept. 1, with applications routed via the investment board and an economic impact assessment. Competition Watch: The Namibian Competition Commission investigates Rani Group and major consumer suppliers over alleged anti-competitive practices harming small retailers. Energy Deal Signals Momentum: Equinor buys a 17.4% stake in Chevron-operated offshore PEL 90 in Namibia’s Orange Basin, giving it a drill-ready prospect for 2026 while Chevron remains operator. US-Namibia Energy Ties: A senior US delegation seeks deeper cooperation on energy security, critical minerals and infrastructure, including emerging technologies. Tourism Jobs at Risk: Etosha rules banning empty game-viewing vehicles threaten local tour operator income and livelihoods, with cancelled bookings already reported. Labour Enforcement Bottlenecks: Erongo unions say workplace inspections are hampered by shortages of inspectors, vehicles and funding, weakening worker-rights enforcement. Creative Sector Funding: The education ministry backs local film and creative talent via a N$17.5m MoU, targeting 470 jobs and urging NBC to amplify Namibian content.

Tourism Compliance: Namibia Tourism Board steps up its “KNOW NTB Register. Comply. Thrive” drive, warning accommodation operators with outstanding tourism levy returns or payments to regularise or face consequences. Energy & Investment: ASP Isotopes says its Quantum Leap Energy unit has started public consultation for a proposed pilot hydrofluorination/fluorination facility in Walvis Bay, while Chevron confirms an oil and gas condensate discovery in Angola’s Block 0 that could tie back to existing infrastructure. Mining Finance: Andrada Mining secures N$98m from Bank Windhoek and the Development Bank of Namibia to expand ore-sorting at Uis Tin Mine, targeting a major jump in concentrate output. Local Jobs & Skills: A N$17.5m Local Content Plan is set to support film production and create about 470 direct jobs across Namibia’s creative sector. Regulation Watch: Namibia Medicines Regulatory Council warns against unregistered injectable weight-loss products sold online and in informal markets, citing risks of wrong ingredients and contamination. Banking Leadership: Standard Bank Namibia appoints Jerome Namaseb as executive officer for personal & private banking. Sports & Youth: NNOC outlines plans to identify and back athletes with the goal of sending at least 15 to the next Olympics. Business Closure: Farmers Meat Mariental abattoir shuts permanently after losses, affecting 102 workers.

Oil & Gas Policy: Government moves to stop foreign-controlled firms from “fronting” as Namibian operators in the petroleum sector, with a new disclosure push on beneficial ownership and shareholding. Energy & Investment: Chevron confirmed a major offshore Angola discovery in Block 0, while ReconAfrica reported progress on Kavango West testing and plans for open-hole horizontal production. Mining Finance: Bank Windhoek and DBN approved N$98m for Andrada’s Uis ore-sorting expansion, aiming to lift tin concentrate output. Banking Leadership: Standard Bank Namibia appointed Jerome Namaseb to lead personal and private banking, as corporate clients face tighter cash and supply-chain pressure. Monetary Policy Debate: Business groups pressed the Bank of Namibia on the cost of the Rand peg to the Namibian economy. Agribusiness Pressure: Zambezi livestock farmers petition for the Katima Mulilo abattoir to reopen after ZamCo took over and the facility stayed closed. Regional Trade & Integration: SADC leaders met in Durban with renewed calls for faster integration and industrialisation, while India and SACU set a deadline to revive preferential trade talks. Governance & Land: Traditional authorities clash over Bwabwata National Park jurisdiction, and Namibia’s Competition Commission raised merger thresholds to ease small-deal regulation.

SADC Summit Watch: President Cyril Ramaphosa opened the 46th SADC Heads of State summit in eThekwini, urging faster regional integration and industrialisation while flagging that intra-SADC trade still sits at about one-fifth of total trade. Regional Trade Talks: India and SACU signed Terms of Reference to restart negotiations for a Preferential Trade Agreement worth up to US$17bn, with Namibia’s trade ministry welcoming the structured framework. Namibia’s Public Assets: Cabinet approved the creation of the Public Assets Management Agency (PAMA) to improve transparent management of commercial state assets. Mining & Finance: Andrada Mining’s Uis Tin Mining Company secured N$98m in loan facilities for ore-sorting expansion; Koryx Copper reported positive Haib drill results ahead of a pre-feasibility study later in 2026. Banking & Markets: Standard Bank Namibia rolled out Dynamic Currency Conversion on its ATMs for international visitors; NSX’s Overall Index fell 1.53% week-on-week as financials and materials retreated. Governance & Security: Chief Justice Peter Shivute convened talks on a security plan for 400+ magistrates and prosecutors after high-profile attacks. Wildlife & Tourism: Namibia’s large carnivore numbers raised alarms over human-wildlife conflict, while the NaCC launched an investigation into alleged anti-competitive tourism concessions and joint ventures. Entrepreneurship: Registrations opened for GEC+Africa 2026 in Cape Town, focused on connecting entrepreneurs to markets and investment.

High Court Ruling: Namibia’s High Court dismissed Johann Wickus Maree’s N$300,000 defamation claim against Namibian Sun and Network Me, with the judge ruling the article was not defamatory. SADC Industrial Push: Namibia says it is aligning mineral beneficiation priorities with SADC’s industrialisation agenda, stressing regional value chains and value-added exports. Capital Markets Crackdown: Namibia’s SEC moves in line with FATF updates, directing capital market operators to cut banking and business ties with North Korea and Iran. Governance in Focus: Namibia appoints a temporary board for the Namibia Airports Company to improve performance and lawful operations. Housing & Cost Pressure: Windhoek renters face rising costs, with rent taking 30%–50% of household income, reigniting calls for rent control. Health System Commitments: PM Elijah Ngurare pledges quality healthcare for all, while staff cite overcrowding, medication shortages and bed constraints. Livestock Exports: EU livestock inspections were suspended due to funding gaps, but a temporary arrangement aims to prevent export disruptions. Business Competition Policy: NaCC consults on raising merger notification thresholds from N$30m to N$60m to better match market realities. Local Security: Windhoek police investigate a robbery in Eros where a woman was tied up and goods worth about N$51,000 were stolen.

SEC crackdown on high-risk states: Namibia’s SEC has ordered capital market operators to cut correspondent banking and restrict dealings tied to North Korea (DPRK) and Iran, citing FATF AML/CFT updates and the Investments and Securities Act. Competition policy update: The Namibia Competition Commission is consulting on raising merger notification thresholds from N$30m to N$60m, aiming to balance market protection with lower administrative burden. Local governance under fire: IPC shadow minister Nelson Kalangula challenges the Public Assets Management Agency (Pama) over profit-driven management of public property before full legislation, warning of governance and legal gaps. Labour oversight push: Unions are demanding a formal role in parliamentary workplace visits, arguing parliament is duplicating union work and should publish findings for follow-up. Small-scale mining reform: A parliamentary committee calls for urgent overhaul of Namibia’s small-scale mining sector, including clearer legal treatment of disputes between licence holders and local right holders. EU livestock export pressure: EU livestock inspections were suspended due to funding shortfalls, but a temporary arrangement is being used to prevent export certification disruptions. Health sector staffing strain: Kavango West cleaners at Tondoro Health Centre were reportedly pulled into construction work without pay agreements, highlighting funding and service-delivery gaps.

Namibia-Cuba Solidarity: President Netumbo Nandi-Ndaitwah renewed Namibia’s call for the complete and unconditional lifting of the US embargo on Cuba, saying unilateral coercive measures violate UN principles and hit ordinary people hardest. Competition & M&A: Namibia’s Competition Commission says it wants to raise the mandatory merger notification threshold from N$30m to a combined N$60m, arguing current cut-offs are outdated since 2017. Health Regulation: Namibia’s Medicines Council warned against unregistered GLP-1 and peptide medicines sold online and via informal markets, stressing no grace period and possible seizure and prosecution. Digital Access in Healthcare: CRAN’s plan for free Wi-Fi at two state hospitals ties into the Universal Service Fund and broader broadband goals. Local Business & Jobs: Swakop Uranium backed Ovahimba women’s businesses with N$70,000, while Bank Windhoek donated essentials to a disability centre in Omuthiya. Public Safety: Kavango East leaders demanded urgent fixes after a fire destroyed N$1.6m in property, citing non-functional firefighting equipment. Youth & Skills: The Namibia Learning Passport was launched to expand digital education access for rural learners. Finance & Living Costs: A report highlights how many Namibians on modest salaries still can’t make it to payday, underscoring pressure on household budgets.

Cuba Embargo Push: Namibia’s President Netumbo Nandi-Ndaitwah renewed calls for the complete and unconditional lifting of the US embargo on Cuba, arguing unilateral sanctions violate UN principles and hit ordinary people hardest. Housing Finance: Namibia faces a housing backlog estimated at N$45 billion over 10 years, with economists urging smarter financing tools like mortgage securitisation and liquidity facilities rather than relying only on new borrowing. Digital Education & Connectivity: The Namibia Learning Passport was launched to expand digital and offline learning for youth beyond classrooms, while CRAN’s free Wi-Fi plan for state hospitals ties into broader broadband goals. Health & Medicines Compliance: The Medicines Council warned against unregistered GLP-1 and peptide drugs marketed online, saying there is no grace period and penalties apply. Energy Poverty Focus: A renewed push to end energy poverty highlights how unreliable access is undermining jobs, health and industrial growth. Creative Economy Mapping: The Creative Industry Institute Africa rolled out a mapping and registration campaign to better quantify and grow Namibia’s creative sector as an economic driver. Local Business & Investment: Old Mutual Namibia was named Namibia’s most trusted wealth management provider for 2026, reflecting strong assets under management and continued investor inflows. Mining & Environment Tension: Swapo Youth League called for urgent review of the ECC for Sandpiper Marine Phosphate, warning of risks to fishing livelihoods and marine ecosystems.

Housing Crunch: Namibia needs about N$45 billion over 10 years to tackle the housing backlog, with economists pointing to mortgage securitisation and liquidity facilities as options to “revamp the whole system” rather than relying on a housing bond alone. Repo Rate Watch: The Bank of Namibia kept the repo rate unchanged at 6.75%, citing subdued growth and a relatively calm inflation outlook, even as inflation has been edging up. Creative Economy Push: The Creative Industry Institute Africa launched a mapping campaign for the 2026/27 Creative Industry Guide, adding a digital directory to help creatives register and be seen as a business engine, not just culture. Digital Sovereignty: Pressure is mounting for Namibia to build stronger digital infrastructure, as seen in Nigeria’s push for local cloud capacity to cut costs and reduce foreign currency outflows. Cuba Embargo Politics: President Netumbo Nandi-Ndaitwah renewed Namibia’s call for the unconditional lifting of the US embargo on Cuba and says the blockade harms ordinary people; a solidarity drive has raised about N$700,000. Phosphate vs Fishing: Swapo Youth League is calling for the environmental clearance for Namibian Marine Phosphate to be reviewed and set aside, warning of risks to marine life and jobs tied to fishing. Competition Regulation: Namibia’s competition watchdog is reviewing merger notification thresholds and filing fees to reduce burden on smaller deals. Consular & Trade Links: The US appointed Brandon Hudspeth as Consul General in Lagos; he previously served in Windhoek and says priorities include expanding trade, investment, and innovation. Human Trafficking Alert: Zambezi recorded 14 human trafficking cases over eight years, with victims often lured into forced criminality and exploitation.

Namibia–Cuba Solidarity: Namibia’s humanitarian push for Cuba has topped N$700,000, with President Netumbo Nandi-Ndaitwah renewing calls for an end to the US embargo as donations are set to support medical supplies and solar kits. Fuel & Energy Policy: Namibia’s aviation fuel access dispute took another turn after the High Court clarified that NAC must allow Puma Energy to resume fuelling operations at Eros and Ondimba Toivo ya Toivo airports. Labour & Wages: CRAN and NAPWU signed an agreement for a 5% annual wage increase for the 2026/27 financial year. Mining & Investment Pipeline: The NamXplor pitch challenge shortlisted 10 Namibian exploration/early-stage projects to connect with investors and accelerate “investment-ready” development. Creative Economy Push: Namibia launched a national mapping campaign to quantify the creative sector’s size and economic contribution, aiming to unlock jobs and investment. Road Safety on C28: Mining firms and agencies launched the C28 Road Safety Campaign with a voluntary charter to cut accidents on the Swakopmund–Windhoek corridor. Finance Watch: Bank of Namibia data shows capital outflows to South Africa at about N$10bn year-to-date, with officials warning that a wider interest-rate gap could pressure reserves.

Banking & Finance: Windhoek financial adviser Hanjo Schlabitz, now in liquidation, has offered to sell his house and shares to repay creditors after losses of about N$250m tied to a collapsed forex platform. Mining & Communities: Katora community in Erongo is demanding a 5% stake in the Kokoseb gold project, pushing for direct participation, fair compensation and a community benefit-sharing agreement. Trade & Investment: Namibia is eyeing China’s zero-tariff access to diversify exports, while India and SACU signed terms of reference to start negotiations on a preferential trade deal. Energy Policy: The Electricity Control Board is exploring a framework for independent transmission companies, as government insists the grid remains a sovereign asset. Labour & Compliance: Labour ministry inspections found 28% of wholesale and retail businesses breached basic labour laws; meanwhile, Gendev Fishing workers camp outside the company over a wage dispute. Business & Risk: A property preservation order has frozen N$3.5m linked to alleged drug dealing and money laundering in a case involving a Burundian national. Transport & Tourism: Namibia Air’s revival gets momentum with licence handovers, and a new Erongo-focused newspaper, The Current, launches in Walvis Bay. Economy Outlook: Bank of Namibia cut its 2026 growth forecast to 2.1% as mining, manufacturing and transport activity stayed weak.

Wage Dispute: Over 600 Gendev Fishing workers camped outside the company for about 20 days, rejecting a proposal to cut pay to 70% during reduced operations and demanding a legally compliant, fully negotiated salary and entitlements. Infrastructure Delivery: Works and transport minister Veikko Nekundi handed over a N$132m Walvis Bay road rehabilitation covering six roads (about 8km), with Unik Construction tasked to finish on time, within budget and to quality standards. Fisheries Integrity: Fisheries minister Inge Zaamwani told the ACC workshop that Namibia will enforce zero tolerance on corruption in fishing rights and quota allocation, warning graft threatens both state revenue and fish-stock sustainability. Trade Talks: India and SACU signed Terms of Reference to launch Preferential Trade Agreement negotiations, aiming to conclude within a year and covering goods, rules of origin, customs, SPS and dispute settlement—potentially reshaping market access for Namibia and the region. Monetary Policy: The Bank of Namibia kept the repo rate at 6.75%, maintaining the Namibian dollar peg while noting weak first-half activity and revised 2026 growth to 2.1%. Tourism Targets: Namibia’s tourism ministry set a goal to lift tourism’s GDP contribution to N$18.5bn by 2030, alongside higher gaming revenue and visitor numbers. Veterans Funding Gap: Opposition shadow minister Aloisius Kangulu pressed government to explain a N$1.9bn backlog in Individual Veterans’ Projects for about 11,000 liberation veterans.

Monetary Policy Watch: The Bank of Namibia kept the repo rate unchanged at 6.75% and flagged weak first-half activity, with inflation rising to 4.4% in June and the trade deficit widening to N$19.3bn—growth is now forecast at 2.1% for 2026. Climate Finance Gap: Namibia says it needs about N$239bn from foreign climate funding to implement its climate plan, while also weighing oil-related risks as it plans ahead. Growth Outlook: The central bank expects a recovery supported by better agriculture, steady uranium mining, and continued trade and construction, but diamonds and metal ores remain under pressure. Trade & Investment Links: India and Namibia agreed to deepen trade and critical-minerals cooperation, including value addition and new working groups; India also signed SACU PTA talks ToR, aiming to conclude negotiations within a year. Competition & Consumer Protection: The Namibia Competition Commission and NBC are moving to a five-year partnership to boost public awareness and help businesses comply with competition rules. Infrastructure Accountability: Ongos Valley says it has submitted rehabilitation plans after early deterioration on parts of the Eneas Peter Nanyemba Road, blaming construction on an active “live site” with ongoing traffic. Housing Pressure: FNB data shows prices rising (up 7.4% in Q2) even as sales slow, pointing to affordability and supply constraints. Governance Scrutiny: Rundu Town Council faces questions after Auditor-General findings on income reversals and delayed financial reporting. Environment vs Phosphate: The President is reportedly unhappy with marine phosphate clearance granted for the Sandpiper project, warning Namibia should not be “used for an experiment” in the ocean. Youth & Labour Tensions: Youth advocates say policies are not translating into real opportunities, while unions and employers clash with the labour minister over Labour Advisory Council representation.

Unam Veterinary Hospital Funding: The University of Namibia is seeking about N$30m to complete the second phase of its Veterinary Academic Hospital, including a surgical theatre and auditorium, after securing N$98m so far (including N$38m from the African Development Bank and N$60m from government). Lab Compliance Pressure on Farms: Justice and labour minister Wise Immanuel says some communal farmers are struggling to meet the national minimum wage (currently N$14/hour, rising to N$18/hour in Jan 2027), with gaps flagged around contracts, payslips, Social Security registration, and benefits. Mining Labour Tensions: Small-scale miners in Kunene complain of conflicts with licensed companies and poor working conditions, while Namibia’s mining sector also faces broader scrutiny over conditions. Marine Phosphate Legal Fight: Namibia Marine Phosphate’s Sandpiper project got an ECC, but opposition and fishing bodies are already challenging it—raising concerns about fairness, monitoring and whether key information was properly handled. Housing Supply Bottleneck: FNB data points to continued weakness in serviced plot sales, blaming delays in land servicing and limited serviced land delivery for slowing housing market recovery. Trade Talks with India/SACU: India and SACU (including Namibia) are moving toward a preferential trade agreement, with talks targeted to start soon and conclude within a year. Corporate/Capital Moves: Wia Gold secured commitments for an A$125m placement to advance its Kokoseb project to first gold, subject to shareholder approval. Transport & Logistics: TransNamib and MSC launched a rail container cargo soft start between Windhoek and Walvis Bay, aiming to grow intermodal volumes. Football Funding: The Namibia Football Association says it covered about N$9m from its own funds to finish the 2025/26 Premier League after earlier government funding ran out.

Land Reform Debate: A new op-ed argues Namibia can’t rely on “willing-seller, willing-buyer” to fix colonial land dispossession, calling for a state-backed path to restitution. Oil & Gas on the Ground: Commentary says Namibia’s “oil story” is already shifting on land through ports, logistics, recruitment and partnerships—signs of a development “window” beyond headlines. Finance & Markets: Absa wins approval for a secondary listing of its NewWave Silver ETN on the NSX, giving Namibians listed silver exposure. Trade & Investment: India and Namibia agree to deepen cooperation on value addition, critical minerals, services and working groups, with talks also involving SACU. Connectivity: Africa Online and Radio Electronic sign an LOI to explore OneWeb satellite connectivity for rural Namibia. Competition Watch: The Competition Commission finds no price-fixing in horse mackerel, while it also moves to investigate unfair pricing in fishing. Public Assets: Works ministry says mismanaged government flats are being turned into “kambashus,” pushing for tighter oversight via PAMA. Energy & Infrastructure: NamPower re-advertises its MD post after limited applications; Windhoek outlines N$1.9bn water upgrades; TransNamib reports 210km of rail upgrades. Jobs Pressure: IMF warns growth is too weak to cut unemployment and poverty meaningfully.