AGP Executive Report

FATF Exit Boost: Namibia has been removed from the Financial Action Task Force (FATF) grey list after completing all 13 remediation items, with Finance Minister Erica Shafudah saying the reforms included amending laws and strengthening the anti-money laundering and counter-terrorism financing framework—an important signal for investor confidence. Anti-Corruption Leadership: Parliament is set to consider the nomination of Financial Intelligence Centre director Bryan Eiseb to become the next Director-General of the Anti-Corruption Commission, succeeding Paulus Noa as his term ends. Climate Finance Push: The Development Bank of Namibia secured a USD 1 million Green Climate Fund readiness grant to build capacity and help prepare bankable climate projects, aiming to catalyse private sector investment. Labour & Cost Pressure: Furnmart workers in Katima Mulilo joined a nationwide strike after rejecting a 5% pay offer, demanding 8% plus added benefits amid rising transport and food costs. Energy Transition & Marine Protection: Namibia targets expanding marine protection from about 1.7% to 11–12% by 2030, while also pushing broader green transition financing and policy. Digital Growth: CRAN reports mobile internet usage up 6% in Q1 2026, driven by social media, alongside fibre-led fixed broadband growth. Business Links: Namibia’s NIPDB invites firms to join a self-funded South Africa business mission (17–18 July) focused on sectors like energy, mining, agriculture and financial services.

FATF Grey List Exit: Namibia has been removed from the Financial Action Task Force’s grey list after completing reforms to fix 13 anti-money laundering and counter-terror financing deficiencies, a move Finance Minister Erica Shafudah says strengthens the financial system and investor confidence. Anti-Corruption Leadership: President Netumbo Nandi-Ndaitwah has nominated Bryan Eiseb, currently director of the Financial Intelligence Centre, to lead the Anti-Corruption Commission, with parliamentary approval expected. Energy & Infrastructure: NamPower inaugurated the N$394m Sekelduin digital substation, while also outlining major transmission upgrades under its Transmission Master Plan, including the N$2bn Auas–Kokerboom 400kV line. Telecom Regulation: CRAN has dismissed all Starlink reconsideration requests, upholding the licence rejection over ownership and control requirements. Water & Climate Impacts: Southern rivers are responding to recent rainfall and dam releases, with the Fish River rising after Naute and Neckartal releases. Skills & Youth: NamRA and the National Youth Service signed an MoU to boost disciplined, job-ready skills for sectors like oil and gas, trade facilitation and border security. Agribusiness: A new potato harvest at Sikondo (Kavango West) marks progress under NAB’s potato scheme, but highlights ongoing market and equipment constraints. Regional Trade Integration: SADC legislators completed UNCTAD-backed training to better tackle AfCFTA implementation and non-tariff barriers. Sports Media Trend: Spotify data shows football podcast listening surging across sub-Saharan Africa, with Namibia among fast-growing markets. Property Investment: GIPF committed N$800m to an Oryx Property vehicle targeting retail and mall-type developments nationwide.

Starlink Setback: Namibia’s regulator has upheld its rejection of Starlink’s licence bid, dismissing 624 reconsideration requests and citing ownership/control and security compliance gaps. Critical Minerals Push: Orion Critical Mineral Consortium is in advanced talks to add three Asia public-private partnerships to fund a $20bn critical minerals pipeline. Tourism Service Upgrade: About 47 police, immigration and NamRA officials received customer-care training to improve the first impression for visitors at borders. Finance & Governance: Parliament probes lending practices as debt deepens, with lawmakers concerned salary deductions can leave borrowers with very low net pay. Youth Council Crisis: The NYC elective congress in Swakopmund turned violent, injuring delegates and forcing postponement, with critics calling for reform. Transport & Infrastructure: Oshana governor urges an Oshakati–Ondangwa dual carriageway to ease congestion and support northern economic growth. Regional Ties: Namibia and Tanzania signed MoUs on trade, agriculture, defence and SMEs after a state visit. Markets: NSX Overall Index slipped 1.02% for the week ended 19 June, dragged by basic materials. Local Economy: Famous Brands reported 7.3% system-wide sales growth in Namibia in 2026. Water Watch: Erongo governor says a second desalination plant is key to easing water instability. Road Safety Debate: Protesters oppose new speed humps on Windhoek’s Western Bypass, arguing they worsen congestion. Scam Alert: A pensioner lost N$27,030 in a phone scam at Henties Bay.

Airport Vehicle Scheme Probe: Namibia Airports Company (NAC) is under a works and transport investigation after 19 executives benefited from a controversial vehicle ownership arrangement. Labour Action: Furnmart and Home Corporation staff have launched a nationwide strike over an 8% salary adjustment, plus transport and housing allowance demands. Bilateral Trade Push: President Netumbo Nandi-Ndaitwah returned from Tanzania after MoUs on defence, trade, agriculture and SME cooperation, with a renewed focus on economic partnerships. Telecom Regulation: CRAN rejected Starlink’s bid to reconsider its licence denial, citing non-compliance with Namibia’s ownership and control rules. Rail Sector Rules: The works ministry says opening rail to new operators needs stronger laws, oversight capacity and a proposed rail fund. Pensions & Real Estate: The Tunga Real Estate Fund distributed about N$21.6m to GIPF, lifting total payouts to roughly N$266m. Cybersecurity Watch: FortiBleed may have exposed credentials at 13 organisations; CRAN urges resets, MFA and Fortinet upgrades. Water & Safety: NamWater releases from Naute and Neckartal dams have raised Fish River levels; the Fish River hiking trail is temporarily closed. Road Safety Protest: Activist Michael Amushelelo and motorists protest Windhoek speed humps, arguing pedestrian safety shouldn’t be at motorists’ cost. Mining & Deals: Kazera Global and Hebei Xinjian agreed a US$10.5m settlement tied to the Aftan tantalum/lithium dispute.

FATF Exit: Namibia has been removed from the Financial Action Task Force (FATF) grey list after reforms to close money-laundering and terrorism-financing gaps, a move expected to cut compliance friction and boost investor confidence. Cybersecurity Alert: CRAN’s NAM-CSIRT warned Namibian firms about a global Fortinet FortiGate “FortiBleed” incident that exposed administrator and VPN credentials, urging urgent remediation. Trade & Food Security: Zambia lifted its maize export ban, reopening imports for Namibian buyers via ZAMACE, potentially easing regional grain supply pressures. Regional Economic Push: President Netumbo Nandi-Ndaitwah used a state visit to Tanzania to drive “economic liberation,” calling for deeper trade, investment and industrialisation as four cooperation agreements were signed. Labour Relations: Justice and Labour minister Fillemon Wise Immanuel told the Mineworkers Union of Namibia that advancing workers’ rights needs partnership, not confrontation, to strengthen industrial relations. Road Safety Fight: A petition with 16,560 signatures demands pedestrian bridges instead of speed humps on the B1 highway, with a class-action lawsuit threatened. Food Safety Win: Meatco secured a Woolworths Blue Rating in a food safety audit, supporting access to premium retail markets. Mining/Exploration: Askari Metals outlined seven new pegmatite targets at its Uis project, with RC drilling expected next month. Business Security & Crime: NCCI and Namibian Police moved to formalise cooperation to reduce crime and improve the investment climate.

FATF Exit: Namibia has been removed from the Financial Action Task Force (FATF) grey list after reforms to close anti-money laundering and counter-terrorism financing gaps, a move expected to cut compliance friction and boost investor confidence. Monetary Policy: The Bank of Namibia lifted the repo rate to 6.75% to protect the Namibia dollar–rand peg amid weak domestic activity and external shocks. Regional Trade Push: President Netumbo Nandi-Ndaitwah and Tanzania’s Samia Suluhu Hassan signed four co-operation agreements covering trade, MSMEs, defence and local government links, with both leaders urging deeper intra-African trade and industrialisation. Skills for Energy: Namibia’s green hydrogen future gets a TVET focus, with calls to train artisans and vocational workers for oil and gas and hydrogen operations. Debt and Lending Scrutiny: Parliament’s economy committee held a public hearing on whether lending practices and salary deduction systems are driving household over-indebtedness, especially among civil servants. Road Safety & Urban Strain: Windhoek’s growth pressures and road risks remain in focus, alongside renewed debate over speed humps and rising accident concerns. Energy Transition Context: A global index update shows Namibia improving readiness for the energy transition, even as worldwide progress stalls.

FATF Exit Boost: Namibia has been removed from the Financial Action Task Force “grey list” after addressing deficiencies flagged in 2024, a move expected to ease scrutiny on cross-border finance and improve investor confidence. Monetary Policy: The Bank of Namibia lifted the repo rate to 6.75% to protect the Namibia dollar peg amid external shocks, while warning that global uncertainty could disrupt NDP 6 plans. Housing vs Lending Rules: A sharp critique says Namibia’s one-size affordability benchmark treats homes and cars the same, potentially blocking homeownership while still burdening households with vehicle costs. Energy Skills Push: Stakeholders and officials are urging faster TVET and training alignment for oil, gas and green hydrogen, arguing artisans—not just engineers—will be key to keeping projects running. Regional Trade Deal: President Nandi-Ndaitwah and Tanzania’s Samia Hassan signed agreements to deepen cooperation in trade, mining, agriculture, defence and MSMEs, with ports and logistics highlighted as growth levers. Local Governance Pressure: In Platfontein, voters are using registration weekend to demand inclusive representation and solutions to deep poverty and unemployment ahead of the 2026 local elections. Responsible Gambling Focus: A Windhoek conference highlighted how online betting is widening access and raising concerns about gambling addiction, with possible policy follow-ups discussed. Digital Payments: Bank of Namibia partners launched WayaMe to expand access for small traders and farmers, with fraud protection and adoption seen as the real test. Petroleum Leadership Questions: The energy ministry declined to explain the removal of petroleum commissioner Maggy Shino, replacing her with Aune Amutenya, drawing calls for more transparency. Debt Exploitation Hearing: Parliament’s economy committee held a public hearing on whether lending practices and salary deductions are trapping households—especially civil servants—in over-indebtedness. Mining Trust Under Scrutiny: Mineworkers’ union dues have built a large Namibian investment empire, but members allege weak transparency and limited personal benefit.

Debt & Lending Oversight: Namibia’s National Assembly committee held a public hearing on whether current laws protect households from exploitation by lenders and informal money lenders, with focus on civil servants’ over-indebtedness, salary deduction impacts, and whether lenders with direct salary access should charge lower interest. Youth Skills for New Energy: Hardap Governor Riaan McNab inaugurated Youth for Green Hydrogen scholarships worth N$25m for 93 students, as Namibia pushes workforce readiness for green hydrogen and the wider energy transition. Road Safety Clash: Social justice activist Michael Amushelelo mobilised Windhoek-area motorists over B1 speed humps, citing accidents and calling for alternative measures. FATF Exit, Transparency Push: Namibia was removed from the FATF grey list after reforms; opposition IPC/Patriots for Change now demands public beneficial ownership access, warning the “win” could be undermined if registers remain effectively closed. Water Scarcity Response: Namibia Breweries cut water use to 3.5 litres per litre of beer in 2025 and invested N$35m since 2015 to strengthen water security. Regional Trade & Industry: President Netumbo Nandi-Ndaitwah urged Africa to prioritise local production and value-added trade, speaking during the Tanzania–Namibia business forum in Dar es Salaam. Local Content in Infrastructure: RCC foreign-partnerships face renewed scrutiny as calls grow for stronger local value retention and forensic review of past deals. Mining & Finance Signals: De Beers CEO says its sale could close in “weeks rather than months,” while Namibia’s repo rate was raised to 6.75% amid inflation risks.

FATF Update: Namibia has been removed from the Financial Action Task Force’s “grey list” after addressing money-laundering and terrorism-financing deficiencies, a move expected to lift investor confidence and reduce external scrutiny. Digital Identity Debate: Home Affairs Minister Lucia Iipumbu rejected claims that Namibia’s e-ID system is meant for “microchip tracking,” saying the cards support secure identity verification and digital transformation. Tax & Compliance: NamRA extended the 30 June tax filing deadline to 31 August as ITAS disruptions are gradually resolved, while government also tabled legislation to create an independent Tax Court to strengthen tax dispute resolution. Monetary Policy: The Bank of Namibia raised the repo rate to 6.75% amid inflation risks linked to the Middle East conflict and to manage interest-rate gaps with South Africa. Water & Industry: Namibia Breweries cut water use to 3.5 litres per litre of beer in 2025 and says it invested N$35m since 2015 to improve water security. Mining & Energy: De Beers CEO says its diamond sale could be completed within weeks; Kaoko Metals will start maiden Chalkos drilling within six weeks; and Namibia is being positioned as a key player in global energy supply chains through uranium projects. Local Economy & Jobs: Etosha Fishing received a horse mackerel quota allocation after months of worker disruption. Connectivity: Telecom Namibia expanded subsea and satellite connectivity with Angola through new agreements. Governance Watch: An Omaruru acting CEO is suspected of “cooking the books” amid a financial probe, while Works and Transport Minister Veikko Nekundi dismissed calls for a forensic audit of tenders to foreign nationals. Reparations Diplomacy: Namibia’s leadership continued pushing reparatory justice at a Ghana conference, including calls for truth, acknowledgement and concrete action.

Mobile Services & Transport: Namibia’s NaTIS on Wheels truck was launched in Omatjete, offering eye tests, biometric capture, learner licence testing and vehicle licence renewals at a reported cost of N$4.2m—far cheaper than a permanent centre—with the truck set to move next to Okombahe, Fransfontein and Kamanjab. Telecom & Connectivity: Telecom Namibia expanded subsea and satellite connectivity with Angola through agreements linking SARSSy to the Equiano cable via its Swakopmund landing station, boosting international capacity for Namibia and the west coast. Financial Integrity: Namibia was removed from the FATF Grey List after meeting anti-money laundering and counter-terrorism financing requirements, a move expected to cut scrutiny and lift investor confidence. Digital Payments & Tax Administration: Bank Windhoek processed live government grant payments on Namibia’s instant payment network, while NamRA extended the ITAS tax filing deadline to end August after technical issues. Road Safety: Namibia Breweries and partners launched a N$200,000 drink-driving assessment and enforcement campaign from July to January, with breathalyser testing at nine checkpoints. Labour & Retail: Furnmart employees will strike nationwide over salary increments and a housing allowance dispute. Energy & Jobs: Namibia and Germany’s green hydrogen push projects up to 37,000 jobs, but warns of a looming skills gap. Petroleum Governance: PM Elijah Ngurare defended the Petroleum (Exploration and Production) Amendment Bill, arguing reforms protect the national interest as MPs debate worker protections. Reparations Diplomacy: Namibia’s leaders joined Ghana’s Next Steps conference on reparatory justice, including plans for global panels on reparations, cultural restitution and legal pathways.

Labour & Retail: Manwu says Furnmart & Home Corp Namibia workers will begin a salary-increment and housing-allowance strike on Monday after failed wage talks, demanding 8% pay, N$500 housing allowance and extra benefits. Tax Administration: NamRA extends the tax filing deadline from 30 June to 31 August as ITAS recovery continues, while government also tables a bill to create an independent Tax Court to strengthen fair tax dispute resolution. Road Safety & Industry: Namibia Breweries launches a N$200,000 drink-driving assessment and enforcement programme with checkpoints and breathalyser testing from July 2026 to January 2027. Oil & Gas Policy: Namibia appoints Aune Amutenya as acting petroleum commissioner as the sector moves toward key development decisions. Marine Conservation: Namibia targets expanding marine protected areas to 11–12% by 2030 with UNEP support, building on current coverage of about 1.7%. Business & Investment Climate: A legal briefing highlights how Namibia wants oil, gas and mining to drive industrialisation and beneficiation under NDP6, alongside regulatory reform to attract FDI. Regional Trade Logistics: Walvis Bay Corridor Group urges operators to fully use pre-clearance to cut border congestion and demurrage costs. Corporate Governance: NAC says executives bought company vehicles for N$5,000 each under a cost-to-company remuneration transition scheme. Social Risks: Child marriage remains a barrier to girls’ education and jobs, while Omaheke’s hunger crisis underscores Namibia’s “wealth paradox.”

Accounting & Auditing Overhaul: Finance Minister Erica Shafudah tabled the Accountants and Auditors Regulatory Authority Bill to replace the 1951 framework, creating a new regulator to strengthen oversight, transparency and modern audit standards. Tax Justice Reform: Government also moved to establish an independent Tax Court within the High Court structure, aiming to fix past conflicts and restore taxpayer confidence. Monetary Policy Impact: Namibia’s repo rate was raised to 6.75%, pushing prime lending to 10.25% and likely increasing costs on home loans and vehicle finance. Instant Payments for Grants: Bank Windhoek processed the first live government grant payments via Namibia’s instant payment network, enabling near real-time payouts and expanding financial inclusion. Petroleum Leadership: Aune Amutenya was appointed acting petroleum commissioner as Namibia shifts from exploration to key project decisions. Marine Protection Push: Namibia plans to expand marine protected areas with UNEP support, targeting 11–12% protection by 2030. Trade & Diplomacy: Namibia and Ghana launched a “Cultural Night” to deepen trade, tourism and investment links. Local Business & Transport: Walvis Bay informal traders face eviction from the CBD, while Windhoek expanded cashless bus top-ups through Standard Bank’s PayPulse. Mining & Natural Resources: Parliament heard a motion challenging Namibia’s fishing quota allocation system amid calls for transparency and fair access.

Monetary Policy: Namibia’s central bank raised the repo rate by 25 bps to 6.75% and lifted its 2026 inflation forecast to 4.0%, citing higher oil-driven inflation risks and weak credit growth. Financial Regulation: The Financial Institutions and Markets Act (FIMA) now blocks employers from recovering theft or misconduct losses from employees’ pension benefits, tightening retirement-savings protection. Audit Reform: Government tabled a bill that would compel auditors to report fraud, theft and serious financial misconduct. Local Finance & Trade: FNB Namibia met the Bank of Namibia to align on evidence-based policy and regional trade enablement. Energy & Industry: The Namibia Oil and Gas Conference (18–20 Aug 2026) returns with a stronger local-content and entrepreneurship push. Mining Watch: Kaoko Metals fast-tracked maiden drilling at its Chalkos copper-silver project, targeting a start in about six weeks after a site visit. Governance & Cities: Windhoek launched a People-Centred Smart City Strategy, drawing mixed reactions over readiness amid service delivery gaps. Business & Society: A responsible gambling summit in Windhoek aims to treat gambling harm as a public health issue, with a task force expected.

Monetary Policy: Namibia’s central bank lifted the repo rate by 25 bps to 6.75% and revised its inflation outlook higher, citing stronger inflation pressures from higher oil prices; inflation quickened to 4.1% in May and the forecast now averages 4.0% in 2026. Financial Regulation: The Financial Institutions and Markets Act (FIMA) strengthens pension protection by blocking employers from recovering theft, fraud or misconduct losses from employees’ pension benefits, shifting the balance away from retirement-savings deductions. Public Finance & Governance: Government tabled amendments to create an independent tax court to hear income tax and VAT appeals, after a High Court ruling found parts of the previous special tax court unconstitutional. Energy & Competition: Namcor defended its role in a government fuel procurement arrangement that gives Vitol a three-month bulk fuel monopoly, despite earlier competition concerns. Oil & Gas Local Benefits: Namibia’s Oil and Gas Conference returns to Windhoek in August with a “From Decision to Dividend” theme, pushing local participation, youth skills and local content pitching ahead of key investment decisions. Smart City Debate: Windhoek launched its 10-year People-Centred Smart City strategy, drawing mixed reactions as residents question readiness amid ongoing service delivery gaps. Health Sector Pressure: Gobabis nurses say overtime payments have been delayed for months, with claims awaiting treasury approval. SME Support: A new SME fund opens for applications, offering grants of N$50,000–N$100,000 to help small businesses grow and create jobs.

Payments Modernisation: Instant Payments Namibia unveiled WayaMe, the consumer-facing brand for its instant payment solution, aiming to boost adoption of a more inclusive, interoperable digital payments ecosystem. Energy Infrastructure: NamPower will officially inaugurate the N$394m Sekelduin Substation near Swakopmund on 22 June, billed as Africa’s first fully digital electricity substation to strengthen coastal grid reliability. Mining Outlook: Namibia’s mining sector remains cautiously optimistic on strong uranium and gold prices, but rising fuel costs are pressuring operating expenses and transport. Capital Raising: Ongwe Minerals increased its fundraising to up to ~N$238m to fund exploration at its Namibian gold projects, with closing expected around 25 June. Urban Digital Push: Windhoek launched its People-Centred Smart City Strategy 2026–2036, including plans to commercialise municipal fibre, modernise transport, and pursue a commuter rail link. Governance & State Firms: Scrutiny grows around Namcor’s fuel supply arrangement with Vitol amid a prolonged leadership vacuum, as questions resurface about confidence and decision-making capacity. Local Business Readiness: The Economic Association of Namibia will measure how ready Namibian businesses are for oil and gas work ahead of the 2026 Oil and Gas Conference. Consumer Protection: Namfisa helped recover over N$1.7m for consumers in the first quarter of 2026 after interventions over insurance, pension and micro-lending complaints. Trade Signals: Vehicle sales fell 11.3% in May but are up 14.8% year-on-year, while beverage imports stayed far above exports, underscoring import dependence.

World Bank Outlook: Sub-Saharan Africa’s growth forecast for 2026 is cut to 4.0% as energy shocks, weaker demand and tight fiscal space bite, with a modest recovery expected later. Diplomacy & Reparations: President Nandi-Ndaitwah heads to Ghana for a reparatory justice conference and then to Tanzania, as Namibia prepares to feed its genocide and colonial redress experience into global talks. Energy & Industry: The Namibia Oil and Gas Conference expands its programme for inclusive growth and local participation, while Namcor backs a short-term Vitol fuel supply arrangement amid public scrutiny. Consumer & Finance: Namfisa says it recovered over N$1.7m for consumers in Q1 2026, and NamPost completed its first instant payment transaction to enable G2P rollouts. Telecom Connectivity: MTC becomes a Huawei enterprise partner, and Telecom Namibia and Angola’s GGPEN move from pilot to a structured trial for Angosat-2 satellite services. Mining Costs: Rising fuel prices are pressuring Namibia’s mining sector, with transport inflation contributing to higher overall inflation. Uranium Deal: Canadian firm Vatic Ventures gets approval to acquire uranium prospecting rights in Erongo. Governance & Justice: Namibia monitors SA xenophobic tensions closely after a bus hijacking, and an acid-attack case continues in court over alleged vehicle and acid procurement links. Tourism Economy: Cape Town’s 2025 tourism spend hit R24.5bn, driven by foreign visitors even as domestic spend softened.