AGP Executive Report

Mining & Capital Raising: Sultan Resources secured firm commitments for a $1.316m share placement to fund early Kaalkop copper-gold exploration in Namibia and expand its wider portfolio, with fieldwork tied to licence approval. Industrialisation & Energy: President Nandi-Ndaitwah told a U.S. business roundtable Namibia is seeking investment for value addition and an energy mix spanning oil and gas, green hydrogen and renewables. Anti-Corruption Watch: The Anti-Corruption Commission summoned Namibia Airports Company CEO Bisey /Uirab over alleged corrupt practices, including a tender for Hosea Kutako’s fire-fighting facility and internal audit appointments. Labour & Social Protection: Revised worker benefits take effect 1 October, lifting maternity, sick leave, death and disability benefits under the Maternity, Sick Leave and Death Fund. Local Content in Infrastructure: Namibia’s railway upgrade will reserve at least 10% of contract value for Namibian-registered firms. Green Hydrogen Push: AfDB selected Hyphen Hydrogen Energy for a prospective $5.93m grant to support Namibia’s green hydrogen project toward final investment decision. Business & Markets: Namibia’s telecoms revenue rose 12% to N$1.9bn in Q2 on data growth, while broadcasting revenue fell 6% as advertising dropped sharply. Governance & Risk: Namibia’s NHP reassured members benefits and contributions remain unchanged ahead of FIMA implementation. Youth & Skills: Namibia is training youth for green hydrogen and oil and gas opportunities, while concerns persist about weak internship standards and uneven NYDF funding uptake. Gold Reserves: Navachab delivered just over 300kg of gold to the Bank of Namibia, targeting about 600kg by year-end.

NIPAM Funding Pressure: NIPAM executive Dr Heroldt Murangi says ministries and entities are sending staff for training but refusing to pay outstanding bills, warning that without payment NIPAM can’t review or expand programmes. Aviation Governance Clash: Namibia Airports Company has suspended all procurement amid a legal dispute over board removals, following allegations around vehicle transfers and governance irregularities; NAC CEO Bisey /Uirab also appeared before the Anti-Corruption Commission. Fuel Supply Deal: TotalEnergies/Totsa will supply all Namibia’s petroleum and diesel for Nov 2026–Jan 2027, with discounts expected to save government about N$220.5m. Cybersecurity Alarm: NAM-CSIRT confirms the Namibian Defence Force was hit by RansomHouse ransomware, urging stronger incident response and reporting across government and critical sectors. Competitiveness Push: NIPDB and FirstRand Namibia hosted a CEOs’ roundtable after Namibia fell to 69th/70 in the IMD competitiveness ranking. Transport Safety: A National Council report highlights a worsening road-crash crisis, with 2026 already showing far higher crash and fatal-crash figures than 2024–2025. Fintech Regulation: NAMFISA will run a FinTech Square in October, including a Pitch Arena and a regulatory sandbox cohort. Energy & Water Focus: President Nandi-Ndaitwah says Namibia’s clean transition must deliver jobs and access, while water investment is positioned as central to economic development.

Sardine shock: Namibia’s DFFE says the precautionary sardine mortality measure stays in force until 2 October, with right holders limited to 25% of 2026 directed TAC as officials investigate a sharp rise in deaths since July. Diamond deal watch: Botswana nears the end of its review of Anglo American’s proposed sale of its 85% De Beers stake, with due diligence expected by end-September and a possible Q4 2026 decision. Energy transition with jobs: President Nandi-Ndaitwah tells the UN that Namibia’s clean energy push must deliver jobs, wider electricity access and industrial development—not just emissions cuts. Electricity access gap: World Bank data shows Southern Africa’s power shortfalls remain stark, from Malawi’s 15.6% access to South Africa’s 90%+. Local mining benefits: The energy ministry urges Etango uranium to expand procurement and community projects while addressing environmental concerns. Trade signal: Malaysia reports exports up 31.2% y/y (Jan–Aug 2026), with Namibia up 430.6%—a notable boost for Namibia’s import-export links. Procurement pause: Namibia Airports Company suspends all new and ongoing procurement activities pending further notice. SME project finance: FNB Namibia and Arch Resources sign an MoU to improve construction/infrastructure SME access to project finance and technical support. Markets: NSX logs N$512.1m in weekly trades (14–18 Sept), with financial stocks leading activity. Water pressure in Usakos: NamWater plans phased reductions and a full suspension of supply from 21 Sept to 9 Oct over unpaid accounts with the Usakos Town Council.

Namibia Energy & Power: Solarcentury Africa’s 19.3MW Gerus solar plant in Kunene is now in commercial operation, feeding the Southern African Power Pool and expected to supply power for 14,000+ homes, a major step for Namibia’s grid-linked clean energy. Mining & Exploration: Kaoko Metals has mobilised a second diamond rig at its Chalkos copper-silver project, with drilling underway at the Donkey Hill prospect alongside work at Otniel, as the company accelerates exploration after a capital raise. Local Economy & Costs: Namibia’s inflation pressure is still biting, with August CPI showing the highest rise since Feb 2024 and transport costs driving the jump; the NSA also flags that many working Namibians are borrowing to cover essentials. Cybersecurity: RansomHouse claims it has hacked the Namibian Defence Force and threatens leaks, adding urgency to Namibia’s push to strengthen cybercrime and data protection laws. Governance & Public Services: Namibia re-launched its National Clean-up Campaign, with youth, the NDF and Windhoek officials joining residents to tackle illegal dumping and riverbed pollution. Green Hydrogen: The AfDB selected Hyphen Hydrogen Energy’s Namibia proposal for repayable support under its green hydrogen programme, alongside projects in Egypt, Morocco and South Africa. Regional Business Watch: Botswana is being eyed as a potential alternative location for a proposed US$300m film studio after Namibia’s municipality rejected criticism over delays. Global Trade & Risk: Chevron plans to ramp up oil and gas exploration in Egypt, while Zimbabwe opens a safeguard probe into pasta imports as domestic producers face mounting pressure.

National Clean-up Campaign: Namibia has re-launched its National Clean-up Campaign, with Prime Minister Elijah Ngurare joining NYS, the NDF and City of Windhoek teams to clear illegal dumping and riverbeds, while officials linked waste mismanagement to disease risk and pressure on municipalities. Tourism Jobs: The environment ministry says tourism has created over 57,000 jobs in five years (about 7.5% of employment), including 14,000 youth roles, alongside SME and youth skills support and plans for a tourism transformation fund. Cybersecurity: Namibia is investigating a ransomware-linked hack of the Namibian Defence Force after RansomHouse threatened to leak data; Nam-CSIRT confirmed unauthorised activity and is supporting recovery. Cost of Living: Inflation hit a two-year peak as price increases were driven largely by transport costs and fuel, with the NSA noting many working Namibians borrow to cover basics. Fuel Deal Fallout: RCC has paid N$30m for undelivered fuel tied to Victor Malima, raising questions over procurement controls. Climate Risk: Namibia has been warned to prepare for an El Niño-affected 2026/27 rainy season with below-normal rainfall and hotter conditions. Green Hydrogen: AfDB selected Namibia’s Hyphen Hydrogen Energy for green hydrogen support as part of $20m repayable funding for four projects. Finance Update: Capricorn’s non-interest income surged to N$2.62bn, lifting diversification as net interest income fell. Local Markets: NSX shares edged up slightly, with Capricorn among the top performers.

Social Services Staffing: Namibia’s Gender ministry says only 23 of 55 targeted social worker posts were filled in 2025/26, despite over N$19m allocated, with rural placements and a limited talent pool of qualified graduates cited as key hurdles. Cybersecurity: Nam-CSIRT confirmed a ransomware-linked hack of the Ministry of Defence and Veterans Affairs after alleged NDF files appeared online; Namibia is also investigating a separate reported NDF cyberattack. Market & Finance: NSX shares edged up slightly, with the Local Index gaining 0.02% and Bank Windhoek highlighting over N$21m in community investment. Agriculture & Food Security: Government says Namibia still imports large shares of maize, wheat, millet, fruit and vegetables, underscoring both vulnerability and a domestic market opportunity. Public Procurement & Policy: Bank of Namibia invites investors to a GC27 switch auction for N$3.6bn, while sport officials warn Namibia spends under 1% on sport development. Business & Tourism: Oryx Properties returned to profit (N$227.7m) and Gondwana’s new Walvis Bay hotel, The Admiral, is set for a December 2027 opening. Consumer Protection: NAMPOL warns motorists about a phishing SMS/WhatsApp link tied to the traffic fines amnesty.

Cybersecurity & Defence: Namibia is investigating a reported cyberattack on the Namibian Defence Force after files allegedly linked to the military appeared online, with the national cyber team saying activity matches the ransomware group RansomHouse and is working with the ministry to restore systems. ICT & Data Revenue: CRAN reports telecoms generated N$6.7bn from data sales in 27 months, with the latest quarter (Apr–Jun 2026) bringing N$944m; social media drives demand, while cyber threats are rising even as ICT investment hits about N$243m. Public Finance: The Bank of Namibia invites investors to a GC27 switch auction on 23 September, after government borrowed N$3.6bn via the note and is seeking to roll more debt into longer-term instruments. Food Security: Namibia’s agriculture ministry says the country still imports most key foods—about 64% of maize, 87% of wheat and 64% of pearl millet—highlighting both vulnerability and a local production opportunity. Markets: NSX shares edged up slightly, with the Local Index gaining 0.02% and Capricorn Group among the biggest annual gainers. Tourism & Property: Gondwana’s The Admiral hotel is under construction for a December 2027 opening in Walvis Bay, while Oryx Properties swung back to profit with N$227.7m after tax.

Copper Shift: A Betashares report says copper now makes up a bigger share of earnings for Australia’s listed miners than iron ore, reflecting stronger copper prices tied to electrification, power grids and AI-linked demand. Telecom Cashflow: Namibia’s telecoms raked in N$6.7bn from data sales over 27 months, with TikTok, Facebook and WhatsApp driving usage; in Q2 alone data revenue hit N$944m and sector revenue grew 12%. Cyber Risk Rising: Despite ICT growth, cyber threat events jumped 57% in Q2, with vulnerabilities up 40%, pushing regulators to warn that connectivity gains must come with stronger security. Public Finance Move: The Bank of Namibia invites investors to a GC27 switch auction on 23 September, aiming to roll over N$3.6bn of government debt. Sport Funding Gap: Namibia spends less than 1% of public expenditure on sport; government targets sport’s employment contribution at 3.5% under NDP6. Port Concessions Scrutiny: IPC questions Namport’s 25-year Walvis Bay container terminal concession, demanding details on fees, cargo volumes and job protections. Agriculture Investment Push: Namibia’s agriculture conference (19–20 Oct) targets N$1bn–N$10bn in annual private investment to cut import dependence. Cuba Solidarity: A Windhoek gala raised about N$2.6m for Cuba, with an additional “mysterious donor” pledge of N$17m announced. Mining Watch: Koryx Copper starts a maiden 2,500m diamond drill programme at Luanshya West in Zambia and plans further sampling at Mpongwe.

ICT & Cybersecurity: Namibia’s ICT sector saw N$243m invested in Q2 2026 for network expansion, with sector revenue up 12% and employment up 3% to about 2,210 staff, but cyber threat events jumped 57% and vulnerabilities rose 40%, showing growth is coming with rising digital risk. Banking Results: Capricorn Group profit after tax fell 6.4% to N$1.87bn as funding costs, macro pressure and higher credit impairments weighed on earnings, even as deposits and capital ratios improved. Port Concessions Scrutiny: Opposition MP Nelson Kalangula wants answers on Namport’s long-term port concessions, including the 25-year Walvis Bay container terminal deal, job protections, local-content rules and how concession fees affect Namport’s finances. Food Security Gap: Namibia still imports most staple crops and most fruit, with 64% of maize and 87% of wheat requirements coming from outside, while horticulture is even more import-dependent—yet officials say the gap is also a local investment opportunity. HIV Funding Transition: Namibia’s HIV response will remain stable as the US phases out direct funding, but experts warn sustainability depends on more than ARVs—testing, counselling and wider health-system support must be maintained. Sports Economy Push: Government targets sport’s employment contribution at 3.5% under NDP6 and is urging a faster review of the Sport Act to professionalise the sector and unlock careers. Governance & Procurement: CPBN and NaCC signed an MoU to tackle collusion and anti-competitive practices in public tenders, while RCC says it has launched an internal probe into fuel-supply transactions raised in media. Mining & Exploration: Sultan Resources applied for the Kaalkop copper-gold exploration licence in Namibia’s Central Damara Belt, and Koryx Copper agreed to expand its Zambian ownership to 80% as it advances exploration programs. Regional Capital Markets: SADC is pushing exchange interconnectivity to enable more cross-border trading and broader investor access across the region’s stock markets.

ICC Leadership: Zimbabwe Cricket chief Tavengwa Mukuhlani was appointed ICC Deputy Chairperson until November 2027, becoming the first Zimbabwean in the role as Africa prepares to co-host the 2027 ODI World Cup with South Africa and Namibia. Public Procurement Reform: Namibia’s Finance Minister says all public entities must reserve a set share of procurement plans for SMEs, with categories of businesses earmarked for local participation. SME Migration & Civil Society: SAMIN launched its Namibian chapter to push better treatment and dialogue around refugees and migrants, aiming to reduce fragmented approaches. Vehicle Market Watch: Namibia’s new vehicle sales hit the highest level for the first eight months since 2015, with commercial vehicles driving demand even as transport costs rise. Hospitality Deal: Banyan Group agreed a phased majority acquisition of Newmark Hotels & Reserves, adding 26 properties across seven African countries while keeping Newmark’s brand and local operations. Food & Schools: A northern farmer urges government to split school catering tenders so local producers can supply fresh food and build reliable income streams. Gender Gap Commentary: India held its 131/145 rank in the WEF Global Gender Gap Index 2026, with persistent gaps in women’s economic and political participation. Mining & Capital Markets: Ongwe Minerals starts drilling at its Nguni gold prospect; Bannerman issued 31m shares to raise A$124m for Namibia’s Etango uranium project; and Namibia auctioned pilchard and freezer monk fish quotas raising about N$29m. Governance & Safety: Experts warn fast-tracked GBV protection orders must include safeguards against abuse, while concerns grow over Walvis Bay airspace downgrade affecting aviation safety and weather information. Public Finance & State Firms: NASRIA handed over N$17m in dividends to government after another profitable year.

Hospitality & Tourism Deal: Banyan Group announced a phased acquisition of Newmark Hotels & Reserves, adding 26 hotels, lodges and reserves across seven African countries, including Namibia—boosting its nature/wildlife hospitality footprint. Sports Governance: Zimbabwe Cricket chair Tavengwa Mukuhlani was appointed ICC Deputy Chairperson until November 2027, a key leadership move as the 2027 Cricket World Cup returns to Africa with Namibia as co-host. Consumer & Business Support: Coca-Cola Namibia launched its “Under the Cap” promotion, targeting N$1m in cash prizes, while DBN opened applications for its 2026 Innovation Awards (energy, tourism, manufacturing, land & housing) to back job-creating solutions. Local Economy & Services: NamSpace, a new online rental marketplace, aims to simplify Windhoek-area housing searches with structured listings. Mining & Exploration: Ongwe Minerals reported multiple high-grade gold intersections at its BK2 target in the Belmont Prospect (Khorixas) and has started drilling at the newly discovered Nguni prospect. Food Prices Scrutiny: PDM MP Winnie Moongo questioned government monitoring of food pricing and competition in the retail market amid affordability concerns.

Digital Economy & Governance: Namibia has operationalised its National Public Key Infrastructure, launching DigiNam to enable secure electronic signatures and authentication for digital government services, online banking and e-commerce. Inflation Watch: Simonis Storm says Namibia’s inflation outlook has worsened after August headline inflation hit 5.0%, driven mainly by transport costs and fuel levies, with further pressure expected through 2026. Youth Finance: The NYDF received 13,809 applications, but only N$90.8m of approved funding has been disbursed so far—highlighting a delivery gap. Energy & Commodities: Core Energy expands in Namibia’s uranium space as analysts point to a potential contracting season and firmer term prices. Mining Oversight: Namibia’s mines ministry says 71 inactive licences could be cancelled, citing incomplete paperwork and understaffing backlogs. Agriculture & Climate Risk: Farmers are being urged to cut livestock numbers ahead of El Niño-linked below-normal rainfall to prevent overgrazing and protect grazing and water. Local Government Scrutiny: Windhoek faces questions over a reported N$3.3m delegation cost for Eswatini inter-municipal sports games amid wider service-delivery and funding pressures. Conservation Science: Satellite-tagged vultures from Chizarira have travelled 19,000km across southern Africa, underlining the need for cross-border wildlife protection.

Oil & Gas Governance: The LPM is pressing Namibia’s minister on delays in oil and gas investment and whether moving petroleum affairs to the Presidency is raising political risk and slowing the path to final investment decisions. Public Procurement Integrity: Namibia’s competition watchdog and the central procurement board signed an anti-collusion pact to jointly prevent restrictive practices and improve transparent, competitive tendering. Energy & Power: A UK-backed Solarcentury Africa merchant solar plant, Gerus (19.3MW), has entered commercial operations in Kunene, feeding the Southern African Power Pool and supporting Namibia’s clean power build-out. Livestock Leadership: The Livestock and Livestock Products Board appointed Vehaka M. Tjimune as CEO from 1 September to strengthen the sector’s policy and governance push. Cost of Living: Inflation climbed to 5.0% in August, with transport costs the biggest driver. SME Growth: Outapi will host an SME business enhancement exhibition on 3–4 October to help local firms find customers and partnerships. Gender & Work: The WEF warns AI is creating a “triple penalty” for women, with progress on parity still fragile and decades away. Labour Dispute: A Windhoek snack producer used armed security during a strike over a demanded wage increase.

NSX Market Pulse: Namibia Securities Exchange trading hit N$85.57m for the week ended 11 September, up sharply from the prior period, with financial stocks leading activity. Education & Jobs: Government says N$2bn has gone into free varsity education via NSFAF, but critics warn unemployment and skills mismatch remain stubborn. Public Health Support: Windhoek Central Hospital’s Paediatric ICU received N$500,000 in monitoring equipment from the Bank of Namibia and FNB, boosting care for critically ill children. Energy & Branding: Nasan Energies completed phase one of its service-station rebranding, converting 16 former Shell sites and moving to phase two. Land Reform in Oshikoto: 101 beneficiaries received 10-hectare allotment letters in Tsintsabis, as government pushes productive use of farming land. Mining Watch: Ongwe Minerals has started drilling at its newly discovered Nguni gold prospect, while Karibib lithium was sold to UK-based ACE to restart exploration. Investment Integrity: Namibia’s competition and procurement bodies signed an MoU to curb collusion and bid-rigging in public tenders. Sardine Update: No new dead-sardine reports since 3 September, but investigations continue after pilchard herpesvirus was detected.

Land Reform & Jobs: Government has regularised farming land for 101 beneficiaries in Tsintsabis, handing over allotment letters for 38 units at Farm Tsintsabis and 63 at Farm Urwald, with a clear push for productive, sustainable use. Labour & Wages: The labour ministry moved to stop construction firms from paying security workers below the national minimum wage, after a gazetted clarification showed some collective-agreement rates undercut the legal floor. Public Procurement Integrity: The Namibian Competition Commission and the Central Procurement Board signed an MoU aimed at boosting fair competition and cutting bid-rigging in public tenders. Household Debt: Bankers Association of Namibia says household debt is driven less by microlenders alone and more by low wages, short-term borrowing and weak financial buffers. Inflation Watch: Inflation is tilting to upside risks as transport costs rise, fuel subsidies are withdrawn, and El Niño threatens food and electricity pressures. Finance & Markets: FirstRand Namibia reported a N$2.1bn profit, while JPMorgan’s new emerging-markets bond index could give African countries nearly half the benchmark weight, with Namibia among the candidates. Mining & Energy: Unicorn Mineral Resources agreed to buy 75% of Q Global Copper Namibia, targeting faster copper development from historic surface material; Core Energy kicked off a maiden uranium drilling tender at Barking Gecko. Green Hydrogen: Namibia is attending the Africa Green Hydrogen Summit, stressing regional collaboration to turn hydrogen into industrial development. Business & Compliance: A court case highlights a key immigration point: foreign nationals can be lawfully present in Namibia without being legally authorised to work.