President Netumbo Nandi-Ndaitwah has included mining, energy, oil and gas among eight economic enablers that will drive development.
Speaking during her inaugural state of the nation address on Thursday, April 24, 2025, Nandi-Ndaitwah said Namibia has a conducive environment for foreign and domestic investors to invest in various sectors of the economy.
She said this should allow Namibia to diversify and grow the economy to fight unemployment, which is disproportionately affecting young people.
According to Nandi-Ndaitwah, the 8th Administration has now focused on value addition and natural resource beneficiation as a frontier for job creation and economic growth.
She said strategic projects and programmes will be partly funded through the national budget, public-private partnerships, and domestic and foreign investment.
Although mining contributes 12% to Namibia’s GDP and over 50% to foreign exchange earnings, Nandi-Ndaitwah said regrettably, this does not reflect the true mining potential and mineral resources.
“We know value addition and natural resource beneficiation equals job creation and industrialisation.
“As part of value addition, the Hyiron Oshivela Plant was opened in Arandis, which I opened on April 11, 2025,” she said.
She added that 400 people were employed during the construction, and with more investors showing interest, the project would lead to steel production in Namibia.
The President also said that critical minerals such as lithium, cobalt, manganese, graphite, and rare earth elements are targets for value addition.
She pointed out that only a fraction of Namibia’s marble is exported as a finished product, and more investment will be mobilized to scale up value addition.
“The oil and gas sector can transform our economy in the next 5 years.
“This new industry will require close monitoring, hence my decision to place it in the Presidency as I look to nurture its potential to benefit Namibians.
“To gain maximum benefit from this industry, the oil refinery is part of the programme,” she said.
Nandi-Ndaitwah added that the 8th Administration will ensure that Namibia achieves its first oil production within the shortest timeframe.
“We will accelerate strategic partnerships, streamline regulatory processes, and invest in critical infrastructure to unlock the full potential of our hydrocarbon resources. “This milestone will fuel our energy security and drive rural and peri-urban electrification, job creation, local capacity development and sustainable growth for generations to come,” she said.
She pointed out that Namibia is the world’s third highest producer of uranium, and as part of value addition, the country must not shy away from using this God-given resource to contribute to the energy mix.
“While I am not in a position to tell you when we will have a nuclear energy power plant in Namibia, I can assure you that the discussions will certainly begin this Financial Year,” she said.
