Namibia Cancels Oil and Gas Contracts with the United States, Reclaims Control Over Natural Resources-ISSUE#49☕

From financial rescue packages to bold policy moves, today’s top stories capture the pulse of Namibia’s economy, environment, and community spirit:

•  Meatco Gets N$730 Million Boost — A vital government bailout eases pressure, but structural hurdles remain.

•  Banks Go Green — Namibia’s financial institutions embrace sustainable finance for long-term impact.

•  Poultry Ban Eases — Imports from Brazil resume, with continued caution on Rio Grande do Sul.

•  Namibia Cancels U.S. Oil & Gas Deals — The nation reclaims sovereignty over its natural resources.

•  Rehoboth Wedding Expo 2025 — Celebrating love while uplifting the community.

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BUSINESS & ECONOMY

Meatco’s Financial Lifeline: N$730 Million in Government Support Eases Debt, But Challenges Persist

The Namibian government has injected approximately N$730 million into the Meat Corporation of Namibia (Meatco) over the past four years, largely to help the state-owned meat processor manage its mounting debts and operational pressures.

Debt Repayment Takes Centre Stage
According to data from Foster Digital Education, a significant 71% of this funding—around N$519 million—was allocated to settling Meatco’s loans, including two major facilities from the Development Bank of Namibia that were ultimately paid off by the government in the 2024 financial year. The remaining N$211 million (29%) was provided as grants to support day-to-day operations.

Financial analyst Fimanekeni Mbodo notes, “The N$519 million for settled loans covers two Development Bank of Namibia loans that were taken out by Meatco and eventually paid by the government in the 2024 financial year.”

Strained Margins and Volatile Revenues
Meatco’s financial struggles have been compounded by declining cattle slaughter volumes and unpredictable revenues. “Cost of sales consistently consumed approximately 97% of revenue across all years, resulting in extremely thin margins that prevented profitability despite revenue fluctuations,” Mbodo explains.

Between 2020 and 2022, the number of cattle slaughtered by Meatco plummeted by 68%, with revenue dropping by 58%. A partial recovery emerged in 2024, with 65,427 heads of cattle processed, generating N$1.2 billion in revenue—up from 38,075 heads and N$765 million in 2023.

Mbodo attributes the unusually high 2020 figures to severe drought, which forced many farmers to destock, leading to a temporary spike in supply and revenue.

Losses Narrow, But Cost Pressures Remain
Despite the rebound, Meatco remained in the red throughout the period. Losses peaked at N$205 million in 2022, narrowing to N$68 million in 2024. Employee and finance costs remain the largest expenses, with finance costs alone rising 34% from N$61 million in 2020 to N$82 million in 2024. “Employee costs, the largest individual expense, remained relatively stable throughout the period,” Mbodo adds.

Debt and Asset Dynamics
Debt has been a persistent burden, with liabilities peaking at 92% of total assets in 2023 before easing to 67% in 2024. “Meatco’s total assets also declined over time due to equity erosion from repeated losses. The increase in total assets observed in 2024 is attributed to government grants and loan repayments,” Mbodo notes.

Export Markets Remain Vital
International markets continue to underpin Meatco’s revenue, accounting for 79% of total income in 2024. The European Union led the way, responsible for 42% of revenue, followed by Norway (17%) and South Africa (8%).

The Bottom Line
While government support has provided Meatco with breathing room and helped reduce its debt load, the company’s path to sustained profitability remains challenging. With export markets playing a crucial role and operational costs still high, the next chapter for Meatco will depend on strategic cost management and continued access to international markets.

Source: The Namibian

Namibia’s Banks Step Up: Sustainable Finance Takes Centre Stage

As Namibia’s economy evolves, the role of commercial banks is transforming. No longer just custodians of liquidity and facilitators of credit, banks are now pivotal players in driving sustainable development and economic resilience.

The Shift: From Traditional Funding to Sustainable Finance

Traditionally, banks have aligned funding costs with credit pricing to support economic growth. But the global financial landscape is changing, with sustainability now a core part of financial strategy. For Namibia, this means banks must move beyond business as usual and become strategic enablers of sustainable development.

Why? Because public sector funding alone can’t meet Namibia’s ambitious developmental goals. The solution: mobilising capital not just from conventional sources, but also through innovative instruments like green, social, and sustainability bonds. These thematic bonds demand greater transparency and accountability—qualities that resonate with investors and regulators alike.

Namibia’s Unique Position—and Its Challenges

Namibia, as a net carbon sink, faces heightened vulnerability to environmental shocks. Directing funds toward projects that deliver both ecological and social benefits is crucial for building economic resilience and achieving national development targets.

However, Namibia’s sustainable finance sector is still finding its feet. While interest in thematic financial instruments is growing, actual issuance remains limited. Transformational projects often require blended finance structures—mixing public and private capital to make them viable. But access to concessional (low-cost) funding, especially for private enterprises, remains a hurdle.

Beyond bonds, other funding mechanisms like co-financing, guarantees, risk-sharing facilities, and insurance can help unlock more capital. By adopting a more agile and forward-thinking approach, Namibia’s financial institutions can accelerate the country’s transition to a sustainable, resilient economy.

Treasury’s Evolving Role: The Bank Windhoek Example

Within this landscape, the treasury function at institutions like Bank Windhoek is taking on new significance. Treasury teams are not just managing liquidity—they’re actively mobilising funds and shaping the bank’s sustainability agenda.

Bank Windhoek led the way as Namibia’s first issuer of green and sustainability bonds, successfully attracting private capital for impactful projects. Their Sustainability Loan product is another milestone, channeling funding into ventures that align with environmental and social objectives.

Globally, sustainable debt issuance is on the rise, reaching US$1.49 trillion in 2024, with green bonds making up 75% of the total. But Africa’s share is still modest. To close this gap, Namibia must leverage the collective strength of corporations, municipalities, financial institutions, and government to build a robust sustainable finance ecosystem.

The Way Forward: Partnerships and Policy Innovation

Unlocking Namibia’s sustainable finance potential requires collaboration. Multi-stakeholder partnerships—including government, international agencies, and the private sector—are essential to co-finance green infrastructure and scale up impact.

Learning from early adopters and adapting international best practices to Namibia’s unique context will help ensure that funding priorities align with national development goals.

In a country where climate change and economic inequality are pressing issues, the treasury function must go beyond financial management. It must act as a visionary leader—aligning liquidity with strategic funding, and fostering collaboration across business units to deliver real-world impact.

Bank Windhoek, and Namibia’s banking sector at large, are committed to this transformative journey—mobilising capital for a sustainable future, and helping Namibia thrive in a changing world.

Source: The Namibian

Namibia Eases Poultry Import Ban from Brazil, Maintains Restrictions on Rio Grande do Sul

Namibia’s Ministry of Agriculture, Fisheries, Water and Land Reform has announced a partial lifting of its ban on the import and in-transit movement of live poultry, poultry meat, and poultry products from Brazil—a move set to ease supply concerns for local businesses and consumers.

Targeted Restrictions Remain

Effective immediately, the import suspension now applies exclusively to the state of Rio Grande do Sul. This adjustment follows a comprehensive risk assessment submitted by Brazil’s veterinary authority and thoroughly reviewed by Namibia’s Directorate of Veterinary Services (DVS).

In an official statement released Wednesday, the ministry clarified:

Background: Responding to Disease Outbreaks

The original nationwide ban was implemented in response to outbreaks of highly pathogenic avian influenza (HPAI) in Brazil. The ministry’s latest decision signals confidence in the risk mitigation measures presented by Brazilian authorities—except for the affected state.

Implications for Trade and Food Security

This targeted approach is expected to stabilize poultry supplies in Namibia while maintaining strict biosecurity protocols. Local importers and retailers can resume sourcing from other Brazilian states, supporting both market stability and consumer choice.

Looking Ahead

The ministry emphasized its ongoing commitment to safeguarding animal and public health, noting that restrictions will be reviewed as the situation in Rio Grande do Sul evolves.

The Bottom Line

Namibia’s measured response reflects a balance between protecting local agriculture and ensuring food security. As authorities continue to monitor developments, the country remains vigilant—ready to adapt import policies to emerging risks and opportunities in the global food supply chain.

Source: The Namibian

Namibia

Namibia Cancels Oil and Gas Contracts with the United States, Reclaims Control Over Natural Resources

In a bold and strategic move to reinforce national sovereignty, the Namibian government has officially cancelled its oil and gas contracts with the United States, effective immediately. This decisive action signals a clear shift towards full state ownership and management of Namibia’s rapidly growing oil and gas sector.

The government’s new policy prioritizes state-led development, ensuring that Namibia’s natural wealth directly benefits its citizens and economy. Foreign companies, including major U.S. players, will no longer hold dominant roles in resource extraction. Instead, the government will take the helm in overseeing and regulating the sector, aiming to maximize economic growth, transparency, and sustainable development.

Namibia’s emergence as a global hotspot for offshore oil and gas exploration has attracted significant international attention, with major discoveries fueling optimism. Despite cancelling contracts with U.S. firms, Namibia remains committed to responsible resource development under sovereign state control. This move is expected to reshape relationships with foreign investors, including companies like Chevron, which holds a significant stake in the PEL 82 oil block.

While some social media narratives have portrayed this decision as a total ban on U.S. involvement, official sources clarify that the government’s focus is on asserting sovereignty and prioritizing national interests—not an outright exclusion of foreign partnerships. Both the Namibian presidency and the U.S. State Department have yet to confirm a full severance of ties but acknowledge Namibia’s intent to lead resource management more directly.

As Namibia embarks on this new chapter, the international community and industry stakeholders will be watching closely to gauge the impact on the country’s economic trajectory and foreign investment climate. The government’s commitment to transparency and accountability will be crucial in ensuring that Namibia’s oil and gas wealth translates into long-term prosperity for its people.

This move aligns with a broader African trend of nations reclaiming control over their natural resources to drive inclusive growth and economic independence. Namibia’s decision sends a strong message: the era of foreign dominance in its resource sector is giving way to a future defined by national ownership and shared benefit.

Source: WahalaNetwork

Events

Rehoboth Wedding Expo Namibia 2025 Set to Spark Joy and Support Community Cause

The much-anticipated Rehoboth Wedding Expo Namibia 2025 is gearing up to take place from 5 to 7 June at the Hermanus van Wyk Community Hall in Rehoboth. This vibrant event aims not only to celebrate love and weddings but also to raise vital funds for the Annalie Olivier Old Age Home.

Organiser Enid Vergotine invites the public to join the festivities, promising a lively atmosphere with a kiddies area, braai stalls, potjiekos, cake tasting, cocktail hour, cash bar, and more. “Weddings involve a lot of planning and excitement. Our goal is to bring together Rehoboth’s small and medium enterprises (SMEs) in the wedding industry under one roof, giving bridal couples a chance to meet and engage with local vendors,” Vergotine explains.

The expo will feature special guests, including Dr Olivier from the old age home, Rehoboth Mayor Justin Coetzee, and 2024 Miss Namibia, Prisca Anyolo, adding star power to the event.

Kicking off with a gala dinner, the expo offers a prime opportunity for the town’s business community to network and collaborate.

“Last year’s event was a one-day affair, but this year we’re expanding to three days with even more exciting activities and showcases. Our stalls will highlight products and services designed to make every wedding a memorable and heartfelt celebration,” says Vergotine.

Tickets are available at N$400 per person, promising a weekend filled with inspiration, community spirit, and support for a worthy cause. Don’t miss out on this unique blend of celebration and charity in Rehoboth this June!Rehoboth Wedding Expo Namibia 2025 Set to Spark Joy and Support Community Cause

The much-anticipated Rehoboth Wedding Expo Namibia 2025 is gearing up to take place from 5 to 7 June at the Hermanus van Wyk Community Hall in Rehoboth. This vibrant event aims not only to celebrate love and weddings but also to raise vital funds for the Annalie Olivier Old Age Home.

Organiser Enid Vergotine invites the public to join the festivities, promising a lively atmosphere with a kiddies area, braai stalls, potjiekos, cake tasting, cocktail hour, cash bar, and more. “Weddings involve a lot of planning and excitement. Our goal is to bring together Rehoboth’s small and medium enterprises (SMEs) in the wedding industry under one roof, giving bridal couples a chance to meet and engage with local vendors,” Vergotine explains.

The expo will feature special guests, including Dr Olivier from the old age home, Rehoboth Mayor Justin Coetzee, and 2024 Miss Namibia, Prisca Anyolo, adding star power to the event.

Kicking off with a gala dinner, the expo offers a prime opportunity for the town’s business community to network and collaborate.

“Last year’s event was a one-day affair, but this year we’re expanding to three days with even more exciting activities and showcases. Our stalls will highlight products and services designed to make every wedding a memorable and heartfelt celebration,” says Vergotine.

Tickets are available at N$400 per person, promising a weekend filled with inspiration, community spirit, and support for a worthy cause. Don’t miss out on this unique blend of celebration and charity in Rehoboth this June!

Source: The Namibian