A MONTHLY WRAP-UP OF NEWS WORTH KNOWING
42 YOUTH VENTURES WORTH N$14.7M SECURE FUNDING FROM N$500M FUND
The government has launched the National Youth Development Fund (NYDF), with 42 youthowned projects valued at N$14.78 million announced as the first beneficiaries.
Prime Minister Elijah Ngurare, officiating at the launch in Gobabis, said the N$500 million fund, with N$257 million allocated in the 2025/26 financial year, will provide affordable loans and grants to youth enterprises across all 14 regions.
According to the Prime Minister, the successful projects were selected from 11,475 applications received during the pilot phase and have the potential to create 315 jobs.He said startups will access between N$60,000 and N$200,000 at 2% interest, while growth and expansion enterprises will qualify for up to N$1 million at slightly higher rates.
The fund requires no collateral and includes a grace period of up to 12 months before repayment begins.Projects from across the regions received between N$80,000 and N$1 million, covering farming, renewable energy, auto repairs, welding, gemstones, leather processing, fisheries, recycling, media, butchery, brick manufacturing, film production and logistics.
Contributions from NamibRe, DBN, NIPAM and international partners such as the African Development Bank and the United Nations will support its sustainability.
STANDARD BANK NAMIBIA PROVIDES N$178M FINANCING FOR GOREANGAB MALL
Standard Bank Namibia has provided N$178 million in financing to Oryx Properties Limited for the development of the Goreangab Mall in Windhoek.
The mall, scheduled to open in May 2026, will span 14,500 square metres and host more than 40 tenants, including Shoprite as the anchor. It will serve Goreangab, Katutura and nearby communities.
“The Goreangab Mall is not just a retail centre; it is a catalyst for growth designed to unlock economic opportunities, uplift local businesses, and stimulate long-term development,” said Pieter Conradie, Manager: Client Coverage at Standard Bank Namibia.
The development forms part of the Goreangab Waterfront initiative, which also includes residential units and transport infrastructure, and is expected to create hundreds of jobs.
Francis Heunis, Chief Financial Officer of Oryx Properties, said: “The Goreangab Mall development represents a strategic step in our ongoing efforts to grow a resilient and inclusive property portfolio.” “It aligns with our commitment to invest in developments that not only deliver sustainable financial returns but also contribute to meaningful socio-economic progress in Namibia.”
DRAFT GREEN HYDROGEN BILL EXPECTED IN PARLIAMENT BEFORE YEAR-END
Namibia’s green hydrogen policy is nearing completion, with the drafting of legislation expected to start in November 2025 and a draft Bill anticipated to reach Parliament before the end of the year.
The policy document was submitted earlier this year to the Ministry of Industrialisation, Mines and Energy for sanctioning, and a final round of consultations was scheduled for October ahead of Cabinet consideration.
Speaking at the Global Green Hydrogen Summit, Mutindi Jacobs, Acting Deputy Chief in the Directorate of Law Reform and Legislation and Green Hydrogen Legislative Focal Person, said the draft had been developed by an inter-ministerial committee drawing input from a wide range of ministries, agencies and government entities to ensure inclusivity.
“Currently, we are in the process of appointing consultants who will translate this policy into legislation. It is anticipated that drafting of the legislative framework will begin in November 2025,” Jacobs said.
She explained that the policy is anchored on the Green Hydrogen Strategy of 2022 and the Green Industrialisation Blueprint, serving to set out the political intent, goals and direction of Namibia’s green hydrogen and green industrialisation agenda.
Jacobs further noted that the Sixth National Development Plan (NDP6), approved in June, has been aligned with the policy to ensure coherence between the country’s broader development goals and its hydrogen ambitions.
NAMIBIA PROPOSES URGENT AMENDMENT TO SHIFT PETROLEUM OVERSIGHT TO PRESIDENCY
Namibia’s Acting Minister of Industries, Mines and Energy, Frans Kapofi, tabled a notice in the National Assembly for an urgent amendment to the Petroleum (Exploration and Production) Act, 1991 (Act No. 2 of 1991) that seeks to transfer key decision-making powers from the ministry to the Office of the President.
Kapofi said the amendment aims to “delete, amend, and define certain expressions” in the current legislation to align with new institutional arrangements and the establishment of a dedicated Upstream Petroleum Unit under the Presidency.
“The amendment will provide for the powers, duties, and functions of the Director General and Deputy Director General, define or further define certain expressions, and provide for matters incidental thereto,” Kapofi said.
According to Kapofi, the legislation provides for the establishment, objectives and functions of the new unit, which will serve as the principal coordinating body for Namibia’s upstream petroleum activities.
The amendment represents a major structural change in Namibia’s petroleum governance framework, consolidating regulatory and oversight powers within the Presidency through a dedicated unit responsible for exploration and production oversight.
BANNERMAN ACHIEVES 16 YEARS WITHOUT LOST-TIME INJURY AT ETANGO PROJECT
Bannerman Mining Resources Namibia has recorded 16 consecutive years without a Lost-Time Injury (LTI) at its Etango Uranium Project, the company confirmed this week.
The milestone was reached on 7 October 2025 and, according to the company, reflects its “collective commitment to safety.” Bannerman said maintaining such a record “isn’t a matter of luck” but the result of “continuous vigilance, adherence to procedures, and a proactive approach to hazard identification.”
“While we celebrate this major achievement, we must also use it as motivation to keep the momentum going. Safety is a continuous effort, and our vision remains the same: to ensure everyone gets home healthy and safe, every single day,” said Managing Director Werner Ewald.
