As Namibia positions itself on the global energy map, the future of its oil and gas sector is becoming an increasingly compelling investment opportunity. However, this emerging industry is not one for the faint of heart, as the oil and gas space in Namibia is a complex, long-term venture. As Angelique Peake, Oil and Gas, Energy and Resources Sector Lead at RMB Namibia, asserts, “The reality is that there’s been such a massive hype in Namibia and surrounding countries over the past two to three years, but the expectations are huge, without a true understanding of how this industry works. Oil and gas is a powerhouse, and we at RMB Namibia are at the forefront of understanding it.”
Namibia’s oil and gas sector is still in its early stages. Still, the country’s recent discoveries, including some of the largest offshore reserves, have positioned it as a significant player on the global energy stage. Despite the excitement, the nature of this sector demands patience. Angelique explains, “Exploration is a long game. We’re talking about decades of development, not just a quick win.” As Namibia’s offshore activities and appraisal of reserves progress, the pace of development is far from immediate. However, the opportunity is immense and will evolve over many years.
The global energy landscape is undergoing a critical transformation. The shift towards clean energy is well underway, yet Angelique points out that “the energy transition is not linear”. While renewable energy is an essential piece of the puzzle, the reality is that oil and gas will continue to play a critical role in the world’s energy mix for the foreseeable future. As global demand for energy rises, Namibia’s oil and gas reserves are poised to meet part of that demand, serving both the energy market and the petrochemical industry.
Namibia’s government has already made proactive efforts to learn from global leaders in the sector, and these collaborations are expected to drive the country’s regulatory landscape forward. Angelique mentions that the local content policy is still in draft form but is being debated, and private sector inputs are being sought. This dialogue between the public and private sectors is key to creating a regulatory framework encouraging investment and fostering long-term partnerships in the oil and gas sector.
This growing energy economy presents many opportunities for investors looking to engage in the sector. Namibia is already seeing the tangible effects of this transformation, from infrastructure development to rising demand for local services. The local economy is feeling the impact, with real estate prices rising and new logistics developments springing up. “The activity we’re seeing in Namibia is palpable… infrastructure development is already happening,” confirms Angelique.
For investors, the long-term nature of this industry means that early engagement will be crucial to capturing value as the sector matures. “We at RMB are positioning ourselves as key enablers of this transition, helping companies navigate the complexities of the industry and finance local growth. However, the opportunity, and responsibility, extends beyond RMB alone. By deeply embedding ourselves in the sector, we are not only shaping solutions from a corporate and investment banking perspective but also working closely with our FNB Namibia Commercial and Retail colleagues to ensure that businesses across the value chain (from large industry players to SMEs and local suppliers) have access to the right financial tools and support. This holistic approach strengthens the entire ecosystem, ensuring that Namibia’s emerging oil and gas industry drives sustainable, broad-based economic growth,” according to Angelique.
As Namibia embarks on its journey into the global energy market, the road ahead may be challenging, but the rewards are undeniable. The country’s growing oil and gas industry is not just a prospect for today, it is a long-term opportunity that could significantly shape Namibia’s future, driving economic growth and regional energy security.
One of the key elements to Namibia’s success in the oil and gas industry will be the ability to secure local and foreign investment and facilitate the development of the necessary infrastructure. In this regard, RMB Namibia stands as a critical partner. As part of the larger FirstRand Group, RMB Namibia has demonstrated its capability to support some of the most substantial corporates in the country, including major players in the oil and gas sector.
RMB Namibia’s full-service corporate and investment banking offering provides a comprehensive suite of solutions for oil and gas industry clients. Whether it is project financing, treasury and trade solutions, or capital raising, RMB Namibia offers the necessary expertise to ensure businesses thrive in the complex and competitive global energy landscape. As Philip Chapman, CEO of RMB Namibia, points out, “Our philosophy is to build a long-term sustainable Namibia through partnering with our clients.” This long-term, sustainable approach is critical in the oil and gas industry, where project timelines span decades.
RMB Namibia is also deeply invested in building Namibia’s local financial ecosystem to support the oil and gas industry. Angelique emphasises, “It’s not just about financing; it’s about building an ecosystem of local support and understanding the complexities of the industry.” RMB Namibia’s involvement ensures that local companies have access to the necessary capital and strategic guidance to navigate this complex sector.
