Namibia eyes local mineral processing
The country’s president says international investors will be required to work with local partners.
Namibia's president is urging foreign investors to construct processing facilities on-site rather than seeking raw mineral exports. Netumbo Nandi-Ndaitwah, speaking at an Invest Africa event during the UN General Assembly, emphasized that investors should not be treated as "briefcase businesses." Namibia, a mining-focused economy, exports raw minerals such as uranium, lithium, rare earths, copper, and graphite.
Nandi-Ndaitwah proposed a long-term partnership and a stable business environment for investors in exchange for processing locally. She also encouraged foreign companies to collaborate with local entrepreneurs to contribute to the local economy. This stance aligns with a growing trend across Africa, where governments seek a larger share of the value chain and associated employment opportunities.
A dozen African nations, including Guinea, Malawi, and Zimbabwe, have restricted the export of unprocessed minerals to promote local refining. Nandi-Ndaitwah went further by incorporating local partnership requirements into law, a concept previously stalled due to opposition from business groups. Namibia introduced a 15% local ownership mandate for new mining licenses since 2021, up from the earlier 10% requirement.
The president, elected in 2024 on a pledge to generate 500,000 jobs by 2029, highlighted the urgency of creating employment opportunities as nearly 40% of the population is unemployed. She stressed that while offshore oil revenues could help achieve her job creation targets, they could also foster dependency on external resources.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
