• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Thursday, July 3, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
13 °c
Columbus
19 ° Tue
21 ° Wed
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Namibia sovereign wealth fund law being developed

by editor
March 13, 2023
in Business & Economy
44
A A
57
SHARES
953
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

Namibia seeks stronger U.S. partnerships at Africa Business Summit

April inflation rises to 3.6%, driven by food and housing costs

NamRA uncovers N$666,000 tax refund fraud scheme

Finance and Public Enterprises Minister Iipumbu Shiimi says the government is working to pass a new law to regulate the Welwitschia Sovereign Wealth Fund  in the next two years.

The Fund, which is managed by the Bank of Namibia, was launched in May last year and is currently capitalised to the tune of N$300 million. 

“We are working on the law. We are hoping to pass that law within the next two years or so, so that we create a legal framework to be able to harvest our plenty when we have plenty,” Shiimi said.

The Minister added that a policy framework has been approved by the government and work is now being done to translate the framework into law.

Shiimi said the Fund will help the government to save for rainy days.

“When we have significant revenue and we are headed in that direction, there are some significant resources that have been found in the oil sector, we are talking about rare-earths, we are moving in that direction where we will have some years of plenty so what are we going to do with that plenty?” he said, adding that “the SWF is created for that purpose”.

SWF will collect some of the royalties from all mineral resources sold as well as some tax revenues and money raised by the government divesting from its investment holdings.

Namibia launched a sovereign wealth fund, months after oil discoveries by oil giants TotalEnergies and Shell off its coast. The Fund is anticipated to invest 2.5% of its portfolio locally to fund Namibia’s infrastructure gap.

Hyphen Hydrogen Energy, which has won two bids to construct Namibia’s inaugural green hydrogen projects, has committed 2.5% of the annual revenue to be generated from the project to go to the Fund.

“We are looking forward to the prospects and opportunities that will emanate from the recent discoveries of oil and the green hydrogen energy, which have the potential to further boost the fund’s capital,” President Hage Geingob said at the Fund’s launch last year.

author avatar
editor
See Full Bio
Tags: economy
Share23Tweet14Share4
Previous Post

PM demands more returns on local diamonds

Next Post

Marginalised communities in need of N$157 million

Recommended For You

Namibia seeks stronger U.S. partnerships at Africa Business Summit

by reporter
June 23, 2025
0
Namibia seeks stronger U.S. partnerships at Africa Business Summit

Namibia will participate in the 2025 U.S.-Africa Business Summit, with the country’s attendance aimed at deepening economic ties with the United States and promoting investment and trade opportunities....

Read moreDetails

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails

Namibia to create 3,600 jobs through global accelerator project

by editor
April 30, 2025
0
Namibia to create 3,600 jobs through global accelerator project

Namibia is set to roll out the Global Accelerator project during the current financial year, aiming to generate over 3,600 jobs through the biomass sector and other sustainable...

Read moreDetails
Next Post
Marginalised communities in need of N$157 million

Marginalised communities in need of N$157 million

Related News

NIPDB bags Award

NIPDB bags Award

December 17, 2021
Letshego Holdings Namibia records N$199m after-tax profit

Letshego Holdings Namibia records N$199m after-tax profit

August 28, 2024
Greenwashing, unmasked a journey to genuine sustainability in Namibia 

Greenwashing, unmasked a journey to genuine sustainability in Namibia 

April 11, 2024

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • Namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.