The Public Enterprises Governance Amendment Bill, 2025 — which has been passed by the National Assembly but is yet to be gazetted — seeks to transfer key powers over Namibia’s state-owned enterprises (SOEs) from the Ministry of Public Enterprises and the Ministry of Finance to the Office of the Prime Minister, marking a major structural shift in public enterprise oversight.
Once enacted, the law will give the Prime Minister authority to oversee the governance, management and performance of all public enterprises.
It will empower the Prime Minister to issue binding directives, approve remuneration packages and board appointments, and ensure compliance with national policies. These directives, once published in the Government Gazette, will carry the force of law.
According to the Public Enterprises Governance Amendment Bill, 2025, the proposed changes are intended to “transfer certain powers and functions relating to public enterprises from the Minister responsible for public enterprises and the Minister responsible for Finance to the Prime Minister and the relevant Minister.”
The Bill also introduces a new governance structure under which the relevant minister — defined as the minister responsible for the sector in which a public enterprise operates — will represent the state’s ownership interest and approve the entity’s strategic, financial and dividend plans.
“The relevant Minister must represent the State’s ownership interest in respect of a public enterprise under his or her portfolio and approve the integrated strategic business plan, annual business and financial plan, the annual budget and investment policy of the public enterprise,” the Bill states.
It further provides for the creation of a recruitment committee to recommend board appointments, with final approval resting with Cabinet.
Board members will serve three-year terms, renewable once, with further extensions permitted only in cases of limited skills availability and following consultation with the Prime Minister.
The Bill also proposes tighter controls over dividends and investments by commercial public enterprises.
“A commercial public enterprise must develop a dividend policy and submit it to the relevant Minister for approval,” it stipulates. The policy must also be approved in consultation with the Minister of Finance and reviewed by the Prime Minister before final approval.
In addition, all actions taken by the Prime Minister, the Minister of Finance or any relevant minister regarding commercial public enterprises between 21 March 2025 and the commencement of the law will be deemed valid once the Act comes into force.
The Bill, introduced by the Prime Minister and passed by the National Assembly, will take effect once it is published in the Government Gazette.
