Nedbank Namibia says its decision to upgrade its Lüderitz branch is aimed at positioning the bank to support rising investment activity in southern Namibia as the coastal town emerges as a key hub for oil, green hydrogen and critical minerals logistics.
According to the bank, the branch revamp forms part of its Project Imagine initiative and comes as Lüderitz undergoes a major economic transformation driven by large-scale infrastructure developments and growing international investor interest.
Long known for fishing and tourism, Lüderitz is increasingly being repositioned as a strategic gateway for Namibia’s southern economic corridor.
Nedbank said one of the key developments underpinning this shift is the planned expansion of the Port of Lüderitz at Angra Point, a project backed by the European Union and the Port of Rotterdam to support future exports linked to green hydrogen, critical minerals and offshore oil and gas projects.
The lender said these developments are expected to increase demand for trade finance, foreign exchange services, project funding and broader banking services for businesses operating in the region.
According to Nedbank Namibia, local contractors, logistics companies, accommodation providers, engineers and small businesses will require financial backing as they position themselves to participate in large-scale projects.
Nedbank Namibia spokesperson Selma Kaulinge said the branch upgrade reflects the bank’s long-term view of Lüderitz’s economic potential.
“Lüderitz is entering a new phase of economic relevance for Namibia, one defined by long-term investment, international collaboration and development,” Kaulinge said.
She said the bank wants to ensure businesses, investors and local communities have access to financial services that match the region’s evolving economic opportunities.
The upgrade, according to the bank, signals growing private sector confidence in Lüderitz’s role in Namibia’s future industrial expansion.
