Namibia Power Corporation (NamPower) has disclosed that it recorded N$1.4 billion in profit after tax in 2025, while its asset base reached N$58 billion, highlighting the utility’s financial growth over the past three decades.
Although the figures relate to the 2025 financial year, NamPower Managing Director Kahenge S. Haulofu presented them as part of an assessment of the utility’s financial and operational growth over the past 30 years.
Haulofu said NamPower’s profit after tax increased from N$193 million in 1999 to N$1.4 billion in 2025, while its asset base expanded from N$3.8 billion to N$58 billion over the same period.
Cash generated from operations also increased from N$308 million in 1999 to N$1.9 billion in 2025, strengthening the utility’s capacity to finance capital projects and raise external funding.
Haulofu further disclosed that NamPower’s asset base has since increased to about N$59 billion, while operating profit currently stands at approximately N$1.3 billion.
He attributed the stronger financial position to financial discipline and sustained investment, saying it has improved NamPower’s credibility with commercial lenders and development finance institutions.
The financial growth has accompanied more than N$21.8 billion in infrastructure investment over the past 30 years, as the utility expanded Namibia’s generation and transmission network.
NamPower’s generation capacity increased from 394.6MW in 1996 to 563.5MW in 2026, following investments in the Anixas and Anixas II power stations, the fourth turbine at Ruacana Power Station and the Omburu photovoltaic power station.
Its transmission network of lines at 132kV and above expanded from about 3,100 kilometres in 1998 to nearly 8,500 kilometres, including almost 1,500 kilometres of 400kV transmission lines.
“Most of the growth came from building almost 1,500 kilometres of 400kV lines, which strengthened Namibia’s connection to the South African grid, and from roughly doubling the 220kV and 132kV networks to reach mines, towns and new load centres,” Haulofu said.
Despite the stronger balance sheet and capital investment, NamPower remains exposed to regional electricity markets, with imports accounting for an average of about 50% of Namibia’s annual electricity requirements.
Haulofu said the proportion can rise to as much as 70% during dry periods, leaving the utility exposed to regional supply availability and electricity costs.
NamPower also faces pressure from customer debt and non-payment, while balancing cost-reflective tariffs against electricity affordability.
The utility’s Integrated Strategic Business Plan for 2026 to 2030 will guide its next phase of investment, with security of supply remaining a key priority.
“As we look ahead, we commit to remain focused and steadfast as we have been over the past thirty years. Security of supply remains our priority and, with our new strategic plan, we are committed to ensuring the reliable supply of power,” Haulofu said.
The utility’s strengthened balance sheet and operating cash generation are expected to be important as NamPower seeks to finance additional generation and transmission capacity and reduce Namibia’s exposure to imported electricity.
