The African Export-Import Bank (Afreximbank) has pledged to finance major investment projects in Namibia through the Dangote Group and other credible African investors capable of delivering on the country’s economic development priorities.
Afreximbank President and Chairman of the Board of Directors, George Elombi, said the bank was prepared to support projects identified by the Namibian government, provided the investors demonstrated the financial credibility, technical expertise and capacity to execute them.
Speaking in Namibia, Elombi said Afreximbank’s willingness to provide financing to the Dangote Group was based on the company’s track record in implementing large-scale projects across Africa.
“We have no difficulty putting US$10 billion on the table for him because the money would not be lost. We know the projects would be done and with time as an institution we would be repaid,” Elombi said.
He said the bank was equally prepared to extend financing to other investors identified by Namibia, emphasising that its resources were intended to support economic development across the continent.
“African Bank’s money at the end belongs to the governments, to the states, to the African taxpayers. So those promoters whom you think you can give Namibia’s money to and go to sleep when you bring them, we will also support them in the same way that we support the Dangote Group,” he said.
Elombi urged the Namibian government to identify priority investment projects and engage Afreximbank on financing opportunities, particularly in sectors requiring substantial capital and technical expertise.
He called for coordination between the Bank of Namibia, the Ministry of Finance and the country’s economic planning authorities to identify projects that could be implemented through partnerships with established African investors.
“The money is there, we don’t have the expertise but the Dangote Group has the expertise,” Elombi said.
He stressed that Afreximbank’s mandate extended beyond conventional commercial lending, with the institution focused on financing projects that support industrialisation, infrastructure development and economic transformation across Africa.
“We are not a bank, we are a development institution. Banking is just a tool, an instrument for achieving that development,” he said.
Elombi said Afreximbank remained committed to supporting Namibia’s development ambitions by connecting financing with investors capable of implementing commercially viable projects.
He emphasised that successful investment partnerships would depend on the government’s ability to identify its most pressing economic challenges and work with credible project promoters to address them.
The financing pledge comes as the Dangote Group advances its investment plans in Namibia, including the development of a fuel storage facility and regional pipeline infrastructure at Walvis Bay.
However, Elombi did not announce a specific financing allocation for Namibia or confirm funding commitments to individual projects.
