Namibia’s mining industry has delivered a substantial N$31.463 billion in revenue to the national government since 2019, cementing its role as a critical pillar of the nation’s economy. This significant financial contribution, revealed last week by Chamber of Mines of Namibia President George Botshiwe during his welcome address at the 12th Mining Expo & Conference, underscores the sector’s resilience and strategic importance despite facing global headwinds.
Speaking before a distinguished gathering including President Netumbo Nandi-Ndaitwah, cabinet ministers, diplomats, industry leaders, and exhibitors at the Windhoek Showgrounds, Botshiwe detailed the multifaceted value of the mining sector. The N$31.463 billion infusion into state finances over the past six years stems from royalties, corporate taxes, export levies, and dividends paid by mining operations. These funds, Botshiwe emphasized, are vital for driving national development priorities and enhancing public service delivery.
“This achievement reflects the sector’s alignment with our broader national goals, particularly the Sixth National Development Plan (NDP6), which prioritises industrialisation, inclusivity, and sustainable economic growth,” President Botshiwe stated.
The announcement came at the opening of the largest Mining Expo & Conference to date, a landmark event boasting a record 198 exhibitors occupying 335 booths. For the first time, the Expo spans three full days, reflecting its growing stature and the intense interest in Namibia’s mineral potential. Attendees include 21 companies from the Southern African Development Community (SADC) region and four international exhibitors, alongside a strong contingent of Namibian firms.
Beyond direct revenue: A foundation for growth
Botshiwe highlighted that mining’s contribution extends far beyond direct government payments. Despite a sectoral contraction of 1.2% in 2024, largely attributed to pressure on the diamond sector from lab-grown alternatives and economic challenges in key markets, the industry remains the bedrock of the economy. It contributes a commanding 13.3% to Namibia’s Gross Domestic Product (GDP), maintaining its position as the leading primary sector.
Furthermore, the industry demonstrated resilience by creating approximately 2,600 new jobs in 2024. While acknowledging mining isn’t traditionally the largest direct employer, Botshiwe stressed its profound indirect impact. Mining companies spent a substantial N$23.94 billion on procuring goods and services from Namibian businesses in 2024 alone. This represents 46.2% of the industry’s total revenue and 62% of its total procurement, acting as a powerful engine for inclusive growth and supporting thousands of local enterprises nationwide.
“The true value of mining lies in the vast network of indirect jobs it supports through the mining supply chain,” Botshiwe asserted. He passionately advocated for Namibian entrepreneurship within this supply chain as the most significant opportunity for citizens to benefit from the country’s mineral wealth.
Fostering local participation and future promise
Initiatives like the Database of Mining Inputs and Services, launched at last year’s Expo, are actively supporting this goal. This free, publicly accessible platform helps Namibians identify commercial opportunities within the mining sector. The Chamber is currently running campaigns to raise awareness and guide potential entrepreneurs on using the database effectively.
Investor confidence in Namibia’s mineral prospects remains robust, Botshiwe reported. The 2024 Fraser Institute Survey of Mining Companies ranked Namibia as the fourth most attractive destination for mining and exploration investment in Africa, citing competitive advantages and policy stability. This confidence is translating into tangible projects: The Etango-8 uranium project (Bannerman Energy) and the Tumas uranium project (Deep Yellow) are advancing, reinforcing Namibia’s global position in nuclear fuel supply and the Twin Hills gold project (Osino Resources) is progressing towards becoming Namibia’s third gold mine.
“These developments reaffirm that, despite short-term challenges, Namibia’s mining sector is well-positioned to drive long-term economic transformation, create jobs, empower local communities, and build a more inclusive and prosperous future,” Botshiwe declared, aligning with the Expo’s theme: “Mining for Namibia’s Future: Job Creation, Local Empowerment, and Economic Transformation.”
Gratitude and Collaboration
The Chamber President extended sincere gratitude to all exhibitors for their unwavering commitment, particularly through challenging economic periods. He also acknowledged the crucial support of sponsors, especially Rand Merchant Bank (RMB), the anchor sponsor for the past three years. RMB’s support enabled enhanced features like B2B facilities, dedicated meeting rooms, the Supplier’s Platform, and the Mining Expo Mobile App. Additional thanks went to Emergenci ThreeSixty for providing free emergency services, Rent-a-Drum for waste management ensuring a clean environment, and Office Economix for furniture sponsorship.
The tradition of complimentary booths for key institutions was also maintained for the 12th time. Recipients this year included the Ministry of Mines and Energy, the Ministry of Environment, Tourism and Forestry, the University of Namibia (UNAM), the Namibia University of Science and Technology (NUST) Mining Department, the Namibian Uranium Association, the Namibian Institute of Mining and Technology (NIMT), the Southern Africa Institute of Mining and Metallurgy (SAIMM) Namibia Branch, the Emerging Miners Association of Namibia (EMAN), and the Women in Mining Association Namibia (WiMAN).
President Botshiwe concluded by expressing optimism for a successful Expo, reinforcing the Chamber’s 56-year commitment to being the voice of an industry fundamental to Namibia’s economic foundation and future prosperity. The revelation of the N$31.463 billion contribution since 2019 stands as a powerful testament to that enduring significance.