Namibia has clinched the top spot in Africa and second place globally in the 2025 Green FDI Performance Index, a remarkable leap of 10 places from last year, announced Dr. Nangula Uaandja, CEO of the Namibia Investment Promotion and Development Board (NIPDB). Speaking at the opening of the Namibia Oil & Gas Conference 2025, Uaandja revealed the nation is outperforming its foreign direct investment (FDI) projections by nearly eightfold, fueled by recent offshore oil discoveries.
According to data from the US International Trade Administration (ITA), Namibia’s Orange Basin holds an estimated 11 billion barrels of light oil and 2.2 trillion cubic feet of natural gas. “If proven commercially viable, these finds could unlock an unprecedented revenue windfall,” stated Uaandja, quoting the ITA report, which projects Namibia’s GDP could more than double by 2040. Global oil service giants Baker Hughes and Halliburton are already expanding operations in the country to support the burgeoning sector.
Linking the conference theme “From exploration to action” to a cultural metaphor, Uaandja described investment as “sowing.” “In Namibia, we have been sowing, and it looks like we will continue to sow a bit longer before we reap,” she said, acknowledging investor eagerness for returns while highlighting reduced risks. She attributed Namibia’s investment appeal to “stability, rule of law, an independent judiciary, and openness,” noting the Fraser Institute’s 2023 ranking of Namibia as Africa’s fourth-most attractive mining destination.
However, Uaandja struck a sobering note, juxtaposing this economic potential with deep-seated challenges. Despite abundant minerals like diamonds and uranium, Namibia remains the world’s second-most unequal nation, with broad unemployment exceeding 50% and widespread poverty. “One in three people in the labour force is unemployed… many Namibians still go to bed hungry,” she emphasized, stressing that resolving these issues is President Netumbo Nandi-Ndaitwah’s core focus.
The NIPDB CEO outlined a multi-pronged approach: leveraging investment promotion, fast-tracking SME support, aligning workforce training with industry needs, and integrating small businesses into value chains. Crucially, she called for unity in addressing foundational priorities: “Even if we agree on only 1% of things, let us give them 100% of our attention.”
Concluding with a powerful appeal, Uaandja urged delegates to ensure the oil and gas transition “from exploration to action” benefits all Namibians: “How can we make sure that when this industry moves forward, the person in a deep, deep village is also able to benefit?”
The conference opened with high-level attendance, including Deputy Prime Minister Natangwe Ithete, opposition leader Dr. Panduleni Itula, and diplomats.