Namibia’s green industrial ambitions are gaining ground as a national investment plan under the Climate Investment Funds’ (CIF) Industry Decarbonisation Programme nears finalisation.
The plan is being developed through the Namibia Green Hydrogen Programme in collaboration with global asset manager Ninety One.
It seeks to attract long-term, patient capital to fund critical infrastructure in support of Namibia’s clean energy goals and broader regional development.
“Namibia has some of the best solar and wind resources globally.We’ve seen a number of exciting projects come online in recent years, and we expect to see more going forward. This investment will stimulate job creation and reduce the country’s reliance on imported electricity,” Ninety One’s Managing Director for Africa, Eino Emvula told Namibia Mining & Energy.
The CIF-backed programme aims to mobilise both concessional finance and substantial co-financing from private investors and development finance institutions. According to Emvula, the initiative forms part of Namibia’s wider efforts to establish a low-carbon, climate-resilient economy and attract sustainable foreign direct investment.
Namibia’s proposal to the CIF was submitted under the leadership of the Ministry of Finance and ranked third out of 26 global submissions.
“Each participating country was required to partner with a private sector entity with a strong track record,Through our partnership with the Private Infrastructure Development Group, Ninety One has been managing the Emerging Africa and Asia Infrastructure Fund in a structure similar to what CIF envisions,” said Emvula.
He added that Ninety One’s role in Namibia’s application included providing technical expertise, a demonstrated ability to manage and allocate capital for comparable projects, and close to 30 years of operational experience in the Namibian market.
“We also brought our experience in structuring and raising co-financing capital, which will be vital to fully realise this opportunity,” he said.
Emvula noted that CIF capital is intended to be catalytic and must be paired with commercial finance.
“It must be complemented by private sector capital and large savings pools from local, regional, and offshore markets. We are already in discussions with various asset owners to raise the necessary funding,” he said.
He further highlighted the country’s readiness to develop its clean energy sector.
“What does a clean industry need? Predictable policies, a stable economy, high-quality natural resources and a clear execution plan. Namibia has all of these in place, making it an ideal destination for the development of this emerging sector,”Emvula said.
The CIF’s US$1-billion Industry Decarbonisation Programme is the first global concessional finance initiative dedicated to reducing industrial greenhouse gas emissions in developing countries.
