Anglo American’s total tax and economic contribution to Namibia reached US$611 million (N$11.11 billion) in 2023.
This represents a slight decrease from the US$636 million (N$11.57 billion) contributed in 2022.
The comprehensive financial input includes wages, community investments, procurement, and taxes, underscoring the company’s ongoing commitment to Namibia’s economic development.
In 2023, Anglo American allocated US$85 million (N$1.55 billion) for wages and related payments, a slight reduction from US$90 million (N$1.64 billion) in the previous year.
Despite this decrease, the company demonstrated employment growth, with the workforce increasing from 1,500 individuals in 2022 to 1,600 in 2023. This rise in employment reflects Anglo American’s dedication to job creation and support for local communities.
The global mining conglomerate maintained its commitment to community and social investment, contributing US$4 million (N$72.76 million) in 2023, consistent with the previous year’s investment. This steady funding highlights the company’s ongoing efforts to support social development and improve the quality of life in Namibian communities.
Total procurement expenditure in 2023 was US$287 million (N$5.22 billion), slightly down from US$300 million (N$5.46 billion) in 2022. Local procurement accounted for US$162 million (N$2.95 billion), a minor drop from US$163 million (N$2.97 billion) the previous year. These figures illustrate Anglo American’s significant role in supporting local businesses and the broader Namibian economy.
In addition, capital expenditure stood at US$43 million (N$781.97 million), compared to US$45 million (N$818.55 million) in 2022. Anglo American’s total taxes and royalties borne and collected amounted to US$234 million (N$4.26 billion), a decrease from US$242 million (N$4.40 billion) in 2022. The breakdown includes US$73 million (N$1.33 billion) in corporate income tax, up from US$58 million (N$1.05 billion) in 2022, reflecting a substantial increase in corporate tax contributions.
The company reported US$48 million (N$873.12 million) in royalties and mining taxes, up slightly from US$46 million (N$836.74 million) in 2022, and US$23 million (N$418.37 million) in other payments borne, a significant rise from US$9 million (N$163.71 million) the previous year. However, taxes collected decreased to US$90 million (N$1.64 billion) from US$129 million (N$2.35 billion) in 2022.
Anglo American operates in Namibia through a 50:50 joint venture with the Namibian government, which includes land-based diamond operations (Namdeb) and offshore diamond recovery (Debmarine Namibia).
Globally, Anglo American reported a total tax and economic contribution of US$23.6 billion for 2023. This value generation includes US$3.2 billion in returns to capital providers, showcasing the company’s extensive economic impact worldwide.
In Botswana, Anglo American’s total economic contribution was US$1,159 million, down from US$1,226 million in 2022. In South Africa, the contribution was significantly higher at US$7,477 million, although it represented a decrease from US$9,095 million in 2022.
The company’s substantial investments in local procurement and community initiatives highlight its commitment to fostering economic growth in the regions where it operates.
