The Dangote Group’s planned investment in Namibia is estimated at approximately N$2.6 billion (US$140 million) through the development of a petroleum tank farm at the Port of Walvis Bay, with negotiations with the Namibian government continuing over the final scope of the project.
Director General of Namibia’s National Planning Commission (NPC), Ambassador Dr Kaire Mbuende, told Namibia Mining & Energy that the proposed investment forms part of government’s broader efforts to attract strategic domestic and international capital to address Namibia’s social and economic challenges.
“The Namibian Government has long recognised that addressing the country’s social and economic challenges cannot be achieved by government efforts alone,” Mbuende said. “Strategic investments, both domestic and international, are essential to maximise the value of our resources and to ensure broad-based benefits for the Namibian people.”
He said the Dangote Group’s proposed tank farm at Walvis Bay is intended to supply petroleum products to the African market and is among several investments emerging from ongoing engagements with international investors.
Mbuende said the NPC is not in a position to provide cost estimates attributable to other countries referenced in Dangote’s memorandum of understanding with Zimbabwe, which cites investments exceeding N$18.5 billion (US$1 billion). However, he confirmed that approximately N$2.6 billion (US$140 million) has been earmarked specifically for investment in Namibia.
He said Dangote, as the investor, will bear the costs associated with establishing the tank farm and related project infrastructure. Namibia’s commitments at this stage are limited to the leasing of land north of Walvis Bay through the Namibian Ports Authority.
Negotiations between government and the Dangote Group are still ongoing, Mbuende said, and no indicative timelines have yet been finalised for feasibility studies, environmental impact assessments, construction or project completion.
“Once finalised and the full scope of the project is defined, timelines will be spelt out,” he said.
On infrastructure readiness, Mbuende said the proposed project has been designed around existing infrastructure at Walvis Bay, with routine maintenance planned to ensure long-term sustainability. He added that any additional upgrades that may be required would be addressed as the project progresses.
He said government remains committed to working closely with all relevant stakeholders and the Dangote Group to facilitate a conducive investment environment, while positioning Namibia as a competitive and attractive regional hub for logistics and economic development.
Nigerian billionaire Aliko Dangote has announced plans to construct a 2,000-kilometre fuel pipeline running from Namibia’s Walvis Bay, through Botswana, to Bulawayo in Zimbabwe.
