bold, balanced path
The recent warning from the Chamber of Mines about “growing risks” to Namibia’s mining sector due to policy uncertainty, particularly the proposal for 51% mandatory local ownership in new projects, deserves careful attention. The Chamber is right on one key point: investor confidence depends on a stable and predictable regulatory environment. But it is wrong to suggest that government proposals aimed at ensuring greater domestic participation should be viewed as threats rather than opportunities.
Namibia is not stepping into the unknown. Local ownership is not a radical or reckless concept; it is a globally recognised policy instrument used by sovereign nations to harness their natural resources for the benefit of their people. The real issue is not whether to implement local ownership requirements, it is how to do so transparently, fairly, and with strategic foresight.
The Chamber’s concerns: A case for clarity, not concession
To begin with, the Chamber of Mines raises valid concerns about uncertainty. Policy vacuums and ambiguous implementation timelines do little to inspire investor confidence. In a capital-intensive sector such as mining, where project lifespans stretch into decades, clarity and consistency are vital. Namibia’s reputation as one of Africa’s most attractive mining jurisdictions has been built on this very stability.
But the Chamber’s statement also risks veering into the territory of veiled economic coercion. The implied threat—that any move toward mandatory local ownership would “undermine” Namibia’s attractiveness, can be interpreted as an attempt to strong-arm the government into silence on a matter of national interest. That must not be allowed. No sovereign nation should be held hostage to investment blackmail.
The case for local ownership: It has been done before
Namibia has already demonstrated its capacity to roll out local ownership reforms successfully. The 2017 policy directive in the ICT sector, which mandated 51% local ownership in telecommunications companies, was met with initial resistance. Yet the government held firm. Today, that policy has not only been absorbed by the sector but has opened opportunities for Namibians to play a more meaningful role in the digital economy.
Mining should be no different. It is inconceivable that a country so rich in uranium, copper, gold, and critical minerals continues to derive disproportionately little benefit from the exploitation of its resources. Local ownership is one of the most direct means of correcting this imbalance; not only in terms of wealth redistribution but also in terms of skills development, technological transfer, and enterprise participation.
Lessons from Africa and beyond
Namibia is not alone in grappling with this issue. Across Africa, countries have taken proactive steps to ensure that their citizens gain real value from mining and natural resources. In Ghana, local content laws require mining companies to source certain goods and services locally and to partner with local firms. Botswana, often cited as a continental success story, negotiated a 50-50 joint venture with De Beers that has allowed it to retain meaningful control over its diamond wealth.
Even outside Africa, resource-rich countries have recognised the strategic value of domestic participation. The United Arab Emirates (UAE), for example, mandates significant local ownership across various sectors, including energy. The UAE didn’t get there by accident, it did so through long-term policy planning, strategic state partnerships, and firm political will. The result is a diversified, locally empowered economy where foreign investment supports national goals rather than dictating them.
A balanced model for Namibia
What Namibia needs is not to abandon the idea of local ownership but to refine its approach. It is not unreasonable for investors to expect predictability. The government should therefore move quickly to issue a white paper or formal policy framework that outlines its vision for local ownership in mining, how it will be implemented, phased, monitored, and enforced. This should include incentives for early adopters, flexible models of equity participation, and support for financing mechanisms that allow Namibians to buy into projects meaningfully, not just symbolically.
The government might also consider sector-specific thresholds.
Not all minerals are created equal in terms of strategic value. It may be prudent to insist on higher local ownership thresholds for uranium and battery minerals given their relevance to the energy transition and national security, while adopting more flexible models for lower-impact commodities.
Moreover, there is room for public-private partnerships in structuring ownership. Namibian state-owned entities, such as Epangelo Mining, could take a more active role in acquiring and managing stakes on behalf of the nation, thereby professionalising and depoliticising the process.
A test of political will
The push for local ownership in the mining sector will be a test of Namibia’s political maturity. It will require navigating vested interests, resisting external pressure, and communicating policy intentions clearly and consistently. But more importantly, it will require a firm commitment to national self-determination.
Foreign investment is not charity. It comes in pursuit of profit, and rightly so. But Namibia is not obliged to accept a raw deal simply to remain in investors’ good graces. The challenge is to structure partnerships that are win-win, not win-lose.
Yes, regulatory clarity is essential. But clarity must not come at the expense of sovereignty. The government must not allow itself to be bullied into abandoning a transformative policy simply to appease market actors. At the same time, it must demonstrate that it is capable of designing and implementing that policy in a way that promotes growth rather than stifling it.
A moment of truth
The Chamber of Mines has sounded the alarm. Now, the government must respond, not by retreating, but by refining. Namibia stands at a critical crossroads where the global demand for gold, uranium, copper, and battery minerals aligns with an urgent national need for inclusive economic participation.
Let us not waste this moment. The world is watching, yes, but so are Namibians.
