Chamwe Kaira
The One Economy Foundation holds a 5% loan-carried interest in the Etango Uranium Project, giving the Namibian empowerment entity a stake in one of the country’s largest proposed mining developments.
The interest was disclosed in Bannerman Energy Ltd’s Etango Strategic Financing Presentation, released as part of its strategic financing agreement with CNNC Group.
The project is held by Bannerman Mining Resources (Namibia) (Pty) Ltd. This entity is 95% owned by Bannerman Energy (UK) Ltd and 5% by the One Economy Foundation on a loan-carried basis.
Bannerman Energy (UK) Ltd is owned 55% by Bannerman Energy (Netherlands) BV and 45% by CNNC Overseas Limited.
Bannerman Energy (Netherlands) BV is a wholly owned subsidiary of Bannerman Energy Ltd, the Australian-listed company leading the Etango project.
CNNC Overseas Limited is wholly owned by China National Uranium Corporation, which is 69.9% owned by China National Nuclear Corporation, a Chinese state-owned nuclear energy group.
The 5% loan-carried structure allows the One Economy Foundation to participate in the project without making upfront capital contributions during development.
Under this arrangement, development costs linked to its share are funded by other shareholders and repaid later from project cash flows.
The Etango project is one of Namibia’s largest undeveloped uranium resources and forms part of the global nuclear fuel supply chain.
The ownership structure reflects a joint venture between Bannerman Energy and CNNC’s international arm, with local participation through the One Economy Foundation.
Former first lady Monica Geingos founded the One Economy Foundation in May 2016. The foundation is registered under the Namibian Companies Act as a Section 21 entity, an association not for gain. Geingos serves as its executive chairperson.
The foundation says Namibia has a dual economy, made up of middle- to high-income earners on one side and low-income individuals on the other.
The One Economy Foundation states that it aims to bridge this divide by creating pathways to equality and shared prosperity and building an economy where everyone has the opportunity to thrive.
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Former first lady Monica Geingos founded the One Economy Foundation in 2016 and serves as its executive chairperson.
