Staff Writer
Namibia’s financial sector is increasing efforts to mobilise climate finance as stakeholders call for stronger collaboration to address funding gaps and climate risks.
The call came during a Namibia Sustainable Finance Alliance dialogue co-hosted by the Bank of Namibia (BoN) and Rand Merchant Bank. Policymakers, financial institutions and industry experts met to discuss ways to scale climate finance.
The alliance, launched in October 2025, aims to integrate sustainability and climate resilience into Namibia’s financial system.
FirstRand Namibia chief risk officer Teresa Louw said collaboration across sectors is key.
“These forums matter deeply because they convene diverse institutions, perspectives and expertise to tackle challenges that no single organisation can address alone,” she said.
BoN deputy governor Leonie Dunn said Namibia faces both climate risks and economic opportunities.
“As one of the most climate-vulnerable countries globally, the impacts of climate change are already affecting productivity, livelihoods and resilience across the economy,” Dunn said.
She said new opportunities in energy and industrialisation place pressure on the financial system to allocate funding responsibly.
Louise Brown of Triple Capital said climate finance still relies on public funding, with adaptation projects often overlooked due to long timelines and lower returns.
She said adaptation finance still offers opportunities for the private sector to manage long-term risks.
RMB sustainable finance and ESG advisory transactor Tshepo Ntsane said Namibia has the potential to attract local and international funding for its energy transition. He said “transition finance” can help reduce emissions in carbon-intensive sectors.
Namibia needs about US$15 billion to meet its climate targets by 2030.
Only about US$1.5 billion is expected to come from local sources, leaving most funding to be sourced externally.
Participants said there is a gap between available projects and their readiness for investment.
During a panel led by Bank of Namibia’s Naufiku Hamunime, speakers said improving project readiness is key to attracting private capital.
Erich Gariseb of the Namibia Financial Institutions Supervisory Authority (Namfisa) said climate change must be treated as a financial system risk.
Petrus Muteyauli from the Ministry of Environment, Forestry and Tourism said Namibia has strong solar and wind resources but noted that many adaptation projects do not generate direct income, leading the government to rely on grants.
Joachim Komeheke of Bank Windhoek said projects like irrigation are easier to finance due to clear income streams, while biodiversity and land restoration projects are harder to fund.
Meanwhile, Immanuel Kadhila of the Government Institutions Pension Fund (GIPF) said investors are willing to support climate finance but need structured projects with predictable returns.
