Staff Writer
Paragon Investment Holdings (Pty) Ltd has formally expressed interest in acquiring the 10.2% equity stake in Rössing Uranium Limited currently held by the Industrial Development Corporation of South Africa (IDC), a move analysts say marks a significant milestone for the company and for Namibia’s growing role in strategic mineral ownership.
The IDC, one of the founding shareholders of Rössing Uranium since the 1970s, recently issued a call for expressions of interest (EOI) from potential buyers for its 10.2% equity stake. According to the IDC, the sale is part of its normal investment cycle, having reached its investment horizon in the business. Interested parties were required to submit comprehensive EOIs outlining their company background, strategic rationale, financial capacity, and alignment with development objectives by 27 February 2026.
Rössing Uranium, located in western Namibia, is one of the world’s largest and longest-running open-pit uranium mines. The mine has contributed significantly to Namibia’s economy and the global uranium supply for nearly five decades, underpinned by its large resource base, established infrastructure, and strategic importance in the nuclear energy market.
Paragon Investment Holdings, a diversified Namibian-owned investment company with operations across Namibia, Zambia, and Zimbabwe, announced its interest in the stake as part of a broader strategy to strengthen local participation in strategic mineral and industrial assets. The group’s interests span multiple sectors, including oil and gas exploration, diamond mining, aviation support services, property development, travel retail, food production and media and marketing.
“Our interest in Rössing Uranium reflects Paragon’s strategic foresight and commitment to participate meaningfully in Namibia’s natural resource economy,” said Paragon Executive Director Desmond Amunyela. “Strategic equity participation in such assets will strengthen the ability of local companies to contribute to national development through value addition, innovation, skills development, and employment creation.”
Amunyela noted that Namibia has the potential to emulate smaller nations that have achieved global influence through investment in local skills, innovation, and domestic industrial capacity, stressing that greater local private sector participation in strategic mineral assets is key to national economic sovereignty.
Industry observers have described Paragon’s move as a historic milestone for the company, which has steadily expanded its presence in sectors linked to Namibia’s resource economy. Securing a stake in Rössing Uranium would not only deepen Paragon’s portfolio but also signal a growing confidence in local capital participating in nationally strategic industries.
Paragon emphasised that the process remains subject to IDC evaluation, and further details will be released in due course.
Founded and headquartered in Windhoek, Paragon Investment Holdings (Pty) Ltd is a Namibian-owned private equity company with a diversified portfolio across Namibia, Zambia, and Zimbabwe. The group maintains investments in natural resources, aviation services, property development, travel retail, food production, and media.
