In its Oct 22, 2026 mid-year review Namibia cut its revenue outlook on weak mining and raised the budget by about N$700 million (N$87.9bn to N$88.6bn), with public debt projected at N$201.7 billion. Final investment decisions on green hydrogen (Hyphen) and the offshore Venus oil field are delayed, while land and petroleum bills are contested.
What a Korean company can do now
- Korean support you can useKorea-Africa AI Hub and K-AI Package · Ministry of Economy and Finance / AfDB
- Promising business opportunitySupport for the medium-term revenue strategy and automated tax data analytics
- Where the government is spendingFY2026/27 mid-year budget review · N$88.6 billion (revised)
Government · leader
President Netumbo Nandi-Ndaitwah (since Mar 2025) / Vice President Lucia Witbooi / Prime Minister Elijah Ngurare
Key national agenda
- Fiscal health: medium-term revenue and debt management strategies (before Feb 2027)
- Green hydrogen (Hyphen, 24% state stake) and offshore oil (Venus)
- Consolidated land law and a ban on foreign land acquisition
- Moving the upstream petroleum unit to the Presidency (petroleum amendment bill)
- Farm support including foot-and-mouth control and drought preparedness
- Leaner government: ministries cut from 21 to 14
Government programmes
FY2026/27 mid-year budget reviewN$88.6 billion (revised)
Budget raised from N$87.9bn to N$88.6bn (needs Parliament's approval); net revenue N$42.4bn to end-Sep (51.4% of target); review of VAT zero-rating on sugar
Hyphen green hydrogen project
Final investment decision moved to end-2027; up to 15,000 construction and 3,000 permanent jobs forecast
TotalEnergies Venus offshore oil field
Target 160,000 barrels a day; no final investment decision as of late Oct 2026, terms under negotiation
Ruacana South Water Supply Project Phase 1
AfDB-funded Namibia Water Sector Support Programme; bulk pipelines, reservoirs and meter installation works
Ohangwena Aquifer climate-resilient water supply (north)
German KfW/BMZ grant; prequalification of a multidisciplinary consultant (closed Jul 2026)
German development aid agreement
EUR 1.1 billion offered over 30 years; a High Court challenge is ongoing
Business opportunities
Support for the medium-term revenue strategy and automated tax data analytics
🔒 Why-now and buyers — analysis member ₩19,800/mo
Public procurement and budget execution monitoring dashboard
🔒 Why-now and buyers — analysis member ₩19,800/mo
Open this week
Matching consulting for local and Korean SMEs to join the green hydrogen supply chain
Hyphen promises large construction jobs and procurement, and the pre-FID period gives time to prepare.
Local SMEs, Korean equipment suppliers
Livestock disease tracking and control management system
🔒 Why-now and buyers — analysis member ₩19,800/mo
Free members get a human-reviewed summary by email for up to 3 countries a month (sent within 24h). BUILD members get them all.
Tenders
- Bulk pipelines, reservoirs and manifold meter installations for Ruacana South Water Supply Phase 1 · Namibia Water Corporation (NamWater), AfDB financed · Deadline 2026-11-03
- Call for an external collaborator: local social security actuary · ILO · Deadline 2026-11-03
- Security (guarding) services for Omusati Regional Council · Omusati Regional Council · Deadline 2026-11-04
Korean support schemes
- Korea-Africa AI Hub and K-AI Package · Ministry of Economy and Finance / AfDB — A framework for EDCF-linked AI, data centre and power cooperation; no Namibia-specific project was confirmed.
- KOTRA Southern Africa market entry support · KOTRA — Market research and buyer matching through the covering trade office (the office covering Namibia still needs confirming).
- Export Voucher programme · Ministry of Trade, Industry and Energy / Ministry of SMEs and Startups — Vouchers cover market research, certification and local marketing costs to prepare market entry.
Official notices
Namibia Ministry of Finance and Public Enterprises
- 2026-10-22 Finance Minister Shafudah tabled the FY2026/27 mid-year review (budget up N$700m, debt seen at N$201.7bn)
- 2026-10-22 Medium-term revenue and debt management strategies promised before Feb 2027
- 2026-10-31 Tax Amnesty Programme scheduled to end
- Bid notices, evaluations and awards published on the ministry's digital procurement system (undated)
Disaster · conflict · epidemic
Stable 2026-11-07
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