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Country Code: 516 | ISO2 Code: NA | ISO3 Code: NAM

Namibia is a geographically large country with a land mass of 823,290km2, a 1,500km-long coastline on the South Atlantic, a population of 2.6 million people and a GDP of US$12.1bn. It shares borders with Angola, Botswana, South Africa and Zambia. Namibia is rich in mineral resources, including diamonds and uranium.

In the late 19th century, the region was colonised by Germany as South West Africa, and resistance to German rule was followed by the genocide of Herero and Namaqua people between 1904 and 1907, for which Germany formally apologised in 2004. In 2023 Germany agreed to pay reparations of US$1.2bn over thirty years.

Namibia is a desert country and the driest country in sub-Saharan Africa. It is rich in wildlife and in northern Namibia, German scientists discovered a fresh-water aquifer 300 metres below the surface containing roughly 5 billion cubic metres of potable water, which estimates suggest could supply the north of the country for 400 years at current rates of consumption.
Key industries in Namibia are mining, tourism and agriculture. The economy grew by an estimated 3.8% in 2022 to reach US$12.1bn where the mining industry contributed 12.2% to GDP and 2.2% to employment in 2022 and accounted for 27.5% of export earnings in 2021.

In the last two years, oil exploration has uncovered oil and gas reserves of approximately 5 billion barrels in the Kavango and Orange Basins in northern Namibia, compared with the 7 billion barrels of reserves in Angola’s Cabinda region. The drilling and seismic data interpretations indicate a rift basin similar to that of the major oil-producing basins in the North Sea, and further discoveries are expected. Explorers in Namibia include Canada’s Recon Africa, Dutch oil company Shell, Qatar Energy and Norway’s BW Energy.

Namibia produces copper, diamonds, dimension stone, gold, iron ore, lead, limestone, lithium, manganese, salt, semi-precious stones, silver, tantalum, tin, uranium and zinc, and contains unexploited deposits of cobalt, fluorspar, graphite, nickel, phosphate, rare earth elements and vanadium.

Mining is the dominant economic activity particularly of diamonds and uranium, and contributes about 25% of export earnings, making GDP dependent on world commodity prices. Manufacturing and services, especially banking and tourism, are also important sectors as is wildlife conservation, which supports tourism and contributes to rural employment. Agriculture makes a small contribution to GDP, as it is mostly subsistence livestock raising, but it is an important livelihood activity for about half the population.

Namibia is Africa’s largest producer of uranium, second largest producer of salt, after Tunisia, the fourth largest producer of lead, after Nigeria, Morocco, and South Africa, the fourth largest producer of tin, after Democratic Republic of Congo (DRC), Nigeria and Rwanda; and the fourth largest producer of zinc, after South Africa, Eritrea, and Burkina Faso.

Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.

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Sector Research

CompanyName Stock Exchange Listed Date Ticker Code Country Status
Alpha Namibia Industries Renewable Power Ltd Namibia Stock Exchange 2019-07-11 ANA Namibia Active
B2Gold Corporation Namibia Stock Exchange 2012-00-00 B2G Namibia Active
Bannerman Energy Ltd Namibia Stock Exchange 2008-04-00 BAN Namibia Active
Capricorn Group Ltd Namibia Stock Exchange 2013-06-20 Namibia Active
FirstRand Namibia Ltd Namibia Stock Exchange FNB Namibia Active
Letshego Holdings (Namibia) Ltd Namibia Stock Exchange 2017-09-28 LHN Namibia Active
MCUBE Investments One Ltd Namibia Stock Exchange 2020-07-31 MQA Namibia Active
Mobile Telecommunications Ltd Namibia Stock Exchange 2021-11-19 MOC Namibia Active
Namibia Asset Management Ltd Namibia Stock Exchange 1998-07-00 NAM Namibia Active
Namibia Breweries Ltd Namibia Stock Exchange 1996-05-00 NBL Namibia Active
Nictus Holdings Ltd Namibia Stock Exchange 2013-00-00 NHL Namibia Active
Omajowa Properties Ltd Namibia Stock Exchange 2020-07-31 OMJ Namibia Active
Oryx Properties Ltd Namibia Stock Exchange ORY Namibia Active
Osino Resources Corp. Namibia Stock Exchange 2023-08-29 OSN Namibia Active
Paratus Namibia Holdings Ltd Namibia Stock Exchange 2017-10-06 PNH Namibia Active
SBN Holdings Ltd Namibia Stock Exchange 2019-11-15 SBN Namibia Active
Stimulus Investments Ltd Namibia Stock Exchange SILP Namibia Active
The Mining Sector in Namibia 2023

The Mining Sector in Namibia

Full Report R 20 000.00(ZAR) estimated $ 1048.98 (USD)*

Industry Landscape R 14 000.00(ZAR) estimated $ 734.29 (USD)*