As part of the Arab Bank for Economic Development in Africa (BADEA)’s mission…

As part of the Arab Bank for Economic Development in Africa (BADEA)’s mission to the Republic of Namibia, and in efforts to strengthen the partnership in support of development priorities, a BADEA delegation led by H.E. Mr. Abdullah KH ALMUSAIBEEH, President of the Bank, met with H.E. Mr. Ebson Uanguta, Governor of the Central Bank of Namibia, and his team.

During the meeting, H.E. the Governor outlined the key drivers of Namibia’s economy, noting that the mining sector—particularly uranium extraction in recent years—remains the primary engine of growth, alongside tourism. He also highlighted positive developments in the agricultural sector, especially in date and grape production, as well as promising discoveries in the oil and gas sector.

H.E. the Governor further noted that Namibia has recently established a sovereign wealth fund to manage future revenues from natural resources, ensuring fiscal sustainability and optimal utilization of these resources.

In this context, H.E. the Governor expressed Namibia’s interest in strengthening cooperation with BADEA in attracting investments, particularly from the Arab region. He also inquired about the Bank’s ability to support the development and mobilization of financing through Islamic finance instruments, as an alternative to conventional financing, particularly given their advantages in risk management.

For its part, BADEA reaffirmed its readiness to support Namibia’s efforts in attracting investment and expressed its willingness to connect the country with specialized expertise to develop Islamic finance products, as well as to mobilize financing through various instruments.

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