Namibia, a country in southwestern Africa with a population of about 3 million, has in recent years become one of the most attractive destinations on the continent’s investment map. With a GDP of approximately 30 billion dollars and a per capita income of around 11 thousand dollars, the country demonstrates steady economic growth, largely thanks to its exceptionally rich mineral resources.
Namibia’s mineral resource base is striking in its diversity. The country is the world’s third-largest producer of uranium and is capable of meeting up to 10% of global demand for nuclear fuel. In addition to uranium, Namibia’s subsoil contains diamonds, gold, zinc, and copper, as well as a wide range of metals critical to the energy transition: lithium, graphite, tantalum, cobalt, and others. In recent years, lithium projects have been developing actively in the country — the Karibib Lithium Project (with estimated reserves of 773 thousand tons) and the Uis Lithium Project, where a pilot plant for the production of lithium concentrate has already been launched. The Lofdal Heavy Rare Earths Project, being developed jointly with Japan’s JOGMEC, is aimed at extracting heavy rare earth metals — dysprosium and terbium — used in the production of permanent magnets for electric vehicles and wind turbines.
Recent discoveries of major oil and gas fields in the Orange Basin (the Venus project of TotalEnergies and the Mopane project of Portugal’s Galp) promise Namibia the status of a new energy power. Furthermore, in the northeast of the country, ReconAfrica has confirmed the presence of hydrocarbons onshore. The first commercial volumes of oil are expected to be obtained by 2029–2030.
A key project of current cooperation with the Russian Federation is the activity of Rosatom, which plans to complete exploration of uranium deposits in Namibia as early as 2026, with a view to launching commercial production in 2029. It is against this background that the Russia–Namibia Business Forum opened in Windhoek, intended to translate political friendship into practical investment.
The Forum was co-organized by the Ministry of International Relations and Trade of Namibia, the Namibia Investment Promotion and Development Board (NIPDB), the Namibia Chamber of Commerce and Industry (NCCI), JSC Far East and Arctic Development Corporation, and the Roscongress Foundation, with the support of the Ministry of Economic Development of the Russian Federation.
The Forum was opened by Namibia’s Deputy Minister of International Relations and Cooperation, Jennelly Matundu. In her welcoming speech, she emphasized the special nature of relations between the two countries, recalling that “Namibia is a child of international solidarity,” and that its freedom became possible, among other things, thanks to the support of the USSR. However, she immediately moved on to a pragmatic agenda: the country has launched its Sixth National Development Plan (NDP6), which places emphasis on industrialization and value-added processing of raw materials. In this context, Russia is seen as an ideal partner.
But the most candid assessment was voiced by Namibia’s Minister of International Relations and Cooperation, Selma Ashipala-Musavyi, whose address became the central one at the plenary session:
«For decades, our countries have maintained strong diplomatic relations based on solidarity, mutual respect, and shared aspirations for development. I can state with complete confidence that the historical political relations between Namibia and the Russian Federation are strategic and unparalleled. However, the same cannot be said of our economic relations», – the Minister stated.
The figures confirmed her words: Namibia’s exports to Russia in 2024 amounted to a modest 13 million dollars (mainly fish and fruit), while imports from the Russian Federation reached 40 million dollars (predominantly fertilizers and grain). According to Russian data presented by Deputy Prime Minister Yury Trutnev, the overall trade turnover appears even more modest — around 18.4 million dollars. “And this is, of course, insufficient», – Mr. Trutnev stated.
The clearest signal to Russian business was the composition of the delegation from the Russian Federation. As Deputy Prime Minister Yury Trutnev noted, representatives of Rosatom, Rostec, Nordgold, Uralkali, and the key state development institution VEB.RF had arrived in Windhoek. Such a highly representative mission from heavy industry indicates that Namibia is of interest to Moscow primarily as a storehouse of mineral resources.
«The north is rich in uranium, the center in gold and lithium, and the south in rare earth metals. Namibia is ready to offer access to these resources, but on one condition. Our Sixth National Development Plan places emphasis on increasing the level of processing and beneficiation of these critical minerals», – stressed Jessica Hawanga Hawanga, Acting Chief Executive Officer of the Namibia Investment Promotion and Development Board. This means that Windhoek expects from Moscow not merely investment in extraction, but the establishment of joint ventures for the production of higher value-added products. Namibia has already introduced a ban on the export of unprocessed lithium, seeking to stimulate the creation of domestic processing industries. The foundation for such cooperation already exists. Ms. Hawanga recalled that Uranium One, Rosatom, and VTB Capital are already operating within the Namibian jurisdiction, and these projects are regarded as successful cases for scaling up.
Deputy Chairman of VEB.RF Artem Dovlatov announced the creation of a special investment mechanism for Namibia. According to him, the Russian development institution is prepared to finance projects involving the African side (up to 100 million dollars or 25%) on preferential terms: a repayment period of 10 years and an annual commission rate of 5%.
«Russian business is ready and willing to share with our Namibian partners solutions in those areas where Russia has achieved well-known results, including energy and mining», – Mr. Dovlatov stated.
If mining is the locomotive of cooperation today, then education should become the foundation of tomorrow. And here, what was voiced was not merely declarations, but concrete figures and programmatic statements.
Deputy Prime Minister Yury Trutnev outlined the strategic direction: personnel training must go hand in hand with the development of key sectors of the economy:
«I am confident that we will be able to find opportunities for cooperation in the fields of high technology, mining, oil and gas chemistry, finance, and science. Russia is ready to train engineers, technologists, and managers for Namibia, precisely for those sectors that will become the driving forces of joint investment. The Government of the Russian Federation will provide every possible support for this work».
Following the conclusion of the official opening ceremony, the Forum continued in the format of panel discussions. The central one was: “Russia–Namibia: Optimizing Potential in Energy and Mining”.
It was within the framework of this session that Vice-Rector for International Affairs of Empress Catherine II Saint Petersburg Mining University, Evgeniy Lyubin, presented the university’s capabilities in training engineering personnel for Namibia’s mining industry:
«The successful implementation of ambitious plans to build beneficiation plants and enterprises for deep processing of raw materials is impossible without creating a system for training local specialists—geologists, mine surveyors, mining engineers, and metallurgists. The Mining University, possessing unique experience in cooperation with resource-based economies, is ready to become a core center for such training, including the organization of internships and advanced professional development programs for Namibian specialists».
Mr. Lyubin noted the university’s deep engagement in cooperation with the continent. In 2023, on the sidelines of the Russia–Africa Summit, the Nedra Africa Consortium was established. In 2025, the first Russian-African Raw Materials Dialogue was held. The speaker noted that the Namibian delegation took a very active part in the summit. Among those who came to Saint Petersburg were Namibia’s Ambassador to Russia, Ms. Nashandi Monica Ndiliavike, and Professor Kenneth Matengu, Rector of the University of Namibia. The Second Dialogue will take place in October 2026, and those gathered were invited to attend.
«Our university has long been working with Namibia in a consistent and systematic way. Students from your country are studying with us. We implemented a visiting professor program — for three consecutive years, our lecturers traveled to Namibia to deliver lectures. During the pandemic, we organized remote summer schools for UNAM students. At present, the university is implementing an English-language MBA program for the advanced training of current employees of ministries and companies from African countries. Its theme is Management of Subsoil Use Facilities. In essence, this is the preparation of a managerial talent pool for Africa’s mineral resources complex. Today, 19 people from 8 countries are enrolled in the program.
We can go further and organize separate targeted programs tailored to Namibia’s needs. However, in our view, the most effective approach is full-scale training within the framework of the main educational programs.
Therefore, our proposal is to work through this issue at the state level so that motivated young people can be selected in Namibia, come to us, undergo this full training, become highly qualified specialists, and, most importantly, return home and work for the benefit of their country», - the speaker emphasized.
He also presented the university’s infrastructure capabilities, spoke about the progress of the Pilot Project for the Modernization of Engineering Education, and about the establishment—by decree of the President of the Russian Federation—of the National Center for Personnel and Scientific Support of the Mineral Resources Complex 'Corps of Mining Engineers' on the basis of the Mining University.
Concluding the plenary session, all speakers agreed on one point: this forum should become the starting point for a new stage in bilateral relations. Minister Selma Ashipala-Musavyi called on Russian investors to view Namibia not merely as a country rich in resources, but as a “strategic gateway” to the vast African market. The port of Walvis Bay Port provides access to the markets of Zambia, Botswana, Zimbabwe, and the Democratic Republic of the Congo:
«The true measure of success of this forum will be the partnerships that emerge from it and the projects that follow. Let us use this opportunity to move from dialogue to practical cooperation, investment commitments, and long-term partnerships that will bring shared prosperity», – the head of Namibia’s Ministry of International Relations and Cooperation concluded.
