Katti’s windfall to fund Unam Walvis campus

Knowledge Katti’s latest oil deal is set to funnel N$10 million into a university campus in his hometown of Walvis Bay, turning proceeds from Namibia’s emerging petroleum industry into a major education investment.The contribution is tied to a deal that will see Katti’s oil and gas company Custos’ wholly owned subsidiary, Trago Energy, transfer its 10% participating interest in Petroleum Exploration Licence 90 (PEL 90) to Chevron affiliate Harmattan Energy Limited.Custos will receive US$11 million, or about N$182 million in cash, upon completion of the transaction, with further contingent consideration linked to appraisal and production milestones.The company said the future consideration includes revenues associated with commercial production currently estimated at between 1.5 million and 2.5 million barrels of oil, depending on commodity price assumptions.The transaction, however, remains subject to government, regulatory and third-party approvals. Katti, Custos’ chairman and chief executive officer, said the deal allows the Namibian company to retain exposure to PEL 90’s potential while reducing its funding and capital risk.But a portion of the deal’s eventual proceeds is now set to flow into an education project designed to bring university-level maritime and industry training to the coast. Katti, who is from Walvis Bay, said in a recent social media post:“My Kuku would have been proud, as I’m honoured to share that we will contribute N$10 million towards the construction of the first Unam campus in Walvis Bay, my hometown where it all started (as soon as the transaction closes)."He added: “Education is key, and by bringing the university closer to the industry, we give our young people from all over Namibia the chance to learn, build the skills needed and take ownership of their future.”Campus takes shapeThe N$10 million pledge will be made through the Knowledge Katti Foundation once the Custos-Chevron transaction has closed and the required approvals have been secured.University of Namibia (Unam) spokesperson Simon Namesho confirmed that the university has been in discussions with Katti and is aware of the pledge.The university has already identified a plot for the campus and has met with the Walvis Bay municipality.Unam expects the municipality’s formal confirmation of the land by around 9 October, Namesho said, after which design and construction, with infrastructure partner CMB Tech, are expected to begin.The planned campus will house Unam’s school of maritime science and engineering, with departments covering navigation, marine engineering, and safety, health and environment. Unam has approved two degrees for the school, Namesho said – a bachelor of science in maritime navigation and a bachelor of science in marine engineering (honours).Unam vice chancellor Professor Kenneth Matengu said the contribution brings the university closer to a campus where students can train alongside the industries they will eventually serve. “This pledge brings us closer to a Unam campus where students can train within sight of the ports and industries they will one day serve.”The Knowledge Katti Foundation has already sponsored more than 120 Namibian students over the past two decades. Katti said the latest contribution builds on that legacy. “This one is for HOME.”-desmarius@nma.com.na

Katti’s windfall to fund Unam Walvis campus

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Namibian Sun 2026-10-05

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Katti’s windfall to fund Unam Walvis campus

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Namibian Sun 2026-10-05

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