Who is negotiating Namibia’s resource deals? – Aupindi asks
Swapo parliamentarian Tobie Aupindi has once again taken aim at the country’s economic structure—this time criticising the government’s minority shareholding in key mining operations, calling it “voodoo economics” and questioning who is negotiating deals on behalf of Namibia.
Speaking in parliament last week, Aupindi argued that the financial arrangements governing Namibia’s extractive industries are disadvantageous to the state, and pointed to what he views as a broader failure to align natural resource deals with national development goals.
“I mean, who are these people who are negotiating these deals?” he asked.
“This I'm telling you, this is voodoo economics.”
‘Voodoo economics’ is a phrase coined by former U.S. president George H. W. Bush to criticise Ronald Reagan’s economic policies, which prioritised tax cuts and deregulation in hopes of stimulating growth.
Foreign dominance in local mines
Aupindi highlighted specific examples to underscore his point, including the Navachab Gold Mine in the Erongo Region, where the government holds a mere 6.2% share through Epangelo Mining, a purchased, not carried, stake. The rest is owned by a Polish conglomerate.
He also referenced the Husab uranium mine - one of the largest in the world - where Namibia, again through Epangelo, owns just 10%, with the remaining 90% controlled by a Chinese corporation.
Aupindi argued that such minimal stakes limit Namibia’s ability to benefit meaningfully from its miner-al wealth.
“The government’s stakes in major mining operations are too small. Majority ownership rests with foreign entities, and that restricts our ability to leverage these resources for national development,” he said.
Structural gaps
He went further, saying Namibia’s broader economic structures and negotiation frameworks do not serve the country’s strategic interests, especially in emerging sectors such as oil and gas.
“Even if you look at the oil and gas sector... in terms of structure, regulation, and laws, we are not ready,” he said.
“The oil community already has mechanisms built over the last 100 years to respond to market demands - most of which do not favour our national interests.”
Aupindi called for a paradigm shift, saying that while past economic policies may have prioritised sta-bility post-independence, the time has come to restructure how natural resources are governed and shared.
“It must be understood without contradiction that freedom and independence are intertwined with eco-nomic ownership by the Namibian people,” he said.
“The aim was to gain independence from colonial subjugation and economic oppression.”
“It’s true that during the transition from apartheid to independence, the priority was to stabilise a fragile economy and ensure national security. But as we progress, we see that there’s room for improvement - especially when it comes to natural resources.”
A call to act
Referencing President Netumbo Nandi-Ndaitwah’s statement that “we are too few to be poor,” Aupindi said this was a call to action.
“She realises that some things can be made right. I do agree that when an economic system drifts too far to the right and leaves too many behind, it’s time to ask whether we’re on the right path,” he said.
“Change must happen.”
Aupindi's remarks come amid rising public concern about whether Namibia is adequately positioned to benefit from the extraction of its vast mineral and energy resources. - [email protected]
Speaking in parliament last week, Aupindi argued that the financial arrangements governing Namibia’s extractive industries are disadvantageous to the state, and pointed to what he views as a broader failure to align natural resource deals with national development goals.
“I mean, who are these people who are negotiating these deals?” he asked.
“This I'm telling you, this is voodoo economics.”
‘Voodoo economics’ is a phrase coined by former U.S. president George H. W. Bush to criticise Ronald Reagan’s economic policies, which prioritised tax cuts and deregulation in hopes of stimulating growth.
Foreign dominance in local mines
Aupindi highlighted specific examples to underscore his point, including the Navachab Gold Mine in the Erongo Region, where the government holds a mere 6.2% share through Epangelo Mining, a purchased, not carried, stake. The rest is owned by a Polish conglomerate.
He also referenced the Husab uranium mine - one of the largest in the world - where Namibia, again through Epangelo, owns just 10%, with the remaining 90% controlled by a Chinese corporation.
Aupindi argued that such minimal stakes limit Namibia’s ability to benefit meaningfully from its miner-al wealth.
“The government’s stakes in major mining operations are too small. Majority ownership rests with foreign entities, and that restricts our ability to leverage these resources for national development,” he said.
Structural gaps
He went further, saying Namibia’s broader economic structures and negotiation frameworks do not serve the country’s strategic interests, especially in emerging sectors such as oil and gas.
“Even if you look at the oil and gas sector... in terms of structure, regulation, and laws, we are not ready,” he said.
“The oil community already has mechanisms built over the last 100 years to respond to market demands - most of which do not favour our national interests.”
Aupindi called for a paradigm shift, saying that while past economic policies may have prioritised sta-bility post-independence, the time has come to restructure how natural resources are governed and shared.
“It must be understood without contradiction that freedom and independence are intertwined with eco-nomic ownership by the Namibian people,” he said.
“The aim was to gain independence from colonial subjugation and economic oppression.”
“It’s true that during the transition from apartheid to independence, the priority was to stabilise a fragile economy and ensure national security. But as we progress, we see that there’s room for improvement - especially when it comes to natural resources.”
A call to act
Referencing President Netumbo Nandi-Ndaitwah’s statement that “we are too few to be poor,” Aupindi said this was a call to action.
“She realises that some things can be made right. I do agree that when an economic system drifts too far to the right and leaves too many behind, it’s time to ask whether we’re on the right path,” he said.
“Change must happen.”
Aupindi's remarks come amid rising public concern about whether Namibia is adequately positioned to benefit from the extraction of its vast mineral and energy resources. - [email protected]
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