Govt pushes convention centre amid investor concerns

Government has reaffirmed a proposed national convention centre as a strategic priority even as the Namibia Industrial Development Agency’s (Nida's) investment committee raises concerns about the track record of the UK company seeking to develop the project.Nida acting chief executive officer Phillip Namundjebo told Namibian Sun “the government of Namibia has publicly endorsed the establishment of a national convention centre as a strategic national priority”.He added that in a letter dated 20 July, the industries, mines and energy ministry reaffirmed government’s commitment to the project, and emphasised “the need for timely implementation”.Namibian Sun could not verify Namundjebo's statement with minister Modestus Amutse, who is currently outside the country.Pantum Groups Ltd, a UK-registered company headed by Festus Mansaray, submitted the proposal to Nida to develop a convention centre, a luxury hotel and up to a 40 000-seat football stadium in Windhoek under the name Pantum Namibia Plaza.Documents obtained by Namibian Sun show the proposed development would include a 5 000-delegate convention centre, a 300-room five-star hotel, 100 luxury serviced apartments and 36 villas.The proposal also includes offices, retail facilities, restaurants, a casino, a private members’ club, a spa and a gym.A second phase envisages a 30 000- to 40 000-seat multipurpose football stadium, training pitches, an African football museum, a soccer school and an elite football academy.Government’s renewed support for a national convention centre does not, however, amount to approval of Pantum’s proposal, Namundjebo said.He stressed that no memorandum of understanding, joint-venture agreement or land lease had been concluded with the company.Pantum’s record under scrutinyNida investment committee chairperson Thaddius Maswahu said the committee rejected the proposal earlier this year because Pantum had not demonstrated a record of completing projects of comparable scale.“It is true that the proposal was rejected on the basis of the absence of a track record. This happened sometime early this year,” Maswahu said.He said Pantum’s owners "wanted to come and do a presentation after submission of the proposal, but the board said it should go through the investment committee first".Maswahu added: “Some of our concerns were: show us similar projects you have done. And so we had to do due diligence and scan all of these before we agree to it."Namundjebo described the committee’s position differently, saying it had requested further information rather than rejected the proposal.“The Pantum proposal was subjected to Nida’s standard investment governance procedures, which include a multi-layered due-diligence process," he explained."During the investment committee’s consideration of the proposal, the committee requested more information,” he added.Namundjebo said prospective Nida partners must demonstrate “technical capacity, financial capability and a verifiable history of delivering projects of comparable scale".New model consideredFormer acting chief executive officer Richwell Lukonga informed Mansaray in a letter dated 7 May 2025 that Nida had reconsidered its approach and would not proceed with the proposed relationship.Lukonga said the agency had decided to return “to the drawing board” and restart the process “from scratch”.“Nida does not intend to proceed with the business engagement and/or relationship with the F&amp;A Group Investments on the Pantum Namibia Plaza Project as regards the development of an international convention centre," Lukonga wrote.The available documents refer to both Pantum Group and F&amp;A Group Investments but do not clearly explain the relationship between the two entities.Six months after Lukonga told Pantum that Nida would not proceed with the proposed relationship, Namundjebo said Nida was willing to reopen discussions under a joint-venture model.“Nida herewith conveys its willingness to collaborate with the Pantum Group via a joint venture model to realise the development of a national convention centre and a national football stadium in Windhoek,” Namundjebo wrote in a letter dated 13 November 2025.The letter confirmed that Nida had land that could potentially accommodate the development, although it did not identify the property, its size or value.“Nida does have the required land for the development, the terms and conditions upon which the land will be availed to the JV will need to be discussed and agreed upon,” Namundjebo wrote.He then invited Pantum to submit an agreement intended to advance the proposed collaboration.“Kindly provide Nida with a draft memorandum of understanding in respect of this exciting venture,” the letter stated.Exploring projectNamundjebo now says the letter represented preliminary engagement and did not constitute approval or a binding commitment.“The letter issued on 13 November 2025 was part of early exploratory engagement and did not constitute project approval,” he said.“It was issued before the investment committee concluded its assessment,” he added.Namundjebo added that “the letter confirmed Nida’s willingness to explore collaboration through a joint venture, verified that land could be made available subject to governance processes, and requested Pantum to prepare a draft memorandum of understanding (MoU) for review.”He stressed that at the time, no investment committee approval or board approval had been granted.“The letter was therefore a preliminary communication intended to outline the conditions under which Nida could consider the proposal, including the requirement for Pantum to submit a draft MoU and additional due diligence documentation.”Nida offered 49% interestIn the documents examined by Namibian Sun, Pantum describes the proposed development as an integrated hotel, convention centre and football complex requiring at least 20 acres (roughly 8 hectares) of land in Windhoek.The company proposed that Nida become an equity partner rather than merely provide the land. Pantum and other investors would hold 51% of the convention centre company, while Nida would own 49%.Ownership of the other businesses would vary, with Nida potentially holding between zero and 24%, while some operating companies would remain entirely privately owned.Pantum proposed leasing the land from Nida at a commercial rate.“The land will not be received as a free gift. Pantum will pay Nida the commercial value of the land as a lease,” the proposal states.The company also proposed raising funding through project-finance arrangements without requiring the Namibian government to guarantee the investment.It said the project would remain outside the government’s balance sheet and require “no government support or sovereign guarantee”.The proposal does not disclose the estimated development cost, identify committed financiers or provide evidence that funding has been secured. It also does not explain how Pantum would finance its equity contribution or the project’s early development costs.International names listedPantum’s proposal identifies Indian engineering and construction conglomerate Shapoorji Pallonji as the proposed design-and-build contractor, Marriott as the proposed hotel operator and Manchester City Football Club as the proposed football partner.Pantum presents itself as a UK-registered company “owned by Africans in Africa and the diaspora” and attributes experience in real estate, corporate finance, engineering and investment to its management team.The proposal names Mansaray as managing director, Keith Aki-Sawyerr as development director and former professional footballer Eyong Enoh as sports director.UK company records show that Aki-Sawyerr, Enoh and Jefferson Ocran ceased serving as Pantum directors in January 2026, several months after Nida indicated its willingness to explore the partnership.It remains unclear whether they continue to be involved with Pantum or the proposed Windhoek project in other capacities.The proposal does not identify any convention centre, stadium or integrated development of comparable scale previously completed by Pantum, which is the gap Maswahu said concerned the investment committee.Namundjebo said the project could create an estimated 4 500 construction jobs and 2 300 permanent positions while supporting Namibia’s ambitions in conference and sports tourism.“But no MoU has been signed. No joint-venture agreement has been executed and no land lease agreement has been concluded,” Namundjebo said.

Govt pushes convention centre amid investor concerns

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Namibian Sun 2026-08-28

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Govt pushes convention centre amid investor concerns

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Namibian Sun 2026-08-28

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