Govt distances itself from unsolicited funding deals

The finance ministry has warned that the Namibian government does not borrow money for infrastructure projects through unsolicited proposals submitted by individuals, private companies or agents claiming to represent investors.

In a statement issued this week, the ministry said it has recently received numerous funding proposals from private entities and intermediaries offering to finance government projects on behalf of foreign or local investors.

The ministry acknowledged that such proposals present potential opportunities for national development, particularly for infrastructure financing. However, it stressed that all borrowing and project funding arrangements must follow strict legal and procurement procedures.

The clarification comes amid growing reports of private brokers and companies approaching government offices with offers to secure billions in funding for infrastructure projects.

-STAFF REPORTER