The extractive industries are crucial to Namibia. They form major share of our GDP and account for a significant proportion of foreign exchange earnings and tax revenue every year. But our extractives — minerals, fish, and maybe even oil — are not infinite. So we have to ask whether their extraction is being governed transparently and in the best interest of the people.
This report outlines the legislative framework governing who may extract resources, and highlights some weaknesses and potential for abuse. Specifically, it looks at the issue of beneficial ownership, and the difficulties of establishing who actually benefits from owning Namibian resources – a troublesome hindrance to transparency in the sector.