Namibia faces N$247 billion climate finance gap, requiring significant external funding
via The Namibian4 min read
Namibia is confronting a climate finance gap of US$15 billion approximately N$247.5 billion needed to meet its climate commitments by 2030. Of this total, only about US$1.5 billion N$24.8 billion is anticipated to be raised domestically, leaving roughly 90% dependent on external funding. This shortfall was a key topic at a sustainable finance engagement hosted by the Bank of Namibia and RMB Namibia. Deputy governor Leonie Dunn emphasized the urgency of financing due to Namibia's high vulnerability to climate risks, which are already impacting productivity and livelihoods. Stakeholders noted that a major challenge is not just the availability of capital, but also the lack of bankable projects that can attract private investment. Louise Brown of Triple Capital highlighted the difficulty in financing adaptation projects, which often lack clear commercial returns and rely heavily on public funding despite their importance for economic resilience. Tshepo Ntsane of RMB suggested that Namibia has strong potential to attract both domestic and international capital, particularly for transition finance aimed at decarbonizing carbon-intensive sectors. However, this requires stronger policy alignment, institutional credibility, and investment-ready frameworks to build investor confidence. Erich Gariseb of the Namibia Financial Institutions Supervisory Authority added that climate change poses a systemic risk to financial stability, necessitating coordinated action across the sector.
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This summary was AI-generated from a story originally published by The Namibian.
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