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.
Iran's World Cup squad has departed Turkey for Mexico, shadowed by a diplomatic disagreement with the United States concerning visa denials for some of the team's support staff. The dispute emerged just days before the June 11 start of the 2026 World Cup, co-hosted by the United States, Mexico, and Canada. The team left for Tijuana, Mexico, where they will be based for the tournament. While players received their US visas, Iran's embassy in Turkey stated that a significant number of managerial and executive staff were denied visas, prompting a strong reaction. The embassy accused the US of discriminatory treatment and called on FIFA to hold the US accountable. Iranian state TV reported that 15 administrative and management personnel did not receive visas. Iran's Football Federation, whose chief Mehdi Taj was reportedly among those denied a visa, condemned the decision as "political interference in sport." A US administration official confirmed that visas for athletes and necessary support staff were issued, adding that the US would not allow the Iranian team to "abuse this system to sneak terrorists into the United States." US Secretary of State Marco Rubio had previously suggested concerns about individuals with potential ties to the Revolutionary Guards. Tensions from the Middle East war have complicated the visa situation, leading Team Melli to shift its World Cup base from Arizona to Tijuana. Iran, in Group G, is scheduled to play group stage matches in the United States
Mirra Andreeva secured her first Grand Slam title at the French Open, defeating Polish qualifier Maja Chwalinska in straight sets, 6-3, 6-2. The 19-year-old Russian became the youngest Roland Garros women’s singles champion since Monica Seles in 1992 and the first player born after 2005 to win a Grand Slam. Andreeva expressed her disbelief and gratitude, stating that winning the tournament was a long-held dream. Chwalinska, who had an impressive run from qualifying to the final, acknowledged Andreeva's talent despite her own disappointment. This victory marks a significant milestone in Andreeva's career, adding the Coupe Suzanne Lenglen to her two WTA 1000 titles. Chwalinska's performance will see her ranking rise significantly, assuring her regular participation in major tournaments.
Speaker of the National Assembly Saara Kuugongelwa-Amadhila urged media institutions to improve the portrayal of women, especially those in leadership roles. Speaking at the 35th anniversary of the Namibian Broadcasting Corporation NBC, Kuugongelwa-Amadhila noted that media coverage often focuses on controversy and personal conduct rather than women's professional achievements. She stated that this imbalance erodes public confidence in women leaders and discourages women from participating in public life. The Speaker emphasized the media's responsibility to assess women based on their work and called for fair, balanced, and contextualized reporting. Kuugongelwa-Amadhila also raised concerns about technology-facilitated violence against women, such as online harassment and disinformation campaigns, which force women to limit their online presence or withdraw from public life. She urged public media to refuse to amplify abusive content and promote responsible digital conduct. Furthermore, she called on media organizations to invest in journalist training to improve reporting on complex national issues, including economics, public finance, and legislative processes, to ensure accurate reporting and strengthen the media's accountability role.
President Netumbo Nandi-Ndaitwah has hailed the new Goreangab Mall in Katutura as a symbol of economic transformation, opportunity, and confidence in Namibia's future. She stated that the development represents progress in reversing the legacy of apartheid-era exclusion. The President noted that Katutura, once a symbol of division, is now a center of resilience, progress, and economic activity, reflecting growing private sector confidence. The mall created approximately 300 jobs during construction and is expected to sustain nearly 400 permanent jobs across its over 40 stores. Nandi-Ndaitwah emphasized that the facility will improve access to essential services, reducing transport costs and saving time for residents. She urged local entrepreneurs, youth, and food market operators to source fresh produce locally and called for stronger partnerships between farmers, retailers, and shopping centers through concrete offtake agreements to boost local production, create jobs, and strengthen food security. The President praised the collaboration between Safland Property Group and Oryx Properties for their investment, which demonstrates confidence in the purchasing power and economic potential of Katutura residents, and encouraged the community to protect and support the mall as a shared asset.