Namibia's informal settlements: a vast untapped economic asset
via The Namibian7 min read
Jason Kasuto argues that Namibia's informal settlements, home to nearly 40% of the population, represent a significant reserve of "dead capital" rather than a liability. He highlights that while drill ships are exploring oil off L眉deritz, the corrugated roofs of Havana in Windhoek signify an overlooked economic opportunity. Kasuto, managing director of Monasa Advisory & Associates, draws on Peruvian economist Hernando de Soto's concept of dead capital, where assets like homes in informal settlements lack legal titles, preventing them from being used as collateral or for investment. He notes that roughly nine out of ten Namibians in these settlements do not qualify for a mortgage, and the country needs over half a million homes, contributing to its status as one of the most unequal nations. Kasuto proposes a five-step plan to unlock this capital: national implementation of the 2012 Flexible Land Tenure Act to provide simpler land titles, designing housing finance for incremental loans, funding these initiatives with mandated local investments from pension funds, allowing citizens to build incrementally on serviced land, and formalizing the economy by enabling informal traders to become bankable businesses. He emphasizes that providing ownership is a deeper dividend than a one-off transfer, allowing for the democratization of assets and addressing inequality.
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This summary was AI-generated from a story originally published by The Namibian.
Must ReadPresident Netumbo Nandi-Ndaitwah advocated for enhanced cooperation in clean energy, uranium value addition, and technology transfer with China during her state visit. On Tuesday, she visited the China General Nuclear Power Corporation CGN in Shenzhen, accompanied by first gentlemen Denga Ndaitwah and the Namibian delegation. CGN, a major Chinese nuclear power company, focuses on low-carbon electricity generation. President Nandi-Ndaitwah highlighted Namibia's role as a leading uranium producer, emphasizing the opportunity to move beyond raw material export. She stated that Namibia is well-positioned to deepen cooperation with partners like CGN, focusing on value addition, technology transfer, skills development, and sustainable resource utilization for the benefit of Namibians. The Presidency noted Namibia's desire for partnerships that contribute to industrialization, job creation, and equipping Namibians with skills for the global clean energy value chain. The visit underscores Namibia and China's shared commitment to deepening bilateral cooperation and exploring new opportunities in clean energy, innovation, industrialization, and sustainable economic development. This engagement is part of President Nandi-Ndaitwah鈥檚 state visit to China, aimed at expanding cooperation in trade, investment, infrastructure, and energy.
Letshego Namibia's share price has decreased over the past year, despite the company distributing substantial dividends to its shareholders. The stock closed unchanged at N$5.55, but has fallen by 14.75% over the last year, making it one of the less performing financial services shares on the Namibia Securities Exchange NSX. Letshego currently has over 6,500 shareholders and a market capitalization of N$3.2 billion. For the 2025 financial year, Letshego Holdings Namibia paid out a total of N$454.5 million in ordinary dividends. This included an interim ordinary dividend of 47.02 cents per share N$235.1 million paid in November 2025, and a final ordinary dividend of 43.88 cents per share N$219.4 million for the 2024 financial year, paid in June 2025. Additionally, a final ordinary dividend of 54.14 cents per share N$271 million for the 2025 financial year was payable to shareholders on April 24. The group also paid a preference share coupon dividend of N$13.4 million during the 2025 financial year.
The Financial Intelligence Centre FIC has issued 342 administrative sanctions and N$19.91 million in penalties, marking a 1,300% increase in anti-money laundering compliance failures compared to the previous year's 25 sanctions. The FIC's 2025 annual report indicates that these penalties were imposed on institutions for failing to comply with the Financial Intelligence Act and the Prevention and Combating of Terrorist and Proliferation Activities Act. This significant rise in sanctions reflects increased supervisory activity and more stringent enforcement against repeat non-compliance. Sanctions were applied to various institutions, including banks, legal practitioners, property agents, trust and company service providers, and casinos. Compliance failures included not conducting enhanced due diligence on high-risk clients, failing to identify beneficial owners, and not reporting suspicious or large cash transactions. Other issues involved inadequate monitoring systems and failure to screen clients against United Nations Security Council sanctions lists. Some businesses faced operational suspensions due to serious breaches of anti-money laundering obligations, specifically weaknesses in enhanced due diligence, controls for politically and prominently influential persons, suspicious activity reporting, electronic funds transfer reporting, staff training, independent compliance reviews, risk management systems, and beneficial ownership requirements. The FIC's analysis also revea