At COP29, Namibia is actively seeking oil and gas investments, promoting its potential to double GDP by 2040 through exploration in four basins and partnerships with companies like BW Energy. However, experts caution that reliance on fossil fuels may lead to economic pitfalls similar to those faced by Nigeria and Angola, risking environmental degradation and stranded assets as the world shifts towards clean energy.
Kelp Blue is set to issue Africa's first corporate blue bond next year to support the expansion of its giant kelp forests along Namibia's coast. The De Beers-backed startup plans to list an initial $20 million tranche as part of a four-year program aiming to raise up to 3 billion Namibian dollars ($173 million) on the local stock exchange in 2025.
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