Standard Bank Namibia and RMB Namibia have partnered with Terminal Investment Namibia (TiN) to secure N$2.1 billion to expand and upgrade the Walvis Bay port.
The aim is to transform the port into a leading African transshipment hub.
The financing will fund upgrades to the Walvis Bay container terminal, expanding capacity, improving efficiency, and strengthening Namibia’s role as a key regional trade gateway.
The investment follows the Namibian Ports Authority’s decision to grant TiN a 25-year concession to operate and maintain the terminal.
Standard Bank Namibia investment banking manager Tjizomundu Kavetu says the transaction demonstrates the bank’s ability to deliver innovative financial solutions for large-scale infrastructure projects.
“This transaction demonstrates Standard Bank Namibia’s ability to deliver innovative, tailored solutions that enable large-scale infrastructure investments through our corporate and investment banking division.
“By partnering with RMB, we are supporting TiN’s vision to transform Walvis Bay into a strategic logistics hub for the region. This aligns with our purpose of driving Namibia’s growth and facilitating trade across Africa,” he says.
Standard Bank Namibia structured a United States dollar–denominated tranche as part of the financing package to cater for cross-border investment needs, highlighting the bank’s leadership in complex transactions and commitment to Namibia’s long-term economic growth.
RMB Namibia investment banking dealmaker Leonard Hamunyela says the transaction underscores RMB’s focus on infrastructure development as a foundation for sustainable prosperity.
“RMB firmly believes investing in infrastructure is not just an economic imperative; it is the cornerstone of enduring prosperity.
Our commitment is to foster a competitive Namibia and create lasting value that will benefit generations to come,” he says.
Hamunyela says RMB, acting as joint arranger alongside Standard Bank Namibia, designed a bespoke financing structure that supports TiN’s plan to develop a world-class transshipment hub at Walvis Bay.
“This landmark transaction emphasises RMB’s dedication to forging strong partnerships with both local and international investors who share our vision for transformative progress.
It directly empowers TiN’s ambition to develop a world-class facility that will position Namibia as a pivotal gateway for regional and global trade,” he says.
The N$2.1-billion investment is expected to stimulate economic growth, create employment opportunities, and solidify Walvis Bay’s position as a critical logistics and maritime hub for southern Africa.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
