Namibia's Mineworkers' Union of Namibia channels members' dues through Namibia Miners Investment Trust (Namit) and Nam-Mic Holdings, which have grown into a N$900-million portfolio with stakes in banks, mines, hotels and other sectors. Members and their representatives say they have seen little benefit from their decades of contributions and allege lack of transparency and financial irregularities.
Why it matters
Mineworkers' union investment empire transparency crisis exposes potential financial mismanagement affecting thousands of members' livelihoods and retirement.
Namibia's Mineworkers' Union of Namibia channels members' dues through Namibia Miners Investment Trust (Namit) and Nam-Mic Holdings, which have grown into a N$900-million portfolio with stakes in banks, mines, hotels and other sectors. Members and their representatives say they have seen little benefit from their decades of contributions and allege lack of transparency and financial irregularities.
De Beers CEO Al Cook says the company's sale could be completed within weeks, with governments including Namibia, Botswana and Angola, and industry investors expressing interest in acquiring stakes. Cook envisions the company's future as a public-private partnership combining governments and private investors.
The government is considering spending up to N$3 billion to buy a stake in De Beers, reportedly partnering with Angola and Botswana, which already hold 15% of the diamond company. The deal follows Anglo American's decision to exit De Beers and sell its 85% stake, with De Beers' valuation dropping significantly from N$65.7 billion to N$6.9 billion.
Brown hyenas in Tsau //Khaeb National Park have remained stable since 1997 with an estimated 200 to 300 individuals in the park, benefiting from successful breeding and low human disturbance. The Brown Hyena Research Project, supported by Namdeb and the Ministry of Environment and Tourism, studies the species' movements and warns that fences and busy roads could disrupt their long-distance coastal travels and threaten the population.
De Beers Group has intensified efforts to boost demand for natural diamonds through a new phase of its global 'Desert Diamonds' marketing campaign, aiming to distinguish natural stones from synthetic alternatives and capitalize on growing consumer interest. Namibia produced 556,000 carats in the first quarter ending 31 March 2026, and diamonds remain critical to the country's economy.
The Namibian publishes an opinion piece arguing that as Namibia approaches major oil and gas production, history—including Iran's experience and Namibia's own resource management of fisheries, diamonds, and uranium—shows that natural resources must be strategically managed to avoid pitfalls like price dependency, reduced transparency, and lagging non-energy growth.
The Chamber of Mines of Namibia has appointed geologist and investment banking professional Fabian Shaanika as Chief Executive Officer, effective 1 May 2026, succeeding retired CEO Veston Malango who led the organization for two decades. Shaanika brings nearly 20 years of mining sector experience across exploration, project development, financing, and production, including recent roles at Kelp Blue and senior positions at Rand Merchant Bank and Standard Bank Namibia.
Fabian Shaanika, former managing director of Kelp Blue, has been appointed chief executive officer of the Chamber of Mines of Namibia, effective 1 May 2026. He brings experience from mining and resources roles at Namdeb, Vedanta's Skorpion Zinc Mine, Debmarine Namibia, and Rand Merchant Bank Namibia.
The Chamber of Mines of Namibia has appointed Fabian Shaanika, formerly managing director of kelp farming company Kelp Blue, as its new chief executive effective 1 May. Shaanika, a registered geologist with MBA and experience at Rand Merchant Bank, Standard Bank, Namdeb, Skorpion Zinc Mine and Debmarine Namibia, replaces Veston Malango, who retires after 20 years leading the chamber.
The Government Institutions Pension Fund paid its board of trustees chairperson Penda Ithindi N$114,000 for attending three meetings in two months, and Napwu general secretary Petrus Nevonga N$92,163 during the same period, according to payroll records reviewed by The Namibian. The payments have revived concerns that clustered board and sub-committee meetings have become a parallel income stream for trustees already drawing civil service or union salaries.
Green Metals Refining has appointed seasoned mining and banking executive Fabian Shaanika to the board of its Namibian subsidiary Kudu Chemicals, which is developing a sulphuric acid plant at Walvis Bay for battery-grade manganese chemical production.
Namdeb, NAMITVEST Investment Holdings, and the Mineworkers Union of Namibia have signed a Payroll Deduction Agreement enabling employees to invest in NAMITVEST products through automatic payroll deductions, aimed at improving financial inclusion and wealth building among mineworkers.
Victoria Shilongo, a 29-year-old author and evangelist, has published three books aimed at equipping teenagers with life skills and purpose through topics including emotional intelligence, financial literacy, and faith-based guidance. Shilongo, who leads a youth ministry initiative, says her books offer a holistic approach to personal growth and are designed to help young people think critically in an increasingly confusing world.
Women represent only 15–19% of the global mining workforce despite centuries of participation in the sector. In Namibia, progress is accelerating with more women in STEM fields, technical roles, and leadership positions, though sustained commitment to inclusion remains necessary.
Namdeb's CEO Riaan Burger said the company faces the most severe and long-lasting downturn in diamond market history, but expressed confidence the company will weather the crisis through cost restructuring, technological innovation, and diversification efforts including renewable energy adoption and supporting economic diversification in Oranjemund.
Anglo American's sharp devaluation of De Beers to US$2.3 billion reflects the diamond industry's struggles amid competition from lab-grown diamonds, which threatens Namibia's fiscal health since diamonds fund schools, hospitals and roads. Experts debate whether Namibia should invest in the sector as Anglo American seeks buyers, with some warning the industry faces long-term decline.
A Namib Desert Diamonds employee has been arrested in connection with a diamond heist at the company's offices on 18 January 2025, bringing the total number of arrested employees to four. Diamonds valued at N$314.9 million were stolen in the robbery, which left two employees dead; N$40.6 million worth has so far been recovered.
Police and a diving team from Namdeb Diamond Corporation are searching for a 12-year-old girl from Rosh Pinah who was swept into the ocean at Oranjemund during a fishing trip. The girl went missing in the water on January 7, and as of midday January 8 had not been recovered.