Namibia Minute.
Monday, 8 June 2026
Namibia’s news, on the hour · Est. 2026
Monday, 8 June 2026
Windhoek—:—London—:—New York—:—Beijing—:—
Namibian press · Organization

National Energy Fund

Namibian government fund that absorbs fuel price under-recoveries and finances energy infrastructure projects including the Angola-Namibia Interconnector.

2024-02-212026-06-08
Share on WhatsApp

What’s been said

Key points drawn from coverage. Tap a point to see the original sentence.

  1. June 2026

  2. Informanté

    National Energy Fund absorbed approximately N$1.3 billion to offset fuel import under-recoveries for April and May

    Source

    “The government halved selected fuel levies from 1 April and absorbed approximately N$1.3 billion through the National Energy Fund to offset import under-recoveries for April and May.”

    Monthly Economic Update – May 2026

  3. The Namibian

    National Energy Fund will receive payments for under-recoveries in fuel losses

    Source

    “Under-recoveries will be paid from the National Energy Fund.”

    Govt absorbs N$47.2m loss to maintain fuel prices
  4. May 2026

  5. Informanté

    National Energy Fund has used much of its surplus to absorb under-recoveries and additional fuel premiums

    Source

    “According to the minister, the National Energy Fund, which previously held substantial reserves, has used much of its surplus to absorb under-recoveries and additional fuel premiums in an effort to prevent even higher pump prices.”

    Namibia secures fuel without premiums

  6. The Namibian

    National Energy Fund is said to be used by government to cushion consumers

    Source

    “The minister says the government will continue to cushion consumers through the National Energy Fund.”

    No change to fuel price for June

  7. The Namibian

    National Energy Fund was allowed to absorb part of the fuel under-recoveries

    Source

    “To shield consumers from higher fuel costs, the government temporarily cut fuel levies by 50% for three months and allowed the National Energy Fund to absorb part of the fuel under-recoveries.”

    Namibia in Numbers

  8. New Era

    National Energy Fund will absorb approximately N$1.3 billion payable to suppliers for April and May 2026

    Source

    “As a result, following these price adjustments, the government has decided to absorb approximately N$1.3 billion payable to suppliers for petroleum products for the months of April and May 2026 through the National Energy Fund (NEF).”

    Sufficient fuel available as prices go up again …Ministry prohibits panic buying to ensure supply

  9. Windhoek Observer

    National Energy Fund will absorb approximately N$1.3 billion in fuel under-recoveries for April and May 2026

    Source

    “He also revealed that it will absorb approximately N$1.3 billion in fuel under-recoveries and supplier premiums for April and May 2026 through the National Energy Fund to cushion consumers from the full impact of global oil market shocks.”

    Fuel stations ordered to refill vehicles only

  10. Informanté

    National Energy Fund will pay N$805 million to offset April 2026 under-recoveries and N$490 million for May 2026

    Source

    “government, through the NEF Fuel Price Equalisation Fund, will pay a total amount of N$805 million to offset April 2026 cumulative under-recoveries and associated fuel premiums, and an additional projected amount of N$490 million to offset May 2026 cumulative under-recoveries and associated fuel premiums.”

    Fuel prices increase once more as geo-political tensions persist
  11. April 2026

  12. The Namibian

    National Energy Fund is financing total project cost of N$4 billion

    Source

    “Namibia is solely financing the total project cost of N$4 billion through its National Energy Fund.”

    Namibia funds N$4 billion power link with Angola

  13. New Era

    National Energy Fund continues efforts to stabilise fuel price volatility

    Source

    “while the National Energy Fund continues efforts to stabilise fuel price volatility.”

    Rehoboth running on empty … begins rationing fuel
Business

Businessman denies political role in Namibia fuel supply deal

The News

Mathews Hamutenya has denied having political connections to State House or involvement in the government's decision to appoint Vitol as Namibia's sole fuel supplier, though his son recently bought 52 service stations and Hamutenya is a partner in a storage facility with Vitol. The Independent Patriots for Change have linked Hamutenya to what they describe as a "conglomerate at the centre of Namibia's petroleum oil takeover."

Why it matters

New detail on businessman's connections to Vitol fuel deal advances ongoing investigation into conflicts of interest in critical commodity supply.

2 June 2026 · The Namibian →

Tuesday 2 June

  1. Businessman denies political role in Namibia fuel supply deal

    Mathews Hamutenya has denied having political connections to State House or involvement in the government's decision to appoint Vitol as Namibia's sole fuel supplier, though his son recently bought 52 service stations and Hamutenya is a partner in a storage facility with Vitol. The Independent Patriots for Change have linked Hamutenya to what they describe as a "conglomerate at the centre of Namibia's petroleum oil takeover."

    2 June 2026 · The Namibian →

  2. Namibia's 2025 GDP growth fell short at 1.7%

    Namibia closed 2025 with GDP growth of 1.7%, below government and IMF forecasts, weighed down by depressed diamond revenues and livestock sector recovery from drought; uranium and gold mining, wholesale trade, transport, and services supported growth. The Bank of Namibia has revised its 2026 forecast down to 2.6%, citing elevated fuel costs and softer global demand, while inflation rebounded to 3.1% in April after reaching a cycle low of 2.1% in March, driven by rising transport, utility, and food prices.

    2 June 2026 · Informanté →

Monday 1 June

  1. Government absorbs N$47.2m loss to keep fuel prices unchanged

    The government is absorbing N$47.2 million in fuel losses in June to maintain current fuel prices despite global oil market volatility. The minister of industries, mines and energy said petrol will remain N$23.48 per litre, diesel 50ppm N$28.26, and diesel 10ppm N$28.36 at Walvis Bay pump prices, with prices across the country unchanged.

    1 June 2026 · The Namibian →

  2. Government mandates exclusive fuel sourcing from Vitol

    The Ministry of Industries, Mines and Energy has directed all fuel companies in Namibia to source petrol and diesel exclusively from Vitol between July and September 2026, citing emergency arrangements and the supplier's willingness to waive financial guarantees. Industry sources report that Vitol fuel is often more expensive than competitors', and the appointment has drawn scrutiny over procurement transparency and Vitol's history of allegations regarding substandard fuel supply.

    1 June 2026 · Windhoek Observer →

Sunday 31 May

  1. Namibia secures fuel supply without premiums via Vitol

    The Ministry of Industries, Mines and Energy announced an emergency fuel supply arrangement with international energy company Vitol covering July to September 2026, stating it protects consumers from further price increases driven by Middle East geopolitical tensions. The government has committed more than N$1 billion to cushion consumers from rising fuel costs and maintain economic stability.

    31 May 2026 · Informanté →

Friday 29 May

  1. June fuel prices frozen; government absorbs under-recovery costs

    Minister of industries, mines and energy Modestus Amutse announced fuel prices will not change in June: petrol remains N$23.48 per litre, diesel 50ppm N$28.26, and diesel 10ppm N$28.36 at Walvis Bay pumps. The government will spend N$47.2 million in June under-recoveries through the National Energy Fund to maintain stable consumer prices and protect fuel supply security.

    29 May 2026 · The Namibian →

Tuesday 12 May

  1. Rising diesel costs force mining companies to adopt efficiency innovations

    Rising fuel prices and global supply shocks, driven by conflict around the Strait of Hormuz, are pushing mining companies to rethink operations. Husab mine has introduced a trolley line system that allows trucks to switch from diesel to electricity on steep ramps, reducing fuel consumption and improving efficiency.

    12 May 2026 · New Era →

Sunday 10 May

  1. Motorists hoarding fuel cost government N$300m extra

    Fuel panic buying in April drove consumption to 125 million litres versus the usual 100 million monthly average, forcing the government to pay N$805 million in subsidies through the National Energy Fund instead of the expected N$500 million. To curb hoarding, service stations have been directed to refuel customer vehicles directly only for the next three months.

    10 May 2026 · The Namibian →

Saturday 9 May

  1. Oil price spike raises concerns about inflation waves

    Following the Israel–US joint attack on Iran in February, oil prices rose above US$100 per barrel, with Namibia's government raising fuel prices in April by N$2.50 for petrol and N$4 for diesel. While temporary levy cuts and National Energy Fund subsidies have cushioned consumer impact—absorbing approximately N$500 million in April alone—further food and logistics inflation is expected as second-wave effects reach Namibia.

    9 May 2026 · The Namibian →

Friday 8 May

  1. Fuel prices rise sharply amid Middle East tensions

    Namibia's fuel prices increased significantly—petrol by N$1.40 per litre and diesel by N$4.63 per litre effective today—due to conflict around the Strait of Hormuz driving up international oil prices. The Ministry of Industries, Mines and Energy assured the public that sufficient fuel stocks are available for the next three months and prohibits panic buying to ensure stable supply.

    8 May 2026 · New Era →

  2. Fuel stations restricted to vehicle refueling only for three months

    Industries, mines and energy minister Modestus Amutse announced a temporary ban on refueling containers, drums, and fuel cans at service stations to prevent panic buying and hoarding following a sharp fuel price increase. The restriction will remain in effect for three months, with an exception for those holding a consumer installation certificate.

    8 May 2026 · Windhoek Observer →

Thursday 7 May

  1. Fuel prices rise amid Middle East tensions, import costs

    Namibia's Minister of Industries, Mines and Energy announced fuel price increases effective at midnight: Petrol 95 up by N$1.40 to N$23.48 per litre; Diesel 50 ppm up by N$4.60 to N$28.60 per litre; and Diesel 10 ppm up by N$4.63 to N$28.36 per litre. The government attributed the increases to sustained international oil price rises, geopolitical tensions in the Middle East, Namibia's dependence on imported refined petroleum products, rising freight and shipping costs, exchange rate fluctuations, and higher insurance and fuel procurement premiums.

    7 May 2026 · Informanté →

Monday 20 April

  1. Namibia funds N$4 billion power interconnector with Angola

    The Namibian and Angolan governments have finalised a N$4-billion agreement to build the Angola-Namibia Interconnector, a 160km transmission line linking Angola to the Southern African Power Pool for the first time. Namibia is solely financing the project through its National Energy Fund and expects to receive 300MW of firm power.

    20 April 2026 · The Namibian →

Thursday 16 April

  1. Namibia and Angola formalize N$4 billion power interconnection deal

    Namibia and Angola have signed binding agreements to jointly develop a cross-border power interconnector (ANNA), featuring a 166-kilometre transmission line linking the Kunene region to Cahama and a further 270-kilometre line between Omatando and Otjikoto. The project, estimated at N$941 million for the interconnector component and set for completion by 2029, aims to enhance regional energy security, diversify Namibia's electricity supply, and enable Angola to leverage its renewable and hydro resources across the Southern African region.

    16 April 2026 · New Era →

Thursday 2 April

  1. Rehoboth fuel stations depleted after panic buying before price hike

    Service stations in Rehoboth ran out of fuel on Tuesday as residents rushed to fill up ahead of a fuel price increase, with only two of five stations still supplying fuel by afternoon. Most stations have begun rationing supplies, and authorities have urged the public to avoid panic buying while maintaining that Namibia's overall fuel stocks remain adequate.

    2 April 2026 · New Era →

Monday 30 March

  1. Middle East tensions drive Namibia fuel price surge, government responds

    Escalating geopolitical tensions in the Middle East are pushing global oil prices higher, affecting Namibia's fuel costs. The Namibian government has temporarily reduced fuel levies by 50% through June and is using the National Energy Fund to cushion price volatility, though economists warn of potential inflationary impacts on transport, production, and household costs if prices remain elevated.

    30 March 2026 · New Era →

  2. Minister confirms adequate fuel stocks despite Middle East tensions

    Minister Modestus Amutse briefed the media that Namibia's fuel supply remains stable with adequate stocks to meet demand for one to two months, and that the main risk from global geopolitical tensions is price-related rather than supply-related. The government has reduced fuel levies by 50% and the National Energy Fund will absorb under-recoveries of approximately N$500 million monthly for at least three months to protect consumers from price volatility.

    30 March 2026 · The Namibian →

Saturday 28 March

  1. Fuel prices rise sharply in April amid Middle East supply pressures

    Petrol will increase by N$2.50 per litre and diesel by N$4 per litre on 1 April, announced by the Minister of Industries, Mines and Energy, citing increased shipping and insurance costs following disruption to Middle East oil routes. The Opposition IPC criticizes the hike as an assault on struggling Namibians, while the government says it is providing relief through a 50% cut in fuel levies and N$500 million support from the National Energy Fund.

    28 March 2026 · The Namibian →

Friday 27 March

  1. Petrol price rises N$2.50, diesel N$4.00 from April 1

    The Minister of Mines and Energy announced fuel price increases effective April 1, 2026, citing sharp rises in international crude oil prices driven by Middle East geopolitical tensions and the weakening Namibian dollar. The Cabinet has temporarily reduced fuel levies by 50% for three months to April–June 2026, with the National Energy Fund absorbing an under-recovery of approximately N$500 million.

    27 March 2026 · Informanté →

  2. Namibian fuel prices rise sharply from April due to global oil surge

    Energy minister Modestus Amutse announced that petrol prices will increase by N$2.50 per litre and diesel by N$4 per litre from 1 April, driven by surging international oil prices, Middle East tensions, and currency weakness. The government will cut fuel levies by 50% for three months and allocate N$500 million from the National Energy Fund to cushion the impact on consumers.

    27 March 2026 · The Namibian →

  3. NOSF enters new phase with market-based fees, wider access

    Namibia's National Oil Storage Facility, a N$6.5 billion investment in Walvis Bay designed to hold 75 million litres of fuel, is undergoing policy reforms to establish market-related tariffs and attract local entrepreneurs to its storage capacity. The facility aims to balance its role as a strategic energy buffer against global supply disruptions with expanded commercial participation and improved operational sustainability.

    27 March 2026 · New Era →

  4. Namibia's fuel storage facility prepares for local business access

    The National Oil Storage Facility handles all petroleum products entering Namibia and is considering opening storage capacity to local entrepreneurs, currently hosting only one private company. The facility, which requires strict international safety and quality standards, is reviewing its fees to provide competitive rates and attract applications from Namibian businesses seeking storage for diesel, ULP, and jet fuel.

    27 March 2026 · New Era →

Monday 23 March

  1. Namibia denies fuel shortage despite global oil tensions

    The Namibian government has reassured the public that domestic fuel supply remains stable and sufficient amid rising global oil prices, citing the National Oil Storage Facility at Walvis Bay (capacity 75 million litres, three months' reserves) and mandatory 30-day reserves held by fuel companies as key buffers against global disruptions.

    23 March 2026 · New Era →

Friday 20 March

  1. Namibia maintains three-month strategic fuel stock amid global market tensions

    With crude oil prices exceeding US$100 per barrel due to Middle East tensions, Namibia faces fresh fuel security concerns despite recent offshore discoveries years from production. The National Oil Storage Facility holds 75 million litres of strategic reserves (representing three months of supply) and works with the National Energy Fund to buffer price shocks, though domestic taxes and levies also drive consumer prices.

    20 March 2026 · New Era →

Wednesday 18 March

  1. Namibia's oil storage facility shields nation from fuel price shocks

    As global oil prices surge amid geopolitical instability in the Middle East, Namibia's National Oil Storage Facility provides strategic defence against supply disruptions and fuel price volatility. With 75 million litres capacity and three months of strategic reserves, the facility operated by Namcor centralises fuel imports and distribution while the National Energy Fund cushions consumers from rising global prices.

    18 March 2026 · New Era →

Monday 2 March

  1. Iran tensions threaten Namibia's fuel imports and economy

    Military escalation between the US, Israel and Iran threatens global oil supplies and raises risks for fuel-importing Namibia, particularly if conflict disrupts the Strait of Hormuz. Analysts urge Namibia to build strategic fuel reserves, diversify suppliers beyond the Gulf region and accelerate renewable energy investment to cushion against price shocks.

    2 March 2026 · New Era →

Friday 20 February

  1. Cabinet approves expedited Angola-Namibia electricity interconnection project

    Namibia's Cabinet has approved accelerated development of the Angola–Namibia Interconnection Project, a power transmission infrastructure linking the two countries' electricity networks via the proposed Baynes Hydropower Plant in Lower Kunene. The Ministry of Industries, Mines and Energy is authorised to sign an intergovernmental Memorandum of Understanding with Angola and pursue bilateral agreements, with financing through the National Energy Fund.

    20 February 2026 · Informanté →

Wednesday 21 January

  1. DBN writes off N$579 million in non-performing loans

    The Development Bank of Namibia has cleaned up its balance sheet by writing off about N$579 million in non-performing loans during the 2024/25 financial year as it navigates a complex economic environment with a shrinking loan book. The bank's net interest income contracted by 25% year-on-year, though it is shifting towards climate financing and prioritising support for SMEs.

    21 January 2026 · The Namibian →

National Energy Fund — Namibian press coverage · Namibia Minute