Dangote Group to Invest US$140 Million in Walvis Bay Tank Farm, Boosting Namibia’s Energy Sector
The Dangote Group is planning a major investment in Namibia, estimated at approximately N$2.6 billion (US$140 million), for the development of a petroleum tank farm at the Port of Walvis Bay. Negotiations with the Namibian government are ongoing to finalize the project’s scope.
Ambassador Dr. Kaire Mbuende, Director General of Namibia’s National Planning Commission (NPC), told Namibia Mining & Energy that the proposed investment aligns with the government’s broader strategy to attract strategic domestic and international capital to address social and economic challenges.
“The Namibian government recognises that addressing the country’s social and economic challenges cannot be achieved by government efforts alone,” Mbuende said. “Strategic investments, both domestic and international, are essential to maximise the value of our resources and ensure broad-based benefits for Namibians.”
The Dangote Group’s proposed tank farm at Walvis Bay is designed to supply petroleum products to the wider African market and is one of several investments arising from ongoing discussions with international investors.
Mbuende clarified that while Dangote’s memorandum of understanding with Zimbabwe references investments exceeding N$18.5 billion (US$1 billion), approximately N$2.6 billion (US$140 million) is earmarked specifically for Namibia.
He confirmed that the investor will cover all costs associated with establishing the tank farm and related infrastructure, while Namibia’s involvement is limited to leasing land north of Walvis Bay through the Namibian Ports Authority.
Negotiations between the government and Dangote are still ongoing, and no definitive timelines have been set for feasibility studies, environmental impact assessments, construction, or project completion.
“Once finalised and the full scope of the project is defined, the timelines will be established,” Mbuende said.
Regarding infrastructure, Mbuende stated that the project has been designed to integrate with existing facilities at Walvis Bay, with routine maintenance planned to ensure long-term sustainability. Any additional upgrades needed will be addressed as the project progresses.
He emphasised that the government remains committed to collaborating with all stakeholders and the Dangote Group to create a conducive investment environment, positioning Namibia as a competitive regional hub for logistics and economic development.
In addition, Nigerian billionaire Aliko Dangote has announced plans to construct a 2,000-kilometre fuel pipeline from Namibia’s Walvis Bay through Botswana to Bulawayo in Zimbabwe, further expanding regional energy connectivity.
