China’s Wang Yi brings investment promises to Namibia at start of Africa tour

Resource-rich Namibia starts the year with the prospect of multibillion-dollar investments in nuclear power, minerals processing and housing for its police force, in a series of deals unveiled during Chinese Foreign Minister Wang Yi’s visit.

Wang, who is on a four-nation tour of Africa, told outgoing President Nangolo Mbumba on Monday that China was willing to help Namibia transform its resource advantages into developmental and societal benefits.

“Namibia has unique resource endowments and huge development potential,” Wang said, during a meeting at the southern African nation’s coastal resort town of Swakopmund.

Mbumba said Namibia, which is rich in uranium and critical minerals, was seeking investments from China in nuclear, wind, and solar power, to boost its standing in the global rush towards a green energy transition.

“We want to add value to our uranium for the peaceful development of nuclear energy and other energy sources,” he said.

Namibia is the world’s third largest producer of uranium and two of its most productive mines for the radioactive element are majority-owned by Chinese companies.