RMBNamibiapowerssustainablegrowthwithmajorsolarfinancing

RMB Namibia has reached another key milestone in its mission to deliver innovative financial solutions that support infrastructure development and foster sustainable growth. Recently, the company served as lead arranger for financing the expansion and operation of two 10 MW solar projects in Mariental and Kokerboom. RMB Namibia played a pivotal role in securing nearly N$500 million, of which the Government Institutions Pension Fund (GIPF) funded just over 50%, in project financing for Sturdee Energy and the Frans Indongo Group. This project will enhance Namibia's renewable energy capacity and drive long-term development.

"By leveraging our market-leading bespoke solutions and ability to crowd inefficient capital pools, RMB is pleased to deliver attractive, sustainable returns to like-minded investors and to Namibian society at large. Our commitment to green energy is anchored in our enduring purpose of creating a globally competitive Namibian economy, utilising all its natural resources to create value and impact for all stakeholders. This transaction demonstrates our resolve to deepen the Namibian capital markets and showcases our unmatched ability to provide locally developed solutions for both domestic and international investors as well as the leading role we continue to play in delivering ESG and blended finance solutions," explains Leonard Hamunyela, Infrastructure Dealmaker at RMB.

Sturdee Energy, a leading Independent Power Producer (IPP) in Southern Africa, will leverage this financing to scale its operations and strengthen its regional position. James White, Executive Director of Sturdee Energy, explained, "This partnership not only expands our operational capabilities but also aligns with our strategic goals to deepen our engagement in Namibia and enhance our contributions to the region's energy needs.”

Meanwhile, Jeremy George, Chief Executive Officer of Frans Indongo Group, noted that "Working with Sturdee as an investment and expert technical partner aligns with the Frans Indongo Group's strategy, through Indongo Energy to invest in Namibia and its energy sector which is one of the catalysts for economic growth in Namibia. This approach reflects the Frans Indongo Group's ethos of Shape Today, Own Tomorrow."

RMB Namibia is committed to delivering specialised financial solutions, optimising investor returns and providing green assets to Namibia's capital markets. As part of the FirstRand Namibia ecosystem, RMB has successfully facilitated capital mobilisation beyond traditional commercial banking sources. Notably, the Government Institutions Pension Fund (GIPF), through Ashburton Investment Managers (Ashburton), played a key role in financing this transaction. 

“Ashburton through the mandate provided by GIPF remain committed to providing funding solutions to support the growth of Namibia’s infrastructure. Developing infrastructure is crucial to the country's economy and plays a vital role in ensuring a sustainable future for Namibia.” says Taimi Shejavali, CEO of Ashburton Investments Namibia.

With Namibia's growing energy demand and positive economic outlook, this financing transaction aligns with the country's broader sustainability goals. RMB Namibia remains committed to fostering a globally competitive Namibian economy, ensuring that its financial solutions unlock long-term value for investors and stakeholders.