Maximizing Revenues for a Sustainable Future: Natural Resource Taxation in Namibia

Namibia stands at a pivotal moment as it prepares to transition from a resource-rich to a resource-driven economy. With recent offshore oil discoveries in the Orange Basin estimated at over 20 billion barrels, the nation could double its income by 2040 if managed effectively. This Capstone project, in collaboration with the Ministry of Finance’s Tax Policy Unit and the Namibia Revenue Agency (NamRA), will support the government in designing a fair, transparent, and internationally competitive taxation framework to ensure that Namibia’s natural wealth benefits all citizens and contributes to long-term sustainable development. The project will help modernize petroleum taxation laws, largely unchanged since the 1990s, and align them with best international practices. The final deliverables is a policy framework, operational strategy, and comparative fiscal analysis and it will equip Namibia with practical tools to maximize revenues, ensure fiscal transparency, and lay the foundation for a sustainable, equitable economic future.