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

Namibia has discovered substantial quantities of offshore oil and gas in the Orange Basin and is preparing for its first oil production in 2029. But it pivots Namibia into a defining moment: will its natural resource wealth translate into public benefit, or will this windfall be lost before reaching the national treasury?

This project analyzed, in detail, how Namibia can and must strengthen its tax system at this critical time. Working with the Namibia Revenue Agency (NamRA) and the Ministry of Finance, the team examined how multinational enterprises (MNEs) are able to legally shift their profits out of the country through gaps in the existing tax regulations and double taxation agreements. These gaps have real negative consequences for the Namibian people, reducing the government’s ability to fund the common good, schools, healthcare, and infrastructure.

The Capstone provided practical, implementable, and detailed recommendations for strengthening tax rules, prioritizing tax treaty renegotiation, and ensuring that tax policies reflect how the MNEs actually operate through multiple affiliates, so that Namibian resource wealth can become real public investment. Beyond Namibia, the approach offered a scalable framework that other resource dependent, and potentially rich, African and developing countries can adapt to protect their tax base and turn natural resource wealth into inclusive and long-term economic and social development.