Namibia state firms owe N$11.12 billion
Taxpayers are exposed to a further N$11.8 billion in state-guaranteed debt, straining the national budget.
Namibia's state-owned enterprises have accumulated N$11.12 billion in debt, with taxpayers facing an additional N$11.8 billion in state-guaranteed liabilities. This debt burden represents about 4% of the country's GDP, creating significant fiscal pressure and a reliance on government bailouts.
Minister of Works and Transport Veikko Nekundi dismissed five Namibia Airports Company (NAC) board members in August 2026 following an audit that found governance and procurement irregularities. These included the sale of 19 company vehicles to managers at reduced prices and procurement issues linked to executive contracts. NAC CEO Bisey /Uirab is challenging the dismissals in the High Court.
The Public Enterprises Governance Act requires financial misconduct to be treated with statutory and criminal liability, but boards are often replaced without personal consequence. This pattern mirrors the collapse of Air Namibia, which was liquidated in 2021 after years of state bailouts.
Why it mattersNamibian taxpayers are directly exposed to billions in debt and guaranteed liabilities from poorly performing state-owned enterprises.