Namibia has rejected a proposed N$4 billion (about $244 million) oil and gas logistics supply base project led by Ghanaian entrepreneur Jory Adu-Boahene, citing concerns over the consortium’s financial capacity, technical expertise and experience in managing similar facilities.
The Namibian Ports Authority (Namport) turned down the proposal submitted by Alpha Nautical Services Limited (Anol) to develop the facility at the Port of Lüderitz, a project designed to support offshore exploration, production and logistics operations as Namibia expands its emerging petroleum industry.
Brandspur Brand News gathered that Namport’s decision followed an assessment of documents submitted by Anol, with the port authority concluding that the company did not provide sufficient evidence of its ability to finance, build and operate the proposed supply base.
The project was part of a public-private partnership initiative involving Namport and the Namibia Industrial Development Agency (Nida), which was tasked by Namibia’s Cabinet in 2025 with identifying a private developer for a 25-year design, build, own, operate and transfer concession.
Namport Chief Executive Andrew Kanime said the evaluation found that Anol did not meet the required standards for financial strength, operational capability and industry track record needed for the project.
The authority also raised concerns about the consortium’s funding plans, noting that the submitted letter of intent from potential financiers was not enough to confirm access to the capital required for the development.
Namport said Anol would have needed to provide clearer details on equity contributions, debt financing arrangements, committed investors, sponsor support and guarantees to demonstrate financial readiness.
The Ghanaian-led consortium, however, rejected the assessment, arguing that it had the necessary experience and industry connections to execute the project. Adu-Boahene said the company created a Namibian entity to comply with local regulations but believed the move was unfairly used to question its capabilities.
Adu-Boahene also pointed to Anol’s links with offshore logistics operations, including experience associated with Lagos-based logistics infrastructure supporting international oil companies, as evidence of its capacity in the sector.
The entrepreneur questioned the consistency of Namport’s evaluation process, arguing that similar projects involving foreign-owned companies had received approval while locally compliant entities faced stricter scrutiny.
Beyond funding and experience issues, Namport also rejected Anol’s proposed Robert Harbour location for the supply base, citing challenges linked to shallow waters and hard-rock seabed conditions that could increase dredging costs and limit heavy-lift operations.
The rejection is expected to trigger a fresh competitive bidding process as Namibia seeks investors capable of developing infrastructure to support its growing offshore oil and gas sector.
Namibia has attracted increasing attention from global energy players following major offshore discoveries, with the country seeking strategic investments to build the infrastructure needed to transform its petroleum potential into economic growth.
