Namibia plans sovereign wealth fund

Mining and energy revenue will support new entity


Namibian finance minister Iipumbu Shiimi said that the country’s government would establish a sovereign wealth fund by the end of 2021.

The minister – who was central bank governor from 2010 to 2020 – said Namibia would direct its mining and renewable energy earnings to the fund, as well as the proceeds from state asset sales and fishing quotas. Bloomberg reported the comments, citing an October 25 interview Shiimi gave to the Namibian Broadcasting Corporation.

According to the CIA World

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