Benguela Blue Aquafarming (BBA) is developing a phased offshore aquaculture project off Lüderitz, Namibia, to establish a climate-resilient source of marine food production alongside the country’s wild-capture fisheries. The project will combine land-based juvenile production, monitored offshore grow-out, harvesting and processing. It begins with a demonstration phase and is intended to scale to approximately 35,000 tonnes of annual production. Namibia’s marine economy is exposed to changing ocean temperatures, oxygen levels, currents and fish-stock distributions. BBA’s managed farming model aims to diversify seafood production and allow stocking, production cycles and operating practices to respond to observed environmental conditions. The project will also establish infrastructure, technical expertise and operational knowledge that can support a wider aquaculture industry in Namibia.
Project overview
Investment opportunity
BBA offers equity and debt investors an opportunity to finance a new export-oriented offshore aquaculture industry in Namibia. The phased demonstration-and-scale-up programme targets approximately 35,000 tonnes of annual production. Its total planned development cost is US$160 million, but this sum is not sought upfront. The previous Commonwealth submission reported US$1 million in funding secured; a further US$65 million in external financing is required. BBA plans to fund the remaining approximately US$94 million of cumulative development cost by reinvesting a portion of profits generated as production scales. This reinvestment depends on operating performance and projected cash flows; it is not committed capital. Investors can provide equity, senior debt or mezzanine financing aligned with project stages. DBN is an existing funding partner; AfDB, Eksfin, Ashburton, Bank of Windhoek and RMB were identified as potential, not committed, funders.
Investment types sought
Project status
Development stage
Bankable / investment ready
Current status / progress to date
Selected through the 2026 Commonwealth bankable-project screening process and considered finance-worthy, as reported by the project sponsor. Currently promotion ready, with a demonstration phase preceding commercial scale-up. DBN is an existing funding partner; potential additional lenders and investors have been identified. Selection does not constitute financing.
Additional project information
- Lead agency
- NIPDB (lead facilitating agency); Benguela Blue Aquafarming (project developer)
Expected impact
Jobs created / supported
At full development, BBA projects approximately 600 direct jobs and 1,500 indirect jobs. Direct roles span aquaculture, marine operations, shore processing, logistics, engineering and biological services, while indirect jobs are expected across supporting industries and local suppliers. Figures are projected and do not represent current employment.
Economic & development benefits
- New Export-Oriented Aquaculture Production In Lüderitz Targeting Approximately 35,000 Tonnes Per Year At Full Development
- Diversifies Namibia's Marine Economy Beyond Wild-Capture Fisheries
- Creates Skilled Employment In Aquaculture, Marine Operations, Processing, Logistics, Engineering And Biological Services
- Supports Local Procurement And Indirect Employment In Lüderitz And The //Karas Region
- Strengthens Aquaculture Skills Transfer, Research Partnerships And Infrastructure For Future Namibian Producers
Climate & resilience benefits
- Managed Seafood Production System Complementing Climate-Sensitive Wild-Capture Fisheries
- Supports Monitoring Of Temperature, Dissolved Oxygen, Currents, Waves And Fish Performance
- Enables Adaptive Stocking, Production Cycles And Operating Practices As Ocean Conditions Change
- Uses A Phased Approach To Biological And Operational Validation Before Large-Scale Expansion
- Strengthens Coastal Economic Resilience Through Diversified Food Production, Exports And Employment
Contact
Contact team
For more information about this project, please contact the Commonwealth Investment Platform team.