Bannerman Energy spends N$428.2 million on local procurement for Etango project

Bannerman Energy reported spending over N$428.2 million on local procurement and contractor services during the 2026 financial year. This expenditure supported early construction activities at the Etango uranium project in the Erongo Region, covering civil works, engineering, electrical infrastructure, and aggregate crushing.

As of June 30, 2026, 99.4% of the project's contractor and subcontractor workforce was Namibian. The company also noted that Namibians comprised approximately 90% of its permanent employees. Bannerman has secured long-term electricity and desalinated water supply agreements with NamPower and NamWater to support the project.

In addition to infrastructure development, the company allocated approximately N$1.73 million toward corporate social investment, including educational assistance programs. Bannerman aims to increase Namibian recruitment to more than 80% during the 2027 financial year.