South Africa Fund Exits Namibian Uranium Over Iran, Russia Ties

South Africa's Industrial Development Corporation (IDC) has announced plans to sell its approximately 10.5% stake in the Namibian uranium project, Rossing Uranium Ltd. This decision, detailed in the corporation's annual report, stems from the project's involvement with Iranian and Russian entities. The IDC's planned divestment underscores a growing caution in international investments involving entities from these nations.

The sale indicates a significant move by the South African development financier to distance itself from the project due to geopolitical considerations. The exact timeline for the sale has not been specified, but the announcement signals a clear intention to exit the Namibian venture.