Niël Terblanché
A high-level delegation led by Namibia’s Vice President, Nangolo Mbumba will be representing the country at the United States – Africa Business Summit in Gaborone to highlight investment opportunities in priority sectors.
According to a statement issued by the Namibian Investment Promotion and Development Board (NIPDB), the country’s energy sector has become famous for its diversity and growth. In terms of oil and gas, recent significant exploration activities have led to considerable discoveries of approximately 11 billion barrels of oil equivalent that have the potential to place Namibia among the top oil and gas-producing nations in Sub-Saharan Africa.
“Our renewable energy sector is similarly robust, leveraging world-class solar and wind power investment potential and along with enabling legislation, Namibia currently has more than 19 independent power producers will to invest in 1.2 Giga Watt of new generation capacity,” the NIPDB said.
According to the NIPDB, the country is in the process of pioneering large-scale green hydrogen production, which could significantly enhance its economy and affirm Namibia’s place in the global green energy landscape by producing at least 10 million tons of green hydrogen annually by 2050.
The country is also developing opportunities in emerging carbon markets which is illustrative of its commitment to transformative climate action and sustainable development.
These developments will form part of the discussions at the Invest in Namibia session scheduled to take place on the sidelines of the Business Summit today.
The discussion will be hosted by Vice President Mbumba and will be attended by high-level officials from the public and private sector.
According to the NIPDB, the session will highlight the latest developments and investment opportunities in Namibia’s dynamic energy sector.
Various speakers will accentuate the Namibian government’s continued efforts to enhance the country’s investment landscape.
Namibia’s Vice President is accompanied by the Minister of Agriculture, Water and Land Reform Calle Schlettwein, the Minister of Industrialization and Trade, Lucia Iipumbu and the Chief Executive Officer and the Chairperson of the NIPDB Nangula Uaandja.
The summit started yesterday and will conclude on Friday.
