Namibia is implementing measures to strengthen local ownership in the mining industry and expand capacity in the oil, gas, and green energy industries in order to promote inclusive economic development.
At a planning conference in Swakopmund on Monday, Deputy Prime Minister Natangue Ithete warned authorities that the country is at a ‘transformative juncture’ and that local enterprises must play an important part in determining Namibia’s energy and mining futures.
“Any mineral rights granted must demonstrate that it is partly owned by Namibians,” Ithete who is also the Minister of Industries, Mines and Energy said.
He stated that the southern African country had collected 5.96 billion Namibian dollars (about $309 million) in royalties from mining activity over the last three years.
To his knowledge, “this was made possible through regular mine inspections and audits to verify mineral exports to ensure the government receives its fair share.”
Namibia has recently witnessed growing interest in its oil and gas reserves, as well as major investment in green hydrogen and renewable energy.
Ithete said ”Building local capacity in these areas is essential to ensure long-term benefits for citizens.”
“These industries must empower local businesses and individuals, in line with the vision articulated by President Netumbo Nandi-Ndaitwah,” the Minister said.
