NDN Staffer
PRETORIA, April 24 — Namibia’s recent oil discoveries in the Orange Basin offshore southern Namibia have presented an opportunity for collaboration between the country and South Africa in the oil and gas sectors. The Namibian President, Hage Geingob, has urged his South African counterpart, Cyril Ramaphosa, to take advantage of these discoveries for mutual benefit. Namibia has made three oil discoveries in the area over the past year, presenting the potential for growth and prosperity after a period of economic difficulty.
Geingob has previously stated that the estimated 6.5 billion barrels of oil production could earn Namibia between N$60 billion and N$95 billion annually in taxes and royalties. The oil projects are expected to generate over 3,600 jobs at the peak of production and double Namibia’s gross domestic product by 2040 to about N$636 billion.
During his state visit to South Africa, Geingob and Ramaphosa agreed to have their agreements audited before the binational commission later this year. Namibia and South Africa have over 100 bilateral agreements that cover various sectors, but the two presidents have been accused of using these agreements for their personal gain.
Ramaphosa has also announced that Namibia and South Africa will host a business forum in Windhoek during their bilateral meeting. The forum will be attended by business people from both countries, and the ministers responsible for trade and industry will convene it. One of the areas of cooperation will be infrastructure in the water sector.
Furthermore, Namibia and South Africa have signed an agreement to focus on tourism. The signing was witnessed by the two countries’ ministers, Pohamba Shifeta and Patricia de Lille. This marks another area key to the economic development aspirations of both countries.
In conclusion, Namibia’s oil discoveries present an opportunity for collaboration between Namibia and South Africa in the oil and gas sectors. This opportunity could bring growth and prosperity to Namibia, and the two countries could benefit from joint business forums and agreements. The focus on tourism and infrastructure in the water sector is an indication of the potential for growth and development in various sectors between the two countries. – Namibia Daily News
