Staff Reporter
WINDHOEK, Oct. 12 — With recent oil discoveries and ambitious plans to produce cost-effective green hydrogen, complemented by abundant wind and solar resources, Namibia’s future is on a promising trajectory. Deputy Prime Minister and Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah, delivered a speech in September 2023 at the National Skills Competition in Ongwediva, highlighting the significant oil discoveries that are positioning Namibia as a new frontier for oil exploration. The nation boasts substantial natural resources, estimated at 11 billion barrels of oil and 2.2 trillion cubic feet of natural gas reserves.
Minister Nandi-Ndaitwah emphasized the government’s commitment to establishing Namibia as the clean energy hub of Africa, with a particular focus on developing the Technical and Vocational Education and Training (TVET) sector. The government views its people as its most crucial resource and believes that investing in TVET is pivotal for national socio-economic development, technological progress, industrialization, and wealth creation.
In alignment with this vision, Bank Windhoek firmly supports the development of the TVET sector and recognizes its potential to contribute to economic growth. Countries like Switzerland, Germany, and Singapore have successfully established world-class TVET systems, significantly bolstering their Gross Domestic Product (GDP). Switzerland, for example, is globally renowned for its vocational training, on-the-job training, and employability, setting a gold standard for vocational education and training systems.
Bank Windhoek’s Commitment to the TVET Sector
Bank Windhoek is dedicated to empowering the TVET sector due to its remarkable role in combating unemployment, fostering knowledge sharing, encouraging benchmarking, and promoting innovation in skills development. The bank’s commitment is exemplified through its generous sponsorship of one million Namibian Dollars to the Namibian Training Authority (NTA), which hosted WorldSkills Africa in Swakopmund in 2022.
In a significant move in September 2023, Bank Windhoek, in collaboration with the Capricorn Foundation, pledged another one million Namibian Dollars to support the third National Skills Competition in Ongwediva. This substantial financial contribution underscores the unwavering commitment of Bank Windhoek and the Capricorn Foundation to be catalysts for positive change within Namibia’s economy and the communities in which they operate. Their sponsorship reflects a steadfast dedication to education and skills development in Namibia, ultimately leading to meaningful, long-term employment opportunities for Namibians.
