NDN Staffer
WINDHOEK, April 27 — On April 27, 2023, the Namibia International Energy Conference (NIEC) continued with a high-level panel discussion that explored Namibia’s current energy investment landscape and its pathway to achieving long-term and diversified growth. The event was held in Windhoek, Namibia and moderated by Oliver Dickson, a Business Reporter for South Africa’s national public radio station, SAfm.
During the panel discussion, a slate of high-level energy players shared their insights into how Namibia can foster long-term and diversified growth as an emerging oil producer. The panellists included Shiwana Ndeunyema, Acting Managing Director of the National Petroleum Corporation of Namibia (NAMCOR); Baronice Hans, Managing Director of Bank Windhoek; Kauna Ndilula, Advisory Board Member of the Namibia Investment Promotion and Development Board; Dr. Klaus Endresen, Chairman of the Namibia Petroleum Operators Association; and Osvaldo Inácio, Executive Director of Sonangol and Chairman of SONILS.
Namibia has become one of the most attractive investment destinations in the region due to favourable regulatory reforms, which have cemented ties with leading international oil companies such as TotalEnergies, ExxonMobil, ReconAfrica, and QatarEnergy. Despite this, the development and production industry is still new to the country. Ndeunyema highlighted the importance of understanding where Namibia can add value and create value for service companies and local businesses to participate in exploration and production.
The panellists discussed the importance of financial institutions and how the development of effective management services and processes can optimize the flow of capital into Namibia’s energy landscape. Furthermore, they noted that trusted financial partners rooted within the country will serve as a requisite for future growth and development.
The speakers also touched on the importance of creating and maintaining an attractive investment landscape within Namibia’s extractive sector to position the country as a future energy hub within the continent. They highlighted that significant and diversified investment across the entire energy value chain, backed by international participation, is necessary to consolidate the industry and foster confidence from investors, service companies, and local businesses.
Despite the many risks associated with exploration, panellists expressed confidence in the future of development in Namibia’s energy space. They noted that the exploitation of hydrocarbons will enable Namibia and the wider southern African region to fast-track its energy transition. Maintaining a stable environment that prioritizes diversification and inclusivity was highlighted as a key factor for Namibia to participate in the future of energy development. Additionally, confidence in Namibia’s investment landscape will be based on the country’s collaborative efforts with international players and neighbouring countries. – Namibia Daily News
