Mines minister Tom Alweendo says Namibia is a great example of attracting investment in oil, gas, and mining through continuing collaboration with investors and industry stakeholders to further development.
“This approach has brought major players like Shell and TotalEnergies to Namibia. Their investments will create jobs, build roads and infrastructure, and improve the lives of Namibians, supporting President Geingob’s vision,” he said on his LinkedIn page on Tuesday.
According to Alweendo, African countries can benefit immensely from the ongoing oil and gas projects if they offer competitive policies.
Alweendo said taxes and royalties must reflect the high industry costs and ensure stability.
He also said transparency, strong economies, and efficient legal systems will be crucial to acquiring investments.
Alweendo said African nations are right to pursue natural gas alongside renewables as developed countries still rely on it for reliable energy. The minister cited the example of the US where fossil fuels, predominantly natural gas, still generate 60% of electricity.
“Asking African nations to disregard natural gas suggests that we should accept half the power capacity, half the standard of living, and half the safety compared to Western countries.
“No nation has industrialised without reliable energy; natural gas provides that while we build our renewable capacity. As Africans, we should drive our energy transition initiatives by using what we have now to achieve our future,” he said.
