Mines minister Tom Alweendo says Namibia and Africa must be aware of global trends that will shape economic development.
Speaking at the Africa Energy Week in Cape Town on Thursday, Alweendo said it is only logical for African nations to safeguard the socioeconomic advantages from ongoing oil and gas operations.
“We need to build an African energy sector that is not only economically robust but also environmentally responsible.
“There is an African proverb that says: Move like a chameleon. Keep one eye on the past and the other on the future,” Alweendo said.
He said factors like stable economies, transparency, and efficient legal frameworks significantly influence investment decisions.
According to Alweendo, that is precisely what Namibia is doing.
“We are doing so by ensuring that our policies are geared to encourage the needed investment.
“At the same time, our policies are designed to incentivise building inclusive economic and political institutions,” he added.
The minister said Namibia is committed to ensuring these conditions continue.
“To provide a conducive environment for investment in Namibia, we must forge effective collaboration with potential investors and industry stakeholders.
“This is the only way we can continually improve the investment landscape that is sustainable and mutually beneficial between the parties.
“We believe the collaboration will produce the desired outcomes, and I want to thank all the investors currently working with us in our oil and gas sector.
“Our commitment to you is that you have a dependable partner in us. In return, we ask that you ensure that you earn your license to operate. In my definition, a license to operate is where you, as investors in our country, present a manifesto to the communities where you operate,” Alweendo said.
He said the investors’ manifesto needs to indicate how they intend to make life better for the communities where they operate, immerse themselves as corporate members of that community, and contribute to the broader advancement of that community.
He said a key element of how Namibia wants to manage its oil and gas industry is that of local content.
In this respect, the minister said, Namibia is instituting broad policy tools that promote the creation of domestic businesses and the employment of Namibians.
He said local content aims to spread the wealth that these natural resources generate equitably among Namibians.
Alweendo said he is convinced that Africa’s future looks brighter and the potential for growth in the energy sector is unprecedented. He called on all stakeholders—governments, businesses, innovators, community leaders—to embrace this challenge.
“Thus, we need to reflect on who we are and where we come from, and at the same time, be aware of global trends that will shape our economic development,” he said.
