Namibia plans to position itself as the energy capital of Africa

Namibia, a country with a relatively small economy, is aiming to position itself as a major player in the energy sector in Africa. The Namibia Investment Promotion and Development Board (NIPDB) is actively seeking to attract foreign direct investment to drive growth and development in the country. In an interview with CNBC Africa, Nagula Uaandja, the Chief Executive Director of NIPDB, highlighted Namibia's abundant energy resources, including solar, wind, and biomass, that provide a strong foundation for positioning the country as a sustainable energy capital of Africa. Uaandja emphasized the country's potential in renewable energy, particularly in green and blue hydrogen, as well as recent oil discoveries in the Orange Basin, signaling an exciting time for Namibia's energy sector. One of the key themes of the conversation centered around the challenges facing Namibia in attracting investments in the renewable energy sector. Uaandja acknowledged that while the continent holds significant mineral resources required for the transition to renewable energy, the flow of capital into Africa's renewable energy sector remains limited compared to global standards. He attributed this challenge to the lack of investment in infrastructure, grid instability, and regulatory barriers. To address these issues, Namibia has initiated a Productivity Task Force on Electricity, fostering dialogue between the public and private sectors to optimize energy resources, enhance energy access, and promote economic development. Furthermore, Uaandja discussed the risks and opportunities in the global economy that could impact Namibia's development plans. Despite geopolitical uncertainties, he expressed optimism about the growing investments in Namibia, particularly in the energy sector, citing collaborations with various international institutions and the signing of agreements like the memorandum of understanding with the EU on green hydrogen and critical raw materials access. Uaandja highlighted the de-risking of the Namibian economy, leading to increased investor interest and a positive trajectory for economic growth. The significance of maximizing the beneficiation opportunities in Namibia's mineral sector was also addressed in the interview. Uaandja emphasized the importance of strategic planning and deliberate actions to capitalize on new mineral resources. Namibia has introduced a green industrialization strategy to leverage its green hydrogen potential and promote industrial growth. By forming partnerships with international players and focusing on policy changes and strategic relationships, Namibia aims to create a thriving industrial sector that generates jobs and sustainable economic development. In conclusion, Namibia is poised to emerge as a prominent energy capital in Africa, leveraging its renewable energy resources, recent oil discoveries, and strategic initiatives to attract investments and drive industrialization. With a proactive approach to addressing challenges and seizing opportunities, Namibia is on track to accelerate its economic growth and establish itself as a key player in the continent's energy transition and industrial development.