13 Jul Namibia to seek investment at the US – Africa Business Summit
Niël Terblanché – A high-level delegation led by Namibia’s Vice President, Nangolo Mbumba will be representing the country at the United States – Africa Business Summit in Gaborone to highlight investment opportunities in priority sectors.
According to a statement issued by the Namibian Investment Promotion and Development Board (NIPDB), the country’s energy sector has become famous for its diversity and growth. In terms of oil and gas, recent significant exploration activities have led to considerable discoveries of approximately 11 billion barrels of oil equivalent that have the potential to place Namibia among the top oil and gas-producing nations in Sub-Saharan Africa.
“Our renewable energy sector is similarly robust, leveraging world-class solar and wind power investment potential and along with enabling legislation, Namibia currently has more than 19 independent power producers will to invest in 1.2 Giga Watt of new generation capacity,” the NIPDB said.
According to the NIPDB, the country is in the process of pioneering large-scale green hydrogen production, which could significantly enhance its economy and affirm Namibia’s place in the global green energy landscape by producing at least 10 million tons of green hydrogen annually by 2050.
…CONTINUE READING… READ FULL ORIGINAL ARTICLE HERE