For Namibia to become industrialised,it will require investors: Alweendo

Martin Endjala

Mines and Energy Minister, Tom Alweendo has emphasised that if Namibia is to become an industrialised country, then leaders must continue inviting and attracting investors which is part of the vision to tap into mineral resources.

Alweendo made these remarks during the Namibia-Korea Energy Resources Business Forum yesterday in Windhoek.

The Minister stressed that Namibia will only allow investments into its critical raw minerals to be exploited on a win-win outcome.

He said that gone are the days, where the country’s valuable minerals get chipped out of the country and refined elsewhere without value addition, for this reason, Alweendo stated that the government will only entertain investors who are willing to ensure that a win-win situation is attained.

“We have resources to realise the energy transition from fuel to green energy to minimise climate change. However, given the history of mineral exploitation, we are saying, if we are going to do that, we will not allow that again, we only want like-minded investors,” explained the Minister.

Adding that it is for this reason that Namibia has embarked on a solar and wind journey, to produce green hydrogen while also exploring the recent discovery of oil and gas. With all the resources at Namibia’s disposal, there should be improvement in the country’s economy.

Alweendo believes that in countries like Namibia when it comes to climate emissions, it does not even reach one percent of contributing to air pollution. He is therefore, of the opinion that the discovery of oil and gas should not be used against developing countries, but rather be allowed to use the resources to benefit them while they continue to transition from fossil fuel to clean energy.

Meanwhile, the Republic of Korea Secretary General of the Bid Committee for World Expo 2023 and Special Presidential Envoy Yoon Sang Jick, reiterated that Korea is ready to partner with any country for the benefit of both countries, and his country is looking for a win-win situation.

He backed the notion that foreign countries only come to explore African countries’ minerals without adding value, with an emphasis that Korea offers numerous expertise such as high-tech industries, hence its vision to detach itself from depending on other countries for energy supply by partnering with countries like Namibia with resources which Korea wants to explore and sharing the success stories via a mutually beneficial relationship.

Moreover, Sang Jick says Korea is interested in prolonging the partnership between the two countries, to ensure stable procurement of critical raw minerals, as Korea is regarded as one of the leading countries in Information Technology and Artificial intelligence, and these are resources that Namibia does not have but can benefit from through such partnerships. “We want to share our success stories in this period of energy transition to address climate issues, hence Africa has become very important, “said Sang Jick.

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