The Ministry of Mines and Energy of Namibia that it has partnered with Energy Capital and Power to create and publish an official investment report for the energy and mineral resources sectors.
The country’s critical resources have been identified as strategic for Africa’s energy transition, opening lucrative opportunities for investors.
According to the announcement, Namibia has become one of Africa’s most exciting upstream investment destinations as a result of three major oil discoveries over the past year.
Since these finds, the country has seen widespread interest from a suite of regional and global players, with the government putting in place a clear action plan to generate new investment and create a globally competitive energy market in Namibia.
The action plan also includes the Kudu license offshore Namibia that will be developed to supply a gas-to-power facility to create energy security. The Kudu gas development project will be tied into Venus and Graff-1 projects, thereby increasing production capacity.
The country has also been identified as a globally-leading green hydrogen market owing to its renewable energy resources and strategic position in high-demand markets in Africa and Europe. Besides the new energy prospects, Namibia is the fourth-biggest producer of uranium worldwide as well as a leading producer of zinc and diamonds. Participating in the creation of the report are stakeholders that include regional energy ministries and policymakers, the Namibian Government, both independent and international oil companies, as well as industry experts, investors and analysts.
The report will eventually be distributed at a conference that will be hosted by Energy Capital and Power at various events in South Sudan, Angola, Mauritania and South Africa.
The report will showcase upcoming investment opportunities, how to get involved in the sector, the key institutions and actors to know and the regulatory framework established in Namibia.