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Alweendo calls for mutually beneficial investments

2022-08-19  Maihapa Ndjavera

Alweendo calls for mutually beneficial investments

Mines minister Tom Alweendo has called on investors to ensure their investments in the green hydrogen industry is mutually beneficial for all parties involved. He was speaking at the conclusion of the two-day Namibia National Green Hydrogen Conference 2022 this week. 

The conference was a large-scale public consultation on Namibia’s green hydrogen ecosystem, with the goal to deliberate on the potential, opportunities and risks of establishing
a green hydrogen industry in the country. It started on Tuesday, and concluded on Wednesday. Namibia has identified green hydrogen as one of the economic recovery plans in the second Harambee Prosperity Plan.  

“We are here in this journey, and we want to assure you that your investment will yield the necessary returns. But,
we are going to ask you one thing, and that is that your investment must be mutually beneficial for both parties,” Alweendo stressed. 

He added: “Specifically, your investment must take the issue of local content seriously. It is through local content that we are going to have a dynamic country, and when you invest in a country that is more dynamic, your investment is going to be more profitable.” Alweendo observed that it is through local content and value-chain capturing that the domestic economy is going to ensure it is resilient, and that Namibians can participate.

At the same occasion, Prime Minister Saara Kuugongelwa-Amadhila said Namibia is open for business, and the new green industry has made the country lucrative for investments. 

“We not only have opportunities in green hydrogen, we have the tourism industry, among others, which investors can tap into. Therefore, I invite global investors to come to Namibia,” she enthused.

The PM further stated that Namibia is in the process of developing its national green hydrogen strategy to ensure overall direction and cohesion between new policies needed for the industry, as well as existing legislative frameworks.

2022-08-19  Maihapa Ndjavera

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