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Banker Says Namibia an Attractive FDI Prospect

Namibia is becoming an attractive prospect for foreign direct investment, with the recent discovery of oil and gas off its coast and the discovery of highly sought-after lithium fast-tracking it for economic growth the country needs.

This was said by Bank Windhoek’s chief treasurer Claire Hobbs at a stakeholder breakfast meeting for coastal customers at Walvis Bay on Friday.

“After significant investment in the harbour and related infrastructure, as well as the work being done in developing the Walvis Bay Corridor, Walvis Bay remains significant and stands to contribute to and benefit immensely by facilitating the export of these commodities – oil, gas and lithium – while continuing to act as the logistics hub for our neighbours,” she said.

Hobbs said the world finds itself in a precarious state as climate change effects touch everyone, both nationally and internationally.

“Namibia is taking significant steps towards turning the tide of climate change. It has committed to reducing its carbon emissions by 91% over the next five years and reaching net zero by 2050. Its significant contribution is the move towards alternative sources of energy generation and the potential to pioneer green hydrogen on the continent,” she said.

“Bank Windhoek is poised to partner with clients who want to be part of making that difference,” she said, adding that while the country advocates the move to sustainable and renewable energy, it must also recognise that oil and gas are essential to transition energy sources.

“As we journey together toward an energy-independent future, we stand to gain by meeting increasing international demand for energy and commodities, while working towards Namibia’s growth and the prosperity of our people,” said Hobbs.

Rowland Brown, one of Namibia’s top economists, gave an economic overview on what can be expected over the coming months locally, regionally and to what extent the global economic predictions impact Namibia and its operations.

Managing director at Seawork Fish Processor Jürgen Sander expressed appreciation that Bank Windhoek had brought subject matter experts to an information-sharing session.

“So many factors impact our fishing sector. To have an economist forecast a monetary overview settles our nerves since it prepares us for what to expect. I encourage Bank Windhoek to continue with such sessions in the coastal region,” said Sander.

Source : TheNamibian