Unlocking Africa’s vast oil and gas potential
Africa’s oil and gas sector is poised for accelerated growth as demand for critical natural resources spikes with global demand inching up. CNBC Africa spoke to Ndapwilapo Selma Shimutwikeni, Natural Resources Policy Expert, Richafrica Consultancy for more on key trends shaping East and Southern Africa.
Wed, 05 Jun 2024 10:37:30 GMT
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- The importance of local content to ensure active participation of Namibians in the energy sector and maintain an attractive investment climate that has attracted international companies.
- The necessity of an energy mix and harnessing renewable sources to support Namibia's contribution to Southern Africa's energy challenges.
- The significance of upskilling Namibians and implementing a local content policy to secure local involvement in the oil and gas industry as the country gears up for oil production in 2030.
Africa's oil and gas sector is set for rapid growth as the demand for critical natural resources increases with global demand rising. Ndapwilapo Selma Shimutwikeni, a Natural Resources Policy Expert at Richafrica Consultancy, recently shared insights on the key trends shaping East and Southern Africa. The sixth edition of the Namibia International Energy Conference, themed 'Reimagine Resource-Rich Namibia, Turning Possibilities into Prosperity,' concluded with discussions on crucial outcomes that are pivotal for the region's energy sector. One of the significant takeaways was the emphasis on local content to ensure active participation of Namibians across the energy value chain, fostering an attractive investment climate that has attracted leading international oil and service companies to Namibia. The need for an energy mix, harnessing renewable energy potential, and upskilling Namibians to engage in the oil and gas industry were also highlighted. The establishment of the Petro Fund in 1992 by the Namibian government to educate citizens for sector participation further underscores the nation's commitment to the industry.
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