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As Namibia’s energy sector surges ahead with exciting oil and gas discoveries, industry leaders gathered at this year’s Namibia International Energy Conference (NIEC) to issue a clear call, local businesses must be at the center of the country’s energy future.
Several key players in the industry underlined during a panel session on “Building Local Business Capacity for Energy Sector Participation” on April 25 that inclusive growth, strategic alliances, and enabling policies are absolutely vital for Namibians to gain significantly from the expanding energy sector.
Moderated by Oneyka-Cindy Ojogbo, Deputy Managing Partner at CLG, the session brought together key players including Melanie Harrison, Country Leader at Deloitte Namibia; Jorge de Morais, General Manager of Kaeso Energy Services; and Precious Ehihamen, Head of Research and Intelligence at Moneda Invest.
“We wanted to bring different players into one conversation to really break down where the gaps are and how Namibian businesses can begin to plug into the oil and gas value chain,” Ojogbo stated. This is about more than money. It’s about involvement.
One of the main ideas that came out was the need of balancing the desire to attract foreign investment with the requirement of guaranteeing genuine rewards for local people.
Namibia has to create laws and regulations facilitating foreign investors’ market access. “But at the same time, the nation has to hold them accountable; they should be responsible for providing advantages to the local economy.”
Deloitte Namibia is assisting to build that basis. The firm is charting the present capacity of Namibian businesses and pointing up locations needing improvement to assist the expanding energy sector by means of its Industrial Baseline Study.
Moneda Invest focuses on the financial side helping small and medium businesses (SMEs). Moneda, along with First National Bank and Ino Capital Investments, has just introduced the Local Accelerator Program, a project meant to let Namibian SMEs expand and play active role in the oil, gas, and more general energy industries.
Ehihamen stated, “We are building a pipeline of investable companies able to meet the needs of this expanding industry.” It’s about providing them networks, financing, and tools.
For a long time, Kaeso Energy Services has pushed for more local involvement. The firm often participates in forums meant to increase capacity as well as NIEC and other such initiatives. It also enables Namibian companies to get technology, reach customers, and access funding necessary tools for vying in this sector.
“Namibians can and should fulfil contracts, offer solutions, and influence the industry,” de Morais said.
There is obviously a drive to make sure the expansion helps everyone as Namibia sets itself as a developing energy center in Africa. The building blocks are being set from basic research and funding assistance to policy suggestions and practical training.
Namibia is on pace not just for an energy boom but for a more inclusive and empowered future if the enthusiasm and ideas emerging from this year’s conference are any indication.
