THE Bank of Namibia is hosting its 23rd annual symposium in the capital today under the theme: ‘Maximising Economic Growth from Renewable and Non-Renewable Energy Sources in Namibia’.
The symposium will explore how Namibia can ensure maximum benefit from renewable and non-renewable resources, and will cover the recent discoveries in oil and gas and green hydrogen.
Extractive activities, including oil exploration, have several social and political impacts, and oil, christened “black gold,” has over the years fuelled the global economy, making it an important point of discussion.
“Due to the enormous financial resources that can accrue from this industry, the discovery of oil in any location, particularly developing countries, is greeted with great optimism as it positively impacts development by creating jobs and entrepreneurship and providing vital infrastructure for remote communities, such as roads and electricity. The dialogue will review possible options for the country to ensure ownership and maximum benefit for all Namibians,” said the bank in its invitation note.
On the other hand, green hydrogen, produced through renewable resources such as solar and wind, holds significant promise in meeting the world’s future energy demands.
As Namibia continues to rely heavily on imports from neighbouring countries, the solar, wind, water and biomass are some renewable energy sources currently being explored and developed in the country.
Industry experts will discuss and address critical challenges, benefits and new initiatives that will enable the economic viability of these resources.
Speakers lined up at the symposium include central bank director Emma Haiyambo, Petter Nore, Anders Pedersen, mines and energy minister Tom Alweendo, James Mnyupe and Naadira Ogeer.