The Namibian government said it’s taking steps to increase local ownership in its mining sector and build capacity in the emerging oil, gas and green energy industries.

Namibian Deputy Prime Minister and Minister of Industries, Mines and Energy Natangue Ithete told officials that the step is to promote inclusive economic development.

At a planning meeting in Swakopmund, the ministers said the country is at a “transformative juncture, and local businesses must play a central role in shaping Namibia’s energy and mining future.

“Any mineral rights granted must demonstrate that it is partly owned by Namibians,” he said.

Mr Ithete noted that the southern African country has collected 5.96 billion Namibian dollars (about $309 million) in royalties from mining activities in the last three years.

He added that this was made possible through regular mine inspections and audits to verify mineral exports to ensure the government receives its fair share.

Namibia has recently seen increased interest in its oil and gas potential alongside significant investment in green hydrogen and renewable energy.

“Building local capacity in these areas is essential to ensure long-term benefits for citizens.

“These industries must empower local businesses and individuals, in line with the vision articulated by President Netumbo Nandi-Ndaitwah,” he said.

(Xinhua/NAN)