Namibian President Netumbo Nandi-Ndaitwah has taken a significant step by transferring the management of the strategic oil and gas sector to the Office of the President. Following a trend that is beginning to take hold in West and Southern Africa, Namibia is following in the footsteps of leaders such as Ibrahim Traoré in Burkina Faso, who have opted for direct control of natural resources in pursuit of economic sovereignty.
This political shift comes at a time of intensifying regional contacts to articulate new African energy alliances. Namibia and Burkina Faso have initiated talks with other neighbouring countries with the aim of establishing cooperation mechanisms to negotiate in a coordinated manner with major international players, such as multinational companies and European powers, including Germany, which has historically maintained a strong presence in the region.
The economic projections for Namibia are ambitious: oil and gas could bring in around 11.5 billion Namibian dollars annually and double the national GDP by 2040. In this new scenario, the president has appointed Natangwe Ithete as head of the Ministry of Mines, Energy and Industrialisation, who will be responsible for promoting the strategy of internal resource development and strengthening Namibia's negotiating position on the global energy stage. Initiatives such as the Venus project, with production scheduled to start in 2030, will be key to this rebalancing of power.
Source: energyinafrica.com, @ibrahim_traore_news