Namibia to Scoop N$100M in Concession Fees Soon – Geingob
President Hage Geingob of Namibia has said the green hydrogen industry would strengthen the country’s renewable energy footprint, which will result in competitive electricity tariffs.
In his New Year’s message delivered on Saturday, Geingob said his official trips to the United States, as well as to the COP26 United Nations Climate Change Conference signified progress in marketing Namibia’s potential for green hydrogen production.
“In 2022 we shall secure the first N$100 million in concession fees from the preferred bidder, bringing immediate relief to the fiscus, and translating the vision of a synthetic fuels industry into immediate foreign direct investment flows,” he said.
The president said Namibia’s green hydrogen strategy would unlock greater investment, and would establish the country as a regional and global decarbonisation champion.
“In 2022, economic recovery and growth, employment creation, and the provision of basics such as housing and sanitation will continue to be key priorities,” he stated.
Geingob noted that, although government spending is currently limited, the country still has a stable governance architecture, a strong macroeconomic framework, and excellent infrastructure.
“Namibia has many unique and untapped economic opportunities which have the potential to attract meaningful investments and change the face of our economy.
“To turn opportunities into tangible outcomes… we must refocus our attention to maximize Namibia’s investment potential” he said.
He said the government is committed to providing an enabling environment for the private sector to unlock opportunities, and to prioritizing key economic interventions through the Harambee Prosperity Plan II.
This would jump-start Namibia’s economic recovery and growth, and create employment for the youth in particular, he said.
The president said the workplace and health and safety protocols need to be revisited to ensure the country is better prepared to provide workers with medical care.
“Let me commend our frontline workers, who put themselves in harm’s way to ensure lives are saved.
“I commend the first responders and members of the uniformed services, Cabinet ministers, and the minister of health for their invaluable contributions.
“It is due to the collective high level of vigilance that we managed to stave off the worst effects of the pandemic.
“With confidence in our future, with faith in our brave people, and with profound love for our country, I wish you all a happy and prosperous 2022,” he said.