The Bank of Namibia (BoN) and the Ministry of Mines and Energy have signed a Memorandum of Understanding (MOU) to establish a framework for collaboration between the two institutions in areas related to energy, oil and gas critical raw minerals as well as mineral resources management.
The cooperation will promote collaboration in activities related to policy development, capacity building, information sharing and research, amongst others.
“This Agreement mirrors our shared dedication to leveraging synergies between the financial and energy sectors. By pooling our expertise and resources together, we aim to contribute to the sustainable development of Namibia, promoting economic resilience and ensuring the responsible management of our national resources,” Governor of the Bank of Namibia Johannes !Gawaxab said.
Earlier this year, the Bank of Namibia collaborated with the Mine and Energy Ministry on participating in working visit to Norway to draw insights from the country’s prudent approach to developing its oil and gas sectors and facilitated an engagement with the Norwegian policymakers and private sector representatives on best practices in the oil and gas sector.
“The Ministry of Mines and Energy is excited to embark on this collaborative journey with the Bank of Namibia. Our joint efforts will enhance policy formulation and development, contributing to the effective management of data, and ensuring informed decision-making. Through this partnership, we aim to create a conducive environment for sustainable development in the energy and oil and gas sectors”, Mine and Energy. Minister, Tom Alweendo said.
The collaboration is expected to yield positive outcomes for Namibia, setting a precedent for effective partnerships in the emerging industries in the sector.
