Namibia’s preparedness to capture opportunities from its emerging oil and gas industry will soon be measured through a new independent business readiness index, as policymakers and industry leaders seek to determine whether local firms are equipped to participate in the sector before first oil production begins.
The Namibia Business Readiness Index (NBRI), which will be launched at this year’s Namibia Oil and Gas Conference, is intended to provide the first independent assessment of how prepared Namibian businesses are to secure and execute contracts in the petroleum industry.
Economic Association of Namibia Chairperson Jason Kasuto said the initiative represents a shift from broad discussions around local content towards measurable indicators of industry readiness.
“We are going to measure what readiness truly looks like. The Namibia Oil and Gas Conference is commissioning the Namibia Business Readiness Index, a first independent measure of how ready Namibian businesses really are to win and deliver work in oil and gas,” Kasuto said.
According to Kasuto, the index will move beyond simply counting registered suppliers and instead assess whether businesses possess the skills, capacity, systems, financing and operational capabilities required to compete in the sector.
“It is not another supplier survey. It does not duplicate the important baseline work that the industry is taking forward. The index measures readiness and quantifies the national dividend from closing the gap,” he said.
The index will be developed in consultation with institutions including NAMCOR, the Namibia Investment Promotion and Development Board, the Namibia Chamber of Commerce and Industry and other business organisations.
Kasuto said the findings would help identify critical gaps that need to be addressed if Namibia is to maximise local participation in the oil and gas value chain.
Organisers aim to release preliminary findings during the conference in August, with the full report expected before the end of the year.
The initiative comes as Namibia moves closer to major investment decisions in the offshore petroleum sector and intensifies efforts to ensure local businesses benefit from the industry’s anticipated growth.
