Bank Windhoek’s Chief Treasurer Claire Hobbs has revealed that Namibia is now fast tracking its economic growth through direct foreign investment following the recent discovery of oil and gas and lithium in the country.
Hobbs said this at a recent stakeholder event held at Walvis Bay where she highlighted that the city remains significant due to the substantial investment in the harbour and related infrastructure, as well as the work being done in developing the Walvis Bay Corridor.
She further stated that Walvis Bay stands to benefit immensely by facilitating the export of these commodities – oil, gas and lithium – while continuing to act as the logistics hub for neighbouring countries.
Turning to climate change, Hobbs said its effects affect everyone with a cruel contrast, both nationally and internationally.
She noted that Namibia is taking significant steps to turn the tide of climate change, including the commitment to reducing its carbon emissions by 91% over the next five years and reaching net zero by 2050.
“Namibia owes itself to be energy-secure and to reach its goals to become and remain competitive on the continent and globally. Bank Windhoek is poised to partner with our clients who want to be part of making that difference,” she urged.
While advocating for the move to sustainable and renewable energy, Hobbs pointed out that Namibia must also recognise that oil and gas are essential to transition energy sources.
“As we journey together toward an energy-independent future, we stand to gain by meeting increasing international demand for energy and commodities while working towards Namibia’s growth and the prosperity of our people,” she said.
At the event, Bank Windhoek’s Executive Officer of Marketing and Corporate Communication Services, Jacquiline Pack, hosted the speakers, who included Cirrus Capital co-founder, Rowland Brown.
Brown gave an economic overview of what can be expected over the coming months locally, regionally, and to what extent global economic predictions impact Namibia and its operations.
