The Petroleum Training and Education Fund (PETROFUND) and FirstRand Namibia, which includes RMB Namibia, FNB Business and FNB Retail, have signed a Memorandum of Understanding (MoU) aimed at strengthening local capacity in the oil and gas sector.
The signing took place on Wednesday during the Namibia Oil and Gas Conference in Windhoek.
Under the agreement, the two organisations will work together to enhance skills development, support local suppliers and retain more value within Namibia’s economy. The partnership has the in-principle backing of the Oil and Gas SteerCo, which has approved a co-sponsorship package of N$1 million, to be paid in two annual instalments of N$500,000.
Conrad Dempsey, CEO of FirstRand Namibia, said the country’s oil and gas potential rests on its people.
“At FirstRand Namibia, we recognise that the real value of Namibia’s oil and gas opportunity lies not only in resources, but in people,” he said.
“This partnership with PETROFUND reflects our long-term commitment to developing local capacity by supporting skills development, strengthening local suppliers and helping to retain in-country value. We are proud to contribute to building a future where Namibians are equipped to lead in their own energy story.”
PETROFUND CEO, Nillian Mulemi, described the partnership as “a significant milestone” in the organisation’s mission to build a skilled and competitive workforce in the petroleum industry.
“What stands out is not just the local financial institution’s traditional role of safeguarding wealth through innovating solutions, but FirstRand Namibia and its partners’ bold commitment to extend financial support to not only develop the sector’s workforce through education and training but also developing local suppliers as key pillars for retaining the wealth of the sector in the country,” she said.
“Together, we are creating pathways for Namibians to participate in and benefit from this economy-transforming industry meaningfully.”
