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Home Business & Economy

Namibia to leverage critical minerals to boost regional trade, sustainable development 

by editor
September 4, 2024
in Business & Economy
8
A A

Namibia is positioning itself as a key player in the green industrial revolution by capitalising on its rich deposits of critical minerals and abundant renewable resources, Vice President Netumbo Nandi-Ndaitwah says.

She said this will be done with a strategic focus on green hydrogen and industrialisation as the country aims to boost regional trade and sustainable development.

Speaking at the Global African Hydrogen Summit on Wednesday, she said the country’s extensive mineral resources, including rare earth elements and lithium, are vital for building clean industries.

“To give you a brief synopsis of why I say so, Namibia has rich deposits of the minerals required to build clean industries, such as critical rare earth elements and lithium. We also help our Zambian neighbours trade their copper, a key ingredient for sustainable industries, with global markets,” she said. 

She further explained that the government is investing in expanding infrastructure, including port and rail facilities, to support broader trade in low-carbon goods and strengthen its economic ties with global markets.

“We have some of the best wind and solar resources in the region, close to our well-developed port and rail infrastructure and we have plans to expand those infrastructure to facilitate even broader trade in low carbon goods between our regional neighbours and our global customers,” she said.

She also said with a progressive immigration system and a young and dynamic workforce, Namibia is well-equipped to host emerging industries.

The government’s efforts align with regional and global sustainability goals, making Namibia an attractive destination for green investments and regional trade expansion.

“In a nutshell, Namibia is open for business that will make a meaningful impact to our development as it benefits the investor.  Therefore, you are all welcome to explore all the possibilities,” she said.

The country’s proactive approach includes creating new jobs, diversifying economic output, and improving electricity and clean water production, all while safeguarding its natural environment. 

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