Mbumba vows to combat corruption in energy sector
President Nangolo Mbumba has stressed government's determination to tackle corruption and protect Namibia’s nascent energy sector with stringent laws - amid concerns regarding malpractice in the industry.
Mbumba, who took over the reins following president Hage Geingob’s death earlier this month, highlighted the economic potential of the energy sector while stressing the importance of transparency and accountability to attract investment and ensure sustainable growth.
“Some of our citizens have expressed concerns regarding corruption in the budding energy sector. Let me assure all Namibians that in line with our government’s clear resolve to promote accountability and transparency, we will continue to strengthen the policy measures aimed to fight corruption," he said yesterday as he addressed the first Cabinet meeting for the year.
“Therefore, I would like to call upon our law enforcement agencies, the Namibian Police, the Anti-Corruption Commission, the Financial Intelligence Centre, the Judiciary, Parliament, the media and all our citizens to continue to play their respective roles to keep Namibia transparent and corruption-free.
“Maintaining a conducive environment in which accountability and transparency thrive - to prevent corruption from taking root - is a patriotic obligation for all of us,” he said.
Unfolding economic boom
Mbumba also mentioned that Namibia is awaiting final announcements regarding the Total Energies Venus-1, Shell Graff-1 and Jonker-IX oil blocks, adding that it has been estimated that these three blocks collectively hold 2.5 billion barrels of oil.
“Recently, Galp Energeia of Portugal, Custos Energy and Namcor have also announced new oil discoveries in the Mopane 2X well. We want Namibians to actively participate and benefit from the unfolding economic boom. The Welwitschia Sovereign Wealth Fund that we established to benefit our citizens, including eight generations to come, will play a vital role in ensuring inter-generational equity.”
He further highlighted that green hydrogen is set to play a major role in the transformation of the Namibian economy, adding that its development is expected to stimulate further growth in adjacent industries, including logistics, agriculture and sustainable manufacturing.
Three green hydrogen pilot projects are due to start operations this year.
[email protected]
Mbumba, who took over the reins following president Hage Geingob’s death earlier this month, highlighted the economic potential of the energy sector while stressing the importance of transparency and accountability to attract investment and ensure sustainable growth.
“Some of our citizens have expressed concerns regarding corruption in the budding energy sector. Let me assure all Namibians that in line with our government’s clear resolve to promote accountability and transparency, we will continue to strengthen the policy measures aimed to fight corruption," he said yesterday as he addressed the first Cabinet meeting for the year.
“Therefore, I would like to call upon our law enforcement agencies, the Namibian Police, the Anti-Corruption Commission, the Financial Intelligence Centre, the Judiciary, Parliament, the media and all our citizens to continue to play their respective roles to keep Namibia transparent and corruption-free.
“Maintaining a conducive environment in which accountability and transparency thrive - to prevent corruption from taking root - is a patriotic obligation for all of us,” he said.
Unfolding economic boom
Mbumba also mentioned that Namibia is awaiting final announcements regarding the Total Energies Venus-1, Shell Graff-1 and Jonker-IX oil blocks, adding that it has been estimated that these three blocks collectively hold 2.5 billion barrels of oil.
“Recently, Galp Energeia of Portugal, Custos Energy and Namcor have also announced new oil discoveries in the Mopane 2X well. We want Namibians to actively participate and benefit from the unfolding economic boom. The Welwitschia Sovereign Wealth Fund that we established to benefit our citizens, including eight generations to come, will play a vital role in ensuring inter-generational equity.”
He further highlighted that green hydrogen is set to play a major role in the transformation of the Namibian economy, adding that its development is expected to stimulate further growth in adjacent industries, including logistics, agriculture and sustainable manufacturing.
Three green hydrogen pilot projects are due to start operations this year.
[email protected]
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