Namibia seeks investment at African green summit

Namibia this week joined governments, investors and development partners at the African Green Hydrogen Summit in Cape Town, South Africa, where it is seeking to attract investment, strengthen regional cooperation and advance green industrialisation across Southern Africa.

The two-day summit, taking place from 15 to 16 September, comes only days after Namibia hosted the Africa Green Industries Summit, emphasising the country’s growing role in promoting green industrial development on the continent.

Speaking on the sidelines of a technical briefing ahead of the summit, Interim Head of the Namibia Green Hydrogen Programme, Joseph Mukendwa, said continental platforms such as the African Green Hydrogen Summit are important for advancing economic diplomacy, attracting investment and strengthening regional cooperation in Africa’s emerging green economy.

Mukendwa said Namibia and South Africa have an opportunity to use their respective strengths to drive green industrialisation within the Southern African Development Community (SADC).

He said closer cooperation could help build regional value chains, create new economic opportunities and position Southern Africa as a competitive producer of green products for international markets.

“Namibia and South Africa can leverage their respective strengths to advance green industrialisation within SADC, build regional value chains, create economic opportunities and position Southern Africa as a competitive producer of green products for global markets,” he said. The summit has brought together governments, development partners, investors, project developers and other stakeholders to accelerate the development of green hydrogen, Power-to-X technologies and related green industrial value chains across Africa. The meeting also produced new financing commitments for green hydrogen and green industrial development across the continent. Among the announcements was €20 million in European Union grant funding for South Africa, with the potential to unlock a further €200 million from German development bank KfW. South Africa will also receive an additional €37 million through the Global Gateway initiative.

The African Development Bank announced US$20 million in reimbursable grant funding for four green hydrogen projects in Morocco, Egypt, South Africa and Namibia.

The funding announcements reflect growing international support for Africa’s plans to move beyond exporting raw materials towards adding value through manufacturing and green industrialisation powered by renewable energy. Namibia has identified green hydrogen as one of the sectors expected to drive future economic growth by attracting investment, creating jobs and supporting industrial development.

Mukendwa said partnerships between African countries would be key to ensuring the region benefits from its renewable energy resources through value addition rather than exporting raw materials.

He said the summit provides an opportunity for African countries to strengthen cooperation, share knowledge and attract the investment needed to grow the continent’s green hydrogen industry. -pmukokobi@nepc.com.na

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