BoN urges financial sector to build expertise for oil and gas opportunities
The Governor of the Bank of Namibia, Ebson Uanguta, has called on the country's financial sector to strengthen its technical expertise, governance and risk management capabilities to participate sustainably in Namibia's emerging oil and gas industry.
Staff Writer
The Governor of the Bank of Namibia, Ebson Uanguta, has called on the country’s financial sector to strengthen its technical expertise, governance and risk management capabilities to participate sustainably in Namibia’s emerging oil and gas industry.
Speaking at the Bank of Namibia’s Oil and Gas Seminar in Windhoek, Uanguta said participation in the sector must be supported by capability, as financing opportunities will extend beyond oil production into transport, logistics, engineering, accommodation, technology, infrastructure, equipment supply and professional services.
He said oil and gas projects are characterised by substantial capital requirements, long investment horizons, complex contractual arrangements, foreign currency exposures and specialised technical risks.
