Nedbank sees ‘sweet spots’ in Namibia’s oil industry

CHAMWE KAIRA

Nedbank Group managing executive for Africa regions, Terence Sibiya, has said Nedbank is eyeing ‘sweet spots’ in Namibia’s emerging oil industry.

Sibiya said during a media session that while oil majors like Total Energy have their own overseas financiers to develop the oil projects, the ‘sweet spots’ that the Nedbank is eyeing are infrastructure funding for roads, ports infrastructure and related infrastructure.

Sibiya said the group is waiting for a final investment decision by the oil companies before considering which projects to fund.