Namibia Urged to Prepare Financial Sector for Oil and Gas Boom

Namibia must act now to ensure its financial sector is ready to support the country’s emerging oil and gas industry, former Minister of Mines and Energy and former Governor of the Bank of Namibia, Hon. Tom Alweendo, has urged.

Delivering the keynote address at a Bank of Namibia seminar titled From Discovery to Development: Preparing Namibia’s Financial Sector for a Sustainable Oil and Gas Economy, Alweendo said the country’s recent offshore discoveries have created unprecedented opportunities, but warned that natural resources alone will not guarantee lasting prosperity.