In a bold step forward for Namibia’s energy future, the Petroleum Training and Education Fund (PETROFUND) and FirstRand Namibia, encompassing RMB Namibia, FNB Business and FNB Retail officially signed a transformative Memorandum of Understanding (MOU) during the Namibia Oil and Gas Conference on Wednesday in Windhoek. PETROFUND Chief Executive Officer (CEO) Nillian Mulemi and FirstRand Namibia CEO Conrad Dempsey led this historic moment, cementing a partnership rooted in shared vision and ambition for a thriving, inclusive oil and gas sector.
This collaborative alliance is more than a signature on paper; it is a joint commitment to unlock Namibian potential through robust capacity building, targeted upskilling and the broad empowerment of local talent and suppliers. PETROFUND and FirstRand Namibia recognise the immense opportunity presented by the country’s burgeoning upstream oil and gas landscape. Together, they are determined to ensure Namibians are not just beneficiaries but active architects of this national growth story.
Central to this partnership is the enhancement of local supplier capabilities. By equipping Namibian businesses and professionals with world-class training and resources, PETROFUND and FirstRand Namibia aim to cultivate a new generation of industry leaders, enabling in-country value retention and amplifying the nation’s economic potential.
This shared mission is underpinned by the Oil and Gas SteerCo’s in-principle approval for a co-sponsorship package totalling N$1,000,000.00, structured as N$500,000.00 annually over two years. This multi-year investment stands as a testament to the unwavering dedication of both parties to advancing skills, innovation and long-term prosperity within Namibia’s petroleum sector.
Reflecting on the signing, Conrad Dempsey, CEO of FirstRand Namibia noted that, “at FirstRand Namibia, we recognise that the real value of Namibia’s oil and gas opportunity lies not only in resources, but in people. This partnership with PETROFUND reflects our long-term commitment to developing local capacity by supporting skills development, strengthening local suppliers and helping to retain in-country value. We are proud to contribute to building a future where Namibians are equipped to lead in their own energy story.”
During the signing ceremony, Nillian Mulemi, CEO of PETROFUND stated that “This partnership with FirstRand Namibia is a significant milestone in our mission to build a skilled and competitive Namibian workforce in Namibia’s petroleum industry. What stands out is not just the local financial institution’s traditional role of safeguarding wealth through innovating solutions, but FirstRand Namibia and its partners’ encompassing RMB Namibia, FNB Business and FNB Retail’s bold commitment to extend financial support to only develop the sector’s workforce through education and training but also developing local suppliers as key pillars for retaining the wealth of the sector in the country. Together, we are creating pathways for Namibians to participate in and benefit from this economy-transforming industry meaningfully.”
This partnership marks a defining moment for Namibia’s energy sector. By joining forces, PETROFUND and FirstRand Namibia are not only investing in skills development and supplier empowerment but are also sending a powerful message of unity and purposeful collaboration.
This partnership marks more than the signing of an MoU, it signals a bold commitment to Namibia’s future. PETROFUND and FirstRand Namibia are joining forces to unlock opportunity, ignite potential and build the human capital that will power the nation’s petroleum story for generations to come.