Chief Executive Officer of FNB Commercial, Sepo Haihambo has said that if Namibia as a nation plays its cards right, it could become a heavyweight in the global energy market.
Haihambo was speaking in view of recent major oil discoveries in Namibia at an Economic Breakfast hosted by FNB Commercial Namibia last week themed “Gearing up for the Future, 2025 and Beyond”.
“This calls for cautious optimism, but the numbers and the facts don’t lie, and we believe that our country has been presented with a once-in-a-generation opportunity to transform Namibia and the lives of our people,” she said.
FNB is committed to providing excellent value and support to its business and enterprise banking clients. The Economic Breakfast forms part of this offering. The event was well attended and brought together key stakeholders, industry experts, and professionals to discuss the promising future of Namibia’s economy, particularly considering the emerging opportunities in the oil and gas sector. As well as in the renewable energy space.
“By creating strategic and smart partnerships, ensuring and securing investments for local and international companies, and leveraging our local knowledge and networks, we as FNB can play a vital role in unlocking the full potential of these sectors and support the development of thriving local businesses,” Haihambo said.
Senior Associate of ENS Namibia, Stefanie Busch provided an overview of local content in Namibia’s emerging petroleum sector. She stated that incorporating local content is crucial for maximizing the benefits of the petroleum industry for Namibians. “Local content requirements should support viable, sustainable petroleum industry over time to benefit Namibia and its people,” said Ms. Busch. “Policies should be developed in a manner that they do not delay project implementation or compromise the high standard to which the industry must be held,” she added.
Head RMB Markets of RMB Namibia, Ian Erlank touched on the topic of Import & export and other exchange control developments. He noted, “Namibia’s import sector is expanding as a result of the developments that have been taking place in the country. He further added that “A portion of the changes are coming, and the entire idea surrounding the exchange control manual is changing that is being phased out, overall liberalization of what has just been the flow moving away from negative bias to positive bias.”
In her presentation on the future of tax, Gerda Brand, Tax Director at Deloitte Namibia, emphasized the importance of understanding one’s position within the value chain, and tax planning around it given proposed amendments. In addition, she empasized that “Companies need to start having a broader understanding of tax reporting.”
As the country navigates these opportunities, businesses and individuals must strategically position themselves within the value chain to maximize their economic benefits while ensuring compliance with evolving tax regulations.
The Economic Breakfast provided a platform for robust discussions and knowledge sharing, fostering a sense of optimism and strategic foresight among attendees. As Namibia stands on the threshold of significant economic advancements, FNB Commercial reaffirms its commitment to being a reliable partner in the nation’s growth, ensuring that local businesses and communities benefit from the emerging opportunities.