Windhoek: Genuine economic sustainability cannot be achieved by simply labelling conventional financial products as green, Minister of Industries, Mines and Energy Modestus Amutse has said, stressing that Namibia's financial frameworks must directly address the country's socioeconomic needs. Amutse made the remarks at the Second International Conference on Finance and Sustainable Business (ICFSB 2026) at the Namibia University of Science and Technology.
According to Namibia Press Agency, the conference, themed 'Rethinking Green Finance Innovations for Sustainable Business Models,' aimed to address the challenges of climate stress, reduced global capital, and domestic socioeconomic pressures. 'The Sixth National Development Plan is not merely a statement of aspiration. It is Namibia's final five-year delivery plan on the road to Vision 2030, and it places measurable obligations before the government, business, finance and academia,' Amutse remarked.
Amutse stated that by 2030, NDP6 aims for economic growth of at least 7% and a 75% employment rate. It emphasises the necessity to increase manufacturing from 10.6% to 18% of GDP, raise processed mineral exports from 46.6% to 57%, expand installed electricity capacity from 734 MW to 1,153 MW, and improve electricity access from approximately 59% to 70%.
He expressed concerns regarding Namibia's ability to fund essential infrastructure and enterprises, noting that while capital is global, risk remains local, asserting that neither public budgets nor private capital can bear the entire burden alone. He advocated for innovation in green finance to address these challenges.
'A sustainable business model for Namibia must be commercially viable, environmentally responsible and socially inclusive. If too many people remain outside employment, ownership, finance and basic services, the economy is not sustainable simply because some of its projects are green,' he said.
The minister stated that resource endowment creates opportunities, while institutions, finance, and national capacity dictate whether these opportunities are realised, adding that this highlights that Namibia's green-economy ambitions are industrial, not solely environmental.
He said the country seeks renewable energy to support mines, factories, farms and small enterprises; green hydrogen for products like green iron and fertiliser; and new industries to develop Namibian skills and suppliers.
Amutse emphasised the need to transition from discussion to design, from design to finance, and from finance to measurable development outcomes. He highlighted the government's commitment to providing policy guidance, enhancing institutions, building a credible project pipeline, and collaborating with responsible partners.
He stated that, in return, capital must exhibit patience, discipline in managing public resources, and a focus on the national value it generates.