President Hage Geingob has signed a Memorandum of Understanding (MoU) with the European Union (EU) aimed at establishing a strategic partnership on sustainable raw materials and renewable hydrogen for economic enhancements for both parties.
Signing the MoU during the United Nations Climate Change Conference (COP27) underway in Sharm El-Sheikh, Egypt on Tuesday, Geingob said the MoU is a politically and legally non-binding document that captures and outlines Namibia and the EU’s joint commitment to the development of a secure and sustainable supply of raw materials and value chains.
Geingob said Namibia, through the Harambee Prosperity Plan II, has outlined its vision and ambition to position itself as a global pioneer and leader in the emerging market for green hydrogen made from renewable electricity and harnessing abundant solar and wind resources.
“Namibia’s view is that we have a unique opportunity to leverage our natural resources – be it the sun, wind or minerals – to attract much-needed foreign direct investment and create new sustainable engines of economic growth for current and future generations,” the president said.
He noted the government will pursue the local beneficiation of minerals and increase mineral processing activities in the country in order to contribute towards industrialisation and promote job creation, skills development, technology transfer and economic diversification.
President Geingob further indicated that it is Namibia’s aim to achieve a successful and just energy transition which is meeting international climate goals and playing a role in decarbonising Africa as well as the world through the production and export of renewable hydrogen and its derivatives.
“It is our hope that the deliverables agreed will, among other things, promote and identify funding for local value addition, capacity building, research and development, institutional collaboration and exchange, new trade and investment opportunities, and business linkages between Namibian and EU companies,” he said.
The MoU was signed by European Commission President Ursula von der Leyen.
COP27 is being held from 06 to 18 November.
Source: The Namibian Press Agency
