Nairobi:Namibia's growing oil and gas sector is being urged to create sustainable economic value by enhancing skills development, enterprise growth, local ownership, technology transfer, and indigenous participation.

According to Namibia Press Agency, Jackson Nangolo, the Senior Investment Analyst for Energy at the Namibia Investment Promotion and Development Board (NIPDB), emphasized the distinction between local content and indigenous participation. He noted that while local content seeks to increase Namibian involvement in employment and procurement, indigenous participation goes further by focusing on ownership, control, and benefits derived from economic activities in the petroleum industry.

Nangolo highlighted that Namibia's developing local content framework should support employment, local procurement, and enterprise development. This framework should also promote skills and technology transfer, research, innovation, and Namibian ownership. He stressed that local content should be defined not just by company registration in Namibia, but by the capabilities built through local business contracts.

He pointed out that Namibian companies should leverage petroleum contracts to gain equipment, train employees, and develop technical expertise. This would enable them to compete for more complex contracts and ensure that local content leads to meaningful indigenous participation.

Nangolo also mentioned the need for international companies to provide expertise and technology, facilitating Namibians' exposure to international standards and training. He stated that ownership must be paired with operational control, technical skills, and financial capacity, with transparency in beneficial ownership being crucial.

He further explained that the skills and capabilities developed in the petroleum industry could benefit other sectors, such as mining, renewable energy, and manufacturing. Nangolo concluded that the true success of Namibia's oil and gas industry will be measured by the capabilities, ownership, and wealth built around the industry, urging a focus on making petroleum contracts conducive to the growth of competitive Namibian enterprises and skills applicable beyond the oil and gas projects.