{"id":33063,"date":"2022-11-04T17:05:04","date_gmt":"2022-11-04T17:05:04","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy"},"modified":"2022-11-04T17:15:30","modified_gmt":"2022-11-04T17:15:30","slug":"gawaxab-advises-finalisation-of-local-content-policy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy","title":{"rendered":"!Gawaxab advises finalisation of local content policy"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Bank of Namibia (BoN) governor Johannes \u01c3Gawaxab said ensuring optimal local content in the exploitation of resources must remain prominent. He thus urged for the finalisation and adoption of the country\u2019s local content policy, which he said is of paramount importance.<\/p>\n

\u201cFacilitating local content and participation in the oil and gas value chains has the potential to ensure broad-based benefits from these resources. To avoid and prevent the much-dreaded \u201cresource curse\u201d that has plagued many developing countries with newly-discovered natural resources, the private sector will need to capitalise on these opportunities,\u201d the governor observed.<\/p>\n

\u01c3Gawaxab made these remarks yesterday during BoN\u2019s 23rd annual symposium held in the capital under the theme \u201cMaximising economic growth from renewable and non-renewable energy sources in Namibia\u201d.<\/p>\n

The annual symposium is a forum designed to bring together policy experts, academics and economic development stakeholders to discuss economic and policy issues on the identified topic.<\/p>\n

The governor noted that the aim is to contribute to the crafting of policies and recommendations which will allow the country to exploit the benefits of renewable and non-renewable energy, and review possible options for the country to ensure the appropriate equitable participation of Namibians in these opportunities, now and for the future. \u201cThe critical challenge for us is to harness the oil, gas and green hydrogen resources by making the right strategic choices, and synchronising their implementation in a context that improves the lives of the poor through increased investment in health, education, physical infrastructure and other non-oil sectors,\u201d!Gawaxab pointed out.<\/p>\n

He further touched on transparency and accountability in allocating resources. \u201cThe allocation of these resources should be in a transparent manner; it should be done through an auction or open market bidding. Well-designed auctions can promote the efficient allocation<\/p>\n

of resources without requiring governments to have full prior knowledge of resource values or costs\u201d.<\/p>\n

At the same event, energy minister Tom Alweendo pointed out that Namibia occupies a unique position in the global energy transition. Given the recent oil discoveries, Namibia is fortunate to have both renewable and non-renewable energy sources.<\/p>\n

The mines and energy minister said Namibia faces many socio-economic challenges, but the picture can be changed by using natural resources.<\/p>\n

\u201cWe must continue to strengthen the culture of effective governance, and to foster ethical and professional<\/p>\n

leadership. We will do better and succeed faster when strong governance structures and ethical conduct becomes a must in our society,\u201d stated<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Bank of Namibia (BoN) governor Johannes \u01c3Gawaxab said ensuring optimal local content in the exploitation of resources must remain prominent. He thus urged for the finalisation and adoption of the country\u2019s local content policy, which he said is of paramount importance. \u201cFacilitating local content and participation in the oil and gas value […]<\/p>\n","protected":false},"author":84,"featured_media":33062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,12],"tags":[234,236,233],"class_list":["post-33063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-policy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\n!Gawaxab advises finalisation of local content policy - Namibia<\/title>\n<meta name=\"description\" content=\"Bank of Namibia (BoN) governor Johannes \u01c3Gawaxab said ensuring optimal local content in the exploitation of resources mu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"!Gawaxab advises finalisation of local content policy\" \/>\n<meta property=\"og:description\" content=\"Bank of Namibia (BoN) governor Johannes \u01c3Gawaxab said ensuring optimal local content in the exploitation of resources mu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-04T17:05:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-04T17:15:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_9-6365488d1da6c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"!Gawaxab advises finalisation of local content policy\",\"datePublished\":\"2022-11-04T17:05:04+00:00\",\"dateModified\":\"2022-11-04T17:15:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\"},\"wordCount\":423,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_9-6365488d1da6c.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/gawaxab-advises-finalisation-of-local-content-policy\",\"name\":\"!Gawaxab advises finalisation of local content policy - 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