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Nedbank invests N$350,000 in national Green Hydrogen Project

Nedbank invests N$350,000 in national Green Hydrogen Project

Nedbank Namibia recently supported the national Green Hydrogen Project with an investment of N$350,000 as the country sets its sights on the emerging green hydrogen economy.

Speaking at the official handover of the funds, Nedbank Namibia Managing Director, Martha Murorua said, “We realized just how important the green hydrogen initiatives are set to become for the economic growth of our country. Nedbank Namibia has had a vested interest in environmental sustainability, in particular, having pioneered the establishment of our Go Green Fund 22 years ago already,” she said.

The ministry will be responsible for guiding and carrying out the implementation of the green hydrogen vision for the country and has committed its resolve to accelerate progress within the sector, recognising that the development of the green hydrogen industry will require a concerted and unified effort.

The Minister of Mines and Energy, Tom Alweendo, hailed the contribution as a milestone in Namibia’s push towards a greener future. He also articulated the initiative’s national significance by stating, “This exemplifies Namibia’s unwavering dedication to establishing itself as a frontrunner among nations in becoming a global leader in the field of renewable energy. The collaborative approach that we have taken with Nedbank Namibia underscores further that our mission transcends individual interests and resonates with our collective aspirations,” Alweendo said.

Lauding the partnership, Murorua emphasized the bank’s commitment to the initiative. “We firmly believe in the viability of the Green Hydrogen and Derivatives Strategy, which is why we are contributing these funds towards the ultimate realisation of the strategy. We do so, as we will always be supportive of a programme that will establish our country as a global forerunner in a specific field,” she mentioned.

The Green Hydrogen Project has been identified as a cornerstone of Namibia’s economic diversification and empowerment strategy and stands as a significant stimulant in Namibia’s overall energy landscape.

Collaboration between the public and private sectors remains essential to bridging the skills and capacity gap within Namibia. By joining forces, entities leverage their respective strengths, resources, and expertise to address the multifaceted challenges the country faces in the global arena.

Not only does this synergy encourage a cohesive approach to industrial development, but it further fosters a sustainable economic environment. “The alignment between government vision and the capability of the private sector has the potential to create a robust framework for continued growth, thereby ensuring Namibia’s global competitiveness,” Murorua noted.

As a result of its alignment with international partnerships and memoranda of understanding with countries such as the Netherlands, the European Union, Germany, and Japan, Namibia is well-positioned to build a hub for attractive green hydrogen assets.

The official transfer of Nedbank’s contribution is, therefore, more than symbolic; it strengthens Namibia’s commitment to a green hydrogen future, highlighting the essential role that both the public and private sectors need to play in steering our nation’s socioeconomic development agenda.


Nedbank Namibia Managing Director, Martha Murorua, pictured with the Minister of Mines and Energy, Hon. Tom Alweendo.


 

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