Chief Environmental Investment Fund Executive Officer Benedict Libanda said the global investment in green hydrogen will reach $500 billion by 2030.

• By Veronica Amaral

By 2050, the global economy will require 500 million tonnes of hydrogen annually to meet these targets. He defined significant opportunities for banks and lenders to participate in this burgeoning sector.

Furthermore, Nedbank and business partners delved into the financial outlook, chances for cooperation, and potential avenues for economic growth within the country’s green energy and hydrogen sectors. Focusing on financing renewable energy projects, this attempted to develop collaborations with local governments, businesses, and the green energy industry to find unexpected opportunities. Nedbank Namibia Managing Director Martha Murorua stressed Namibia’s poised economic development. “Tonight, the sentiment is one of optimism rather than gloom; of growth rather than headwinds; of revival rather than slump,” Murorua enthused. Murorua replicated the late President Hage Geingob’s bold stance on renewable energy at the UN Climate Change Conference in Dubai last year. He voiced his desire to position Namibia as a hub for renewable energy innovation, driving green industrialization that creates jobs, fosters economic development, and safeguards energy access for all.

Furthermore, the governors of the Hardap and //Kharas Regions, Salomon April and Aletha Frederick, offered the audience the opportunities presented by the green hydrogen expansion within their regions. Frederick highlighted the pressing need to resolve essential problems in //Kharas to draw in outside investment. These include the need to enhance road networks, water, and sanitation systems, as well as access to facilitate healthcare, education, and telecommunications. Moreover, April said the green hydrogen revolution could bring jobs to Hardap, a region traditionally reliant on livestock farming but grappling with challenges such as droughts and food insecurity. “We hope green hydrogen brings tangible change within our lifetime,” said April.

Nedbank Group Managing Executive for Corporate Investment Banking, Anel Bosman, said that the next decade will be a pivotal period that challenges the ability to adapt, especially as Africa is experiencing accelerated warming compared to the global average. “This effort goes beyond preserving our environment and ecosystems; it’s about protecting our economies and societies from the profound impacts of climate change,” added Bosman. Bosman further said that the pioneering initiative is expected to create 100,000 domestic jobs and position Namibia as a producer of some of the world’s most affordable green hydrogen, estimated at $2 per kilogram.

The Head of Programme for the Namibia Green Hydrogen Programme, James Mnyupe, emphasized that while the focus often centres on green hydrogen as a molecule, the crucial emphasis in Namibia remains on its people. He added that the program aims to uplift the entire region as Namibia positions itself as a leading exporter of green hydrogen energy.