Namibia Roundup: SIM cards re-registration, cough syrup recall, oil exploits
SIM cards suspended
Over 500,000 unregistered SIM cards have been suspended in Namibia. Citizens with suspended SIM cards risk permanent loss by the end of June. According to ITWeb Africa, users must register by June 30 to prevent permanent loss. The Ministry of Information and Communication Technology issued a cautionary statement after mobile operators met the government's deadline to deactivate non-compliant clients by March 30. As a result, thousands of unregistered SIM cards were suspended across various networks. The registration process has, however, been contentious, with some claiming it's a government attempt to monitor residents' activities.
Cough syrup controversy
Namibia is reported to be unaffected by the Benylin paediatric syrup recall after the South African Health Products Regulatory Authority identified high levels of diethylene glycol in certain batches. The Namibian reports that Kalumbi Shangula, the Minister of Health and Social Services, has assured that the Benylin pediatric syrup is presently not registered in Namibia. Other African countries like Tanzania and Zimbabwe have recalled the affected batches as a precaution. Diethylene glycol is toxic and has been linked to recent deaths in Cameroon and The Gambia.
Oil investments
Namibia is considering a significant oil discovery off its shores with a potential final investment decision by 2024. TotalEnergies SE and Shell Plc discovered an estimated 11 billion barrels of crude oil in the waters off the southwest African nation's coast in 2022. The estimated 11 Bbbl of crude oil could greatly impact the country's economy. Additionally, a sovereign wealth fund has been established to manage the potential revenue, Bloomberg reports. The nation is also considering joining OPEC+ once the commercial viability of the discovery is confirmed.
Big energy sector moves
Namibia plans to invest potential oil revenue into a sovereign wealth fund and is awaiting confirmation on the commercial viability of recent oil discoveries. The government aims to ensure sustainable and beneficial investments for long-term economic growth, reflecting Namibia's commitment to responsible resource management. Freight News posits that Total Energies and Shell's recent oil discoveries off the southern coast of Namibia have spurred the initiation of a sovereign wealth fund. This signifies a strategic step by the government to manage and distribute the expected oil revenue proficiently. Energy development also has the potential to impact Namibia's GDP.
Global African Hydrogen Summit in Namibia
The Global African Hydrogen Summit will be held in Windhoek, Namibia from September 3-5 2024. The summit aims to drive investments into African green energy projects and will feature prominent speakers and projects from countries across the continent. In a KZN Industrial & Business News report, the event will focus on developing the thriving hydrogen market, building partnerships, stimulating investment, and fostering green industrialisation. It will also highlight the potential of renewable hydrogen to provide energy security and decarbonize various sectors. The Government of Namibia fully endorses the summit which will include a strategic conference, investment roundtables, and an international exhibition.
