Uanguta urges coordinated approach to Namibia's oil and gas industry
Bank of Namibia Governor Ebson Uanguta is calling for increased coordination between government ministries, regulators, and financial institutions to manage the risks of the country's emerging oil and gas sector. He emphasized that the industry's complexity requires specialized expertise and robust risk management frameworks to ensure long-term financial stability.
Why it matters
Effective regulatory coordination is critical for developing nations to avoid the 'resource curse' and ensure that large-scale energy projects contribute to sustainable economic growth.
THE Governor of the Bank of Namibia, Ebson Uanguta, has emphasised the importance of coordination among ministries, regulators and public institutions for the success of the emerging oil and gas industry.
“Another clear conclusion from today is that coordination will be essential. The emerging industry cuts across the mandates of ministries, regulators and public institutions. It also involves financial institutions, energy companies, investors, educational institutions, professional service providers and local enterprises. No single institution will possess all the information or expertise required,” Uanguta said.
The governor made these remarks during the recent Oil and Gas Seminar, held in Windhoek under the theme Positioning Namibia’s Financial Sector for a Sustainable Oil and Gas Economy.
He described the seminar as the start of a more structured approach to strengthening coordination across government and regulatory institutions as Namibia prepares for large-scale oil and gas development.
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