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Chinese President Xi Jinping assured Namibia that he will encourage Chinese companies to invest in Namibia, as China looks to strengthen cooperation in various fields, including clean energy. Xi made the remarks during a meeting with Namibian President Hage Geingob on the sidelines of the recently concluded BRICS Summit. China offers opportunities to developing countries to achieve joint development and prosperity, and advocates for more equal rights for developing nations, stated Xi.
Chinese President Xi Jinping assured Namibia that he will encourage Chinese companies to invest in Namibia, as China looks to strengthen cooperation in various fields, including clean energy. Xi made the remarks during a meeting with Namibian President Hage Geingob on the sidelines of the recently concluded BRICS Summit. China offers opportunities to developing countries to achieve joint development and prosperity, and advocates for more equal rights for developing nations, stated Xi.
According to the Chinese Ministry of Commerce (MOFCOM), new Belt and Road cooperation (BRI) engagement statistics covering the period from January to March 2023 show that Namibia has experienced a 457% growth in BRI engagement compared to the previous year. President Hage Geingob expressed Namibia’s firm support for China and welcomed Chinese enterprises to invest and collaborate in Namibia. China is presently one of the world’s leading and fastest-growing producers of renewable energy.
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The Namibian government anticipates generating nearly N$4 billion in annual revenues from Green Hydrogen projects, with projected royalties amounting to N$627 million per year once full production capacity is achieved. Hydrogen is considered an alternative fuel that industrialized nations are relying on to achieve their ambitious goal of net-zero carbon emissions by 2050. According to the International Renewable Energy Agency, Namibia boasts a solar potential of 26,000 MW and a wind potential of 18,000 MW.
