By Koviao Matuzee
President Netumbo Nandi-Ndaitwah has called for greater value addition to Africa’s natural resources, placing critical minerals, green hydrogen and renewable energy among the emerging sectors that could drive new economic opportunities.
Addressing the 81st United Nations General Assembly in New York on Wednesday, Nandi-Ndaitwah said reforms to the international financial architecture were needed to give developing countries greater policy space and access to financing to expand their economies.
“Such reforms should create greater policy space and access to financing, to enable countries to expand their economies through value addition to our natural resources, including critical minerals, for our people to have full benefit of our resource,” she said.
The President said value addition would accelerate sustainable development, address inequality, create jobs for young people and lift populations out of poverty.
She also highlighted the financial pressures facing middle-income countries, including high borrowing costs, limited fiscal space, debt vulnerabilities, climate-related shocks and persistent inequalities.
Nandi-Ndaitwah welcomed the planned launch of the African Credit Rating Agency in Mauritius in October, describing it as a building block towards Africa taking ownership of its development and prosperity agenda.
She said the agency would contribute to Africa’s ambition to reform the international financial architecture and ensure a level playing field.
The President also highlighted the need to prepare young people for emerging industries, including oil and gas, renewable energy and green hydrogen.
“As part of our development agenda, we are preparing our young people for the emerging industries such as oil and gas, renewable energy, and Green hydrogen among others,” she said.
She said Government had this year introduced 100 percent subsidised registration and tuition fees for Namibian students entering universities and vocational training centres, while encouraging them to pursue appropriate courses.
Nandi-Ndaitwah also pointed to the National Youth Development Fund, established last year, saying young people had used the fund to establish businesses including medical practices, law firms, milling plants and poultry businesses.
She said these businesses were contributing to job creation and poverty reduction.
