Business Association Proposes Government Ownership of 50% of Natural Resources

The Namibian Local Business Association suggests that the government should own 50% of Namibia’s natural resources to ensure more significant benefits for Namibians. Peter Amadhila, Naloba’s vice president, proposed this after a meeting with the Minister of Mines and Energy, Tom Alweendo. Alweendo hinted at the government acquiring shares in the mining industry for free, although the exact percentage hasn’t been specified. This idea has drawn criticism from Veston Malango, the chief executive of the Chamber of Mines of Namibia, who fears it could discourage investors. Nevertheless, Amadhila stated Naloba’s willingness to assist the government in negotiating mutually beneficial agreements.