INTERVIEW: Business and Economics Researcher Josef K. Sheehama Talks to Future Media’s Leonard Witbeen on Economic Views

Recently, Josef K. Sheehama, a distinguished business and economics researcher, shared his insights on the future of Namibia’s economic landscape. With a career spanning over two decades in banking and finance, Sheehama, who currently manages private banking at Standard Bank, discussed the differences between green hydrogen and the blue economy and how Namibia can leverage its resources to boost economic development and job creation.

The Green Hydrogen vs. Blue Economy Debate

When asked about the distinctions between green hydrogen and the blue economy, Sheehama clarified that while both concepts aim to address environmental concerns, they focus on different aspects. Green hydrogen primarily deals with energy solutions, aiming to reduce carbon emissions through clean energy sources. In contrast, the blue economy encompasses a broader range of activities, including agriculture and marine resources, with a focus on sustainable practices that benefit the environment and economy simultaneously.

Harnessing the Blue Economy for Namibia’s Growth

Sheehama highlighted the potential of the blue economy in Namibia, especially in light of the country’s high unemployment rate and youthful population. According to Sheehama, implementing strategies from the Namibia National Development Plan No. 5 (NDP5) can create substantial job opportunities and enhance food security. He emphasized the need for the government to focus on practical measures, such as harnessing floodwaters for agriculture and improving water resource management, to support local livelihoods.

“Namibia has abundant resources that, if utilized effectively, can significantly impact our economy and living standards,” Sheehama stated. He called for a shift in focus towards agriculture and water management, suggesting that government initiatives should integrate communities into economic activities and promote sustainable practices.

Economic Strategies and Community Involvement

Sheehama stressed that immediate financial gains from blue economy initiatives might not be substantial, but the long-term benefits are promising. He proposed forming cooperatives and involving experienced agricultural professionals from regions like Zambia to enhance local farming practices. By investing in such initiatives, Namibia could see improved agricultural output, better food security, and elevated living standards over time.

“Investing in agriculture and integrating communities into economic streams will eventually lead to a more resilient economy. The government must create a legal framework that balances economic development with environmental protection,” Sheehama advised.

A Vision for Namibia’s Future

In his concluding remarks, Sheehama emphasized the importance of addressing both immediate and long-term economic needs. He highlighted the necessity for a comprehensive approach that combines education, practical skills, and community involvement to drive sustainable growth.

As Namibia navigates its economic future, Sheehama’s insights offer a valuable perspective on leveraging its resources for a prosperous and inclusive economy.