Nedbank Namibia invests N.dollars 350 000 in National Green Hydrogen Project

Nedbank Namibia has donated N.dollars 350 000 to the Ministry of Mines and Energy to help the country achieve its aim of becoming self-sufficient in the production of green hydrogen.

Nedbank Namibia’s Managing Director, Martha Murorua, at the handover on Monday said the bank recognises the importance of the green hydrogen efforts for the country’s economic growth.

She stated that Nedbank Namibia has a vested interest in environmental sustainability, having spearheaded the foundation of its Go Green Fund 22 years ago.

The ministry will be in charge of guiding and carrying out the green hydrogen vision, and it has pledged to accelerate progress in the sector, acknowledging that the development of the green hydrogen industry will necessitate a concerted and unified effort, she said.

“We firmly believe in the viability of the Green Hydrogen and Derivatives Strategy, which is why we are contributing these funds towards the ultimate realisation of the strategy. We do so as we will always be supportive of a programme that will establish our country as a global forerunner in a specific field,” she added.

Minister of Mines and Energy, Tom Alweendo, hailed the contribution as a milestone in Namibia’s push towards a greener future.

He also articulated the initiative’s national significance.

“This exemplifies Namibia’s unwavering dedication to establishing itself as a frontrunner among nations in becoming a global leader in the field of renewable energy. The collaborative approach that we have taken with Nedbank Namibia underscores further that our mission transcends individual interests and resonates with our collective aspirations,” Alweendo said.

The Green Hydrogen Project has been identified as a cornerstone of Namibia’s economic diversification and empowerment strategy and stands as a significant stimulant in Namibia’s overall energy landscape.

Source: The Namibian Press Agency