FirstRand Namibia CEO to Speak on Energy Investment
Conrad Dempsey, CEO of FirstRand Namibia Group, is slated to speak at the Namibia Energy Conference. His focus will be on corporate finance and capital markets strategies for driving energy investment in the region. The participation of a major banking group CEO underscores the critical role of private capital in developing energy resources in emerging markets.
- Namibia is actively working to reduce its energy dependency, with a stated goal of decreasing energy imports from as high as 80% down to 29% by 2028 by increasing domestic generation capacity. - The country's focus on energy has attracted significant foreign direct investment (FDI), with cumulative net FDI inflows reaching N$114.9 billion between 2021 and the end of 2024, largely driven by hydrocarbon discoveries. - Recent offshore oil and gas discoveries in the Orange Basin have drawn investments from major international companies including Qatar Energy, Galp, Rhino Resources, and TotalEnergies, with the latter preparing for a final investment decision on its Venus project in 2026. - Beyond oil and gas, Namibia is pursuing a diverse energy strategy that includes the flagship Hyphen Green Hydrogen Project, which aims to export up to 300,000 tons of green hydrogen annually, positioning the country as a future renewable-fuel hub. - The 2026 Namibia International Energy Conference, where Dempsey is speaking, is themed "The Road to First Oil & Beyond," focusing on the country's transition into a producing nation while developing its broader energy mix. - FirstRand Namibia, under CEO Conrad Dempsey, recently signed a Memorandum of Understanding with the Petroleum Training and Education Fund (PETROFUND) to develop local talent and suppliers for the oil and gas industry, backed by a co-sponsorship package of N$1 million over two years. - Projections indicate that the combined energy sectors—including oil, gas, renewables, and green hydrogen—could add over US$3 billion to Namibia's annual GDP and create more than 75,000 direct jobs by 2030.
