By:Justicia Shipena
Aimed at providing opportunities for Namibian entrepreneurs, a database on mining inputs and services will be introduced next month.
This is to further promote local content in the sector.
Beyond the resource earnings, local content is defined as the value that an extraction project adds to the local, regional or national economy.
During a press conference on Tuesday, Chamber of Mines of Namibia CEO, Veston Malango, said the database will be launched during the 10th Mining Expo and Conference which takes place at the Windhoek Showgrounds on August 30-31, 2023 .
“We are going to launch a project that we have been working on. We even convinced the Ministry to put it in NDP5 [ Fifth National Development Plan], and it happened, and that has been implemented,” Malango said.
He said First Capital won the tender and is developing a database on all mining inputs and services. He further stated the database will be administered by the Development Bank of Namibia (DBN).
“We are done, basically. We are putting the finishing touches on it,” he expressed.
Malango said the database is essential because the Chamber believes for entrepreneurs establishing business in mining, this database will be a major instrument in supporting local content.
Namibia’s mining industry earned over N$38 billion last year, of which 44% (N$16.8 billion) was spent on local procurement.
“We believe this is 44% of the total revenue; we believe we can exceed 50%. In wages, we paid N$5 billion, which is 13% of the N$38 billion revenue,” he added.
Malango underlined the industry is run by Namibians and that some of the sector’s large heavy equipment are operated by Namibians, mainly women.
“The big mining equipment is maintained by our people, and this is exactly the local content I’m talking about.”
He also said the Chamber hopes that, with this database in place, spotting business prospects would no longer be a matter of Namibian entrepreneurs travelling abroad, purchasing what is required, and then returning to resell it for profit.
“The idea is to identify business opportunities where they will say the demand for a particular item is so great that I can make a business case for the manufacturer of that particular item. Then go to financial institutions like DBN and make a successful business case for the mining sector.” As a result, he said, entrepreneurs can create jobs to help the economy flourish.
When The Villager inquired whether this database would be tied to the Ministry of Mines and Energy’s local content policy, Malango replied in the negative.
“No, when the government is talking about local content, they are doing it for the upstream benefit of oil and gas. So this database will not be linked to that,” he said.
Malango also told the media that the Mining Expo and Conference has 86 confirmed exhibitors thus far who have already taken up 140 booths.
“Last year it was jam-packed, and we expect the same for this year.”
According to him, another centrepiece of the expo will be a dedicated Oil & Gas Pavilion, highlighting the growing linkages between mining and energy.
Thanks to anchor sponsor Rand Merchant Bank, a division of First National Bank of Namibia, and secondary sponsor Continental Lithium Africa, the 10th Mining Expo and Conference brings together industry professionals, suppliers, and stakeholders to explore advancements, opportunities, and challenges in the mining sector.
