Namibia faces a crucial decision about managing newly discovered oil reserves in the Orange Basin. The discoveries rank among the world's largest hydrocarbon finds. Economist Almandro Jansen from Simonis Storm urges the country to study Norway's approach to oil wealth management. He emphasizes that Norway's success stems from strong institutions and long-term planning rather than just finding oil. The comparison focuses on turning natural resources into lasting economic benefits.
The Orange Basin contains billions of barrels of recoverable oil reserves. This discovery transforms Namibia from a country with potential into one ready for production. The opportunity could bring significant economic growth to the nation. However, many...