Namibian minister Ithete has proposed raising the government's stake in natural resources from 10% to 50%. The government currently maintains interests through the Epangelo Mining Company for minerals and the National Petroleum Corporation for oil and gas operations. Chamber of Mines executive Veston Malango declined comment yesterday when contacted.
Previously, Ithete declared smaller percentages as insufficient, suggesting foreign investors should depart if they reject higher state ownership. He stated that 3% to 15% shares amount to insignificant holdings and expressed confidence that alternative investors would emerge. When approached for further clarification yesterday, Ithete remained unreachable through calls or messages.
Social justice advocate Shaun Gariseb expressed support for the minister, noting that many newer officials better grasp everyday Namibian struggles. Gariseb emphasized that public assessment will focus on whether Ithete advances these causes, particularly local community benefits from resource extraction. He urged the minister to maintain his position regarding a minimum of 50% national ownership.
Tuhafeni Petrus from Affirmative Repositioning backed the higher ownership position but argued that 50% remains inadequate. He suggested that even half ownership fails to grant sufficient control over national resources. A former mining sector worker himself, Petrus recommended 70% as more appropriate for meaningful national authority over resource decisions.
Petrus pointed out current concerns about granite and marble exports despite recent promises to halt raw material shipments abroad. He argued that stronger national agreements would enable communities to help monitor illegal resource transportation. He highlighted persistent issues like contract labor practices that have resulted from excessive investor control since national independence.
Tobie Aupindi, a parliament member from Swapo, affirmed support for improved resource agreements but called for contextualizing the 50% figure. He aligned with presidential statements that Namibia has too small a population to justify widespread poverty. Aupindi criticized negotiators who bargain from disadvantageous positions when representing national interests.
Aupindi stressed that value addition extends beyond simple ownership percentages. He emphasized technological advancement needs and skills transfer as equally important factors that must accompany any revised ownership structure. These elements together create more substantial benefits than percentage stakes alone.
Previously, Ithete declared smaller percentages as insufficient, suggesting foreign investors should depart if they reject higher state ownership. He stated that 3% to 15% shares amount to insignificant holdings and expressed confidence that alternative investors would emerge. When approached for further clarification yesterday, Ithete remained unreachable through calls or messages.
Social justice advocate Shaun Gariseb expressed support for the minister, noting that many newer officials better grasp everyday Namibian struggles. Gariseb emphasized that public assessment will focus on whether Ithete advances these causes, particularly local community benefits from resource extraction. He urged the minister to maintain his position regarding a minimum of 50% national ownership.
Tuhafeni Petrus from Affirmative Repositioning backed the higher ownership position but argued that 50% remains inadequate. He suggested that even half ownership fails to grant sufficient control over national resources. A former mining sector worker himself, Petrus recommended 70% as more appropriate for meaningful national authority over resource decisions.
Petrus pointed out current concerns about granite and marble exports despite recent promises to halt raw material shipments abroad. He argued that stronger national agreements would enable communities to help monitor illegal resource transportation. He highlighted persistent issues like contract labor practices that have resulted from excessive investor control since national independence.
Tobie Aupindi, a parliament member from Swapo, affirmed support for improved resource agreements but called for contextualizing the 50% figure. He aligned with presidential statements that Namibia has too small a population to justify widespread poverty. Aupindi criticized negotiators who bargain from disadvantageous positions when representing national interests.
Aupindi stressed that value addition extends beyond simple ownership percentages. He emphasized technological advancement needs and skills transfer as equally important factors that must accompany any revised ownership structure. These elements together create more substantial benefits than percentage stakes alone.
