#greenhydrogenproject

Green Hydrogen project

More than 1,000 US and African executives, investors, and stakeholders will gather in Gaborone for the US-Africa Business Summit to discuss Africa's efforts to add value to its natural resources and form mutually beneficial partnerships, reconnect with old alliances, and attract new companies and investors. (00:00)

Botswana is leading the way in ensuring that Africa benefits more from its resources, with sessions at the US-Africa Business Summit focusing on various sectors including minerals, energy, health, agriculture, creative economy, and sports. (01:11)

Namibia's delegation, led by Vice President Nangolo Mbumba, will attend the four-day Summit with officials from various ministries.

2. The Daures Green Hydrogen project in Namibia's Erongo Region is expected to provide employment and housing opportunities for over 2,000 residents.

The project aims to create a database of eligible local small and medium enterprises (SMEs) to participate in its construction and other related activities.

The project will showcase the sustainable production of green hydrogen and ammonia, create research opportunities, and pilot a green hydrogen economy with export potential.

Erongo Governor Neville Andre Itope has pleaded with the leadership in the region to support it and ensure the community benefit from the opportunities offered. Itope also called on local SMEs who wish to participate to take up the opportunity offered by the massive project, saying there are a number of potential spin-offs for local communities.

3. Central bank governors from the Common Monetary Area (CMA) countries, including Namibia, met to discuss the need for de-dollarization and reducing global dependence on the US dollar.

The Bank of Namibia governor, Johannes !Gawaxab, highlighted the dominance of the US dollar and its "exorbitant privilege" in running persistent trade deficits without consequences.

He suggested alternative currencies like a Brics currency or an African continental currency as potential challenges to the US dollar's dominance. However, experts believe it is unlikely to dislodge the dollar anytime soon.