President of Namibia, Dr Netumbo Nandi-Ndaitwah, has described the $2.5 billion Dangote Namibia Tank Farm and Regional Pipeline Project as a landmark funding that can strengthen Africa’s industrial future, improve regional energy safety and promote financial integration throughout Southern Africa.
Speaking on the official launch of the project in Walvis Bay, Nandi-Ndaitwah recommended Aliko Dangote, President and Chief Executive of Dangote Industries Limited, for demonstrating confidence in Africa’s financial potential via main investments in energy infrastructure.
She described the event as essentially the most memorable day of her presidency, saying the project mirrored the rising capability of African entrepreneurs to drive the continent’s transformation.
“Today is the most memorable day of my presidency,” she stated.
The project contains a proposed 600-million-litre petroleum storage facility and an roughly 1,700-kilometre regional pipeline community designed to place Namibia as a strategic gas distribution hub for Southern Africa.
The infrastructure is predicted to enhance gas provide reliability, decrease transportation prices and assist financial progress in Namibia and neighbouring nations.
The Namibian president stated the funding aligned with the nation’s improvement priorities and the goals of the African Continental Free Trade Area (AfCFTA), whereas creating alternatives for employment, expertise switch and industrial growth.
Speaking on the ceremony, Dangote stated the funding fashioned a part of the Group’s broader technique to set up interconnected centres of manufacturing, storage and distribution throughout Africa.
He disclosed that the power close to Walvis Bay would have the capability to retailer 360 million litres of diesel and 240 million litres of petrol. The pipeline community is predicted to hyperlink Namibia with key markets in Botswana, Zambia, Zimbabwe, Malawi and components of the Democratic Republic of Congo.
“We want to invest heavily so that landlocked countries can access petroleum products at cheaper prices,” he stated.
Dangote additionally introduced that the Group had raised its Africa-wide funding ambition in direction of 2030 from $50 billion to $60 billion, signalling plans for additional growth throughout the continent.
“What we are launching today represents an investment of $2.5 billion, but Namibia deserves much more. We want to invest more and do more with your government,” he stated.
Reaffirming his dedication to the continent’s improvement, Dangote stated Africa had the assets, expertise and markets required to obtain sustainable industrialisation.
“Africa must industrialise Africa,” he declared.
The Governor of Namibia’s Erongo Region, Dr Nathalia ǀGoagoses, additionally welcomed the project, describing it as a strategic funding that may strengthen the nation’s place as a gateway for commerce, funding and regional financial integration.
Dangote pledged the Group’s continued dedication to Namibia and Southern Africa, with additional investments in infrastructure to promote progress, job creation and prosperity throughout the continent.
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