Alweendo faces conflict claims over new mining and energy consultancy firm

Former minister of mines and energy Tom Alweendo is under scrutiny for launching a consultancy firm advising investors in sectors he once regulated.

This comes after he launched a consulting firm, Alvenco Advisory, to provide guidance to investors in Namibia’s energy and mining sector, four months after leaving office.

Former president of the South West Africa National Union (Swanu) and member of parliament Tangeni Iijambo yesterday said it is a conflict of interest, considering

Alweendo has inside information on how the industry works after years of being a minister.

“For me, it is a direct conflict of interest, or using the bulk of information that he has, having been the minister of the sector. He has all the inside information about minerals and mining and oil sectors,” he said.

Iijambo said other politicians have undertaken similar endeavours, citing a former minister who started a university while being a minister.

“So these guys just play strange tricks to get rich quick, so to say,” he said.

Landless People’s Moevement national spokesperson Lifalaza Simataa says there is nothing irregular about Alweendo starting a firm.

He says it would be a conflict of interest if he used his firm as leverage and solely obtained deals from the government to further his institution.

“It is a grey area. I believe these are clever ways politicians or former politicians use to enrich themselves – especially when there’s a monopoly. However, if he isn’t getting any preferential treatment, I believe it is not within our mandate to say he can’t start a firm,” Simataa says.

‘NO CONFLICT OF INTEREST’

Alweendo yesterday said his energy consulting firm does not pose any conflict of interest and is an accepted practice globally.

Currently there is no law that prohibits former members of the Cabinet to venture into business, nor is there a post-ministerial cooling off period once they leave office, he said.

Alweendo alongside his daughter, Ndapwa, launched Alvenco Advisory last week.

He said is only using his knowledge of the sector to support investors to better understand Namibia’s regulatory environment.

“I wish to clarify that there is no conflict of interest in this matter, seeing that I currently hold no position within government and exercise no influence over policy, regulatory decisions, or licensing processes in the energy or mining sectors,” Alweendo said.

He said Alvenco would operate independently, with no ties to decision-making bodies or procurement channels.

“I view this as my contribution to Namibia’s development goals, particularly in fostering responsible and well-informed investment in key sectors of the economy,” Alweendo said.

Speaking during the launch of his company, he said the firm will advise international investors on how to engage in Namibia’s extractive sectors and support government institutions by contributing to policy conversations that prioritise value retention and capacity building.

“The purpose of Alvenco is to provide guidance to investors in Namibia’s energy and mining sectors, ensuring their investments lead to sustainable growth for the Namibian people – and that those investments are profitable and protected,” Alweendo said.

The former minister said seeing that Namibia is on the cusp of major oil discoveries and a promising green hydrogen industry, there is a need to ensure that natural resources benefit all Namibians.

Additionally, the firm plans to advocate for Namibian talent development, local content, and community impact as key performance metrics in every investment deal.

“Too often, resource-rich nations fall into the trap of extractive arrangements that benefit a few, leaving communities behind and stoking resentment.

“At Alvenco, we reject this model. We believe the exploitation of Namibia’s natural resources is only meaningful if the resultant economic benefits are equitably shared among all Namibians,” Alweendo said.

His daughter will serve as the firm’s chief operating officer.

Alweendo previously served as National Planning Commission commissioner and Bank of Namibia governor.

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