Amid the latest buzz of renewable energy, green and blue economy, the Namibian government has in principle agreed to borrow (about N$20 billion so far), most of which will be spent on green hydrogen.
Presidential economic adviser James Mnyupe said the terms of a 500 million euro so-called concessional loan are still being negotiated.
The last time we borrowed euros it didn’t end well for Namibia. The main reason is that the money was used for infrastructure that did not help the economy but corruptly enriched locals.
Now, it seems, we have decided to gamble state resources on green hydrogen that is being touted as a silver bullet for Namibia’s troubles?
Fellow Namibians, once bitten twice shy. Let those so-called investors and their Namibian side-kicks fork out this time; not the overburdened taxpayers.
