Former cabinet minister Calle Schlettwein warns that the country’s emerging oil and gas wealth must not be allowed to fall into the hands of a select few.
He says stronger accountability and transparency are needed as the country prepares to benefit from its natural resources.
“The opportunity is simply too big to land in the hands of only a few,” Schlettwein says.
He says exclusive economic zone in the Atlantic Ocean, together with the country’s claim to continental shelf resources, has the potential to nearly double the country’s natural resource endowment, including both renewable and non-renewable resources.
However, Schlettwein cautions that some sectors are already facing challenges.
Schlettwein says Namibia’s fisheries industry is under pressure due to declining fish stocks and overfishing.
