Thread by @Oando_PLC

(1/6) Here are 3 points made at the “Moving the Needle on African Fiscal Systems & Good Governance” panel session by Immanuel Mulunga MD, National Pertoleum corporation Namibia. (NAMCOR)

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(2/6)
1. Without certainity you cannot attract capital. African Governments are comminting for limited exploration capital so if there is no regulatory certainity you drive away investment.”

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(3/6)
2. Laws have been in existence for more than 25 years and there is a need to look at them again to see if there is a need for a change/ improvement so as to make them more relevant in a more economically stable environment.
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(4/6)
This idea has not been embraced by the Government but there is a realisation that to remain competitive as a country these changes must be made. 

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(5/6)
3. Namibia we believe was one of the 1st countries to implement black empowerment / local content in exploration.  However we were smart enough not to legislate. Our belief is that legislation would make companies uncomfortable and may kill investments.

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(6/6) In Namibia it is voluntary, but seen as good practice. We want our local industry to develop and we want them to be actively involved in the oil and gas sector and so encourage participation.

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