Hyphen to invest N$54 billion in Namibian businesses for local procurement
via The Namibian2 hours ago3 min read
Hyphen Hydrogen Energy plans to invest N$54 billion in procurement from local Namibian businesses throughout its project in Namibia. This amount is nearly equivalent to the country's total reserve. Johannes Shipepe, a senior manager, stated at an enterprise and supplier development program launch that the project aims for 30% local procurement. To achieve this, Hyphen, in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit, launched a program to enhance the capacity of Namibian businesses and help them compete in the sector. This initiative is supported by grant funding of up to 300,000 euros approximately N$5.8 million from the International Hydrogen Ramp-up Programme, matched by Hyphen. Shipepe noted that the objective is to ensure Namibian companies can compete for specialized opportunities across the value chain, not just basic services. The program will focus on four key areas: improving tendering skills, compliance and certification, access to finance, and partnerships.
Stay in the loop
Get the pulse of Africa in your inbox
Free daily or weekly digest of the most important stories from across 10 countries. No spam, unsubscribe any time.
#Namibia#NamibiaNews#Windhoek#SADC#SouthernAfrica
Original source
This summary was AI-generated from a story originally published by The Namibian.
