Energy security demands a reduction in reliance on imported fossil fuels as everyone braces for the potential of an impending energy apocalypse.
Namibia must prioritize building a nuclear power plant if it wants to surpass its current position and become energy self-sufficient. The most cost-effective way for Namibia to boost energy security and resilience while diversifying its sources of electricity generation is through nuclear power.
Namibia is the third-largest producer of uranium in the world and the largest producer in Africa, yet it has no nuclear power plant reactors. Instead, practically all of Namibia's electricity demands are met by South Africa, Zimbabwe, and Zambia. As a result, Namibia cannot make money by exporting yellow cake abroad. We need to have honest discussions regarding nuclear energy and uranium enrichment in Namibia.
There is now only one nuclear power facility in Africa, South Africa's Koeberg Nuclear Power Station, which has two reactors according to the World Nuclear Industry Status Report and Statista Research Department. Globally, 32 countries are home to 440 nuclear reactors that are currently operational. With 94 nuclear power reactors operating at the time, the United States has the largest nuclear power reactor fleet. Out of all countries in the world, France generates the most electricity from nuclear power.
Nuclear power, which is the second-largest source of low-carbon power globally after hydropower, generates around 28% of all low-carbon power. Thus, Namibia has no reason not to be able to establish nuclear power plants in the same manner as over 32 other nations.
Unfortunately, the implementation of nuclear power cannot be accelerated in Namibia because there is no defined nuclear policy in place. In order to create a new nuclear policy that includes limiting the use of the nation's uranium, developing the fundamental components of nuclear infrastructure, and evaluating the feasibility of introducing nuclear power into Namibia's energy mix, a fund for the management of radioactive waste must be established.
It is critical to recognize that Namibia has not explored nuclear energy in its present National Development Plan and as the country prepares to introduce NDP6, it should be evident what goals and expectations Namibia has for the remaining period of Vision 2030. The country's current power consumption, at 750 megawatts, is deemed insufficient by the Electricity Control Board (ECB) and falls short of the 1000 megawatts required for a nuclear facility to be economically viable.
To overcome this threshhold, smaller 300 megawatt power plants could be built to meet the immediate need for electricity. The country's arm of Russian nuclear giant Rosatom, Headspring Investments, is working on the construction of Namibia's first nuclear power plant despite the absence of a formal nuclear policy.
It's critical to recognize that developing a new nuclear power plant in Namibia would be complicated and take longer than expected. Also, building a nuclear power plant will need significant investment, indicating that cautious financial planning and management are essential to avoid financial strain.
In addition, the process of constructing a new nuclear power plant involves complex obstacles that can lead to delays and cost overruns. Every facet of building a nuclear power plant is closely inspected from a security and safety standpoint. The main obstacles to nuclear fission technology in Namibia are a lack of infrastructure and technical capability, obstacles to funding and investment, difficulties with policies and regulations, and public perception which include worries about nuclear security and safety.
Growing and maintaining a successful nuclear power plant will require significant investments in infrastructure, workforce development, and regulatory frameworks. Because the complex energy sector requires high initial investment, specialized technology, particular workforce skills, and a long-term horizon, it can be difficult for local companies to readily participate.
Moreover, governments have the potential to play a major role in achieving net zero by implementing effective risk management systems, enforcing credible commitments, and getting involved in the construction phase if private actors aren't maximizing the project's potential. Namibia faces many difficulties, including low economic growth, high unemployment, low foreign earnings, a huge trade deficit, and a high rate of capital flight as a result of imported electricity.
Both national water security and food security are adversely affected by the current state of inadequate energy security. It is a major deterrent to investments and industrialization, as well as a major obstacle to the creation of sustainable jobs. Namibia must prioritize investments in nuclear energy, revise its policy on the optimal use of earth resources, establish a post-mining rehabilitation fund, maximize benefits to local companies, and develop human capacity and research.
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In conclusion, international collaboration with countries possessing nuclear experience can offer invaluable expertise, facilitate information sharing, and foster the advancement of a local nuclear industry. Building the first nuclear power plant will have a significant positive impact on Namibia's development, achieving energy security, and boosting economic growth.
Thus, with a well-thought-out plan, Namibia may reap the benefits of nuclear power while mitigating any potential negatives, paving the way for a more optimistic and sustainable energy future.
Josef Kefas Sheehama has more than 21 years banking experience serving as Manager Credit, Branch Manager and now Centralize Credit Head Office at Bank Windhoek. He holds a Certified Associate Institute Bankers CAIB (SA), Associate Institute Bankers AIB(SA), Chartered Banking Professional CHBP (SA), B Com Banking, B Com Law, Postgraduate Islamic Finance and Banking, MBA and an LLB degree. Also founder of church since 2009. He is an independent Economics and Business Researcher. Authored more than 100 articles in Economics and Business. Served on Northwest University panel (Green Hydrogen). His MBA thesis published by the International Journal of Current Research (Exploring sustainable economic challenges and opportunities).
