Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources.
“We are making a case that local ownership must start with the state, which holds ownership of our natural resources,” Mines and Energy Minister Tom Alweendo told lawmakers on Monday. “The proposed state ownership should take the form where the state owns a minimum equity percentage in all mining companies and petroleum production, for which it does not have to pay,” he said.
They already gain the royalties over value produed. In economics terms that is a share of ownership.
But here they come again, violating contracts already signed. Is it any wonder that so much of Africa is piss poor?
Oh, yes, elections are next year…..