Trustco Group Engages Oil and Gas Expert as Namibia Emerges as Energy Frontier
Trustco Group recently invited Mr. Andri Hugo, a seasoned expert in the oil and gas sector, to gain insights into the burgeoning energy sector in Namibia. This session formed part of Trustco Group’s annual strategic board training. The group’s board of directors, executives, and senior management participated in the session to deepen their understanding of the global oil and gas industry, particularly in light of the recent discovery of an estimated 10 billion barrels of oil in the Orange Basin, which positions Namibia as a significant player in the global energy sector.
Namibia, since independence in 1990 have cemented its reputation as one of Africa’s most trusted and stable democracies. With a population of approximately 3 million, the country has leveraged its political stability to build robust international relations, with its policy of a friend to all and an enemy to none. Situated on the southwestern coast of Africa, Namibia also serves as a critical trading route for landlocked nations like Botswana, Zimbabwe, and Zambia through its main port in Walvis Bay. It has opened the American markets via its sea route and cut the import and export times between the markets of the landlocked Zambian and Botswana to Europe and the USA by four days.
As a prominent player in Namibia’s economic development for over three decades, Trustco Group, a triple-listed investment company, has significantly contributed to the nation’s growth through its diverse portfolio of investments spanning the insurance, real estate, non-deposit taking financial services, micro-finance, education, and mining sectors. The group is now poised to play an essential role in harnessing the opportunities presented by this landmark oil discovery.
Expressing optimism about Namibia’s future, Trustco Group Deputy CEO, Mr. QZ van Rooyen, stated, “Trustco extends its gratitude to Mr Hugo for his invaluable contribution and insights provided during the training session. We believe this discovery presents a tremendous opportunity to address economic and social challenges in Namibia. Trustco is committed to exploring ways to serve and support our nation generally and Trustco stakeholders particularly during this transformative period.”
Mr. Andri Hugo brings over 30 years of experience in the energy industry, including significant achievements in new business development and the commercialization of sustainable energy technologies. During his career, he has held various roles, such as Senior Engineer for Sasol Gas (New Business Development), where he focused on new gas technology applications and the expansion of business opportunities. Mr. Hugo was instrumental in the development and commercialization of a natural gas vehicle program in Mozambique in partnership with the Government of Mozambique, which continues to provide commercial services to the country’s compressed natural gas (CNG) vehicle fleet.
Mr. Hugo’s remarked, “I have witnessed the transformative power of the energy industry in various societies. Namibia has the potential to become the ‘Saudi Arabia of Africa’ with these deposits. With the right infrastructure, business acumen and political leadership, the country could see a significant positive change in the next 30 years.”
