President Netumbo Nandi-Ndaitwah has reiterated that Namibia remains open for business with both local and foreign investors, provided all investments are conducted within the country's legal framework.

This follows a courtesy visit to the State House by top management of Portugal-based oil company Galp and French oil giant TotalEnergies.

The two companies recently announced a partnership under which TotalEnergies will become the operator of Petroleum Exploration Licence 83, including the Mopane discoveries, while Galp will enter Petroleum Exploration Licences 56 and 91, which include the Venus discovery.

Galp Chairperson Paula Amorim briefed President Nandi-Ndaitwah, saying the partnership with TotalEnergies is strategic, as it ensures resources can be developed for the benefit of all stakeholders.

"We really believe in Namibia, and we have upstream exploration where we are in Brazil and now here. We've been in Angola but are focusing here. Not only the Mopane but also enlarge our exposure in Namibia by being with Total in Venus, so we are going to stay with the 10 per cent at Venus just to reinforce the compromise in turning Namibia into an important energy production nation."

TotalEnergies, on the other hand, views the partnership with Galp as laying the foundation for operational excellence and local development.

Its Chairman and CEO, Patrick Pouyanne, said, "I decided that the best way to launch this oil industry here – Venus had channels, but the best way is to extend to Paula and the team to say we will make efforts, but these efforts will be capitalised not only for us but for the country."

Press Secretary in the Presidency Jonas Mbambo said President Nandi-Ndaitwah highlighted the central role of the private sector in driving growth in key sectors of the economy.

However, these investments must be mutually beneficial.

"The President has reiterated, like those before her, that Namibia is open for business," he said, adding that "The creation of jobs is at the top of the agenda as far as NDP6 is concerned, but at the same time we also want to ensure that the interests that are being pushed by the investors are mutual and beneficial to the country at the end of the day because they are the ones that need to be employed and ensure that their lives are given a sense of dignity."

Mbambo reiterated, business must be done within the Namibian legal framework. "Laws must be respected; our environment must be respected since we are exploiting these resources.