The Affirmative Repositioning (AR) movement has objected to Hyphen requiring a cash payment for the government to take up a 24% stake in Hyphen Hydrogen Energy.

The cash for shares will be in addition to the land, water, and other resources it has already given to Hyphen to develop the Green Hydrogen energy project.

Taking up 24% of the N$186 billion project will amount to N$46 billion.

The government announced during the visit this month by the Prime Ministers of the Netherlands and Denmark that it will take up its 24% equity in Hyphen.

A financing infrastructure fund, SDG Namibia One, has been established by the government in partnership with two Dutch companies to raise money from local institutional and international investors to pay for the government's equity in Hyphen.

However, AR demands that Hyphen immediately waive the requirement for the government to make a financial contribution for its 24% share and give it at no cost.

Kadhila Amoomo Legal Practitioners, on behalf of AR, further questions the alleged secrecy around the formulation and finalisation of the Green Hydrogen Project agreement and wants it made public.

AR has given Hyphen a deadline of July 15 to respond, after which it threatens to approach the courts.