Namibia’s government plans to complete the establishment of its sovereign wealth fund in 2025, when it also expects its first offshore oil project to be approved, the southern African country’s finance minister told Reuters on Tuesday.
“We are busy developing a comprehensive law that is going to set the rules of withdrawal and also the rules of investment,” Finance Minister Iipumbu Shiimi said, speaking on the sidelines of an energy conference in Norway.
“Hopefully it will be at the parliament by the beginning of the next year… As soon as the law is in place, the fund would be fully established,” he added.
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