By Ellen Shihepo

Moneda Invest head of research and intelligence, Precious Ehihamen says small and medium enterprises (SMEs) are interested in oil and gas but don’t know how to enter the industry. 

Ehihamen spoke at the Namibia Oil and Gas Conference pre-event masterclass today. 

Ehihamen said financial institutions should not limit SME funding to collateral. 

“SMEs need capital, training, partnership, and networking to gain access to oil and gas. The process for an SME to enter the industry starts with a call for applications followed by tendering.” Ehihamen said. 

Moneda Invest is a Nigerian company partnered with a local company, Ino Harith Invest, to train SMEs in oil and gas. 

Ehihamen advised SMEs to have their good standing documents in order. 

Rand Merchant Bank (RMB) Head of Oil and Gas, Energy and Resources, Angelique Peake, urged SMEs to build relationships with financial institutions early on. 

The Namibia Oil and Gas Conference is set to officially open on August 20th.

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