WALVIS BAY TO ZAMBIA AND THE DRC BY RAIL

LET'S all hope that the recent blip in the international banking system does not keep banks shy of lending money for ever. At least, that is what Namibia's officials must be thinking. They have joined the throngs of those announcing mega energy projects in our part of the world. This time Walvis Bay is the supposed recipient of the largess. Walvis Bay is that little inhabitable bit of the Nambian coast that used to belong to South Africa until we gave it to the Namibians as an independence present back in 1989. Walvis Bay, they tell us, will get US$ 200 million of foreign capital so it can expand its port faculties to handle imports to the -- wait for it -- the Democratic Republic of Congo and Zambia. (Hmm. Most of the imports to Zambia will be paid for eventually, but it may be wise to insist on cast iron credit guarantees for the DRC). What has this got to do with energy? Well, Walvis Bay oil terminal handles 60 per cent of Namibia's petroleum product imports. If the Namibian Government decides to build some strategic stock tanks plus a little spare capacity, what's to stop Walvis being the main entry point for Zambian and DRC fuels as well? Nothing, really, once the new railway line between Grootfontein and Katima Mulilo is built. Could this be the plan? If so, it's a nice one. If international finance is not forthcoming, the Namibian Government can always twist the arms of the oil companies….Everyone knows they have pots of money.