Namibia: National Energy Fund Nearly Drained After N$1.3bn Fuel Bailout

The National Energy Fund has nearly run dry after the government spent N$1.3 billion in two months to shield motorists from rising fuel prices.

It currently has between N$200 million and N$300 million remaining.

Minister of industry, mines and energy Modestus Amutse says the fund’s balance has dropped sharply because the government stepped in to keep fuel prices lower than they would have been.

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“What is left in the National Energy…