Giraffe Energy has signed a memorandum of understanding (MoU) that will see a 10% equity stake in the company allocated to a youth empowerment trust in the //Kharas Region, in addition to a N$1 million donation.
The stake comes from the personal shareholding of businessman and Giraffe Energy co-founder Knowledge Katti, who said the move is aimed at giving young people a direct stake in Namibia’s oil and gas sector from “the earliest stages” of development. The company currently owns 33% of petroleum exploration licence (PEL) 79 in the Orange Basin, with Namcor holding the remaining 67%.
Katti, who has previously funded tertiary education for more than 120 students through his Knowledge Foundation, said the transaction is intended to create long-term benefits for young people through participation in exploration activities, training, employment, and eventually production. “This is more than a deal; it’s a catalyst for transformation,” he said. “By bringing youth into the equity fold early, we equip them to learn the industry, collaborate with operators, and advocate for their communities’ needs.”
In addition to the equity transfer, Katti and Sintana Energy have pledged N$1 million to the youth trust, which will operate under the office of //Kharas governor Dawid Gertze. Gertze welcomed the contribution, saying it could help drive regional development. “By allocating equity to our youth, Giraffe Energy and Knowledge Katti are not only investing in resources but in the future of our region,” he said.
Giraffe Energy said the arrangement aligns with national development priorities, including President Netumbo Nandi-Ndaitwah’s focus on youth participation in the economy and the goals of Namibia’s National Development Plan 6. The agreement also comes as international geologist Dr Marcio Mello prepares to farm into PEL 79, according to the company, which previously worked with Mello on exploration activities in the basin dating back to 2008. The company said the deal could serve as a model for similar regional empowerment initiatives across Namibia’s 14 regions.
The stake comes from the personal shareholding of businessman and Giraffe Energy co-founder Knowledge Katti, who said the move is aimed at giving young people a direct stake in Namibia’s oil and gas sector from “the earliest stages” of development. The company currently owns 33% of petroleum exploration licence (PEL) 79 in the Orange Basin, with Namcor holding the remaining 67%.
Katti, who has previously funded tertiary education for more than 120 students through his Knowledge Foundation, said the transaction is intended to create long-term benefits for young people through participation in exploration activities, training, employment, and eventually production. “This is more than a deal; it’s a catalyst for transformation,” he said. “By bringing youth into the equity fold early, we equip them to learn the industry, collaborate with operators, and advocate for their communities’ needs.”
In addition to the equity transfer, Katti and Sintana Energy have pledged N$1 million to the youth trust, which will operate under the office of //Kharas governor Dawid Gertze. Gertze welcomed the contribution, saying it could help drive regional development. “By allocating equity to our youth, Giraffe Energy and Knowledge Katti are not only investing in resources but in the future of our region,” he said.
Giraffe Energy said the arrangement aligns with national development priorities, including President Netumbo Nandi-Ndaitwah’s focus on youth participation in the economy and the goals of Namibia’s National Development Plan 6. The agreement also comes as international geologist Dr Marcio Mello prepares to farm into PEL 79, according to the company, which previously worked with Mello on exploration activities in the basin dating back to 2008. The company said the deal could serve as a model for similar regional empowerment initiatives across Namibia’s 14 regions.
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