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The National Budget 2024-25

The 2024-25 National Budget indicated that Finance Minister Iipumbu Shiimi has successfully steered the country’s public finances through their most challenging period since Independence. Yet, as the Minister admitted, the recovery will not be nearly sufficient to address the country’s high unemployment levels. Creating sustainable employment opportunities remains the central economic challenge facing Namibia.

Namibia should harness the ocean economy to promote growth

In May this year, Debmarine Namibia announced that it will build a state of art diamond recovery ship costing US$ 468 million. The vessel is slated to be operational by the year 2022. When in operation the vessel is expected to harvest 500,000 carats per year. Debmarine, which is a joint venture between Anglo-American and the Namibian Government, has demonstrated its faith in the Ocean economy by continuing to invest in marine diamonds.
Namibia established its Exclusive Economic Zone in 1990 in accordance with the United Nations Convention on the Law of the Sea.

Growth at Home Four Years On

Namibia’s plan for industrialisation, Growth at Home, was adopted in early 2015. The 52-page policy guide represented a clear interventionist-turn in the government’s economic policy. As if to indicate the new approach, the Ministry of Trade and Industry was renamed the Ministry of Industrialisation, Trade and SME Development (MITSMED) in the same year. But since […]

Economy Watch

This issue discusses the IMF’s relatively upbeat growth forecasts, as well as a new free trade agreement for Africa