What are the latest news in Namibia?
Economy and Financial Reforms
- Growth Outlook & Commodities: Economic growth has moderated, with forecasts hovering around 2.1% to 2.6%. Sluggish global demand for diamonds and elevated fuel costs have weighed on the primary sector, though uranium and gold mining have provided stability.
- FATF Grey List Exit: Following comprehensive regulatory and anti-money laundering overhauls, Namibia successfully exited the Financial Action Task Force (FATF) grey list, improving international investment and banking confidence.-
- Central Bank Initiatives: The Bank of Namibia is advancing digital payment modernization and central bank digital currency (CBDC) frameworks while maintaining reserve diversification policies.
- Oil, Gas, and Hydrogen Projects: The administration continues to finalize investment and regulatory frameworks around offshore oil and natural gas discoveries and large-scale green hydrogen projects.
- Local Value Addition & Critical Minerals: Government officials have emphasized strengthening domestic qualification pipelines and local content requirements to ensure emerging mineral, lithium, and energy operations create local jobs rather than relying heavily on imported labor.
- Presidential Priorities: President Netumbo Nandi-Ndaitwah’s government is prioritizing youth unemployment reduction, public service rationalization, and intra-African trade expansion via the African Continental Free Trade Area (AfCFTA).-
- National Infrastructure: Major public utility partnerships are actively underway to align nationwide electricity rollout with broadband fiber expansion across all 14 regions.