The government and the African Development Bank (AfDB) yesterday launched a N$28.5-billion partnership designed to overhaul national infrastructure and break the country’s dependence on the mining sector.
The 2025 to 2030 country strategy paper, launched in Windhoek, serves as a five-year financial engine for Namibia’s sixth National Development Plan.
In a speech read on her behalf by deputy executive director Justus Mwafongwe, minister of finance Ericah Shafudah revealed that the strategy is a direct response to global shocks and commodity volatility that have previously hindered Namibia’s growth.
“We are moving toward labour-intensive engines of growth. Our focus is on diversifying the economy to ensure Namibia is no longer vulnerable to the highs and lows of a single industry,” she said.
The strategy allocates the N$28.5 billion across two main pillars.
The first pillar focuses on infrastructure, specifically climate-resilient energy, integrated water management, and the upgrading of transport and logistics corridors to transform Namibia into a southern African hub.
The second pillar targets human capital, with a specific focus on technical and vocational education to address the “alarmingly high” youth unemployment rate.
AfDB deputy director general for southern Africa, Moono Mupotola, confirmed that the financing includes a US$1.5 billion (about N$25 billion) lending window, complemented by US$120 million (about N$2.3 billion) in blended finance, and US$80 million (about N$1.3 billion) in grants for technical assistance.
“This is a significant scale up of our engagement,” she said.
“The real work now begins in identifying and designing operations that deliver tangible results for the lives of Namibians,” she said.
Addressing the seven-page policy roadmap, Shafudah said for the strategy to succeed, the government must fix internal bottlenecks.
She committed the ministry to rigorous public financial management and procurement reforms to ensure project execution keeps pace with the African bank’s funding.
“Development impact is not measured by approvals, but by delivery,” the minister said.
The bank’s portfolio in Namibia currently stands at over US$600 million (about N$9.36 billion). – Nampa
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