‘Namibia at economic crossroads’

There is an urgent need in Namibia to foster an investment environment that not only retains, but attracts new industries. "We need to refocus spending towards high potential new businesses and SMEs," renowned applied economist Robin Sherbourne said last week at the Momentum High Table Discussions. Sherbourne is the author of "Guide to the Namibian Economy". He was one of three panellists with varied and extensive backgrounds in economic development and policy-making who dissected Namibia's economic trajectory. The other two were Prof. Oliver C. Ruppel of the Development and Rule of Law Programme (DROP) at the University of Stellenbosch and local economist Salomo Hei, the manging director of High Economic Intelligence.The economic landscape of any nation is a maze of interconnected sectors, each with its unique opportunities and challenges. Namibia is no exception, the panellists, guided by Denille Roostee, Momentum Metropolitan’s group executive for marketing, concluded.ConsistencySherbourne remarked on limited diversification of Namibia’s economy since 1990. While there have been outliers such as polished diamonds and refined zinc, Sherbourne emphasised the need for consistency in following through from reports and analysis. Ruppel highlighted the vast potential in Namibia's natural resources. Beyond the conventional understanding of oil and gas, he encouraged Namibians to leverage the abundant sun, vast deserts and wind. These, when tapped into strategically, can provide a sustainable and diverse economic future for Namibia. "We even have the sun on our flag; it's an encouragement for us to harness the natural resources we're blessed with," Ruppel noted.He also cautioned about the environmental challenges associated with oil and gas exploration. As a nation, Namibia must strike a balance between immediate economic gains and the long-term environmental impact.Hei pondered the discrepancy in Namibia's economic structure. Namibia boasts of a robust primary sector and a world-class financial sector, yet there's an evident gap when it comes to the industrial sector. This calls for introspection and strategic planning.ApproachThe discussions shed light on these pressing questions, advocating for a more systematic and consistent approach in assessing Namibia's past and charting its economic future.Concluding the discussion, Roostee underscored the value of responsible leadership. The path to sustainable growth requires unwavering transparency, integrity, and an inclusive approach, ensuring that the bounty of Namibia's resources is a boon for every citizen.Namibia stands at an economic crossroads, with the potential to become a beacon for other nations, Roostee said in a statement.

‘Namibia at economic crossroads’

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Namibian Sun 2025-04-11

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‘Namibia at economic crossroads’

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Namibian Sun 2025-04-11

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