Staff Writer
The finance minister, Ericah Shafudah, says Namibia is at a turning point in its economic path and must work across sectors to drive development.
Shafudah made the remarks at Standard Bank Namibia’s annual budget dialogue on Wednesday, where government, financial institutions and industry leaders discussed the 2026/27 national budget.
She said the national budget should not be viewed only as a government document.
“A national budget is not merely a government document but a national development instrument,” she said.
Shafudah said its success depends on cooperation between governments, businesses, financial institutions and citizens.
She said Namibia must use fiscal policy to support economic growth and improve living conditions.
“Namibia stands at a pivotal moment in its economic journey,” she said.
Shafudah added that fiscal policy must remain “responsible, forward-looking, and focused on improving the lives of all Namibians.”
She said partnerships will be important to unlock value in sectors such as mining, renewable energy and oil and gas.
Arlington Matenda, chief finance and value management officer at Standard Bank Namibia, said the budget should be assessed in terms of its long-term economic impact.
“Our role as a leading financial institution extends beyond the financial sector. We carry a responsibility to contribute meaningfully to the progress of our nation,” he said.
Matenda said the 2026/27 budget is “fiscally responsible, attentive to the social realities facing many Namibians, and appropriately ambitious in supporting long-term development”.
He said the outcome will depend on how the budget is implemented.
“The budget’s success relies on disciplined implementation, expenditure control, and timely structural and tax reforms that broaden the revenue base and stimulate investment,” he said.
Guest speaker Vusi Thembekwayo shared an investor perspective during the discussion.
He said national confidence, strong institutions and effective use of natural resources will shape Namibia’s competitiveness.
Thembekwayo said countries are not defined only by their population size but also by their ambition and contribution to the global economy.
He said Namibia must strengthen governance and policy direction if it wants to benefit from its resources.
“We are overregulated, over-compliant, and under-innovated,” he said.
Thembekwayo urged institutions to shift from caution to enabling growth and innovation.
