Chamwe Kaira
The Bank of Namibia says Namibia’s economy is expected to grow by 2.6% in 2026 and 2.9% in 2027.
The central bank said the economy grew by an estimated 1.7% in 2025 and is set to recover gradually over the next two years.
Growth in 2026 and 2027 is expected to be supported by expansion in sectors such as construction, electricity and water, wholesale and retail trade, financial services, and public administration and defence.
Uranium mining is also expected to remain a key driver of growth, supported by increased production from existing mines.
The bank said the latest outlook reflects lower projections compared to its December 2025 update.
“The latest projections for 2026 and 2027 reflect a downward revision of 1.2 percentage points and 1.4 percentage points, respectively, compared to projections published in the December 2025 Economic Outlook update. The downward revisions mainly reflect weaker-than-previously anticipated performance in the primary industries, particularly the significant contraction in metal ores production and continued weakness in diamond mining,” the central bank said.
The bank cautioned that the outlook remains vulnerable to risks.
Regionally, the outbreak of foot-and-mouth disease in Botswana and South Africa could affect livestock production and exports.
Global risks include geopolitical tensions and policy changes in the United States, which may affect commodity prices, exchange rates and the cost of imports such as fuel.
In the region, Sub-Saharan Africa is expected to grow by 4.6% in both 2026 and 2027, up from 4.4% in 2025.
South Africa’s economy is projected to grow by 1.4% in 2026 and 1.5% in 2027, compared to 1.3% in 2025.
