Chamwe Kaira
Angola’s economic downturn has negatively affected northern Namibia for nearly five years, according to Bank of Namibia (BoN) deputy governor Ebson Uanguta. He said this in response to a question by Observer Money on the impact of Angola’s economic situation on Namibia.
“When trade was thriving, Oshikango was a booming town, but business activities have since slowed down. The impact has already been felt for a number of years now, there is nothing new,” Uanguta said.
BoN projects Angola’s economic growth to slow to 2.4% in 2025 and 2.1% in 2026, down from 4.5% in 2024.
The slowdown is linked to weaker performance in the non-oil sector and lower international oil prices. The World Bank expects growth to fall to 2.7% in 2025 and 2.6% in 2026, citing restrictive monetary policies and a constrained fiscal stance.
In 2023, Namibia exported US$55.3 million worth of goods to Angola, mainly prepared cereals (US$6.47 million), used clothing (US$6.26 million), and bovine products (US$2.76 million), according to the Observatory of Economic Complexity.
Angola exported US$165 million to Namibia, led by passenger and cargo ships (US$78.7 million), tugboats (US$33.4 million), and other sea vessels (US$16.5 million).
In April, President Netumbo Nandi-Ndaitwah and Angolan President João Manuel Gonçalves Lourenço identified agriculture, energy, tourism, oil and gas, logistics, infrastructure, and water cooperation as priority areas to address unemployment in both countries.
They agreed on the importance of agricultural value chains, livestock production, and adding value to natural resources to promote youth empowerment and job creation.
Angola has developed capacity in the oil and gas sector and has been training Namibians in the country.
Angola also expressed readiness to assist Namibia’s emerging oil and gas industry. The National Petroleum Corporation of Namibia (Namcor) and Sonangol were urged to strengthen cooperation in logistics, knowledge sharing, and exploration of new oil frontiers.
Both leaders also emphasised the need for private-sector investments in power transmission, water canals for northern Namibia, and energy exports to neighbouring countries. They highlighted the Baynes Hydropower Plant as a key project to drive economic development in both nations.
