President Netumbo Nandi-Ndaitwah’s New Year message strikes a hopeful and unifying chord. Her call for unity, compassion, hard work and integrity is timely and necessary as Namibia steps into 2026 facing familiar socio-economic challenges: unemployment, inequality, fiscal pressure and uneven service delivery. The President is right; when Namibians stand together, no challenge is too great. But unity and determination alone are not enough. To truly translate this vision into inclusive growth and national renewal, we must confront a fundamental and largely unanswered question: what do we own as a nation?
In households and businesses, progress begins with knowing what is in the ledger. Assets are counted, valued and managed so that they can generate returns or be safeguarded for the future. Yet at a national level, Namibia still operates without a clearly articulated and publicly understood “national balance sheet”. We speak confidently about being rich in natural resources, strategic location and human potential, but we struggle to answer basic questions: how much do we have, what is it worth today, who controls it, and how can it be leveraged for long-term development?
This is not an abstract academic exercise. It goes to the heart of economic sovereignty, planning and accountability. Without a comprehensive understanding of our national assets – natural, financial, physical and human – we are effectively navigating the future without a map.
Other countries have shown that knowing what you own is a powerful development tool. Norway is often cited, not because of oil alone, but because of how deliberately the country accounted for and managed that oil wealth. By treating petroleum resources as national assets and converting them into a sovereign wealth fund, Norway transformed finite underground wealth into long-term financial security for generations. The lesson is not that Namibia should copy Norway’s model wholesale, but that resource endowment must be measured, valued and governed transparently.
Closer to home, Botswana offers another instructive parallel. Diamonds were not merely extracted and exported; they were embedded into a national development strategy backed by strong institutions and a clear understanding of the value chain. Botswana knew what it had, negotiated accordingly, and invested revenues in infrastructure, education and public services. The result was decades of steady growth and relative stability in a region often marked by volatility.
Chile provides yet another example. By systematically accounting for its copper resources and linking fiscal policy to commodity cycles, the country insulated its economy from boom-and-bust shocks. New Zealand and Australia have gone further by publishing national balance sheets that include public land, infrastructure, natural resources and even long-term liabilities. These documents inform policy choices and promote a culture of stewardship rather than short-term consumption.
Namibia can and should learn from these experiences. We are endowed with minerals, fisheries, arable land, tourism assets, renewable energy potential, state-owned enterprises, public infrastructure and, most importantly, people. But much of this wealth is either undervalued, poorly coordinated or insufficiently leveraged for broad-based development. In some cases, we do not even have an up-to-date inventory.
A national asset audit, comprehensive, transparent and periodically updated, would be a transformative step. It would quantify what we own, assess its current and potential value, and clarify how assets are managed. Such an exercise should go beyond minerals and include land, water resources, biodiversity, public infrastructure, intellectual property, state equity holdings and human capital indicators. It should also account for liabilities, because a balance sheet tells the full story, not just the comforting parts.
Critically, this is not about privatisation or selling off national wealth. On the contrary, it is about protecting it. You cannot protect what you do not measure. Knowing the value of fisheries, for example, strengthens the case for sustainable harvesting and tougher enforcement against illegal exploitation. Understanding the true worth of public land informs urban planning, housing policy and investment decisions. Valuing renewable energy potential positions Namibia strategically in a world transitioning away from fossil fuels.
There are also governance benefits. A clear national balance sheet enhances transparency and accountability. Citizens can better assess whether resources are being used in the national interest. Policymakers can make informed trade-offs, and investors gain confidence in a country that knows its own fundamentals.
Importantly, this exercise would give real substance to the President’s call for quality service delivery. Assets generate revenue when managed well, and revenue funds services. If Namibia wants to sustainably improve education, healthcare and social protection, it must first ensure that its asset base is optimised rather than eroded.
Of course, embarking on such an exercise requires political will, technical capacity and public buy-in. It cannot be the preserve of technocrats alone. Universities, research institutions, traditional authorities, civil society and the private sector all have a role to play. This must be a national conversation, grounded in the understanding that our shared assets are the foundation of our shared future.
As we heed the President’s clarion call for unity and dedication in 2026, let us also commit to clarity. Let us ask, without fear or complacency: what do we own, what is it worth, and how do we make it work for all Namibians? The future we want to build depends on how well we answer that question today. Happy new year.
