The quest for ongoing growth
Namibia has seen strong economic progress following independence in 1990. Driven primarily by capital accumulation, this notable economic expansion has contributed to rapid per capita income expansion and a marked decline in poverty levels. In 2015, however, the Namibian economy stopped growing and has languished since.
Various analyses have identified multiple reasons behind this stagnation: overall economic productivity has contracted; specialist skills have been in short supply; the State has grown faster than the private sector; and the natural resource sector has arguably crowded out other opportunities. Policy efforts have focussed on identifying interventions to help revitalise economic activity.