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WINDHOEK, NAMIBIA | Xinhua | Namibia’s economy is recovering in various sectors, including agriculture, mining, fisheries, tourism, oil and gas, and green energy, Namibian President Nangolo Mbumba said on Tuesday.
Mbumba made the remarks on the occasion of the official opening of the Cabinet in the national capital of Windhoek amid a pivotal moment for the nation as it navigates through a period of transition and mourning following the passing of former President Hage Geingob on Feb. 4.
Acknowledging the challenges ahead, Mbumba declared 2024 as the “Year of Expectations” and emphasized the upcoming elections as a pivotal moment for the nation.
With heightened expectations from citizens, he urged Cabinet members to start the implementation of government plans and programs to fast-track economic development and create employment opportunities for the citizens.
“Recently, Namibia’s economic growth surpassed the pre-pandemic level, with a registered growth of 7.2 percent in the third quarter of 2023. Furthermore, according to the Bank of Namibia’s Economic Outlook, the gross domestic product (GDP) for 2024 is projected to grow to 3.4 percent,” he noted.
According to Mbumba, over the festive season, Namibia experienced one of the best tourist inflows of domestic, international, and regional tourists, with large numbers coming from the Southern African Development Community (SADC) region.
“On the energy front, green hydrogen is set to play a major role in the transformation of the Namibian economy. Its development is expected to stimulate further growth in adjacent industries, including logistics, agriculture, and sustainable manufacturing. This year, three green hydrogen pilot projects are due to start operations,” he added.
Calling for vigilance against corruption, Mbumba reaffirmed the government’s commitment to accountability and transparency, adding that they will continue to strengthen the policy measures aimed at the fight against corruption.
“During the brief tenure of my presidency, l intend to fully uphold the social contract that our late president has entered into until March 2025, with the Namibian people. Likewise, l expect you, as Cabinet ministers to support me in this regard and also to uphold the Social Contract until the end of our tenure in office,” he concluded. ■
