Namibia unveils new plan to grow by 7%
Namibia unveiled an ambitious development plan targeting average economic growth of 7% over the next five years, as it seeks to restore its upper-middle-income status by the end of the decade.
The arid southwest African nation was downgraded by the World Bank to lower-middle-income earlier this month after its gross national income per capita fell slightly below the $4 496 (R8 700) threshold to maintain the higher status, amid weaker economic activity and increased population growth. The economy grew 3.7% last year from 4.4% in 2023, due to a decline in mining activity.
'We take this to be a temporary setback,' President Netumbo Nandi-Ndaitwah said in the foreword to her government's latest national development plan published Monday. 'It is possible to increase the per capita income above $6 000 by 2030.'
The plan seeks to increase Namibia's GDP per capita by prioritising green hydrogen, renewable energy, and value-added manufacturing to boost growth.
It wants to almost double its renewable energy capacity to 700 megawatts by 2028 and create 30 000 green jobs by 2030. Green hydrogen, in particular, is expected to anchor new industrial development and support clean energy exports.
The country is also targeting significant increases in its production of oil and gas by the end of the decade.
Namibia, one of the world's top uranium producers, is positioning itself as a hub for green hydrogen and critical minerals. It also expects to begin the production of offshore oil and gas discoveries as early as 2029.
It seeks to increase the share of manufacturing in its GDP to 18% from 15.6%.
To finance its goals, the government will draw on domestic and international public and private finance, while channelling resource revenues — particularly from mining, oil, gas, and green hydrogen — into strategic investments.
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In your government's view, why is he wrong? : So the reason why President Macron made this decision is that it was absolutely necessary to restart a political process, the two state solution process that was- that is today threatened, more threatened that it- it has ever been. And the conference that will take place in New York tomorrow and Tuesday is a very significant milestone, because by- by- by recognizing, or announcing the recognition of Palestine, France has been able, alongside Saudi Arabia, that has- that will be co chairing this conference with us, to collect very significant historic commitments by all stakeholders, including the Palestinian Authority president and Arab countries, in favor of the two state solution, and guarantee security guarantees for Israel. The two state solution is very simple, and I think everyone can understand what we mean by that. The only way to bring peace and stability back in this region is to have two state, the state of Israel and the state of Palestine, living side by side in peace and in security. This perspective is now threatened, and it's why the- the dynamic that we have initiated was so important, and this is why the conference that will take place in New York is such an important milestone. All these efforts are very, very complementary to the efforts that the U.S. have done in the region since the first term of President Trump. We share the short-term objective: immediate cease-fire, liberation of all hostages of Hamas that needs to be disarmed. We share the long term objective: peace and stability in the region. And what we're doing, by bringing the Palestinian Authority leader to recognize seventh of October as a terrorist attack, by calling the Hamas- the disarm- for the disarmament of Hamas and the liberation of hostages, by committing to deep reform of the Palestinian Authority, and by committing to elections within one year, by bringing the Arab countries for the first time to condemn Hamas and call for its disarmament, we are creating, or recreating, the conditions for this political solution that, again, is the only path forward, and we are paving the way. We're paving the way for the future Abraham Accords that the U.S. administration might lead. So I see our effort as very complementary to the U.S. administration's effort, rather than substitutes. MARGARET BRENNAN: Minister Barrot, the president of the United States dismissed what President Macron said, the U.S. Ambassador mocked it. Do you believe that your plans can succeed without U.S. support? : Again, our efforts are very complementary . We share the short term objective, cease-fire, liberation of all hostages of Hamas, and the long term objective, peace and stability in the region. In fact, we will welcome any further efforts led by the U.S. to implement the Abraham Accord logics. And what we're doing now with this very significant conference that will take place in New York will pave the way for such accords. But in the meantime, until the U.S. administration provides, through the Abraham Accord logics, a political horizon for this crisis, we need to act in order to facilitate the- or create an off ramp for the catastrophe ongoing in Gaza. Now the terms, we will welcome and support future Abraham Accords, but in the meantime, inaction is not an option. MARGARET BRENNAN: I want to ask you briefly about an incident that has gained a lot of attention this past week involving some young French citizens who were removed from a flight from Spain. The airline claims they were kicked off for being disruptive. The Israeli government came out though and said the French students were removed because they're Jewish. Have you determined whether this was indeed an act of antisemitism? : I have called the CEO of this company, who has- to express our- our serious preoccupation. She has confirmed that an internal investigation is ongoing. My team has been reaching out to the ambassador of Spain in- in France, and we've made the same request. We'll keep following this situation as it unravels MARGARET BRENNAN: So too- too early to say, despite what the Israeli government is indicating. : I cannot comment on that at this point. 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How concerned are you that after these bombings, Iran may now covertly attempt to make a weapon, and the world won't know? : This is still a risk that we are facing, and alongside Germany and the UK, we have been very clear, Iran cannot have a nuclear weapon, and we've been, over the past few months, reaching out to the Iranian authority in close coordination with U.S. authorities in order to express what our expectations are. Ten years ago, we reached a deal on the nuclear program that allowed for a significant rollback of Iranian nuclear capacity. Of course, things has changed. Still then, and since then, Iran has violated all commitments it had taken at the time of signing this agreement. We now want a more comprehensive agreement that would encompass both the nuclear dimension of Iranian destabilization activities, but also it's the ballistic component, as well as the regional destabilization activities that Iran has been conducting, unless we- unless a new and robust and durable and verifiable agreement is reached by the end of the summer, France, Germany and the UK will have no other choice but to reapply the global embargoes that were lifted 10 years ago when the nuclear agreement with Iran was signed, embargoes on weapons, on nuclear equipment, and on banking. MARGARET BRENNAN: So France is ready to snap back sanctions on Iran as soon as August. Are you asking Iran to speak directly to the United States in order to avoid that fate? : We've been speaking with Special Envoy Witkoff, Secretary Rubio, on a weekly basis on this topic that is highly important for the U.S., as for Europeans. We- we have supported U.S.-led efforts to enter into discussions with Iran. We have pressed Iran, after the 12 day war, to go back to a discussion with the U.S., and we'll keep pressing them to do so, because indeed, if there is no solid agreement that can be found by the end of August, we will have no other option but to snap back, meaning to reapply those global embargoes, and we are ready to do that. MARGARET BRENNAN: Minister Barrot, thank you very much for your time this morning.
