Business Reporter<\/p>\n\n\n\n
THE Ministry of Finance has welcomed the African Development Bank\u2019s (AfDB\u2019s) approval of Namibia\u2019s Country Strategy Paper covering the period 2025\u20132030, together with a commitment of a US$1.78 billion (N$30.3 billion) investment approval window for Namibia.<\/p>\n\n\n\n
Dr Michael Nokokure Humavindu, the Executive Director within the Ministry of Finance, explained that the Namibia Country Strategy Paper is a country engagement framework that outlines strategic priorities to drive the national development agenda through grants, loans and technical assistance.<\/p>\n\n\n\n
\u201cIt is a five-year plan, through which the country submits projects that need to be funded within the five years,\u201d Humavindu said.<\/p>\n\n\n\n
He added that the strategic priorities include infrastructure development, which would focus on investments in transport, energy and water infrastructure that will reduce business costs, enhance productivity and position Namibia as a regional logistics hub.<\/p>\n\n\n\n
\u201cThese improvements will strengthen trade under the African Continental Free Trade Area, expand renewable energy for energy security, and improve rural access to clean water and sanitation,\u201d Dr Humavindu said.<\/p>\n\n\n\n
Another priority, he added, includes a strategy that will boost technical and vocational training aligned with market needs, create pathways from education to employment, support micro, small and medium enterprises (MSMEs), and advance women\u2019s economic empowerment.<\/p>\n\n\n\n
In addition, the executive director said that Namibia would use the Country Strategy Paper (CSP) as a financing tool for development beyond its role as a strategic framework.<\/p>\n\n\n\n
\u201cThe CSP serves as a powerful financing instrument for Namibia\u2019s development agenda. By securing US$1.78 billion in concessional loans, grants, technical assistance and market-based resources, the CSP enables the Government to leverage additional funding from other development partners and private investors through co-financing arrangements,\u201d Dr Humavindu said.<\/p>\n\n\n\n
He added that the strategy would also reduce fiscal pressure by channeling long-term, affordable financing into priority sectors without compromising macroeconomic stability, and accelerate project implementation by providing predictable, multi-year funding aligned with national priorities.<\/p>\n\n\n\n
In conclusion, Humavindu said that the strategy places strong emphasis on empowering micro, small and medium enterprises (MSMEs) as engines of inclusive growth.<\/p>\n\n\n\n
To ensure MSMEs benefit from this strategy, MSMEs will have access to tailored credit facilities and guarantee schemes under AfDB-supported programmes.<\/p>\n\n\n\n
In addition, they will be granted access to capacity building through training and advisory services, which will help MSMEs improve productivity, adopt technology, and meet quality standards for regional and global markets, among other benefits.<\/p>\n\n\n\n
Further details on MSME application processes and eligibility criteria will be announced by the Ministry of Finance and the Development Bank of Namibia as implementation begins.<\/p>\n\n\n\n
\u201cThe implementation of the CSP is expected to contribute to the diversification of Namibia\u2019s economy beyond mining and agriculture, integrate MSMEs into regional value chains, and enhance manufacturing capabilities while creating thousands of jobs. Infrastructure upgrades will increase electricity access from 59.5% toward universal coverage, improve trade connectivity with Angola and Zambia, and reduce logistics costs. The strategy also supports Namibia\u2019s climate commitments and positions the country as a leader in inclusive, green and sustainable industrialisation. The CSP builds on the AfDB\u2019s strong track record in Namibia, where it has invested US$6.58 billion in the last decade in projects such as the expansion of Walvis Bay Port, railway upgrades, and educational infrastructure across all 14 regions,\u201d Dr Humavindu concluded.<\/p>\n\n\n\n
Photo: flickr<\/p>\n","protected":false},"excerpt":{"rendered":"
Business Reporter THE Ministry of Finance has welcomed the African Development Bank\u2019s (AfDB\u2019s) approval of Namibia\u2019s Country Strategy Paper covering the period 2025\u20132030, together with a commitment of a US$1.78 billion (N$30.3 billion) investment approval window for Namibia. Dr Michael Nokokure Humavindu, the Executive Director within the Ministry of Finance, explained that the Namibia Country …<\/p>\n","protected":false},"author":10,"featured_media":387365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-387364","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\n