It remains to be seen if the support the party wins is based on fair competition and a result of improved governance, or on coercion through the monopoly over state power that is vested in the military and police loyal to SWAPO. Namibia Nevertheless, several local indigenous communities (e.g., the Himba and San communities), which live in more remote parts of the country and on the margins of society, often lack identity documents and full access to public services because of their remoteness. It also makes it more difficult to delegate decisions and their implementation to ministries, since State House and the president often resume responsibilities. How the red meat industry can benefit from international markets? However, there are cases of media outlets and journalists self-censoring as a consequence of critical reporting. WebThe Namibian economy was severely impacted by the COVID-19 pandemic, experiencing a dip of 8.5 per cent in 2020. DOI: 10.9790/0661-2202015357. The Japanese currency was hovering at about 144 against the greenback in Asia trade on Thursday. The lingering impacts of the pandemic, which led to a sharp economic downturn in 2020, and the ongoing war in Ukraine continue to weigh on the countrys growth performance. To support its forward-looking and sustainable agriculture, Namibia is actively pursuing green hydrogen initiatives which can balance productivity and economic viability through responsible use of natural resources and reduced environmental impact. Frustration is also rising with regard to the continued unequal distribution of privately owned land, which is a relic of Namibias settler-colonial history and limited nationalization. The US economy grew more than previously estimated in the Coronavirus-related restrictions to freedom of assembly have been applied (with one or two exceptions) even handedly, and have been not abused by the ruling party and security organs to limit the ability of others to mobilize. The Namibian governments health care expenditure amounts to 3.7% of GDP, which is above most African countries. The statistic implies that more than half of Namibias economically active population will not be employed, resulting in significant social, political, and economic consequences. Their political role and societal appreciation are still very much shaped by their strong support for SWAPO during the independence struggle. While the overwhelming dominance in the National Assembly of the governing party (SWAPO) has declined from 80% to 65% since the beginning of the current legislative period in March 2020, the features of competitive authoritarianism are still effective and limit the influence of other political parties. But I come from two peculiar strands of experience that may have given me some useful economic insights. The fiscal deficit averaged 7.5% of GDP in 2021/22, as Southern African Customs Union (SACU) receipts and diamond earnings declined. As a frustrated local economist commented in late 2020, while the sun shone on the global economy for the last half decade, Namibia has languished, scoring a number of major policy own-goals that have left all and sundry worse off.. However, while the modified NEEEF would ease some earlier clauses, including the enforcement of a 25% local ownership (equity) requirement on every foreign company operating locally, its defined empowerment pillars allow similar provisions to be reintroduced. This weekly round-up brings you the latest stories from the world of economics and finance. The soldiers of the former SWA Territorial Force and its notorious Koevoet unit continue to be disqualified from the benefits available to veterans who fought on the side of the anti-colonial movement. The loss was to some extent a result of a lack of delivery due in part to the negative effects of an ongoing recession since 2016. WebLast update 27.03.2019 Namibia Country rating Strengths & weaknesses Economic overview Trade structure Country rating HIGH RISK FOR ENTERPRISE Economic risk Business environment risk Political risk Commercial risk Financing risk But methods of policing, and police interference and interventions in public protests have increasingly used arms, dispersing demonstrators with the use of rubber bullets and teargas. The most dramatic case to date, which emerged in November 2019 and has been dubbed #fishrot, involved two ministers and several members of state-owned enterprises. Responses to COVID-19 were not thoroughly screened or subject to self-corrective measures. Namibias democracy is headed by a president with strong executive powers. Namibia Webthe people in local communities. Strengths and weaknesses of forensic accounting: an The GPI (1.5 at tertiary level) and the female labor force (49.5%) rates seem to be slightly manipulated for cross-country comparisons. More recently, ethnically motivated resentments and tensions particularly among members of the Nama and the Ovaherero communities who feel discriminated against by the Oshivambo-speaking majority remain a factor within Namibian politics, which has been acknowledged and criticized by the president. To examine New Zealands areas of economic strength, MBIE conducted a literature review on the topic. The report highlights that the short- to medium-term outlook (2023-2024) will be challenging, despite slightly lower inflation providing relief to consumers. In that respect, recognition of the genocide committed during the period of German colonial rule is being addressed and negotiated in bilateral negotiations between the Namibian and German governments since late 2015. On March 21, 1990, Namibia achieved independence. In some cases, officeholders have been prosecuted and punished reluctantly, with the culprits allowed to remain within the highest ranks of the ruling party. It remains to be seen to what extent this will create dependencies. In contrast, environmental concerns and initiatives remain less influential, though they are able to protest against government policies and economic activities that would cause further environmental degradation. This is consistent Weaknesses Of Nuclear Families: Exclusion of extended family can lead to isolation and stress Can struggle with conflict resolution Nuclear families can become too child-focused, resulting in self-centered children and families neglecting other important things 2. The countrys Gini coefficient, which measures income inequality, remains among the highest in the world. SWOT Analysis Case Studies Local rural communities and indigenous groups in more remote areas (e.g., San, Himba and Tjimba) are disadvantaged by the lack of proper infrastructure and child labor remains a common feature in several parts of the country. One thing is certain, green hydrogen will have a positive impact on the Namibian economy. Limited economic diversification - overinvestment in mining took its toll. Namibia needs to harness this potential by creating a strong enabling environment for private climate investment through regulatory reforms that support climate-resilient sectors and de-risk low-emission private investment. The headcount poverty ratio stood at 17.4% in 2019. The most favored nation (MFN) binding average was 7.7 (2019) with 94.3% binding coverage and 37.5% special safeguards for 2018. Since this was considered an obstacle to investments, this clause was eliminated from the bill accepted by the cabinet in February 2020. The notion of solidarity is not a common feature in interactions between strangers, despite a number of initiatives displaying human compassion and humanitarian purposes. However, there is a lack of In the most well-known case to date (dubbed #fishrot), which came to public attention in late 2019, the main perpetrators have been placed under arrest while the investigations remain ongoing. While the strength of this system declined in the 2019 and 2020 elections, and the opposition has become stronger, there is no strong veto power in sight. US economy holding up; China's economic challenges continue Transparency and accountability, which are key to policy learning, are not widely practiced. Recent macroeconomic and financial developments. The high unemployment rate among people under 30 years old represents a waste of knowledge transmitted to those who pass secondary and university education. The fiscal deficit is projected to decline, driven by strong domestic resource mobilization and tax compliance efforts by the new Namibia Revenue Authority and spending rationalization efforts. Since Namibia has a natural resource-based economy, such competition exists for example between the Ministry of Environment and Tourism, the Ministry of Fisheries and Marine Resources, and the Ministry of Mines and Energy. 2019/2020 saw significant WebWEAKNESSES Dependence on the mining sector and South Africa; High unemployment, persistent inequality, tensions over land ownership, high prevalence of AIDS; High unemployment can lead to social exclusion, increased crime, economic hardship, loss of human capital, and social instability. WebNamibia Country Strategy Paper - African Development Bank This has reinforced a situation of uncertainty, which causes potential investors to postpone their investments or look elsewhere. The overall liberal economy does not limit the activities of private businesses very much. Given the declared recognition of democracy by all relevant parties as well as social movements, which consider the civil freedoms enshrined in the constitution to be the relevant normative framework, Namibia has very few anti-democratic actors (at least not declared actors). This figure has risen over time to 1,176,000 visitors in 2014. Nevertheless, no party advocates any form of undemocratic political system. Cases of such abuses of power rarely ever reach court. WebThe answer is I have a black belt in chutzpah. Not only is the population small (2.48 mn), around 14% of it is affected by HIV. Development paradigm does not need to be either or! Nonprofit SWOT Analysis As a result of a combination of factors (a decline in the global market prices for local raw materials, especially in the mining sector; economic decline in the important neighboring economies of Angola and South Africa; a long period of drought; and a fiscal policy that exceeds the countrys means), a continued recession has since 2016 drained the state coffers, which will have lasting negative consequences. The government secured $544 million in climate finance at the 2022 United Nations Climate Change Conference in November 2022. While the former liberation movement turned governing party, SWAPO, has displayed an autocratic leadership and governance style, anchored in overwhelming electoral support, it now faces a new situation: it was easy for SWAPO to pay lip service to multiparty democracy while in total political control and able to shape national policy single-handedly. On several occasions, internal party decisions have been reversed by the party leadership. WebWEAKNESSES Dependence on the mining sector and South Africa; High unemployment, persistent inequality, tensions over land ownership, high prevalence of AIDS; Agricultural sector exposed to climatic hazards; High public debt limits fiscal room for manoeuvre [15] It has the second-highest Gini coefficient out of all nations, with a WebInflation averaged 6.1% in 2022, up from 3.6% in 2021, driven by elevated global commodity prices linked to the COVID-19 pandemic and Russias invasion of Ukraine. Its trade relations are governed by its membership in the Southern African Customs Union (SACU) and the Southern African Development Conference (SADC), as well as the Southern African Economic Partnership Agreement (EPA) with the European Union. But in parallel new initiatives have emerged and gained strength, especially among the new generation of so-called born frees, whose loyalties are with values and not anti-colonial organizations. But there was an increase in animosity among political office-bearers in the governing party (including State House) toward the activities of investigative journalists and the role of media practitioners. Currency volatility also poses a significant risk in Namibia, due to fluctuations between the South African Rand and major currencies such as the US Dollar and the Euro. This is reflected in the lack of innovation in cabinet ranks, where long-standing party loyalties rather than merit are the main criteria for appointment. The claim to business as usual reduced the already low ability and willingness to learn within the ranks of the dominant party. 1. We defined areas of economic strength as specific economic or other dimensions in which a country has an advantage relative to other countries. The implementation of white papers is often hampered by inter- and intra-ministerial competition and claims over ownership, or a lack of resources and know-how. However, this support has been reduced over the years, which has caused problems for some of the more influential human rights organizations as well as local independent think tanks. Namibia has a resilient agricultural sector, with a significant proportion of the population relying on it for their livelihoods. Due to the pandemic, the already relatively high degree of household debt increased further, but it is too early to draw any conclusions regarding the likely effects of this development. The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. Namibias close relations with Zimbabwe resulted in SWAPO backing ZANU-PF policy and the downplaying of the repressions in Zimbabwe. Corporate default probability is high. Namibias most important partners remain South Africa and the European Union, and increasingly China. The former settler-colonial economic structures have only been modified to allow for the integration of a new black elite into the former privileged settler minority. The STRENGTHS and WEAKNESSES of NAMIBIA In 2023, high unemployment rates are expected to persist in Namibia. As the minister for environment and tourism stated 2019 to the parliament, the scientific projection is that if timber harvests had to be permitted at such high scale and rate as it happened until last year when it was suspended, it will take less than 20 years to bid farewell to the only forest zones we have. An investigative journalist disclosed at the end of 2020 that illegal logging continued unabated, stating that on two recent road trips through the Okavango and Zambezi regions, together covering 6,600 kilometers, he saw not a single mature African rosewood tree left standing.. Top economy stories: US economy maintains resilience in Q2, China's economic malaise deepens; Central bank leaders reaffirm policy tightening bias. Tourism in Namibia The depreciation of the Namibian dollar against the US dollar is expected, with the exchange rate forecast to reach 17.48 NAD/USD from 16.4 NAD/USD in 2022. This has changed the political atmosphere and tested SWAPOs respect for democracy, as the party is no longer in firm control. In combination with the inherited structural constraints from a century of settler-colonial rule, socioeconomic disparities, and the high degree of inequality and poverty continue to present huge challenges for governance. This could prevent any meaningful re-allocation of funds. While the National Planning Commission is in charge of the National Development Plan, it has no oversight function and cannot enforce any measures to adhere to the declared goals and strategies. The government recognizes the role of external support for its development strategies and goals, and welcomes assistance if it does not impose any limitations. Namibia has signed all relevant international agreements and adheres to a large extent to global normative frameworks. But the outcome is poor and no strict policy is applied. Namibia has one of the worlds highest Gini coefficients, which measures the inequality of income distribution. This review evaluates this literature, arguing that these methodological choices have contributed to both the greatest strengths and the greatest weaknesses of the literature in explaining cooperation among nations. According to the International Monetary Fund (IMF), Namibias real GDP growth is expected to reach 3% by 2024, which is good news for Namibian individuals and Dis-Chem Pharmacies (DCPJ) is listed on Johannesburg stock exchange. Government policy has addressed fiscal constraints and the liquidity crisis by rapidly expanding public debt, which will put further pressure on future fiscal policy. For the time being, democracy remains the only accepted political system. However, they were also not used as a pretext for introducing counterproductive new initiatives. Overall, the increased need for efficient use of capital and human resources has not been matched by government policy. However, given the perception that (and several indicators that suggest) members of the dominant party directly benefit from mismanagement or abuse of the market system, as well as local and international associates who gain from this abuse, public trust in a market-based system is not as strong as in a democracy. These deficits implied a visible increase of debt ratios: Public debt from 37% of GDP in 2015 to 55% in 2019; at the same time, external debt from 45% to 65% of GDP. Parliamentary standing committees remain inefficient since they are mainly composed of members of the dominant party and hence are unwilling to publish critical assessments or recommendations. In late 2020, licenses for the exploration of gas and oil were granted to a Canadian mining company for the ecologically sensitive region around the Okavango river delta. Generally, there is a high degree of lenience toward perpetrators. On rare occasions, people have been killed. Petroleum, petroleum products and related materials, Fish, crustaceans, molluscs and preparations thereof, Gold, non-monetary (excluding gold ores and concentrates), Information on Investment Strategy and Engagement Policy, USD 10.267bn (World ranking 131, World Bank 2016), 2.48 million (World ranking 141, World Bank 2016). WebSWOT Analysis stands for Strengths, Weaknesses, Opportunities, and Threats that Reserve Namibian encounters both internally and in macro environment that it operates in. But the regulations still to be formalized in law would allow for the reintroduction of similar measures. Both domestic and international interest rate pressures, as well as geopolitical tensions, contribute to the heightened sense of unpredictability. Parties can register without interference. Declared as an emergency budget, debt services amounted to NAD 8.4 billion, exceeding public investment of NAD 6.4 billion. While poverty has been reduced in Namibia, inequality remains among the highest in the world. Gender-based violence is widespread and often not rigorously prosecuted, while abortions are illegal and only allowed under very specific circumstances. Unlocking Namibias economic growth and opportunities in While removed from office and subsequently arrested, the two ministers remained members of the partys politburo and were not even suspended from office initially on the argument that they are innocent until found guilty. WebDuring the period under review, democracy in Namibia has been strengthened, while economic performance and management deteriorated further. The coronavirus pandemic was not used to limit these freedoms. Namibian economy | Namibia - namibweb.com The state faces a massive task in creating and maintaining proper infrastructure, especially in rural areas. With the results of the regional and local authority elections of November 2020, political diversity has been enhanced, with several parties making inroads and for the first time a large number of independent candidates campaigning. The restrictions implemented in 2020 in response to COVID-19 added to the lack of implementation of the governments declared goals, with no visible adjustment of policy strategies yet presented. Civil society organizations fully recognize the governing system and its institutions. As a result, in recent Afrobarometer surveys, trust in the ECN has declined considerably. Moreover, the elections in 2019 and 2020 demonstrated very clearly public support for democratic norms and procedures. Considerable segments of the population remain marginalized and live in relative or absolute poverty. There are no meaningful ideological programmatic strategies promoted by any party with influence that oppose a market-based system. Strategic choices have to be made if a recovery of the informal and/or formal economies are to be a priority. Environmental policy, for example, is hampered by conflicting interests between the ministries of mining, fisheries, nature conservation and the environment, which has in the past led to contradictory policies and blocked necessary interventions. The formal economy remains dependent on government investment in material infrastructure. Since 2017, gay parades have been held in various towns without interference and of late massive protests against GBV have taken place, which were well documented and supported by media reports. The increase in popular support for opposition parties since November 2019 did not result in any organized infringements on civil and political rights. Deforestation in the northeastern region has already resulted in the irreversible loss of natural habitat and environmental degradation of devastating dimensions. SWOT Analysis of Poultry Farming As a result of growing public dissatisfaction, the National Assembly and presidential elections of November 2019 were marked by a political shift, as SWAPO lost its two-third parliamentary majority by one seat and President Geingob was re-elected with a record low 56.3% of the vote. Economic In the U.N.-supervised elections for Namibias first constituent assembly following independence, SWAPO secured an absolute majority of votes. Their constant demands continue to be ignored. While there are some minor restrictions through police interference into the right to free assembly, civil liberties are widely respected. Service delivery remains unequal and requires payment prior to delivery, which at times results in the cutting of supplies to customers (including to whole towns) who are unable to pay for the bulk supply. This weekly round-up brings you the latest stories from the world of economics and finance. Namibia: Risk Assessment This average figure, however, does not reflect fundamental socioeconomic disparities. Further details on the current economic downturn have been presented elsewhere in this review. Other institutional bodies (e.g., the ombudsman, auditor-general and Anti- Corruption Commission) face material constraints (e.g., financial and staffing constraints), which negatively affect their performance. The nonperforming loans ratio fell to 5.6% at end-2022 from 6.4% the year before. 1. Namibia is an upper middle income country. These powers are an integral part of the constitution and have been expanded through amendments. This will require scrutiny of existing bureaucratic red tape and limits to local valorization. The presidents repeated pledge to pursue a strict anti-corruption policy is met with growing disbelief. As President Geingob informed a cabinet meeting on December 1, 2020, an NAD 8.1 billion economic stimulus package would be rolled out during the year to ease the negative effects. Given the overall control, the need for policy adjustments has been either ignored or has failed to be realized. While several parties have national appeal and secure support in many if not most regions, several others have clearly rooted ethnic-regional support bases and affiliations. Strengths. At Nedbank Namibia CIB, seeing money differently is about more than finding solutions for current problems. Windhoek hosts the SADC tribunal and SACU headquarters. After 30 years of independence, Namibia is at a crossroads regarding its political future. Based on 2015 data, the U.N. Education Index ranked Namibia 129 overall in 2019 (down from 127). Inflation averaged 6.1% in 2022, up from 3.6% in 2021, driven by elevated global commodity prices linked to the COVID-19 pandemic and Russias invasion of Ukraine. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger Namibia Economy This has since resulted in a reduced state budget and a worrying debt spiral due to the need to borrow in order to maintain fiscal liquidity. WebEconomic growth (% unless otherwise indicated) 2022 2023 2024; US GDP: 2.1: 1.0: 1.0: OECD GDP: 2.8: 1.0: 1.5: World GDP: 3.1: 2.2: 2.5: World trade: 3.9: 2.2: 3.2: Source: The Economist Intelligence Unit Given the relatively little economic weight of Namibia, its influence remains limited and its contributions to regional integration is at best modest. Namibian democracy, therefore, seems to function, though individual members of SWAPO have voiced their frustration about the decline in support for the governing party by advocating for undemocratic means in order to limit the influence of opposition parties. Source: African Economic Outlook (AEO) 2023, Macro-economics Policy, Forecasting and Research, Independent Development Evaluation (IDEV). However, the New Equitable Economic Empowerment Framework (NEEEF) caused significant concern, since it originally included a mandatory equity clause that 25% of ownership should be locally owned by members of previously disadvantaged groups. Foreign policy is mainly oriented toward the Non-Aligned Movement and the African Union. Dis-Chem Pharmacies SWOT Analysis / Matrix - EMBA Pro Namibia has occasionally closed its eyes to human rights violations in other countries with which it maintains friendly relations. Some people, like some of the women I know, have a black belt in spending. The dominant party and its government coopted civil society actors (e.g., trade unions and churches) following independence, and since then have to a large extent neglected consultations with NGOs and other relevant representatives of civil society. Emergency measures introduced in response to the coronavirus pandemic required a slightly modified annual budget for 2020/21.

Pattaya Wildlife Sanctuary, Best Campgrounds In Arizona, Articles N