• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
13 °c
Columbus
19 ° Tue
21 ° Wed
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Namibia poised for an economic boom – Steytler

by editor
April 6, 2023
in Business & Economy
44
A A
57
SHARES
951
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

Women now lead over 70% of Namibian SMEs

Namibia seeks stronger U.S. partnerships at Africa Business Summit

April inflation rises to 3.6%, driven by food and housing costs

Namibia is on track to experience seven years of an economic boom, according to former Presidential economic Advisor, John Steytler.

Steytler emphasised the need for business reforms to sustain the growth. He pointed out that required business reforms must be implemented for economic growth to be achieved.

“We have already begun to enter seven good years in 2022, and while some economists may disagree, there are increasing signs that the recovery is on track. For example, last year we discussed green shoots, which are becoming more visible,” Steytler told a recent event in Windhoek.

Steytler’s sentiments come as Namibia expects economic growth of 3.2% in 2023, down from an earlier forecast of 3.4% reflecting lower mining output estimates this year according to the Ministry of Finance and Public Enterprises. However, Steytler said the primary surplus – for the first time in a while – from the national budget is encouraging.

“What this means is that if we can continue with the trend, eventually our debt will start to calibrate. I think that with the economy growing and primary surpluses and increased diamond production, we are entering a very good space of recovery,” he said.

Despite geopolitical tensions, Steytler observed that there were encouraging signs of recovery projecting growth for the tourism and mining sector.

“There are some sectors that are not at pre-Covid levels, considering that many of the sectors we have seen are at pre-Covid levels. The tourism industry is one of the sectors showing good recovery, despite not yet reaching pre-Covid levels. If things continue as they are, we should see more and more recovery, but we must not forget that we are still suffering from ‘LongCovid,’ which people who had Covid experienced. The same is true for the economy,” he said.

However, Steytler emphasised that some of this good improvement won’t be felt right away, particularly at the individual level.

“There are a lot of positive things happening in Namibia right now, but the question is what we will do with this recovery and whether we will use the seven prosperous years to prepare for the seven lean years that will come after. Income peaked in 2015, and it will still be a few years before we return to income levels from that year,” he reiterated.

Reforming the business environment is one thing that needs to be done quickly in order to stabilise the economy, according to Steytler. This includes monitoring spending habits and the public-private sector involvement in the administration of state-owned enterprises.

Steytler said state-owned enterprises should follow a business model used by Debmarine Namibia, which involves joint ventures between the public and private sectors.

“If more SOEs followed this model, success stories like Debmarine and MTC might be more observed. We can allow the private sector to help the government run state-owned enterprises in a manner akin to how Debmarine is run if we take the risk of reducing some of the ownership in the state-owned enterprises we currently have. Additionally, if we look at MTC, where the public and private sectors work together, we see better results than just state growth,” he said.

author avatar
editor
See Full Bio
Tags: economy
Share23Tweet14Share4
Previous Post

Namibia, Angola explore mining industry synergies

Next Post

Namibia’s investment leads at N$161 billion, with 122,000 potential jobs

Recommended For You

Women now lead over 70% of Namibian SMEs

by reporter
July 8, 2025
0
Women now lead over 70% of Namibian SMEs

More than 70% of Namibia’s small and medium enterprises (SMEs) are led by women, according to First National Bank (FNB) Namibia, highlighting a shift towards more inclusive entrepreneurship...

Read moreDetails

Namibia seeks stronger U.S. partnerships at Africa Business Summit

by reporter
June 23, 2025
0
Namibia seeks stronger U.S. partnerships at Africa Business Summit

Namibia will participate in the 2025 U.S.-Africa Business Summit, with the country’s attendance aimed at deepening economic ties with the United States and promoting investment and trade opportunities....

Read moreDetails

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails
Next Post
Namibia’s investment leads at N$161 billion, with 122,000 potential jobs

Namibia’s investment leads at N$161 billion, with 122,000 potential jobs

Related News

SA load shedding to remain – Ramaphosa

SA load shedding to remain – Ramaphosa

November 25, 2021
Oceana CEO quits amid accounting struggles

Oceana CEO quits amid accounting struggles

February 16, 2022
AB InBev invests N$2.1m in Okahandja water storage project

AB InBev invests N$2.1m in Okahandja water storage project

April 5, 2024

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • Namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.