President Netumbo Nandi-Ndaitwah has called on G20 leaders to strengthen global debt treatment mechanisms and offer concessional financing to countries demonstrating responsible debt management.
Speaking at the G20 Leaders’ Summit on inclusive and sustainable economic growth in Johannesburg, South Africa, she said Namibia has shown fiscal discipline through strategic refinancing, including the redemption of its US$750 million Eurobond.
“The redemption of our US$750 million Eurobond demonstrates fiscal discipline and responsible debt management, safeguarding resources for essential social and economic programmes in education, health and infrastructure,” she said.
Nandi-Ndaitwah said Namibia reduced interest costs, extended debt maturities and repaid high-cost loans through Eurobond refinancing, but warned that debt servicing still places pressure on development budgets.
“We need global solutions to ensure sustainability. Namibia urges the G20 leaders to strengthen debt treatment frameworks and provide concessional financing to countries that demonstrate commitment to sound debt management,” she said.
She told leaders that careful planning, transparent governance and innovative financing allow nations to balance debt sustainability with inclusive development.
“Unchecked wealth inequality threatens sustainable development and social cohesion. As we strive towards reduced inequalities, within and among countries, fair taxation, financial inclusion and social protection are essential tools,” she said.
Nandi-Ndaitwah highlighted that social protection coverage in Namibia has increased, with old-age grants reaching 98% of eligible citizens and child grants rising from 60% to 66% of vulnerable children.
“These measures ensure that vulnerable groups, particularly women, youth and rural populations, are supported in the path to prosperity. Inclusive growth must empower all citizens to share equitably in the benefits of development,” she said.
She added that Namibia is pursuing economic diversification and value addition to ensure natural resources generate broader benefits.
“For example, Namibia has implemented the Zero Hunger Road Map since 2016. This multisectoral initiative strengthened food security, promoted rural development and continues to inform national strategies, reflecting our commitment to leaving no one behind,” she said.
On Africa’s development priorities, she said regional integration, infrastructure development and fair access to global markets are essential to sustainable progress.
“We emphasise the importance of strengthening the implementation of the African Continental Free Trade Area (AfCFTA) and fostering intra-African trade. To leave no one behind, countries must mobilise adequate resources for development,” she said.
