Namibia could attract investment worth an estimated N$34 billion (US$2.13 billion) and create up to 26,000 direct jobs by reducing its reliance on raw commodity exports and expanding value-added production, according to a new assessment by the United Nations Trade and Development (UNCTAD).
The findings outline pathways for broadening the country’s economic base beyond mineral extraction.
Speaking at the launch, Chief of the Extractive Commodities Section at UNCTAD, Clovis Freire, said the study focuses on identifying higher-value products that Namibia could competitively produce and export, as part of efforts to reduce exposure to global commodity price volatility.
“The strategy emphasises sector-specific interventions rather than broad, generic reforms. If implemented effectively, Namibia could attract US$2.13 billion in investment and create 26,000 jobs. The country has infrastructure, institutional capacity and a skilled workforce to build on these opportunities,” Freire said.
He noted that economic diversification creates a cumulative effect, strengthening productive capabilities and enabling further expansion into new industries over time.
The assessment identified 200 products that Namibia does not currently export but could produce with at least an 85% probability of success. Of these, 33 are directly linked to mining activities, while 167 extend into sectors beyond extraction, including chemicals, copper products, electrical machinery, iron and steel manufacturing, food processing, pharmaceuticals and mechanical equipment.
The analysis estimates export opportunities valued at N$13.11 billion (US$810 million) in growing global markets, particularly across Asia, Europe, Africa and North America. China was identified as a key potential market, alongside established trade partners such as South Africa and France.
Beyond export growth, the report highlights import substitution opportunities exceeding N$21.05 billion (US$1.3 billion), particularly in the chemicals and pharmaceutical industries, where Namibia currently relies heavily on imports but could develop domestic production capacity.
Regional demand also presents additional prospects, with neighbouring markets expanding by approximately N$6.48 billion (US$400 million) annually, creating further opportunities for locally manufactured goods if production capabilities are strengthened.
“Through this process, we identified 200 products that Namibia does not currently export but could potentially export with an 85% probability of success. These products have growing demand in global markets, representing approximately US$810 million in export opportunities,” Freire said.
The report forms part of broader efforts to support Namibia’s transition towards a more diversified and resilient economy, leveraging opportunities arising from the global energy transition while building industrial capacity beyond the extractive sector.
