By Dr. John Steytler
The President of the Republic of Namibia, His Excellency Dr. Nangolo Mbumba’s New Year message to the nation emphasized that 2025 will be the year the country should cement its developmental interventions to become stronger and better for current and future generations.
This foresight and clarion call to grow the country socio-economically resonated with me and is in line with the strategic business objectives of the Development Bank of Namibia.
Fortunately, after three and half decades of well-thought-out targeted policies, systems, and sound institutions that were developed, Namibia is now positioned to be better after weathering major storms of the past decades. As a nation, we can focus on executing socio-economic projects and programs that deliver real, sustained economic growth.
2025 presents a unique opportunity to aggressively pursue carbon projects, agriculture and agro-processing industries, amongst others, that have the potential to match job opportunities with the immediate needs of the unemployed youth while simultaneously addressing food security in the country.
Furthermore, plans to roll out renewable energy projects and lay the groundwork to explore potential nuclear energy projects could bolster Namibia’s economic standing now and in the future. Continuous investment in infrastructure will carry and cushion potential economic obstacles. Modern and functional water, telecoms, and rail infrastructure is a must for positive developmental impact.
As we look toward the dawn of a new era in March 2025, Namibia will usher in the first female President, Her Excellency Netumbo Nandi-Ndaitwah. Her presidency promises an impactful socio-economic plan, designed to create thousands of jobs in innovative ways. Dr Netumbo will soon set out her stall to facilitate an enduring economic recovery. DBN is committed to supporting these plans by deploying capital to fuel growth in prioritized sectors of the economy.
We, as Namibians, have the potential to add significant value to key sectors, driving continued growth and expansion. By investing in learning, training, and upskilling, we can ensure that, in the coming decades, Namibians are not only employed but excel as qualified engineers, managers, trainers, lawyers, doctors, and technicians. This inclusive approach will help build a diverse and resilient economy, capable of withstanding external challenges.
DBN firmly believes in developing and giving opportunities to previously marginalized and underrepresented population groups, such as the youth, women, and those in rural communities. By embracing the ambitious plans of the incoming President and supporting our present President’s drive and commitment to developing the country socio-economically for our present and future generations, we certainly have our work cut out for us.
The economic growth and Foreign Direct Investment (FDI) we see now is the reward or ‘gain’ for all the years of investment and hardship Namibia endured, which Covid-19 compounded. In 2025, I believe we are ready for this growth, and the youth is excited about the potential in Namibia.
That is where the spring in our step comes from. The economic indicators reflect our development. We can be the model for the rest of Africa, where a revitalized nation and its resilient populace are active, motivated, and ready to participate in the growing economy. We know that present and future generations will benefit from embracing opportunities.
The year, 2025 will prove to be a pivotal year for Namibia, and we, as DBN, plan to support, help develop, and embrace the opportunities presented to us as a nation and our economy.
*Dr. John Steytler is the CEO of the Development Bank of Namibia (DBN)
