Editorial: Namibia's 2026 economic protections offers little hope

The Bank of Namibia’s projections on economic growth for 2026 offer little evidence of a clear revival driven by domestic structural change. The anticipated recovery appears to rest largely on conditions beyond the country’s direct control. In its December 2025 Economic Outlook, the central bank noted that after growth slowed to about 3.0% in 2025, economic momentum is expected to return in 2026. This follows a difficult year marked by weak manufacturing performance, fragile primary industries, persistent drought conditions and subdued global demand, all of which weighed heavily on output and incomes. The expected rebound is anchored mainly in improved rainfall that could revive agriculture. While good rains would bring relief to farmers and rural households, rainfall is a matter of chance, not policy. It is a fragile foundation on which to build confidence in recovery. The remainder of the growth story is driven by a sustained upswing in construction, increased electricity generation and stronger uranium output. These sectors can lift headline GDP figures, but they are largely capital-intensive and offer limited immediate benefits to employment and household incomes. Uranium, in particular, remains exposed to volatile global markets.