Namibia: Namibia's economy is projected to grow by 2.6 per cent in 2026, with a further expansion to 2.9 per cent expected in 2027, according to the latest outlook released by the Bank of Namibia (BoN).

According to Namibia Press Agency, in a press statement issued on Monday, the central bank indicated that the domestic economy is estimated to have grown by 1.7 per cent in 2025 before improving moderately over the medium term. The statement highlighted that the domestic economy is projected to expand marginally by 2.6 per cent in 2026 and by 2.9 per cent in 2027.

The statement further explained that the anticipated growth will be largely supported by expansion in the secondary and tertiary sectors. Key areas of growth include construction, electricity and water, wholesale and retail trade, financial services, as well as public administration and defence. Additionally, uranium mining is expected to remain a significant source of growth within the primary industries, bolstered by increased production from existing operations.

Despite the positive outlook, the Bank of Namibia cautioned that the forecast remains subject to several risks. These include regional animal disease outbreaks and global economic uncertainties. The statement cited factors such as Foot-and-Mouth Disease outbreaks in neighbouring countries and geopolitical tensions that may impact commodity prices and exchange rates as potential challenges to the economic outlook.