The African Development Bank Group (AfDB) has approved a $1.78 billion Country Strategy Paper (CSP) for Namibia, aimed at driving economic transformation and inclusive growth from 2025 to 2030.

The funding is expected to tackle the country’s pressing challenges, including youth unemployment exceeding 40% and a decline in per capita income from $5,942 in 2012 to $4,240 in 2024. It will also support job creation and economic diversification.

The CSP focuses on two main priorities. First, investment in transport, energy, and water infrastructure to reduce business costs, improve productivity, and position Namibia as a regional logistics hub.

Projects under this pillar will support trade facilitation through the African Continental Free Trade Area, strengthen renewable energy capacity, and expand rural access to clean water and sanitation.

Second, the strategy targets human capital development through market-relevant technical and vocational training, MSME support, and initiatives to advance women’s economic empowerment.

Infrastructure improvements under the plan aim to increase electricity access from 59.5% toward universal coverage, enhance trade connectivity with Angola and Zambia, and reduce logistics costs.

The strategy also aligns with Namibia’s climate commitments, including positioning the country as a leader in green hydrogen production.

The CSP builds on AfDB’s decade-long engagement in Namibia, which has included investments totalling $658.1 million in projects such as Walvis Bay Port expansion, railway upgrades, and 27 educational institutions across all 14 regions.

Source: Africabusinessinsider