Namibia economic profile
Namibia, with a long coastline on the South Atlantic, borders South Africa, Botswana, Zambia and Angola. Namibia is rich in mineral resources, including diamonds and uranium, has close economic linkages to South Africa and is a member of the Common Monetary Area (CMA) with Lesotho, Eswatini and South Africa.
Namibia is largely enjoying political stability and sound economic management. However, socio-economic inequalities inherited from the past apartheid system remain extremely high and structural constraints continue to limit employment creation. The COVID-19 pandemic is set to have an unprecedented impact on Namibia’s economy and has exacerbated pre-existing structural challenges. (Source: The World Bank)
TFSA sector work in Namibia
TFSA’s main focus in Namibia is on the aquaculture, and cosmetics and natural ingredients sectors. Production in both sectors is largely in rural areas and already have significant export, though the high-end seafood sub-sector has suffered significant setback as a result of COVID related lockdowns in the region. Cosmetics and natural ingredients enjoy a high participation of women across the value chain, and both sectors have a high potential for unlocking of further export opportunities through trade promotion, linkage to international buyers and assistance to improve compliance.
TFSA works closely with the Namibia Network of Cosmetics Industry (NANCI) to reach producers in that sector.