Namibia should capitalize on the economic and geopolitical opportunities provided by BRICS+, which will signify a strategic evolution, by establishing new economic pathways for the future, funding international development initiatives, and enhancing its standing in the international community, particularly in the global south
Friday, August 8, 2025
Namibia should capitalize on the economic and geopolitical opportunities provided by BRICS+, which will signify a strategic evolution, by establishing new economic pathways for the future, funding international development initiatives, and enhancing its standing in the international community, particularly in the global south.
This would require Namibia to diversify its international alliances strategically and balance out its traditional ties to reduce dependence on old friends who do not contribute to the country through common interests.
Through the BRICS+ cooperation, Namibia will be able to enhance its economy beyond 35 years of independence, optimize modernization and self-sufficiency, alleviate poverty, improve the standard of living and accelerate economic growth. Therefore, Namibia's readiness to join BRICS+ will foster more solid economic relations and inclusive partnership by bolstering infrastructure, people-to-people connections, economies of scale, and market integration.
Even though Namibia was not invited to the 2024 BRICS summit in Moscow, Russia, it will still join the bloc. It is a representation of how leaders in the global south think about the nature of the current order and the potential for creating an alternative. Although Namibia has done well in the areas of political and civil society development and at least moderately well economically, the country has not achieved the significant structural transformations, particularly in its economy, that are necessary for a significant improvement in living standards for the vast majority of Namibians.
For this reason, it is crucial that Namibia join the BRICS+ bloc to address its shortcomings. This will allow us to fully utilize our country's resources and talents for the benefit of all of our citizens. The BRICS + nations believe the manufacturing sector is one of the most significant sources of growth, as a result Namibia is set to experience a gradual expansion of the manufacturing and mineral processing industries. This could transform the country's economic structure and raise living standards. An increase in value-added production and exports would give Namibia the opportunity to benefit economically from international cooperation.
Given the current status of the Namibian economy, which runs the potential risk of slowing down due to a number of triggers, notably the drop in commodity prices, which caused the mining sector to contract, and the weather-induced slowdown in the agriculture sector, the economy cannot continue as it is.
High income inequality aggravates social fragmentation and poses a risk to economic growth. Economic downturn may be exacerbated by the impasse and policy uncertainty that stem from inequality's contribution to sharply divergent viewpoints. Therefore, in order to revitalize the economy, preserve jobs, draw in Foreign Direct Investment (FDI), and involve the general public, the government must take strategic action. A strategic policy focus should continue to promote competitiveness and long-term growth by way of the application of flexible trade and industrial policies.
Daily News Tanzania