Namibia, Botswana stress diversification in managing resource wealth

Namibia and Botswana have advanced discussions on how natural resource wealth can be transformed into sustainable and inclusive prosperity, with both countries highlighting the importance of economic diversification, strong institutions and saving for future generations.

The discussion took place during a public lecture hosted by the Bank of Namibia (BoN) in collaboration with the University of Namibia (Unam) in Windhoek on Friday. The engagement brought together BoN governor Ebson Uanguta, Bank of Botswana governor Lesego Caster Moseki, students, academics, professionals and other stakeholders to discuss resource-led development, sovereign wealth management, investment, skills development and long-term economic prosperity.

Uanguta, in his presentation titled “Building Wealth Beyond Natural Resources: Creating Namibia’s Next Growth Story”, says while resources remain an important anchor of the economy, resource wealth alone cannot guarantee broad-based prosperity, particularly given Namibia’s exposure to external shocks and its capital-intensive economic sectors.