Mining weakness remains key risk as GDP growth stabilises
Namibia's economy showed signs of stabilising in the first quarter of 2026, although persistent weakness in the mining sector and higher interest rates continue to pose risks to growth for the remainder of the year, according to Simonis Storm Securities.
CHAMWE KAIRA
Namibia’s economy showed signs of stabilising in the first quarter of 2026, although persistent weakness in the mining sector and higher interest rates continue to pose risks to growth for the remainder of the year, according to Simonis Storm Securities.
Commenting on the country’s 2% year-on-year GDP growth for the first quarter, Simonis Storm economist Almandro Jansen said the latest figures indicate the economy has moved away from the near-stagnation recorded in the fourth quarter of 2025, but warned that the recovery remains uneven.
“The Q1 2026 GDP print of 2% is a stabilisation rather than an acceleration,” Jansen said, adding that the composition of growth points to an uneven recovery rather than broad based economic momentum.
