Namibia set for GDP growth

Namibia’s growth prospects look promising, although real gross domestic product (GDP) growth is expected to remain under 5% for 2015, says the African Development Bank in its Country Strategy Paper for Namibia for the period 2014 to 2018. The report notes that growth will benefit from large investment projects in mining. Downside risks associated with the global and South African economic outlook, however, remain elevated. Key risks to medium-term growth include weak global demand for mineral exports and lower Southern African Customs Union (Sacu) revenues due to the economic slowdown in South Africa.