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By Diana Sackaria. Namibia is not a poor country. Since independence in 1990, its gross domestic product has grown from roughly N$7.2 billion to over N$260 billion, a more than thirtyfold expansion. Offshore oil discoveries, a booming mining sector, and relatively stable institutions have led many observers to describe Namibia as an emerging success story. Yet more than one in three Namibians who want work cannot find it. Among the youth, the figure approaches one in two. This is not a temporary imbalance. It is a structural failure. The problem is not that Namibia has failed to grow. It is that it has grown without transforming. Wealth accumulates at the top of the value chain in extraction, export revenue, and government accounts, while the labour market remains largely untouched. Until that changes, no amount of GDP growth will resolve the unemployment crisis. What Economic Transformation Actually Means Economic transformation is...

Nedbank Namibia has been honoured with the 2025 Straight Through Processing (STP) Award by Commerzbank AG, recognising the bank’s ability to deliver reliable cross-border payment services. The 2025 achievement adds to the Commerzbank STP Awards won in 2012, 2014, 2021, 2022, and 2024. According to Nedbank, the award is granted annually to a limited number of correspondent banking partners worldwide that demonstrate outstanding quality in processing commercial payments and financial institution transfers. The assessment used to determine award recipients is based on stringent global standards, including the accuracy, completeness, and formatting of payment data, which enables transactions to be processed automatically without manual intervention. The bank highlighted STP as a critical benchmark in international banking efficiency. However, despite advances in global payment systems, the average global STP rate for cross-border payments remains as low as 26%. This means that nearly three-quarters of international payments still require manual repair or intervention....