By: Hertha Ekandjo
The African Development Bank (AfDB) has urged Namibia to focus on national development plans that capitalise on its comparative advantages.
In its 2024 Country Focus Report titled “Driving Namibia’s Transformation: The Reform of the Global Financial Architecture,” the AfDB emphasised the need for Namibia to align its development strategies with its unique economic strengths.
Namibia’s rich diamond resources have significantly contributed to the country’s structural transformation and overall development.
However, the AfDB notes that while diamonds have been pivotal, the recent discovery of oil presents an additional opportunity for substantial economic growth.
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