The Bank of Namibia hosted its annual diplomatic stakeholder engagement on 3 June 2025, bringing together heads of mission, multilateral institutions and development partners. In the keynote address, Governor Johannes !Gawaxab framed heightened geopolitical, trade and technological shifts as increasing uncertainty, and reaffirmed the central bank’s mandate to maintain price stability and financial stability. An accompanying economic presentation projected subdued global growth of 2.8% in 2025 and 3.0% in 2026 amid ongoing volatility in trade and financial markets. Namibia’s growth was expected to improve to 3.8% in 2025 and 4.0% in 2026, supported by agriculture, non-diamond mining, electricity and water, and construction, while noting external pressures from lower diamond prices and potential tariff impacts on some exports.
Bank of Namibia 2025-06-04
Bank of Namibia hosts annual diplomatic engagement and reiterates stability mandate while outlining 2025 to 2026 growth outlook
The Bank of Namibia's annual diplomatic stakeholder engagement highlighted geopolitical, trade, and technological uncertainties. Governor Johannes !Gawaxab emphasized the central bank's commitment to price and financial stability. The economic outlook projected global growth of 2.8% in 2025 and 3.0% in 2026, with Namibia's growth expected to reach 3.8% in 2025 and 4.0% in 2026, driven by agriculture, non-diamond mining, electricity and water, and construction sectors. External pressures include lower diamond prices and potential tariff impacts on exports.