Namibia Country Profile

Snapshot of the Namibia Country Profile


Namibia is macroeconomically stable, and the market economy functions reasonably well. The private sector is generally viewed as the backbone of the economy and as a catalyst of growth. This has led the government to pass business-friendly legislation, and several observers assess the business climate in Namibia as attractive compared to some of its neighbours. The country has considerable growth potential due to mineral wealth and its geographical position between two major economies of the region.

Positive developments in relation to corruption and investment:  

  • Observers generally agree that Namibia's legal and institutional framework for curbing corruption is adequate and among the most functional in the region.
  • The regulatory environment in Namibia is generally viewed as business-friendly and uncomplicated.
  • Namibian government's commitment to create a liberal regulatory regime, has made the country one of the least bureaucratic places to do business in the region.

Risks of corruption:

  • Some companies operating in Namibia report that interaction with tax officials occasionally entails payments of bribes.
  • Companies should notice that cumbersome and costly customs procedures are frequently associated with high levels of corruption in the form of facilitation payments made to expedite procedures.
  • The Namibian extractive industry, especially the diamond sector, is allegedly a hot spot for corruption and money laundering.