The African Development Bank (AfDB) Group has approved an allocation of N$30.3 billion (US$1.78 billion) for Namibia under its newly adopted Country Strategy Paper for 2025-2030.
The programme aims to strengthen infrastructure, human capital and economic diversification.
Moono Mupotola, the group's deputy director general for southern Africa and country manager for Namibia, says the five-year programme is designed to tackle inequality and long-standing structural barriers.
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"This strategy marks a pivotal moment for Namibia's development. By focusing on strategic infrastructure and human capital development, we are laying the foundation for inclusive growth that will benefit all Namibians, particularly the young," she says.
According to the AfDB, youth unemployment remains above 40%, while per-capita income has declined from N$101 100 (US$5 942) in 2012 to N$72 100 (US$4 240) in 2024.
The bank says the financing will support transport, energy and water infrastructure to lower business costs, stimulate investment and position Namibia as a regional logistics hub.
Mupotola says planned investments will support Africa Continental Free Trade Area-linked trade efficiencies, strengthen energy security through renewable projects and expand clean water and sanitation in underserved areas.
The AfDB notes that the interventions are expected to lift electricity access from 59.5% toward universal coverage and improve cross-border connectivity with Angola and Zambia.
The strategy also focuses on market-aligned technical and vocational training, micro, small and medium enterprise (MSME) support and women's economic empowerment, with the AfDB stating that these measures are intended to strengthen employment pathways and widen participation in the economy.
"Recent US tariff impositions and official development assistance cuts have created additional pressures on Namibia's economy. Our strategy strengthens resilience by diversifying export markets, enhancing regional integration and building domestic productive capacities," Mupotola says.
The AfDB adds that the programme is expected to support economic diversification beyond mining and agriculture, increase manufacturing capacity, deepen MSME participation in value chains and create thousands of jobs.
The latest allocation builds on N$11.2 billion (US$658.1 million) in AfDB financing over the past decade, with supported projects including the Walvis Bay Port expansion, national railway upgrades and improvements to 27 education institutions across all 14 regions.
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