Namibia Repo Rate Freeze Dashes Job Hopes

Namibia's economy grows at a slow pace that fails to create enough jobs according to Bank of Namibia deputy governor Ebson Uanguta. The country expects economic growth between 3.5 and 4 percent during 2025. Uanguta told Desert FM this expansion remains insufficient for meaningful employment opportunities. The central bank kept interest rates steady at 6.75 basis points. Mining drives much of the national economy but uses machines instead of workers.

Agriculture offers better chances for job creation during busy harvest periods. Uanguta wants more government support for sectors that hire large numbers of people. He sees promise for the construction industry as officials spend more money on infrastructure projects. New schools and sports stadiums could help builders find work again. The deputy governor feels cautiously hopeful about construction recovery.

International trade barriers worry Uanguta as global tensions affect small economies like Namibia. American tariffs hurt diamond exports when they first started. Recent delays in tariff policies give hope for better trade relationships between countries. Uanguta believes trade barriers slow business and damage open economies. He wants permanent removal of tariffs through diplomatic talks.