Financial Data
Updated 06 Dec 2020


Related sections


Known as ‘the gem of Africa’, Namibia is a coastal country in southern Africa and the first country in the world to incorporate environmental protection into its constitution. Its neighbouring countries include Botswana, South Africa and Angola.

Namibia is home to the Namib Desert, the oldest desert in the world. Its abundance of natural resources and the growing need for affordable products and services makes it a viable destination for businesses look to capture a receptive new market.




Download fact sheet

Social overview


Namibia’s population count stands at 2 212 307, with approximately 64.6% of the population falling between 15 and 64 years of age. The country boasts a relatively high adult literacy rate of 81.9% due to compulsory free education for citizens aged between six and 16.

Unemployment in the formal-sector is estimated to be as high as 50% and, as a result, Namibia has one of the highest Gini coefficients in the world, at 74.3. The richest 10% of the population earn 107 times more than what the poorest 10% of the population earns. The majority of Namibians live in extreme poverty due to large-scale unemployment and unequal income distribution.

Namibia’s population is made up of Ovambo, Kavango, Herero, Damara, Nama, Caprivian, San, Baster, and Tswana people. 80% of the country’s population is Christian and the main spoken languages include Oshiwamba, Nama/Damara, English and Afrikaans.

HIV/AIDS infections remains a challenge in Namibia, and as a result its working population has decreased, while the number of orphans has increased. Malaria is also becoming a concern within the country due to the prevalence of HIV/AIDS.

According to the United Nations World Food Programme, more than 42% of Namibians do not have enough food to eat, affording businesses moving into the country an opportunity to assist the country with healthcare and food security. 


Namibia’s people
  • Population: 2 212 307
  • Main  languages: Oshiwamba, Nama/ Damara, English and Afrikaans
  • Namibia has a high adult literacy rate of 81.9%. There is compulsory free education for those aged between six and 16.
  • Formal-sector unemployment is estimated to be as high as 50%.
Environmental overview

Businesses breaking ground in Namibia must be prepared to tackle several environmental issues, which include limited natural fresh water resources, desertification, wildlife poaching, habitat fragmentation and land degradation. Because of these challenges, there are few fully-protected conservation areas in the country.

Most of Namibia experiences periods of drought, while its largely arid climate and heavy reliance on the extraction of natural resources for economic development have pushed conservation and resource management to the top of the authorities’ development agenda.

With a view to improve business opportunities in the country and to advance the life of its citizens, Namibia has signed a number of international agreements. These agreements serve to protect Antarctic-marine living resources, biodiversity, climate change, desertification, endangered species, hazardous wastes, law of the sea, ozone layer protection, wetlands and the Kyoto Protocol.

The environment
  • Environmental issues in Namibia include limited natural freshwater resources, desertification, wildlife poaching, habitat fragmentation and land degradation. Because of these problems, there are few fully protected intact conservation areas.
  • Most of Namibia experiences long periods of drought.
Technology overview

Namibia boasts a relatively high mobile market penetration rate of 78%; however, Internet penetration rates are much lower, at 15.8%. Businesses looking to offer IT-based products or services should note that the mobile penetration rate is therefore much higher than the internet penetration rate.

Fixed-line telephone subscription is even lower than the internet penetration rate, at eight connections per 100 people and the country has two mobile operators – MTC and TN Mobile.

Growing demand for connectivity from customers will cause the country’s data services market to grow. This growth will come from the arrival of international bandwidth from submarine cable systems, the increasing use of mobile devices to access the internet, and greater investment in wireless access.

If you are looking to become a part of Namibia’s IT sector, there’s a number of opportunities for you to take advantage of, including app-based lifestyle solutions, mobile money solutions and travel and tourism solutions.

Tech outlook
  • Namibia has a high mobile market penetration rate of 78%; however, internet penetration rates are much lower at 15.8%.
  • Data services growth will come from the arrival of international bandwidth from submarine cable systems, the increasing use of mobile devices to access the Internet, and greater investment in wireless access.
Rate It12345rating

Introducing the bank’s advice for new entrants to farming

Considering going into farming? Head of Agribusiness, Nico Groenewald gives top advice on common mistakes to avoid and how to overcome the barriers to entry in agribusiness.

Login to comment