Adolf Kaure
The Economic Association of Namibia (EAN), in partnership with Capricorn Group and the Hanns Seidel Foundation Namibia (HSF), convened a high-level public discussion on the 2026/2027 National Budget on Tuesday in Windhoek.
The discussion was held under the theme ‘The National Budget at a Pivotal Moment: Choices, Trade-offs and Economic Direction’ and was centred on key issues shaping the upcoming budget.
High Economic Intelligence’s (HEI) managing director and EAN associate member Salamo Hei outlined key developments in the global, regional and domestic outlook, budget trends, choices, trade-offs and economic direction.
“We don’t have a growth problem. The reality is that our growth is not inclusive. It is important that this growth becomes more inclusive, expands and takes into account greater population participation. For us to get to the inclusive growth we want to see, the structure of the Namibian economy needs to change,” he said.
Hei highlighted the oil and gas sector’s crucial role in aiding Namibia’s economic growth.
“The oil and gas discoveries present opportunities. We must, therefore, try to use this as an opportunity to deal with our issues of high unemployment, high inequality and exclusive growth that we have to try to bring it into inclusive growth,” he added.
The event included a thought-provoking panel discussion interrogating the practical implications of the upcoming budget.
The discussion also focused on critical trade-offs that the government faces.
One of the panellists, Standard Bank’s Group economist Helena Mboti, outlined how tax incentives for venture capital unlock investment.
“We need to build a venture capital culture to support entrepreneurs, using national savings for riskier, long-term investments. Incentives like tax benefits should be measured for effectiveness, and more focus is needed on their uptake and conversion to permanent opportunities,” she stated.
Capricorn Asset Management’s chief economist Floris Bergh said public-private partnerships in Namibia are bankable and secure funding from institutional investors.
“Fund management operates based on members’ mandates, leading to a mismatch between available capital types and investment needs. Regulatory initiatives have prompted pension funds to invest in unlisted strata, providing asset managers with structures to manage such funds with defined mandates. Success has mainly come in funding smaller businesses in the unlisted space,” he elaborated.
The EAN reiterated the importance of sustained public discourse on the national budget, urging citizens and stakeholders to remain engaged as the budget process unfolds.
For the 2025/2026 financial year, the minister tabled a budget that totalled N$106.3 billion, introduced by the new administration to focus on economic growth, oil/gas exploration and infrastructure development.
It covered key priorities such as education, health and social services, with expenditures rising 4.9% despite low inflation.
The National Budget for the 2026/2027 financial year is expected to be delivered by the finance minister Ericah Shafudah before the current financial year concludes on 31 March.