Namibia at 30: Is Swapo running out of road?
On March 21, Namibia marks 30 years of independence. But ruling party Swapo’s stewardship of the economy is less cause for celebration
After 30 years of spending public money as if there was no tomorrow, it would seem tomorrow has finally come for Namibia’s ruling party, Swapo. What was already shaping up to be a perfect financial storm has been made much worse by the forced shutdown of the country’s tourism industry due to the Covid-19 pandemic.
"Namibia now has virtually no buffers to manage the external shock" caused by the shutting down of all international flights from the country’s biggest tourism markets — Germany, Qatar and Ethiopia — Namibian brokerage firm Cirrus Securities warns in an update to its annual economic outlook for the country.