Namibians take to the polls today in a bid to elect a new president who would be saddled with the task of turning the South African Nation’s economy around.
Key Candidates
The key candidates seeking to become the country’s new president include: The country’s current Vice President, 72-year-old Netumbo Nandi-Ndaitwah of SWAPO who is bidding to be the country’s first female president, 67-year-old Dr. Panduleni Itula of the IPC party, 47-year-old McHenry Venaani, 47-year-old Bernadus Swartbooi, and 37-year-old Job Amupanda.
Namibian Democracy
Since gaining independence from South Africa in 1990, Namibia has been ruled by the SWAPO party which fought against South Africa’s apartheid regime. However, with the challenges faced by the country’s economy in recent years, this election represents the party’s greatest fight yet.
Whoever becomes the country’s president will therefore be inheriting a turbulent economy riddled with numerous challenges, some of which include:
High Unemployment
Namibia is one of the world’s largest producers of diamonds, the nation is responsible for about 30% of the world’s global supply of diamonds. The country is also rich in uranium, it ranks as the third largest producer of uranium in the world.
The presence of diamonds, uranium, and other mineral resources means that the mining sector contributes 30% of the country’s GDP.
One would expect that in such a country where mining plays an integral part in the economy, there would be numerous jobs available for its citizens due to the manpower needs of the mining sector.
This has led to a high unemployment rate, especially amongst the youths with about 43% of Namibia’s youth currently unemployed, the onus would therefore lie on the new president to create enough jobs to cater for the country’s largely unemployed youths.
Widespread Poverty
According to data released by the World Bank, Namibia’s poverty rate is projected to be 17.2% in 2024, based on the international poverty line of $2.15 per day.
According to the UNDP, 40.9% of the Namibian population is also multidimensionally poor, with an additional 19.2% being vulnerable to slipping into multidimensional poverty.
This widespread poverty in Namibia has greatly challenged access to a good life for Namibian citizens despite the immense mineral deposits buried under the country’s landscape.
Housing Shortage
Namibia also faces a severe housing shortage with Close to half a million people living in shacks and informal housing units in Windhoek, the nation’s capital alone. As a result, the country urgently needs more than half a million homes to solve a severe housing shortage.
Most of the population However do not qualify for a mortgage because of poverty and the high property prices, hence the need for whoever becomes the president to come up with feasible ways to solve the country’s housing deficit.