Higher Education, Training, and Innovation Minister Itah Kandjii-Murangi has said the development of professional and technical human resources, research, science, technology, and innovation infrastructure is the cornerstone of the transformation of the Namibian economy.

Kandjii-Murangi made the remarks during a high-level tertiary education funding budget review dinner held in the capital on Thursday.

Namibia has recorded an increase in inflation during 2022 compared to 2021, posing great pressure on the cost of living. 

This was revealed in the Bank of Namibia 2022 Annual Report, launched in the capital on Wednesday. 

Overall inflation rose significantly from 3,6% in 2021, to 6,1% in 2022.

The high inflation was mainly driven by transport inflation due to high international oil prices, aggravated by exchange rate depreciation.