The Minister of Industrialization and Trade, Lucia Iipumbu, says that the government recognises the invaluable role that the informal economy plays in the nation's economic landscape. 

Iipumbu says that the men and women who form the backbone of this sector contribute significantly to the GDP and create much-needed employment opportunities. 

She said this during a consultation meeting aimed at drafting a Special Economic Zone Bill (SEZ).

President Hage Geingob is pleased by how the country's gross domestic product has recovered following periods of economic difficulties.

Dr. Geingob, who was speaking at the year-end function of the Office of the President yesterday, which was among others also attended by the Speaker of the National Assembly Professor Peter Katjavivi, commended staff members for their support throughout the year.

It was a joyous occasion characterised by the expression of gratit

There is a revival in the agriculture sector, and its contribution to the gross domestic product (GDP) has picked up and is showing consistent growth.

There are, however, some challenges remaining in the agricultural sector, namely the pricing of food owing to geopolitics.

The consumer price had increased sharply, but on the other hand, there was also a reduction in prices for producers.

President Hage Geingob has appealed to Namibians to be cognisant of the economic cost of road accidents, saying they reach about 2 percent of gross domestic product and rob the country of a productive workforce.

Alcohol abuse is another thing that worries the president, especially now that the holiday season is approaching.

Maritime transport constitutes approximately 85 percent of Namibia's domestic trade, with marine diamonds being the leading commodity and the largest contributor to the country's GDP. 

President Hage Geingob highlighted in a statement, commemorating World Oceans Day, an officially recognized day by the United Nations.

President Geingob highlighted the significance of oceans for human life on Earth and specifically for Namibia, as they serve as a remarkable tourism gateway to the country's stunning coastline where the desert uniquely meets the ocean.

The Chairperson of the Namibia Travel and Tourism Forum, Nrupesh Soni, has advised the government to increase its budget allocation to the tourism sector this year for the industry's speedy recovery.

According to the World Travel and Tourism Council report of 2022, the travel and tourism industry contributed more than N$19.4 million to Namibia's GDP in 2021.

According to the report, the travel and tourism industry contributed more than N$29 million in 2019, before the outbreak of COVID-19.

Namibia is making progress toward the African Union target of investing 1% of its gross domestic product (GDP) in research and experimental development.

Preliminary findings contained in the 2022 National Research and Experimental Development Survey indicate that 0.6% of the country's GDP is invested in research.

Stakeholders in science, technology, and innovation have gathered at Swakopmund to validate various reports.

Among those reports is the 2022 National Research and Experimental Development Survey, which provides indicators of technological change.

There has been a significant contribution from the agriculture sector to Gross Domestic Product over the past years.

This was said by the Minister of Agriculture, Water and Land Reform, Carl Schlettwein when he addressed his staff and stakeholders.

"The current developments show moderate growth in the agriculture sector. Our GDP contribution is now estimated to be 3.6%. Two years back it was dropping."

The Insitute for Public Policy Research has expressed concern over the country's high level of public debts and called for cautious borrowing.

In its economic review for the last quarter of last year, the IPPR says the high level of borrowing has put the government in a foreseen situation leading such as rising interest rates and slow economic growth.

Quoting statistics from the Bank of Namibia and other sources, the IPPR says Namibia's total public debts outstanding value stands at 135-comma-five billion dollars.

Africa could lose up to US$50 billion of its Gross Domestic Product per capita every year from the effects of climate change by 2030. 

Against this background, African countries are urged to put climate change dialogues into action as they prepare for the UN Climate Change Conference, to be held next month in Egypt.

These were remarks at the 10th Conference on Climate Change and Development in Africa, held in Windhoek.