Namibia's economy is reported to have recovered in 2023 and will see a strong rebound in mineral production.

This was revealed by the International Monetary Fund at a media briefing on its mission conclusion for Namibia.

The IMF conducted discussions for the 2023 Article IV consultation in the country, which commenced on the 18th of September and ended on the 2nd of October.

IMF Mission Chief for Namibia, Jaroslaw Wieczorek, said that Namibia is on the back of sustainable mining growth and a recovery in tourism, and its GDP grew by 4.6 percent in 2022.

Erongo Governor Neville Andre said that the current state of the economy will have a negative impact on regional electricity distributors in the region.

During his State of the Region Address, André said the global energy landscape is undergoing a significant transition, with renewable energy sources driving a plateau in energy demand by 2030.

Despite these challenges, an electricity distributor such as Erongo RED aims to electrify four rural areas in the region during the current financial year.

Organisers of the Discover Namibia Intra Africa Trade Expo and small business owners are hopeful that the upcoming event will boost the economy of Swakopmund.

Preparations for the event are in full swing at the Germina Shitaleni Multi-purpose Centre at Mondesa.

The three-day business conference and expo aims to create an opportunity for local traders to network and understand the role they play in the economy.

The fishing sector remains one of the top industries, contributing to the country's economic growth, Gross Domestic Product, and export earnings, despite hardship and a bleak financial outlook the past two years.

This was reiterated by the Minister of Fisheries and Marine Resources, Derek Klazen, during the annual address to his staff in Windhoek.

The Non-banking financial sector assets have grown by 14% despite an economic downturn, which translates to N$370 billion as of December 2021.

The Chief Executive Officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, revealed this during the launch of its 2022 annual report.

Matomola says the increase in the total of the sector's assets was due to improved performance in the equity markets and does not pose risk to the financial system.

The local economy remains under immense pressure to set itself on a path of recovery. This is coupled with challenges beyond the country's reach and self-inflicted drawbacks such as the lack of policy implementation.

The Institute of Public Policy Research held a presentation on the state of the economy.

Robin Sherbourne, IPPR Research Associate, gave a presentation on the reasons for the ailing Namibian economy and what needs to be done to fix it.

Namibia needs more people who are fearless and smart thinkers who can inspire and advise the government where it is failing the nation.

These are the words of Rand Merchant Bank Namibia's Managing Director, Steve Galloway, referring to author Robin Sherbourne at the launch of the book "Guide to the Namibian Economy".

Galloway defines the book as one of the contributors to the country's upliftment.