Surrounded by South Africa, Botswana, Zambia, and Angola, Namibia is considered to be an upper-middle-income economy with an abundance of mineral resources. The mining industry is expected to boost the growth of its key sectors.
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Population: 2.4 mn
Gross Domestic Product (GDP): $10.56 bn
GDP Growth: -0.1%
Foreign Direct Investment (% of GDP): 1.2%
Unemployment Rate: 23.1 %
Currency: Namibian dollar, South African rand
Namibia is bordered by South Africa, Botswana, Zambia, and Angola. Considered as the driest country in sub-Sahara Africa, Namibia is abundant in mineral resources, that includes diamonds, copper and uranium. The country is known to have good transport infrastructure, boasts good governance and has huge tourism potential. The country’s agricultural sector is unfortunately affected by climatic conditions. Namibia is known to be an upper-middle-income nation, and growth is forecast to rebound this year by an increase in mineral exports such as diamonds, uranium, and zinc.
The country is home to the oldest deserts
People speak more than 60 languages in Namib
The country is home to Fish River Canyon, the second-largest canyon in the world
Namibia was the first country in Africa to establish environmental protection into its constitution
Namibia has many conservation areas that are aimed at protecting the country’s natural habitat. Namib-Naukluft Park is one such conservation area and its most beautiful park is Etosha National Park which is an 8,600 square mile park.
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Fixed-term agreements are allowed in Namibia. A written employment contract is recommended with all the details pertaining to the employee, such as the wage, compensation, and termination requirements. It is better that employment contracts outline the wage in terms of Namibian dollars instead of a foreign currency. Employees are entitled to sick, parental, and vacation leaves. The length of service will determine the termination and/or severance pay. Both employers and employees contribute to social security.
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