Namibia must choose to compete

Namibia’s ranking of 69th out of 70 economies in the 2026 IMD World Competitiveness Ranking has understandably attracted attention. No country welcomes a low ranking, and no ranking should be ignored.

However, the true value of such assessments lies not in the headline, but in the opportunity they provide to reflect, prioritise and act.

Competitiveness is not inherited. It is built. Countries become more competitive through stronger institutions, productive businesses, skilled people, efficient government and an environment that rewards innovation, investment and entrepreneurship. Every successful economy has had to travel that journey.

Fundamentals in place

Namibia has already laid important foundations. Political stability, the rule of law, sound financial institutions and an abundance of natural resources provide a platform that many countries would value highly. The challenge now is to convert these strengths into higher productivity, faster business growth, more jobs and greater international competitiveness.

The IMD ranking reminds us that this work is far from complete. Access to finance remains difficult for many businesses, especially small and medium-sized enterprises. Skills shortages continue to limit productivity. Infrastructure requires continued investment. Regulatory processes can become faster, clearer and more predictable. These are structural issues that deserve sustained attention from both the public and private sectors.

Yet every one of these challenges also represents an opportunity.

One observation stands out from our work with international businesses and investors. Most investors have become highly sophisticated at assessing the risks of investing in Africa. Political uncertainty, regulatory complexity, exchange rate movements and execution risk are carefully analysed before capital is committed.

Africa should not be ignored

Far less attention is often given to the other side of the equation: Africa’s opportunity premium.

By opportunity premium, we mean the long-term value that comes from entering high-potential markets early, building trusted partnerships and positioning ahead of future growth. Investors often underestimate this value. They discount the long-term importance of critical minerals, renewable energy, food security, regional trade and Africa’s young population. They calculate the cost of risk with precision, while giving far less weight to the potential rewards.

Successful investment has never been about avoiding risk altogether. It has always been about understanding risk, managing it carefully and recognising opportunities that others fail to see.

Namibia is well positioned to benefit from the changing global landscape. Demand for critical minerals continues to grow. The energy transition is creating new industries. Supply chains are being reshaped. Investors are increasingly looking for stable, reliable and credible partners with long-term potential.

These trends create an opportunity for Namibia that extends far beyond natural resources.

Capturing that opportunity requires a renewed national focus on competitiveness.

Creating an enabling environment

Government has an essential role to play in creating an enabling environment through efficient regulation, infrastructure investment, education, policy certainty and disciplined implementation. Business leaders have an equally important responsibility to invest, innovate, improve productivity, develop skills and build companies capable of competing internationally. Financial institutions, universities and development partners all have a role in strengthening the ecosystem that allows businesses to grow and thrive.

Competitiveness is not created by government alone. Nor is it created by the private sector acting in isolation. It is built through partnership, trust and a shared commitment to national progress.

This moment should therefore serve as a catalyst rather than a disappointment.

Instead of asking only why Namibia ranks where it does today, we should ask where Namibia wants to rank in five or ten years’ time, and what decisions are required to get there.

Quality of institutions

The country’s greatest advantage has never been its mineral wealth alone. It is also the quality of its institutions, the resilience of its people and its ability to adapt to changing global conditions. Building on those strengths will determine whether Namibia becomes one of Africa’s most competitive economies over the coming decade.

The conversation should now move beyond rankings and towards action.

Every reform that reduces the cost of doing business, every investment that improves productivity, every entrepreneur who creates jobs, every public institution that becomes more efficient and every partnership that brings new knowledge into the country strengthens Namibia’s competitiveness.

The opportunity is real. The foundations are in place. The responsibility now rests with all of us to build an economy that competes not only within Africa, but with the best in the world.

Competitiveness is a choice. Namibia must now choose to build.

A joint opinion by Dr John Steytler, R&J Steytler Consultants, and Oliver Scheidt, The Strategic Economy.