Key View: We forecast Namibia's insurance market to continue its recovery through 2022, as the economy as a whole begins to grow following a multi-year recession and the disruption caused by the Covid-19 pandemic. Opportunities within this small, low income market will remain small, but a number of well-capitalised South African majors are active

Key View

• At Fitch Solutions, we forecast that Namibia’s real GDP growth will accelerate from an estimate of 0.2% in 2021 to 4.0% in 2022. This is a downward revision from our previous estimates and forecasts of 2.5% and 4.5%, respectively.
• The stronger performance in 2022 will be driven by private consumption and fixed investment, while

Key View

• At Fitch Solutions, we expect that the Bank of Namibia (BoN) will hike its repo rate by 100 basis points (bps) to 4.75% in 2022.
• We expect Namibian policymakers to follow the monetary policy trajectory of the South African Reserve Bank, which we also expect to implement a 100bps hike. Meanwhile, inflationary pressures and stronger

Key View:

• With record high copper prices there is growing incentive for the commencement of new copper projects in emerging markets such as Namibia.
• Namibia has a number of new copper mines under development stage and idled mines. However, out of nine new projects in our Global Mines Database, only two appear to be making some progress. One

Key view

• We forecast real household spending to grow by 3.9% in 2022. However this is a deceleration when compared to the estimated growth of 7.4% in 2021 due to high base effects. 
• We forecast total household spending (in real terms) to rise above pre-Covid (2019) levels in 2022, indicating that consumer spending will recover in 2022. 
• As

Key view

• We forecast real household spending in Namibia to begin to recover in 2021, growing by 3.9% y-o-y, after the Covid-19 pandemic led to an estimated contraction of -3.6% y-o-y in 2020. However, most of this growth will be driven by low base effects, following the sharp fall in spending seen over 2020.
• As of June and July 2021, Namibia

Key View

• At Fitch Solutions, we continue to expect that the Bank of Namibia (BoN) will raise its key repo rate from 3.75% to 4.00% in H221, following a fourth consecutive hold at its June meeting.
• We expect that Namibian policymakers will follow their South African peers by hiking by 25bps later this year. Domestic factors including higher

Key View

• We forecast total new vehicle sales in Namibia will post mild growth in 2021 as consumers and businesses recover from weak Covid-19 driven economic growth levels in 2020.
• Namibia's economic output is set to improve in 2021 which will be supportive of improving business sentiment levels and thus drive demand for new vehicles higher.