Alweendo Urges Namibia to Turn Mining Wealth into Jobs and Economic Growth

Former Minister of Mines and Energy, Tom Alweendo is calling on Namibia to translate growing interest in its mineral resources into jobs, viable businesses and broader economic growth, warning that resource discoveries alone will not deliver tangible benefits to citizens.

Speaking at the official opening of the Institute of Chartered Accountants of Namibia (ICAN) National Accounting Summit in Windhoek on Thursday, Alweendo identified mining and energy as key sectors that could expand the country’s productive economic base.

However, he cautioned that Namibia had limited time to turn these opportunities into meaningful economic progress, particularly amid sluggish economic growth and high unemployment.

“Namibia has opportunities but also, we do not have much time to waste,” he said.

Citing figures from the Namibia Statistics Agency (NSA), Alweendo said the economy grew by 1.7% in 2025, with growth projected at 2.1% in 2026 and 2.8% in 2027.

He also highlighted the country’s unemployment challenges, citing an overall unemployment rate of 36.9% and youth unemployment of 44.1%.

Alweendo warned against equating mineral discoveries with job creation, particularly for young people seeking employment.

“A mineral discovery does not sign an employment contract for an unemployed youth,” he said.

He added that investment conferences could generate interest and attract investors, but would not automatically translate into productive economic activity.

“An investment conference or any other conference like this one we are having does not build a factory,” he said.

Alweendo stressed that converting investment opportunities into tangible economic outcomes required collective responsibility from individuals, businesses and institutions.

He identified a “we can do it” attitude, credible leadership and capable institutions as three essential requirements for achieving lasting results.

He also urged businesses to continue investing despite difficult economic conditions, build credible local capacity and focus on meeting customer needs rather than concentrating solely on the challenges of operating in Namibia.

Turning to leadership and accountability, Alweendo challenged leaders to measure their performance by what they deliver rather than what they announce. He argued that launching a project should not be confused with completing it or achieving its intended benefits.

“A project that is launched today, it’s not the same as the project completed,” he said.

He further cautioned that Namibia’s natural resources could generate revenue without building broad-based economic capacity, while capital could flow into and out of the country without creating sustainable local enterprises.

Alweendo said the country’s economic progress would ultimately depend on the decisions it makes, the quality of its leadership and the ability of its institutions to translate opportunities into tangible outcomes.

“Our future will not be delivered by someone. It can only be built by all of us,” he said.