Namibia is bracing for the possibility that it could lose 1,100 jobs over the next year, as mining companies expand their operations in the country.
The country’s president has pledged to cut unemployment from 10 percent to 5 percent in the next five years, and the economy is expected to contract by 1.3 percent this year, according to the Central Bank of Namibia.
“If we lose half of the miners, then the economy will shrink by about one-fifth,” Interior Minister David Obeke told the Central African Times newspaper.
“The mining industry is very important for our country, and it is a very important sector in terms of the future of our economy.”
Mining companies have been able to expand operations since the 1990s due to favorable government policies and the introduction of anti-corruption laws, which are enforced by a strong state apparatus.
The government has cracked down on corruption and forced mining companies to pay a high price for the products they extract.
The Namibian government is also looking to increase its export earnings, and has been trying to increase tourism and boost its local economy.
However, mining companies are also trying to find new markets in Africa, and they are likely to face the challenges of diversifying their business models.
Namibia currently has around 200 million people, and a majority of them are poor and rural, which make it difficult for the mining industry to compete with foreign competition.
Mining companies also face high inflation and low wages, and many companies are struggling to find customers for their products.
“We are a very small country, which means that we have a lot of challenges in the mining sector, and we have to make the most of our opportunities,” Obeje said in a press conference last week.
“I think it is going to be a very difficult period for us.
But we will have to fight, and our country will come back stronger.”