The United Nations Conference on Trade and Development (UNCTAD) recently released a report outlining strategies for Namibia to enhance its economic growth by adding value to its mineral resources and diversifying into new industrial sectors. The report, titled 'Rapid Assessment of the Value Addition and Diversification Within and Beyond the Critical Energy Transition Minerals Value Chain: Namibia', highlights 353 potential products across 23 sectors that Namibia has the capability to produce, emphasizing the opportunities presented by the global market.

The study identifies 200 products with significant potential for growth, which collectively represent a global market that has expanded by an average of US$811 million since 2018. Furthermore, the report indicates that 165 of these proposed products have received validation from Namibia’s private sector stakeholders, suggesting a strong foundation for implementation. One of the most promising outcomes is the potential creation of over 26,400 jobs, which accounts for approximately 3% of the country's labor force this year, indicating a substantial impact on employment and economic stability.

Notably, the iron and steel sector is poised to generate the most employment, with projections indicating over 15,000 new positions. This diversification could help Namibia not only enhance its economic resilience but also contribute to a more sustainable industrial future, positioning the country competitively within the regional and global markets. The emphasis on a transition to value-added production aligns closely with global trends toward sustainable development and industrial efficiency, showcasing Namibia's commitment to leveraging its mineral wealth for broader economic benefits.