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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Business / Economics

Mining Industry Boosts GDP and Local Economy in 2023

todayJune 20, 2024 39

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Mines and Energy minister, Tom Alweendo, announced that Namibia’s mining sector significantly increased its contribution to the GDP to 14.4% in 2023, up from 11.9% in 2022. The industry spent over N$21 billion on local procurement and contributed N$6.4 billion in royalties and taxes, compared to N$4.2 billion the previous year. Employment in the sector reached 18,189, with N$211 million spent on corporate social responsibility. Alweendo emphasized the mining industry’s critical role in Namibia’s economy during the launch of the Rössing Uranium Sustainability and Performance Report 2023.

Written by: Leonard Witbeen

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