Namibia's economic freedom in the spotlight
According to the latest index compiled by a US foundation, Namibia ranks seventh out of 47 countries in sub-Saharan Africa in terms of "economic freedom".According to the Heritage Foundation, Namibia's economic freedom score is 58.7 points, ranking it 94th worldwide.
"The score improved by 1.2 points compared to the previous year, but is still below the world average and above the regional average," according to the foundation. However, according to the 2025 index, Namibia's economy is classified as "largely unfree".
Since 1995, the conservative foundation has published the "Index of Economic Freedom" which measures the level of economic freedom in countries. Key indicators include property rights, freedom from government regulation, government corruption, barriers to international trade, income and corporate tax rates, government spending, the rule of law and the ability to enforce contracts, regulatory burdens, banking restrictions, and labour regulations.
"Economic growth in Namibia is not strongly supported by government policies or institutions. Deficiencies in the legal framework restrict overall economic freedom. Property rights protection is weak, and the government does not effectively combat corruption. Business regulation is enacted by the government without the involvement of private actors," the foundation said.
Further points cited include, "Labour regulations are not rigid, but the labour market lacks dynamism. The rule of law is generally relatively well respected in Namibia. Namibia's property rights score is above the world average, as are its scores for judicial effectiveness and government integrity."
Namibia's overall regulatory environment is "relatively well institutionalized" but lacks efficiency. Business freedom is below the world average; labour freedom is above the international average, and monetary freedom is "significantly above the world average."