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Namibia has reported incredibly strong growth the last two years, at 6.4% in ’22 and 5.6% in ’23 (our conservative estimate). Growth has primarily been driven by the mining sector. This is owing to favourable commodity prices and thus output (diamonds in ’22, gold and uranium in ’23). However, the ongoing oil and gas exploration activity has also contributed, seeing the ‘mineral exploration’ sector now contribute more to GDP than diamonds (in real terms).