Namibia's new president vows to diversify economy, tackle joblessness

By Nyasha Nyaungwa

WINDHOEK (Reuters) - Namibia's newly elected President Netumbo Nandi-Ndaitwah pledged on Friday to boost investments in the agricultural sector and diversify the resource-focused economy in an attempt to address high unemployment rates.

Nandi-Ndaitwah, 72, became Namibia's first female president after her SWAPO party, which has governed the nation of around 3 million people for more than three decades, secured victory in both the presidential and parliamentary elections in November.

Namibia has seen relatively strong economic growth in recent years, primarily due to investments in oil, gas and green hydrogen. But World Bank data indicate the southern African nation ranks second highest globally for income inequality.

"We are going to increase investments in the agriculture sector to increase output and meet domestic food requirements," Nandi-Ndaitwah said in her inaugural speech after being sworn in as president.

She also committed to diversifying the economy, enabling citizens to "derive maximum benefits from our country's natural resources, through value addition".

Diversification, she added, would "create jobs to take care of the unemployed, of which the majority are the youth."

She also stressed the need for maintaining high ethical standards among public servants and combating corruption.

SWAPO's public support has fallen in the last decade due to dissatisfaction with high unemployment, inequality and graft allegations. The party secured 57% of the votes in November's presidential race, compared to 87% in the 2014 election.

Nandi-Ndaitwah's inauguration was attended by dignitaries including seven incumbent and nine former African presidents.

Last month, Namibia's Supreme Court dismissed a challenge against the presidential election brought by opposition parties, which said the vote was flawed and potentially invalid due to an extension of voting for several days, among other issues.