President Netumbo Nandi-Ndaitwah argues that developing countries need fair access to capital, not concessions, to drive sustainable development.

World leaders gathered today at the Nasrec Expo Centre for a key session of the G20 Summit, where discussions focused on global economic stability, sustainability and the reforms needed to strengthen the international financial system. Among the speakers was Namibia’s President, Netumbo Nandi-Ndaitwah, who delivered a firm and direct appeal for equal financing terms for developing nations.

President Nandi-Ndaitwah opened with a critique of the persistent financial penalties faced by developing economies. She stated that “developing countries find themselves on the debt track as a result of capital at high cost based on perceived risk that does not reflect the reality on the ground.” She stressed that these perceptions undermine growth even in countries that demonstrate discipline and responsibility.

She cited Namibia’s recent repayment of its seven hundred and fifty million US-dollar Eurobond as an example. “Namibia honoured its international obligation by redeeming its seven hundred and fifty million US-dollar Eurobond on time, showing strong fiscal responsibility,” she said. “However, we are considered by decision makers as a risk country.”

President Nandi-Ndaitwah argued that this disconnect between performance and perception reflects deeper structural inequalities. “We need a fair international financial institution architecture,” she said. “The most meaningful way to place people at the heart of sustainable development is through financing that is fair, accessible and reflective of reality.”

She warned that without reform, the “looming global debt crisis” will widen divisions between developed and developing countries. She emphasised that Africa is not requesting sympathy. “We are not seeking free money. We want fair and equal financing opportunities.”

Setting out Namibia’s own development priorities, President Nandi-Ndaitwah highlighted the country’s commitment to industrialisation and value addition, especially in sectors linked to natural and critical mineral resources. She said such investments must “yield broad-based benefits for all our people and leave no one behind.”

She also underscored Namibia’s progress in strengthening social protection systems. “Old age grants reach ninety-eight percent of eligible citizens and child grants stand at sixty-six percent of vulnerable children,” she noted. These measures, she explained, ensure support for vulnerable groups and enable youth and women to participate meaningfully in development.

President Nandi-Ndaitwah called on G20 leaders to reinforce global debt treatment frameworks and provide concessional financing to countries demonstrating responsible fiscal management. She stressed that countries must protect resources allocated to key social and economic programmes such as education, health and infrastructure.

In closing, she urged the global community to reaffirm its commitment to inclusive and sustainable growth guided by the Sustainable Development Goals. She outlined three principles for global cooperation: strengthening trade and real economies, securing financing for development while managing debt responsibly, and reducing inequality through inclusive policies. These principles, she said, align with this year’s G20 theme of solidarity, equality and sustainability. | Report by NNA TV+