International Trade and South African Rand

Only available on StudyMode
  • Download(s) : 271
  • Published : October 28, 2008
Open Document
Text Preview

Namibia is small flourishing country located in the south west of Africa. Its surrounding neighbors are Angola, Botswana, South Africa, and the South Atlantic Sea. The country is very young, and was recently liberated from foreign and South African rule, and was formerly known as South West Africa. Compared to all of its neighbors Namibia has an extremely low unemployment rate of 5.3%, and a GDP per capita of 7,500 USD. Even though the country appears to have a high per capita GDP compared to some of its other neighbors, the distribution of wealth in the country is one the “world’s most uneven distributions of wealth”. Namibia also has close economical ties with South Africa, because the South African rand and the Namibian dollar are both forms of legal tender in the country, due to a Common Monetary Area. Namibia is still a new economically developing country that’s starting to prosper, wit the help of its natural resources, and financial aid from countries that support democracies. They are also thinking about their future by trying to preserve, their natural resources and encouraging travel and tourism to the country.


The Republic of Namibia was granted their independence on March 21st 1990, although the path leading up to this process was long and bloody. Before Namibia was declared a republic, they were occupied by colonial rule from Britain, Germany, and South Africa, after almost a century of blood shed they were finally granted their freedom. The war was fought mainly by the SWAPO (The South West Africa Peoples Organizations), they were a Marxist guerilla group that lorded over the war of independence. During the first World War South Africa occupied Namibia and it became under South African administration. In 1988 South Africa agreed to end its administration of Namibia under a UN peace plan for the region. It was granted full independence on 21st of March 1990. After independence Namibia was governed by one man for 14 years Sam Nujama. Luckily for the people of Namibia he did succeed rule to free and faor elections 3 years ago instilling a democratic system.

Due to the fact that Namibia was under the rule of the government of South Africa they also underwent the segregation that was apartheid, this contributed to many of their workforce problems that they experienced in modern times.

The total population of Namibia is an estimated 1.8 million which consists of a diverse range of ethnic groups, the majority of them being Ovambo, and the rest consisting of Kavango, Herero, Damara, Nama, Caprivian, San, Baster, and Tswana. Their population growth rate is around 0.9% due to a high rate of HIV and AIDS. The legal system of Namibia is based on Roman-Dutch law, and their constitution which was written in 1990. The government system of similar to that of the United States, it has 3 branches of government, Executive, Legislative, and Judicial. Checks and balances are kept in place, so democracy is maintained. There are elections every 5 years to decide the new president. Sam Nujoma was the first president of Namibia he was the leader of the West Africa People's Organization, he served and 2nd term, and was also re-elected for a 3rd term due to special circumstances because he was not voted in for his first term. His predecessor Hifikepunye Pohamba is currently serving his first term as president. There are a total of 7 different parties in Namibia. The current political situation in Namibia is stable, and foreign investment is encouraged. Namibia has an independent foreign policy, and mostly trades within the southern African region although they do have diplomatic terms with the United States, the Peoples Republic of China, Libya, Cuba, and other countries that help aid the country in gaining its independence. Namibia has a total area of 823,145 sq. km. and has costal, plateaus, and desert terrain. They have a GDP of 5.5 billion, with an annual...
tracking img