Namibia

Namibia faces high energy insecurity with 100% oil import dependency and gasoline at $1.32/L, exacerbated by global supply disruptions and high Brent crude prices. While its Hormuz exposure is low, the nation's 22 days of gasoline reserves are a concern, and fertilizer costs have risen 50%, contributing to moderate food risk. The country currently lacks significant mitigating factors from domestic production, as new offshore discoveries are not yet operational. The outlook suggests continued economic pressure and the need for careful resource management as global energy markets remain volatile.