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Article Excerpt
Namibia's high per capita income in relation to other African countries (see chart below) reflects the success of its extractive industries as opposed to the strength of its consumer base. In fact, Namibia has one of the biggest income gaps in the world.
For example, one authoritative source, the CIA's World Factbook, estimates that half the population is engaged in subsistence farming.
For its small consuming middle class, however, recent years have meant positive improvements. In its review of Namibia's economic prospects for 2007, released in February 2007, the Bank of Namibia (BoN) said...
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