Namibia is hosting the Commonwealth Business Summit, marking the first time in its history that the all-important summit is being held outside London in the United Kingdom.
This year’s summit, which opened yesterday at the Mercure Hotel in Windhoek, focuses on harnessing digital transformation, sustainability, and youth entrepreneurship as drivers of economic growth within the Commonwealth, whose combined GDP is projected to reach US$19.5 trillion by 2027.
The inaugural event in Namibia attracted dignitaries, business leaders, and policymakers from across the 56-member Commonwealth.
Welcoming the gathering, Namibia’s Minister of International Relations and Trade, Selma Ashipala-Musavyi, called for unity and purpose, urging member nations to work collectively towards achieving a US$2 trillion trade goal by 2030.
“We must unlock investment, strengthen strategic partnerships, and embrace the spirit of Ubuntu, our shared humanity to build a more inclusive and resilient economic future,” said Ashipala-Musavyi.
The trade minister added that Namibia, like the rest of the Commonwealth, is blessed with ample opportunities. Member countries in the Commonwealth family are richly endowed with natural resources and a wealth of young people with skills and knowledge, ready to contribute to the global economy. Her ministry’s task is to facilitate the unlocking of this potential through collaboration and partnerships across borders.
“I am delighted that this Business Summit places SMEs, women entrepreneurs, digital trade, and climate-conscious supply chains at the centre of our dialogue, themes that resonate with Namibia’s own national priorities and reflect the kind of leadership that will define the next chapter of global inclusive and digitally integrated trade,” said Ashipala-Musavyi.
The Commonwealth Business Summit, established in 1997, is a high-level forum that brings together leaders from government and business to explore trade, investment, and innovation opportunities across the Commonwealth. Traditionally held in London, the decision to host the event in Namibia reflects the growing importance of emerging markets in shaping the global economic agenda.
Commonwealth secretary general Shirley Botchwey launched a strategic vision at the Commonwealth Business Summit, unveiling a new platform aimed at transforming the Commonwealth’s trade advantage into tangible opportunities. With a unified market of 2.7 billion people and a focus on inclusion, resilience, and shared growth.
Botchwey called for empowering small businesses, women, youth and vulnerable states to ensure prosperity reaches every corner of the 56-member organisation.
“If we want to harness Commonwealth trade for shared prosperity, we need to focus on inclusion. Trade must work for all, not just somewhat for big companies in major markets and not just for a small segment of the potential Commonwealth market of 2.7 billion. That means MSMEs, which make up over 80% of businesses across the Commonwealth, must have access to finance, regulatory support, and market intelligence. This means putting women entrepreneurs and young people at the centre of our trade strategy,” Botchwey said.
She added that the Commonwealth is a living system and must be the network of trust, the driver of opportunity, and the home for ambition.
Botchwey further said, trade cannot thrive without capital and infrastructure. Therefore, stronger pipelines are needed to blended finance and greater support from development banks.
“Where others close doors, we must open them. When others speak of risk, we must speak of possibility. Our goal of US$2 trillion in intra-Commonwealth trade by 2030 is ambitious but achievable. To reach it, we need to build confidence, break down barriers, and bring new actors into the conversation. At the Trade Ministers Meeting, we will challenge our leaders to expedite their ambitious industrialisation agendas in order to expand consumer markets across the Commonwealth. That is the pathway to our shared prosperity,” said Botchwey.