Mozambique Banking & Financial Services Q4 2019
We are of the view that the Namibian insurance industry contains a degree of untapped growth potential that will beunlocked over the coming years. Greater levels of investor confidence, rising middle-class spending powers and improvingeconomic performance will support premium expansion. We are also hopeful that the expanding extractive sector coupled witheconomic modernisation efforts including infrastructure and construction will elevate demand for commercial lines. That said, ouroutlook is predicated upon real GDP growth returning to positive territory from 2020 onwards. Negative risks stem from a prolongedrecessionary environment that may derail headline economic recovery.
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