As a result of the rise of the global knowledge society, increasing demands of labor markets, and the recognition that technology and innovation policies play significant roles in the competitiveness of a country, in 1999 the Government of Namibia developed and released a National Research, Science and Technology Policy. The policy was seen as a key instrument that would help drive the transformation of Namibia towards a knowledge-based economy, where the production and usage of technology and innovation would lead to economic benefits. Further policies and strategies were developed with emphasis on the necessity of shifting the proportion of national income derived from natural resources to innovative activities, increasing the percentage of workforce employed in the knowledge-based jobs and the ratio of firms applying technology and innovation. Over a decade now, these policies have not been implemented. This article reviews evidence from official publications, fieldwork interviews conducted between 2008 and 2010, relating to the quest for economic transformation and the promotion of innovation and technology in Namibia. The article analyzes factors that have hindered the implementation of the said policies and presents lessons for other developing countries.