Windhoek Observer

Chamwe Kaira  The Bank of Namibia (BoN) has signed a gold purchase agreement with QKR Namibia Navachab as part of efforts to strengthen its reserves. The agreement allows the central bank to buy gold produced in Namibia under a structured arrangement aligned with international reserve management standards. The move forms part of the bank’s gold acquisition programme aimed at improving the composition of reserve assets, strengthening financial resilience and supporting the country’s ability to respond to external shocks. “As a gold-producing nation, this approach also supports the retention of national resources and aligns with the bank’s mandate to safeguard macroeconomic…

Chamwe Kaira  Namibia’s stable political and legal environment offers a strong base for investment, but operational inefficiencies continue to limit business growth and job creation, according to Simonis Storm Securities. The firm said predictable policies and rules-based governance help reduce risk for investors.  However, businesses still face high costs, slow administrative processes and weak support systems that limit expansion. Drawing on the 2024 World Bank Enterprise Survey, Simonis Storm said companies face challenges such as limited access to finance and land, crime, high taxes, corruption, informality, skills shortages, unreliable electricity, transport issues and complex licensing procedures.  It said administrative delays…

Chamwe Kaira Santam Namibia chief executive officer Franco Feris has urged Namibians to review their insurance cover and secure their homes as the Easter long weekend approaches. He said policyholders should reassess the value of their household contents and take steps to protect their property.  “Insurance is there to protect you when the unexpected happens, but policyholders also have a responsibility to take reasonable precautions to safeguard their property,” he said.  “Taking these simple steps not only reduces the likelihood of loss but can also make the claims process far smoother should you need to claim. Solid preparation gives you…

Staff Writer  Rovos Rail says its tours to Namibia will continue despite a recent accident that claimed the lives of two crew members. The company said all services to Namibia remain operational and safety protocols remain in place. It operates about 10 train journeys from Namibia each year. The accident occurred on Sunday when a Rovos Rail train travelling southbound from Windhoek derailed at Naute, about 285km from Ariamsvlei near the South African border. The company said the incident was caused by a washaway of the last span of a bridge, which led to the loss of two locomotives and…

Staff Writer The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have signed an updated memorandum of agreement to strengthen cooperation in regulating and supervising the financial sector. The agreement sets out how the two regulators will share information, conduct joint supervision and coordinate oversight of banking institutions, financial institutions and intermediaries. At the same event, the institutions also formalised the terms of reference for a joint technical working group to support the development of financial technology in Namibia. The agreement provides for the exchange of information on key regulatory issues affecting institutions and groups. It…