Windhoek Observer

Chamwe Kaira  Old Mutual Limited said the reduction in corporate tax in Namibia from 31% to 30%, effective January 2025, is expected to affect the operating environment for financial institutions. The change follows the Income Tax Amendment Bill 2024. The company also pointed to ongoing regulatory and compliance pressures, noting that Namibia remains on the Financial Action Task Force (FAFT) greylist alongside Kenya and South Sudan.  This requires stronger anti-money laundering controls and compliance measures. Old Mutual said Namibia remains an important part of its Southern Africa operations, supported by its position in asset management and its distribution network. Namibia…

Chamwe Kaira  Simonis Storm Securities said higher energy import costs could place pressure on Namibia’s reserves despite current buffers. The firm said banking-sector cash balances of N$6.3 billion and international reserves of N$51.7 billion recorded in February provide support. “However, higher energy import costs will draw on reserves more rapidly and the Bank of Namibia (BoN) will need to monitor the adequacy of import cover closely, particularly as the Strait of Hormuz disruption has already stranded vessels and pushed insurance and freight costs sharply higher,” the firm said. Data from BoN shows that credit growth has improved. Private sector credit…

Chamwe Kaira  Namibia’s merchandise trade balance improved in 2025, narrowing to N$25 billion from N$38.6 billion in 2024, the Bank of Namibia said. The improvement was driven by higher exports and slower growth in imports. Export earnings rose by 18.7% to N$101.3 billion from N$85.3 billion in 2024.  Imports increased slightly by 1.9% to N$126.2 billion from N$123.9 billion. Exports were supported by higher gold and uranium shipments, driven by both volumes and prices. Imports increased due to higher demand for vehicles, machinery and chemical products. Vehicle imports were linked to mining activity, public sector fleet replacement and household demand. …

Staff Writer The Namibian Competition Commission (NaCC) has approved the acquisition of Grove Mall of Namibia Proprietary Limited by Gold View Investments Proprietary Limited without conditions. The transaction involves the transfer of all shares in Grove Mall of Namibia to Gold View Investments. Gold View Investments is owned by Namstead Limited, which is jointly controlled by Homestead Group Holdings Ltd and Rockrunner Real Estate Limited. T The group invests in property, shares and securities outside Namibia, with operations in Switzerland, Mauritius, the British Virgin Islands and South Africa. Grove Mall of Namibia is a local company that invests in property…

Staff Writer The Namibian Competition Commission (NaCC) has approved, with conditions, the acquisition of a fuel retail business by Nasan Energies (Pty) Ltd. The deal involves Nasan Energies acquiring assets operated by Vivo Energy Namibia Ltd and Engen Namibia (Pty) Ltd under a sale of assets agreement. The transaction follows a condition set by the commission during its review of the merger between Vitol Emerald Bidco (Pty) Ltd and Engen Ltd in December 2023. Nasan Energies was created to acquire and operate the assets and has not yet started operations. The assets include 52 fuel service stations previously run under…

Staff Writer TransUnion Africa has announced the appointment of Annemie Botha as general counsel, effective 1 February.  In her role, Botha will lead TransUnion Africa’s legal, risk and compliance function across South Africa, Botswana, eSwatini, Namibia, Kenya, Rwanda, Zambia and Malawi.  Her responsibilities include aligning legal and regulatory strategies with business objectives, strengthening governance frameworks, and supporting sustainable growth across these markets, with a strong focus on advancing transparency, fairness, and consumer protection across the financial ecosystem. Botha brings over 17 years of experience in legal advisory, compliance, privacy and corporate governance, with deep expertise across credit bureau regulation and…