Windhoek Observer – Page 31 – Windhoek Observer

03 Feb

Namibia Berries plans N$1.5bn expansion over seven years

Observer Money

Staff Writer The Namibia Investment Promotion and Development Board has identified the Namibia Berries Blueberry Project as a driver of agricultural diversification, rural development, and job creation in the Kavango East Region. The project is located in Divundu and is being developed by Loxworth Capital, with facilitation by NIPDB in partnership with government ministries, including the Ministry of Urban and Rural Development. It is the largest blueberry farming investment currently underway in Namibia. About N$400 million has been invested so far. Total planned capital expenditure is estimated at N$1.5 billion over seven years. The investment is expected to support long-term…

03 Feb

Chamber sees steady future for mining industry

Observer Money

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector in 2026 remains positive and optimistic, despite ongoing global economic uncertainty. The chamber said demand fundamentals for key commodities remain supportive. Gold prices are forecast by some analysts to exceed US$5 200 per troy ounce, which could strengthen revenues and boost investment in the gold sector. Uranium demand is expected to increase further as more nuclear reactors come online worldwide. Copper and tin are also set to benefit from steady demand linked to the global energy transition, supporting exploration and development activity in Namibia. …

03 Feb

Trustco provides quarterly update on JSE suspension

Observer Money

Staff Writer Trustco Group Holdings Limited has issued a quarterly update to shareholders on matters linked to the suspension of its shares, outlining progress on its audit process and engagements with regulators. The group referred shareholders to its announcement of 15 October 2025, in which it confirmed that the Johannesburg Stock Exchange (JSE) had indicated it had no objection to Trustco appointing two separate audit firms. Under this arrangement, a South African audit firm will work alongside the already appointed associated Namibian audit firm to audit the group’s annual financial statements. Trustco said this approach will result in two separate…

03 Feb

Two rate cuts expected in 2026

Observer Money

Chamwe Kaira Simonis Storm says credit and liquidity data for December 2025 show that monetary easing is continuing to filter through to the real economy, although at a measured and uneven pace as once-off liquidity effects linked to the Eurobond redemption fade. Private sector credit growth eased slightly to 4.4% year on year in December 2025, down from 4.5% in November. This points to a gradual loss of momentum as the year came to an end. Despite the slowdown, Simonis Storm said credit growth remains well above the weak levels seen in 2023 and early 2024. This suggests an improvement…

03 Feb

Namibia stocks edge higher as JSE falls

Observer Money

Chamwe Kaira The Namibian Securities Exchange (NSX) overall index closed higher in the week ended 30 January 2026, rising 0.85% to 2 259.63 points from 2 240.49 the previous week, supported by gains across several sectors. The NSX Local Index also edged up, increasing 0.15% to 811.16 points. The index delivered an actual dividend yield of 8.54% and has shown limited movement since December 2025. In contrast, the JSE all share index declined over the same period. The index fell 1.83% week on week to 120 046 points from 122 281. Despite the weekly drop, it remained 3.64% above its…

03 Feb

Pepkor revenue rises nearly 13% in first quarter of FY26

Observer Money

Staff Writer Pepkor Holdings Limited reported a 12.9% increase in group revenue from continuing operations to N$29.9 billion for the three months ended 31 December 2025. The growth was supported by acquisitions, strong credit growth, and improved trading across several divisions. Excluding acquisitions completed during 2025, group revenue increased by 8.3%. Group sales rose by 10.6% for the quarter, or 5.2% excluding acquisitions, while like-for-like sales increased by 3.0%. In Southern Africa, excluding PEP Africa and Avenida, like-for-like sales grew by 2%. This followed a strong comparison base of 9.6% growth in the same quarter last year. Outside Southern Africa,…

03 Feb

President faces backlash over family oil question

Main, National News

Allexer Namundjembo President Netumbo Nandi-Ndaitwah is facing mounting criticism after freelance journalist and founder of The Whistle Jemima Beukes was removed from State House while attempting to ask a question related to public concerns about the oil industry during the opening of Cabinet on Monday. Beukes was removed from State House by security personnel after posing a question to Nandi-Ndaitwah. Beukes attempted to ask the question based on allegations relating to the President’s family’s involvement in the oil sector. The Namibia Media Professionals’ Union (Nampu) condemned the incident. “While attempting to fulfil her professional duty by questioning President Netumbo Nandi-Ndaitwah…

02 Feb

Seaflower told to stop fishing for files

Main, National News

Justicia Shipena The High Court has dismissed an application by Seaflower Whitefish Corporation Ltd to force further disclosure of documents in its loan dispute with Spanish company Copemar. The court ruled that the documents sought are not relevant to the case before the court. Copemar is suing Seaflower for more than N$53.9 million under a written loan agreement signed in November 2019. It claims it advanced N$51 million to Seaflower to help fund the construction of the fishing vessel MFV Olupale and that the amount, together with interest and currency compensation, became payable in July 2021. Seaflower denies liability. It…

02 Feb

Katima resident loses bid to stay on disputed land

National News

Allexer Namundjembo The High Court has ordered a Katima Mulilo resident and others to leave a disputed property after ruling that they had no legal right to occupy the land. The court found they were not entitled to compensation because they failed to prove they had made lawful improvements to the property. Balwizi Lorraine Mubonenwa, the registered owner of Erf 1049, Katima Mulilo Extension 5, brought the case. Balwizi Lorraine Mubonenwa approached the court to evict Mavis Mulite Muyakale and all other occupants. High Court judge Beatrix de Jager, in her judgement dated 16 January, explained that once ownership and…

02 Feb

Foreign visitors to pay more at national parks

National News

Renthia Kaimbi The Ministry of Environment, Forestry and Tourism has revised entrance and conservation fees for national parks. This follows a public consultation process. The new fees will start applying from 1 April 2026. The ministry's deputy executive director, Colgar Sikopo, thanked stakeholders who participated in the review and said the changes are aimed at supporting the long-term sustainability of the country’s conservation efforts. The revised fees introduce a tiered system based on nationality, age and vehicle type. The largest increases apply to visitors from outside the Southern African Development Community (SADC). The new charges will apply to major parks,…