Windhoek Observer – Page 7 – Windhoek Observer

27 Feb

Shafudah’s N$87.9bn rainy day budget

Main, National News

Chamwe Kaira Minister of Finance Ericah Shafudah tabled Namibia’s N$87.9 billion national budget for the 2026/27 financial year in Parliament on Thursday under the theme “People, Productivity and Prudence”. The total budget, excluding statutory payments, amounts to N$87.9 billion under the Medium-Term Expenditure Framework. Shafudah said the budget focuses on macroeconomic stability, debt sustainability and value for money while protecting key social and economic investments. She said the plan seeks to restore balance in public finances. “The choices before us are difficult, but they are necessary,” she said. The overall budget deficit is projected to decline to 5.5% of GDP…

27 Feb

Rundu residents raise alarm over new municipal fees

National News

Allexer Namundjembo New tariffs and fines by the Kavango East Regional Council have drawn criticism from a Rundu community activist, who says the charges will add pressure on low-income households and informal traders. Community activist Ndemba Kayone told the Windhoek Observer that the new fee structure does not reflect the realities faced by many residents. “We understand that the council must recover costs and maintain services, but these new tariffs place a heavier burden on people who are already struggling to survive,” Kayone said. The new charges were published in the government gazette No. 123 of 2026 and apply to…

27 Feb

Pensioners to receive N$100 increase

National News

Renthia Kaimbi Pensioners will receive a N$100 increase in their monthly state pension from 1 April. This would raise the grant from N$1 600 to N$1 700. Finance minister Ericah Shafudah announced the increase while delivering the 2026/27 national budget in the National Assembly on Thursday. She said N$447 million has been set aside to fund the adjustment. “The Ministry of Finance received a N$12.9 billion allocation for the 2026/2027 financial year, of which N$447 million is to cater for a N$100 increase in pension (funding) for the elderly,” said Shafudah. The increase falls short of President Netumbo Nandi-Ndaitwah’s election…

27 Feb

Namport rejects allegations on cancelled oil tender

National News

Renthia Kaimbi The Namibian Ports Authority (Namport) has rejected allegations by the Independent Patriots for Change (IPC) over the Lüderitz Oil Supply Base tender and its business associations, describing the claims as inaccurate. In a media statement issued on Wednesday, Namport chief executive officer Andrew Kanime responded to three claims made by the opposition party. He addressed the cancellation of the design, build, own, operate and transfer tender; the involvement of the Namibia Industrial Development Agency; and the role of Tradeport Namibia at the Port of Lüderitz. Kanime first dealt with the cancelled DBOOT tender. He dismissed suggestions that Namport…

27 Feb

Windhoek Council urged to set aside land for youth facilities

National News

Allexer Namundjembo Windhoek municipal councillor Austin Kwenani has submitted a motion asking the City of Windhoek to identify land in all constituencies and set it aside for the Ministry of Education, Innovation, Youth, Sport, Arts and Culture. He wants the land to be used to speed up the development of sports facilities and youth infrastructure across the city. Kwenani, who chairs the Management Committee, introduced the motion in terms of the Standing Rules and Orders of the Municipal Council. He said the proposal aims to ensure coordinated land allocation to support structured sports development in the capital. In motivating the…

27 Feb

Petroleum Governance at a Crossroads: Namibia Must Resist Centralism in Resource Control

National News

GIDEON SHAPUMBA Namibia’s proposed amendments to the Petroleum Act deserve far more public debate than they are getting. Behind technical phrases like “streamlining decision-making” lies a major shift in how the country’s most valuable resource could be controlled, one that risks giving excessive power to the Executive with little parliamentary oversight.The issue is not whether Namibia should benefit more from its petroleum resources. It absolutely should. The concern is how the government plans to achieve this. Moving key petroleum functions to the Presidency under a new Upstream Petroleum Unit is alarming. In reality, it would allow a small group of…

27 Feb

Capricorn reports 15% return on equity

Observer Money

Chamwe Kaira Capricorn Group Limited reported profit after tax of N$920 million for the six months ended 31 December 2025. The group operates in Namibia and Botswana and is listed on the Namibian Securities Exchange. It achieved a return on average equity of 15.0% for the period. Group CEO David Nuyoma said disciplined execution and continued investment in long-term initiatives supported performance during the current interest rate-cutting cycle. Net interest income rose by 2.1% to N$1.69 billion. Gross loans and advances increased by 2.6% year-over-year. Non-interest income grew by 3.6% to N$1.34 billion. This was driven by a 29.6% rise…

27 Feb

Standard Bank backs informal sector growth

Observer Money

Chamwe Kaira Namibia’s informal sector contributes 26.5% to gross domestic product and employs nearly 58% of the country’s workforce. These figures were highlighted at the Informal Sector Track of the Blue Growth Series held in Windhoek. The programme was convened by Standard Bank Namibia in partnership with the Namibia Investment and Finance Academy and other stakeholders. More than 100 informal entrepreneurs, policymakers and development partners attended the event. The focus was on helping informal businesses move into structured and sustainable enterprises. Arinze Okafor, CEO and founder of NIFA, said informal enterprise plays a key role in inclusive growth. “Funding alone…

27 Feb

Simonis Storm sees measured economic expansion

Observer Money

Staff Writer Global economic conditions heading into 2026 are expected to support steady growth rather than sharp expansion or contraction. This is according to the 2026 outlook released by Simonis Storm. The report says financial markets are becoming more sensitive to economic fundamentals. Corporate earnings quality, balance sheet strength and sustainable cash flow are expected to matter more than short-term market momentum. It notes that equity market performance will likely depend on earnings growth and operational efficiency rather than rising valuation multiples. Fixed-income assets are also regaining importance as sources of real income after years of low yields. Bonds are…

27 Feb

SA cuts bond auction size after budget

Observer Money

Chamwe Kaira The National Treasury of South Africa has adjusted its bond and Treasury Bill auction levels following the tabling of the 2026 Budget. The changes will take effect at the end of March. The Treasury said the competitive fixed-rate bond auction amount will decrease by R450 million to R2.55 billion. The new level will apply from the auction scheduled for 31 March 2026, with settlement on 7 April 2026. The inflation-linked bond auction amount will remain at R1 billion. The non-competitive fixed-rate bond allocation will stay at 75% of the amount offered. Of this, 45% will be issued on…