Blog – Page 31 – Windhoek Observer

03 Oct

Truworths keeps 12 stores in Namibia despite regional growth

Observer Money

Chamwe Kaira Fashion retailer Truworths International has reaffirmed its presence in Namibia with 12 stores across the country as part of its African retail footprint. The group operates 33 outlets outside South Africa, including 12 in Namibia, 12 in Botswana, five in Eswatini, two in Zambia, and two in Lesotho. Truworths, listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange, and A2X, said it is strengthening customer access through both physical and digital channels. Its online platform grew rapidly in 2025, with e-commerce sales rising 33.7% to account for 6.5% of Truworths Africa’s total retail sales. The company confirmed…

03 Oct

Oryx ready to repay N$248m bond

Observer Money

Chamwe Kaira Oryx Properties has included in its funding strategy the upcoming maturity of its N$248.5 million corporate bond due in November. The company said discussions with potential investors and arrangers are already underway. “The directors are confident in the group’s ability to refinance or repay the bond through available liquidity or new issuances,” Oryx said. For the year ended 30 June 2025, Oryx reported a net asset value of N$2.58 billion, down from N$2.77 billion in 2024. Available funding stood at N$385 million, excluding a Domestic Medium-Term Note Programme of N$251.5 million and ring-fenced facilities of N$154 million for…

03 Oct

Etango construction stays on budget and schedule

Observer Money

Chamwe Kaira Bannerman Energy says early construction works at the Etango uranium project are on track with both budget and schedule. The executive chairman of Bannermann Brandon Munro said detailed design work on the Etango process plant is progressing well, with dry plant engineering now about 86% complete. “I am pleased with the on-time, on-budget progress that the Bannerman team is achieving in conjunction with our contractors. Our focus on tight contract and activity controls continues to be consistently applied by the team,” Munro said. The bulk earthworks contract, awarded in August 2024 for a 24-month period, is 42% complete…

03 Oct

Tumas project to sign deals with NamPower, NamWater

Observer Money

Chamwe Kaira Deep Yellow, the developer of the Tumas uranium project in the Erongo Region, said firm volume and price offers have been received from NamWater and NamPower at or below those assumed in the 2025 definitive feasibility study. “The power and water supply contracts are being finalised and are expected to be executed during the fourth quarter of the 2025 calendar year. Ongoing work continues to reinforce Tumas as a robust project and one of the most advanced greenfield uranium development projects available globally,” the company said in its annual report. During the first half of 2025, Deep Yellow…

03 Oct

BoN welcomes cut in lending rate spread

Observer Money

Allexer Namundjembo The Bank of Namibia (BoN) has welcomed the decision by commercial banks to reduce the spread between the repo rate and prime rates, including mortgage and other lending rates. The move follows the central bank’s guidance to cut the margin by 25 basis points. The adjustment is being rolled out in two phases. The first reduction of 12.5 basis points took effect on 30 September 2025. A further 12.5 basis point cut is expected by 31 December 2025. “This policy measure aims to narrow Namibia’s historically wide interest rate margins, thereby making credit more affordable for households and…

03 Oct

Areximbank allocates US$100 million to NBS Bank Plc Malawi

Observer Money

Staff Writer African Export-Import Bank (Afreximbank) has signed a facility agreement with NBS Bank Plc Malawi to provide a US$100 million Afreximbank Trade Facilitation Programme (AFTRAF) line of credit. The facility will support NBS Bank’s growing trade finance portfolio and enable it to continue meeting the needs of its trade clients. The agreement was signed on the sidelines of the Intra-African Trade Fair 2025 by Haytham El Maayergi, Afreximbank executive vice president, Global Trade Bank, and Temwani Simwaka, chief executive officer of NBS Bank. The facility is designed to increase NBS Bank’s trade volumes and support imports of essential commodities…

03 Oct

OBSERVER DAILY | Local ownership in mining: Namibia must strike a

Editorial, Featured, Opinions

bold, balanced path The recent warning from the Chamber of Mines about "growing risks" to Namibia’s mining sector due to policy uncertainty, particularly the proposal for 51% mandatory local ownership in new projects, deserves careful attention. The Chamber is right on one key point: investor confidence depends on a stable and predictable regulatory environment. But it is wrong to suggest that government proposals aimed at ensuring greater domestic participation should be viewed as threats rather than opportunities. Namibia is not stepping into the unknown. Local ownership is not a radical or reckless concept; it is a globally recognised policy instrument…

02 Oct

‘I remain at your disposal,’ Mnyupe tells govt …and nominates his successor

Main

Renthia Kaimbi Former head of the Namibia Green Hydrogen Programme (NGH2P), James Mnyupe, has told the government that he is open to working with it whenever needed. The remarks were made in his resignation letter to deputy prime minister Natangue Ithete, seen by the Windhoek Observer. Mnyupe said he has stepped down as head of the programme, effective on 30 September 2025. However, a press statement released on Thursday morning by NGH2P stated that his resignation will take effect on 1 November 2025. “I remain at your disposal to assist the Namibian government in advancing its developmental agenda in any…

02 Oct

Ministry reviews failures after 38% of Etosha burnt

National News

Allexer Namundjembo The Ministry of Environment, Forestry and Tourism said it is assessing shortfalls in the implementation of a fire management strategy for protected areas following devastating wildfires in Etosha National Park. Environment and tourism minister Indileni Daniel said in a media statement on Wednesday that corrective measures will be considered once the assessment is complete. She said the evaluation also aims to determine the extent of damage caused by the fires, including possible wildlife casualties. Daniel said the process may take several days. The ministry said following an aerial assessment conducted on Tuesday, no active fires were detected inside…

02 Oct

Sankwasa summons Erongo councillors to urgent meeting

National News

Renthia Kaimbi The minister of urban and rural development, James Sankwasa, has called an urgent meeting with all Erongo regional councillors this Friday. The meeting will involve all regional councillors, chief regional officer Mupenzeni Ntelamo, and regional heads of the three political parties represented in the council. Sankwasa raised concern in a formal letter to Erongo governor Natalia Goagoses, warning that the council’s inaction is undermining accountability. “The inactivity of the regional council to take corrective measures therefore violates the code of conduct governing the expected good conduct of regional councillors,” the letter states. Sankwasa linked the council’s defiance of…