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Chamwe Kaira  Capricorn Group Limited, with operations in Namibia and Botswana, posted a profit after tax of N$1.99 billion for the year ended 30 June, up from N$1.74 billion in 2024. Return on equity rose to 18.2% from 17.9% in the previous year. Group CEO David Nuyoma said the results reflect the strength of its business and the resilience of its teams. He credited prudent capital allocation, disciplined strategic execution, and investment in digital and data capabilities for the improved earnings and returns to shareholders. The group created a value of N$5.7 billion, an increase of 11.7% from the prior…

Chamwe Kaira   Debmarine Namibia has unveiled its Next Generation Crawlers after investing close to N$1 billion in their development.  Head of projects and technology development, Danie van Aswegen, said the new crawlers are designed to be more robust and extend their lifespan. The mining vessel Benguela Gem is serviced every three years, while its crawler is replaced every 18 months.  “It needs to be changed out because it is under so much load at the seabed. It’s not the best environment for equipment to operate. With the heavy load of moving material, it cannot last for long periods, so it…

Chamwe Kaira  Namibia’s weak economy, marked by low consumer spending and high inflation, continues to strain regional retailers.  For Choppies Enterprises Limited, losses in its Namibian operations have deepened an already tough trading year pressured by rising diesel costs, foreign exchange volatility, and the sale of its Zimbabwean business. The Botswana-headquartered retail group, listed on the Botswana Stock Exchange and Johannesburg Stock Exchange, issued a trading statement for the year ended 30 June 2025. Profit after tax from total operations is expected to fall between 25% and 35%, while profit after tax from continuing operations is projected to drop between…

Chamwe Kaira  City Lodge Hotels has written down N$13.5 million in Namibia after new tax rules restricted how companies can carry forward assessed losses. The changes, communicated by the Namibia Revenue Agency (NamRA) in September 2024 and from 1 July 2024, losses can  only be set off against taxable income to N$1 million or 80% of taxable income, whichever is higher. Losses may also not be carried forward for beyond five years. “In light of these changes, a N$13.5 million impairment has been recognised,” the group said in its financial statements for the year ended 30 June. In the prior…

Chamwe Kaira  Momentum Metropolitan's Africa operations delivered strong results, with Namibia recording higher corporate protection, new business volumes, and increased retail sales. Growth in Lesotho and Botswana also supported Africa’s overall performance. The Group’s normalised headline earnings rose 41% to N$6.26 billion. Earnings per share grew 46% to 451 cents, reflecting the impact of share buybacks.  Operating profit increased 52% to N$5.48 billion, supported by higher contractual service margin releases, improved mortality and morbidity experience, and strong contributions from Momentum Retail, Metropolitan Life, Momentum Corporate, Momentum Insure, and Guardrisk. Africa’s operating profit declined due to lower market variances, higher new…

Chamwe Kaira  Old Mutual Limited has confirmed the finalisation of its interim dividend, with Namibian shareholders set to receive 37 cents per share.  The company, listed on the Johannesburg, London, Malawi, Zimbabwe and Namibian stock exchanges, declared the dividend on 10 September. The payment will be made on 6 October 2025 to all shareholders, except those on the London register, who will receive their dividends on 3 November.  For Namibian investors, the payout equals 37 cents per share, reflecting the 1:1 parity between the Namibian dollar and the South African rand. South African shareholders will be subject to a 20%…

Staff Writer  In response to a directive from the ministry of finance, Letshego Holdings Namibia and its subsidiaries, Letshego Bank Namibia and Letshego Micro Financial Services Namibia, have suspended all new deduction at source loans for government employees with immediate effect. The company said all new micro-lending loans will now be issued through debit order arrangements and subject to a credit affordability assessment to ensure responsible lending. “While this marks a significant shift in the business landscape, Letshego has been preparing for this transition. Since 2016, the company has strategically diversified its product offering beyond micro-lending to include banking services.…

Chamwe Kaira  The International Finance Corporation’s (IFC) portfolio exposure in Namibia amounted to US$3.08 million (N$53 million) in the financial year ended 30 June 2025, representing 0.01% of its global disbursed portfolio.  This was down from US$10.67 million (N$184 million) in 2024. IFC’s investments in Namibia focus on access to finance, SME support, and infrastructure development, with an emphasis on resilient markets and private capital. IFC, established in 1956 and part of the World Bank, aims to further economic development by encouraging private enterprise in member countries. The corporation reported a net income of US$2 billion in 2025, compared to…