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Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector remains broadly positive, supported by strong global demand for gold and uranium.  In a quarterly report, the Chamber noted that elevated gold prices are boosting profitability and fiscal contributions, while uranium continues to benefit from its critical role in the global energy transition. “This positive price environment strengthens the investment case for new and advancing projects, such as Bannerman Energy’s Etango-8 uranium development and Reptile Mineral Resources’ Tumas uranium project, while providing favourable conditions for the construction of Osino’s Twin Hills gold project,” the…

Chamwe Kaira The microlending loan book grew by 12.8% year-on-year, reaching N$8.1 billion by the end of 2024, the Namibia Financial Institutions Supervisory Authority (Namfisa) said in its 2025 annual report.  The growth was reflected in higher disbursement figures, supported by both term lenders and payday lenders. Namfisa said term lenders accounted for the largest share of the loan book’s value, totalling N$7.6 billion, or about 94% of the total.  The total value of disbursed loans rose by 44.9% from the previous year, reaching N$5.2 billion. “The growth was driven by increased transactions between lenders and borrowers in the term…

Staff Writer The Bank of Namibia (BoN) has officially introduced the upgraded Namibian dollar banknotes and the new coinage series into circulation at a ceremony in Mariental, Hardap Region.  The event followed the launch of the series by President Netumbo Nandi-Ndaitwah on 23 July, during the bank’s 35th anniversary celebrations under the theme ‘Our Currency, Our Heritage, Our Pride – Meet the Next Generation of the Namibia Dollar.'  BoN said the choice of Mariental was deliberate, showing its commitment to inclusivity and to celebrating national milestones beyond the capital. It said the Namibian dollar is more than a medium of…

Chamwe Kaira FNB Namibia expects improvements in agriculture to support both the primary sector and downstream meat processing, while tourism is projected to recover strongly.  Hotels and restaurants are likely to surpass 2019 levels during the third-quarter peak season, the bank said.  Wholesale and retail trade are also expected to rebound if investment spending remains resilient. “From 2026 onwards, low base effects will further support the rebound. Therefore, while the 2Q25 print was weaker than expected, we maintain our view that GDP growth could still reach 3% in 2025, underpinned by the cyclical turnaround in agriculture and manufacturing, as well…

Staff Writer  Erongo Red employees will now be able to invest through salary deductions after the company recently formalised a payroll deduction agreement with NAMITVEST at its head office in Walvis Bay.  The initiative allows Erongo Red employees, especially members and former members of the Mineworkers Union of Namibia (MUN) and their dependents, to invest in Just Transition Investment (JTT) Namibia Limited through automatic deductions from their salaries.  It creates a structured pathway for workers to build personal wealth, accumulate assets, and participate in the company’s growth. NAMITVEST principal officer Jason Kasuto said the payroll initiative “ensures financial security through…

Nedbank Namibia hosted its second annual staff market day at the Nedbank Campus in Windhoek, reaffirming its commitment to nurturing employee entrepreneurship, creativity, and multidimensional talent. The initiative, part of Nedbank’s human capital strategy, gives employees a platform to showcase their personal business ventures, often referred to as side hustles, outside of their formal work duties. This year, 17 employees took part, offering a mix of products and services that included home-cooked meals, handmade crafts, vintage clothing, natural haircare products, custom spices, and innovative items such as 3D-printed accessories and décor. Photo: Nedbank

Chamwe Kaira  The number of active long-term insurance policies grew by 13.1% to 2,166,896 by the end of 2024. The growth was mainly driven by a higher volume of new policies underwritten during the year. The sector recorded growth in its assets, supported by recoveries in both global and local financial markets. The value of assets rose by 12.9% to N$83.8 billion as of 31 December 2024. This increase was largely driven by an expansion of the investment portfolio. Excess assets increased by 15.4%, supported by stronger growth in total assets compared with total liabilities. The value of total liabilities…

Chamwe Kaira In 2024, the Namibia Financial Institutions Supervisory Authority (Namfisa) received the highest number of complaints against the long-term insurance industry, totalling 138.  The short-term insurance industry followed with 89 complaints, while the microlending sector recorded 75.  Pension funds received 59 complaints, medical aid funds 10, and the capital markets industry two. Namfisa said consumer protection remains a top priority, with efforts aimed at building a financial environment where consumers are informed, protected, and confident in their dealings. The authority supervises both the long- and short-term insurance industries. Namfisa board chairperson Hettie Garbers-Kirsten said Namfisa safeguards consumers through regulations…

Staff Writer  A recent study shows that only 22% of Namibians feel confident about their retirement savings, while nearly half have not started saving.  The Old Mutual Namibia 2024 Old Mutual Financial Services Monitor (OMFSM) revealed that many people are under pressure, putting off big expenses, dipping into savings, or borrowing from friends and family to get through the month. The study found that although there is a strong desire to save, most people do not have enough left after covering basic needs. Financial stress remains a major challenge, with 52% of working Namibians saying they feel financially stressed. The…