Observer Money

Chamwe Kaira  Agra Limited has reported a 40.5% increase in profit after tax to N$62.1 million for the six months ended 31 January 2026. The company released its unaudited results, showing growth across key financial measures. Revenue rose by 4.4% to N$1.593 billion from N$1.526 billion in the same period last year. Gross profit increased by 10.7% to N$312.4 million. Operating profit rose to N$86.2 million from N$60.7 million. Earnings per share increased to 121.47 cents from 86.46 cents. Net asset value per share rose to N$8.23 from N$7.16. Agra said the results were driven by improved operations, recovery of…

Chamwe Kaira  Namibia’s hospitality sector entered 2026 on a subdued but steady footing, with the traditional low season continuing to weigh on national occupancy levels. The latest figures from the Hospitality Association of Namibia showed that national occupancy stood at 32.39% in February 2026, slightly up from 31.23% in February 2025.  Simonis Storm said in a report that although still below the pre-pandemic February average of about 41%, the performance was broadly in line with the usual seasonal slowdown that marks the first quarter of the year.  During this period, international long-haul arrivals typically ease after the peak European winter…

Chamwe Kaira  The Namibian Securities Exchange (NSX) posted a weaker performance for the week of 16 to 20 March 2026, with the overall market index declining 3.65% as losses in basic materials and consumer discretionary stocks weighed on sentiment. According to the latest NSX data, the overall index fell from 2,148.65 points the previous week to 2,070.30 points, a drop of 78.35 points. This left the index down 3.32% from its December 2025 level of 2,141.33. The Local Index, however, edged slightly higher during the week, rising 0.11% from 817.61 points to 818.48 points. Since December 2025, the local index…

Chamwe Kaira  Mobile Telecommunications Limited (MTC) shareholders have approved all ordinary resolutions at the company’s annual general meeting held on 19 March 2026, including the appointment of two non-executive directors, the declaration of a final dividend, and the reappointment of the external auditor. Mobile Telecommunications Limited said shareholders ratified the appointment of Mercia Geises and Etiigwana Itope as non-executive directors. Both resolutions received strong support, with nearly all votes cast in favour. The meeting also noted the retirement by rotation of directors Trophimus Hiwilepo, Werner Schuckmann and Fabiam George. Andrew Kanime also retired by rotation. His resolution received 97.53% support,…

Windhoek – BFS Fund Manager has appointed Theopolina Kapani-Emvula as its new Chief Executive Officer, signalling a renewed push to expand financing support for Namibia’s small and medium-sized enterprises (SMEs). Kapani-Emvula, who assumed the role in December 2025, takes over at a time when access to capital remains a key constraint for many local businesses. Her mandate includes steering the organisation’s strategic direction and strengthening its position as a funding partner to SMEs seeking to scale operations and participate more meaningfully in the economy. She brings a diverse professional background spanning engineering, infrastructure advisory and project finance, with experience gained…

Staff Writer Foschini Group Limited (TFG) reported higher sales in its Africa business in the fourth quarter of the 2026 financial year to date. TFG said sales in TFG Africa rose by 7.6% compared to the same period last year. The company said this reflects improved trading and the impact of the dissipation of the previous year’s two-pot retirement fund release. Year-to-date sales in TFG Africa increased by 5.2%, supported by growth in online sales and value-added revenues. Gross margins have normalised since January but remain below levels needed to recover losses recorded earlier in the financial year, including during…

Mary Vilakazi, who financed her education through scholarships and a bursary, rose from a township to lead one of Africa’s largest financial institutions by market cap, FirstRand Group. Vilakazi first joined the group in 2018, where she served as Chief Operating Officer (COO) until her appointment as CEO in 2024. Before FirstRand, she was the deputy CEO of MMI Holdings, an insurance-based financial services firm, where she worked for nearly four years. At 27, she started working for PwC, where she became one of the firm’s youngest partners worldwide. In 2016, Vilakazi was named a World Economic Forum Young Global…

Chamwe Kaira  Momentum Group’s results for the six months ended 31 December 2025 show that Namibia contributed to growth in its Africa business. The group reported a recovery in its Africa segment. Operating profit moved from a loss of N$27 million in the previous period to N$136 million. Normalised headline earnings increased by 87% to N$352 million. The group said all countries contributed to the improvement. Namibia was named as a key source of growth in retail and corporate new business. The results show increased insurance activity in Namibia. Growth was seen in corporate protection and retail products. For the…

Chamwe Kaira  Revenues from the fuel levy are not enough to support road development and maintenance in Namibia. This is according to the Namibia Country Strategy Paper for 2025 to 2030 released by the African Development Bank Group. The report says the transport sector also faces an ageing rail network, skills shortages, and gaps in legal and regulatory frameworks. It outlines plans to expand infrastructure, strengthen skills, and support job creation. The bank said the government is shifting focus from road to rail. This is reflected in funding allocations. Namibia aims to position itself as a transport and logistics hub…

Staff Writer  Nasan Energies (Pty) Ltd has received approval to acquire 52 Engen and Shell-branded fuel service stations across Namibia from Vivo Energy Namibia. The approval follows a public engagement process led by the Namibia Competition Commission. More than 100 members of the public attended the stakeholder conference, where the proposed acquisition was discussed. The outcome supported the transaction. Managing director Jean-Blaise Ollomo thanked stakeholders, the public, and dealers for their support during the two-year process. In May 2024, Vivo Energy completed the purchase of Engen Limited from Petronas. This included Engen Namibia. After an evaluation of technical and financial…