Observer Money

Chamwe Kaira  The Bank of Namibia (BoN) has signed a gold purchase agreement with QKR Namibia Navachab as part of efforts to strengthen its reserves. The agreement allows the central bank to buy gold produced in Namibia under a structured arrangement aligned with international reserve management standards. The move forms part of the bank’s gold acquisition programme aimed at improving the composition of reserve assets, strengthening financial resilience and supporting the country’s ability to respond to external shocks. “As a gold-producing nation, this approach also supports the retention of national resources and aligns with the bank’s mandate to safeguard macroeconomic…

Chamwe Kaira  Namibia’s stable political and legal environment offers a strong base for investment, but operational inefficiencies continue to limit business growth and job creation, according to Simonis Storm Securities. The firm said predictable policies and rules-based governance help reduce risk for investors.  However, businesses still face high costs, slow administrative processes and weak support systems that limit expansion. Drawing on the 2024 World Bank Enterprise Survey, Simonis Storm said companies face challenges such as limited access to finance and land, crime, high taxes, corruption, informality, skills shortages, unreliable electricity, transport issues and complex licensing procedures.  It said administrative delays…

Chamwe Kaira Santam Namibia chief executive officer Franco Feris has urged Namibians to review their insurance cover and secure their homes as the Easter long weekend approaches. He said policyholders should reassess the value of their household contents and take steps to protect their property.  “Insurance is there to protect you when the unexpected happens, but policyholders also have a responsibility to take reasonable precautions to safeguard their property,” he said.  “Taking these simple steps not only reduces the likelihood of loss but can also make the claims process far smoother should you need to claim. Solid preparation gives you…

Staff Writer  Rovos Rail says its tours to Namibia will continue despite a recent accident that claimed the lives of two crew members. The company said all services to Namibia remain operational and safety protocols remain in place. It operates about 10 train journeys from Namibia each year. The accident occurred on Sunday when a Rovos Rail train travelling southbound from Windhoek derailed at Naute, about 285km from Ariamsvlei near the South African border. The company said the incident was caused by a washaway of the last span of a bridge, which led to the loss of two locomotives and…

Staff Writer The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have signed an updated memorandum of agreement to strengthen cooperation in regulating and supervising the financial sector. The agreement sets out how the two regulators will share information, conduct joint supervision and coordinate oversight of banking institutions, financial institutions and intermediaries. At the same event, the institutions also formalised the terms of reference for a joint technical working group to support the development of financial technology in Namibia. The agreement provides for the exchange of information on key regulatory issues affecting institutions and groups. It…

Staff Writer Proflight Zambia has rolled out cashless payments across its operations, a move it says supports faster and safer transactions. The airline, which operates flights to Windhoek, introduced the system in November 2025 as part of a shift towards digital payments. Director of flight operations captain Josias Walubita said the change benefits both the airline and its customers.  “Going cashless strengthens the airline’s operations, enhances service excellence, and maintains a secure operating environment. At the same time, our customers enjoy greater convenience when paying for flights and services, with Proflight Zambia accepting card payments as well as mobile money…

De Beers has made one of the deepest ever cuts to its group of handpicked diamond buyers as the former monopoly grapples with a prolonged crisis roiling the industry, people with knowledge of the matter said. The company informed its customers, known as sightholders, on Friday whether they’d kept that status in a series of letters and follow-up calls, the people said, asking not to be identified as discussing confidential information. De Beers cut the number of buyers to between 45 and 50 from around 70, they said. De Beers declined to comment. The storied diamond miner has been mulling…

Wandile Sihlobo  As the conflict in the Middle East continues, the farming community in South Africa is increasingly worried about rising input costs, particularly fertiliser and fuel. On both, the issue is not that South Africa has a supply constraint but fear about the path ahead. Others are also worried about the impact of these developments on consumer food prices. What follows are broad views on how we should approach these issues. First, we don’t have a fertiliser supply issue for now, but prices are rising due to fears of global supply disruptions. The conflict in the Middle East is…

Chamwe Kaira  Oceana Group says its horse mackerel business delivered improved performance in the five months ended 22 February, despite lower catch rates in Namibia and a stronger rand. The company said the gains were driven by lower fuel costs and higher US dollar sales prices.  This was supported by a better product mix and strong market demand. “Additionally, improved results from the horse mackerel businesses in South Africa and Namibia enhanced the overall performance of the wild-caught seafood segment.” The group expects to release its interim results for the six months ending 31 March 2026 on or about 21…

Staff Writer  The Mariental Extension 6 Affordable Housing Development has been launched, marking a new phase in efforts to expand access to serviced housing in the Hardap region. The launch took place in Mariental and was officiated by vice president Lucia Witbooi, alongside regional and local leaders, development partners and community stakeholders. The project will service 311 residential plots, with 87 already completed. These include single residential and general residential erven. The development aims to meet growing demand for affordable housing in the town. Old Mutual Investment Group Namibia (OMIGNAM) is part of the project as a financier through the…