Observer Money

Andrada secures N$48 million tin deal

Andrada secures N$48 million tin deal

Chamwe Kaira Tin producer Andrada Mining Limited has secured a N$48 million advance under an expanded exclusive offtake agreement with Thailand Smelting & Refining Co. Ltd (Thaisarco). Andrada announced that its wholly owned subsidiary, Uis Tin Mining Company (Proprietary) Limited (UTMC), has extended its existing offtake agreement with Thaisarco, first signed in November 2023. Under the new terms, Thaisarco will advance US$3 million, about N$48 million, to UTMC. The advance is unsecured and interest-free. It is repayable at UTMC’s discretion, except in specific default situations. The funds are expected to be received this week. In return, Thaisarco has been granted…
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Namibia eyes oil revenue windfall

Namibia eyes oil revenue windfall

Chamwe Kaira Namibia’s offshore oil and gas discoveries are expected to shape investment expectations in 2026, but they are unlikely to bring immediate changes to the structure of the economy. Industry analysts describe the current period as one of positioning.  They say policy clarity, infrastructure readiness and final commercial decisions will determine whether discoveries move to production. Between 2021 and 2025, more than 15 offshore exploration wells were drilled in Blocks 2913B and 2913A. Operators included TotalEnergies SE, Shell plc, Galp Energia SGPS S.A., Chevron Corporation and partners such as Rhino Resources Namibia and BW Kudu Limited. Despite multiple discoveries,…
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Debt climbs to 60% of GDP

Debt climbs to 60% of GDP

Chamwe Kaira Namibia’s fiscal position for the 2025/26 financial year shows growing pressure on revenue and rising debt, with limited room for policy adjustment in the short term. The government has revised its revenue forecast downward from about N$92.6 billion to N$89.4 billion after weaker-than-expected collections from major tax and non-tax sources.  By mid-year, revenue collections stood at about N$36.6 billion, or 41% of the revised target. This falls below the usual mid-year benchmark of around 50%, pointing to deeper revenue weakness. Transfers from the Southern African Customs Union (SACU) remain volatile, making fiscal planning difficult. Mining revenues have also…
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Standard Bank moves to tackle risk aversion with pricing overhaul

Standard Bank moves to tackle risk aversion with pricing overhaul

Staff Writer Standard Bank Namibia has introduced a new pricing structure aimed at addressing high levels of risk aversion and limited financial participation in the country. Head of business and commercial banking at Standard Bank Namibia, Hellen Amupolo, said that although 78% of Namibians were financially included in 2017, many still avoid formal financial services.  She said 57.8% of adults avoid borrowing; nearly 70% remain uninsured due to affordability concerns and formal savings participation has fallen to 60%. Amupolo said these trends point to structural barriers that limit deeper participation in the financial system. She noted that Namibia has a…
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B2Gold founder to retire

B2Gold founder to retire

Staff Writer Canadian gold producer B2Gold Corp, owner of the B2Gold mine in Namibia, has announced a leadership change. President and chief executive officer Clive Johnson will retire at the company’s annual general meeting on 4 June. He will also step down as a director. The board has appointed Mike Cinnamond, currently senior vice president of finance and chief financial officer, as the new president and CEO. Cinnamond will also join the board. Johnson has led B2Gold since it was founded in 2007. During his tenure, the company grew from a junior exploration firm into an international gold producer. It…
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Bank Windhoek appoints Shikalepo as head of procurement

Bank Windhoek appoints Shikalepo as head of procurement

Staff Writer Bank Windhoek has appointed Deolinda Shikalepo as head of procurement, effective 1 January 2026. Shikalepo has more than ten years of experience in procurement. Her background includes contract management, compliance, supplier relationship management and tender administration. She has worked in financial services, manufacturing and fast-moving consumer goods. She progressed from operational procurement roles to senior leadership positions. In these roles, she oversaw high-value contracts, led tender processes and implemented cost-control measures. In her new position, Shikalepo will provide strategic direction and governance oversight for the bank’s procurement function.  She will manage the full procurement cycle, including sourcing, contracting,…
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Defending the defenders of the law

The Windhoek Observer welcomes, without hesitation and without qualification, the urgent call by justice and labour relations minister Fillemon Wise Immanuel for residential security protection for all magistrates and prosecutors in Namibia. This recommendation is long overdue. It is both tragic and sobering that it has taken the death of prosecutor Justine Shiweda to bring this matter into sharp national focus. No public servant tasked with upholding the law should have to pay with their life before the state recognises the gravity of the risks inherent in the administration of justice. Yet here we are, reminded in the harshest possible…
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Anglo lowers value of De Beers again

Anglo lowers value of De Beers again

Chamwe Kaira  Anglo American has again reduced the value of De Beers, booking a US$2.3 billion (about N$43.7 billion) pre-tax impairment that weighed heavily on its 2025 financial results. The impairment contributed to a loss attributable to equity shareholders of US$3.7 billion (about N$70.3 billion) for the year. De Beers’ book value previously stood at US$4.1 billion (about N$77.9 billion). The details are contained in Anglo American’s full-year results for 2025, released on 20 February 2026. In simple terms, an impairment means the company has reduced the book value of an asset because it believes the asset is now worth…
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Low inflation opens door for more rate cuts

Low inflation opens door for more rate cuts

Chamwe Kaira Monetary policy in Namibia is expected to remain cautiously supportive in 2026 as the Bank of Namibia continues with a data-driven approach after easing interest rates in 2024 and 2025. Inflation remains contained and domestic demand is recovering at a slow pace. The central bank is expected to support growth while protecting external stability and the currency peg. Simonis Storm said in its 2026 economic outlook that after cumulative rate cuts brought the repo rate to about 6.50% by late 2025, there is room for further easing. The firm expects up to two additional cuts of 25 basis…
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Koryx reports strong drill results at Haib Copper Project

Koryx reports strong drill results at Haib Copper Project

Chamwe Kaira Koryx Copper Inc. has released new drilling results from its Haib Copper project in southern Namibia. The company reported test results from 13 drill holes covering nearly 5,000 metres. The work forms part of Phase 2 and Phase 3 of its 2026 exploration and development programme at Haib, which Koryx fully owns. Haib is planned as a large open-pit copper mine. Koryx aims to produce an average of 88,000 tonnes of copper per year over a projected 24-year mine life. The process would involve crushing and milling the ore before using flotation to produce copper concentrate. A preliminary…
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