Observer Money

Chamwe Kiara  The Bank of Namibia (BoN) says it is close to finalising agreements under its gold accumulation strategy as it moves to diversify the country’s foreign exchange reserves. Nicholas Mukasa, director of financial markets, said the central bank remains committed to the gold acquisition programme as part of efforts to strengthen economic stability amid global uncertainty. “We are fairly advanced in concluding the agreements that will allow us to execute the accumulation of gold. We are close; we are very advanced with the gold acquisition programme,” Mukasa said. He said the bank has engaged local mines and approved refineries…

Chamwe Kaira  Celsius Resources Limited will terminate its secondary listing on the Namibia Securities Exchange (NSX) after receiving approval from the exchange’s listings division. The company, registered in Namibia as an external company under Registration No. F/ACN 009 162 949 and trading on the NSX under the share code CER (ISIN: AU000000CLA6), said the decision forms part of a strategic shift in its operations. In a notice to shareholders, the board said the company’s primary focus is now in the Philippines and that maintaining a secondary listing on the NSX is no longer financially feasible. “The board of directors of…

Chamwe Kaira  SSnail farming is not common in the arid Erongo region, but Namsnails Farming (Pty) Ltd has established operations on the edge of the Namib Desert and aims to build a place in Namibia’s agricultural and export sector. Chief executive officer André Mouton said the company breeds Cornu aspersum maxima, known as Gros Gris, for the escargot market. “Our present installed capacity allows for approximately 100 to 150 tonnes of live hibernated snails per annum, with the ability to scale further as infrastructure is expanded,” Mouton said. He said production is currently focused on the local and regional market,…

Staff Writer The Chamber of Mines of Namibia has rejected remarks made by International Labour Organization (ILO) country director Philile Masuku during a recent public dialogue on decent work in the mining sector. The chamber said mining is capital-intensive and highly mechanised, which means it employs fewer people directly than sectors such as agriculture and fishing. It said this does not reflect the full employment impact of the industry. According to the 2023 Population and Housing Census Labour Force Report, 14 337 people were employed in mining and quarrying in 2023, representing 2.6% of employed Namibians.  The chamber said this…

Chamwe Kaira The Bank of Namibia (BoN) says economic growth projections for 2025 and 2026 are under review and could be lower than earlier estimates due to slower domestic activity and global uncertainty. Speaking at the monetary policy announcement on Wednesday, Bank of Namibia governor Ebson Uanguta said real GDP growth is currently estimated at about 3% for 2025 and 3.8% for 2026. He said these figures may be revised downward. Domestic activity slowed in 2025. Agriculture, fishing, mining and manufacturing contracted during the first three quarters of the year. As a result, the growth outlook for 2025 is weaker…

Staff Writer Standard Bank Namibia’s Buy-a-Brick initiative has raised more than N$27 million since it started in 2015.  The funds have helped build over 740 homes for low-income families across the country. Through its community-driven model, the Shack Dwellers Federation of Namibia has facilitated the construction of more than 7 000 brick houses, improving living conditions for over 30 000 Namibians. Standard Bank strengthened its support for the Okalongo community through the 2026 Buy-a-Brick Community Outreach.  Working with the Shack Dwellers Federation, regional leaders and corporate partners such as Cliffe Dekker Hofmeyr Namibia, the bank continues to expand access to…

Staff Writer BHP Group Limited has reported higher earnings and revenue for the half year ended 31 December 2025 and increased its interim dividend. In results released on 17 February, the company said earnings attributable to ordinary shareholders rose to US$5.64 billion, up from US$4.42 billion in the same period in 2024.  Headline earnings increased to US$5.69 billion from US$4.38 billion a year earlier. Headline earnings per share rose by 30% to 112.0 US cents, from 86.3 US cents in the previous comparable period.  Basic earnings per share increased by 28% to 111.1 US cents, while diluted headline earnings per…

Chamwe Kaira Namibia’s vehicle market started 2026 on a strong note, with January sales reaching their highest level in ten years. A total of 1 005 vehicles were sold in January 2026. This is the strongest January performance since 2016. It marks a 4% increase from the 966 units sold in January 2025. “While this represents a constructive start to the year, sales moderated relative to the final months of 2025, dipping below the three-month moving average. On a month-on-month basis, volumes declined by 11.7%, a pattern that is not uncommon for January, given seasonal adjustments following the typically elevated…

Staff Writer Construction has started at the Kombat Mine following a ceremonial groundbreaking on 6 February. The event marks a new phase in the restart of one of Namibia’s historic copper mines. New Horizon Copper hosted the ceremony at the mine site. Senior company executives, government representatives, investors and members of the local community attended. The company outlined progress made so far and shared its development plans. Operations are expected to begin in the fourth quarter of 2026. The project will follow a phased approach. Once steady operations are reached, the mine plans to double historical throughput to 60 000…

Chamwe Kaira Mobile Telecommunications Limited (MTC) has disclosed that total executive remuneration rose to N$52.7 million in 2025, up from N$33.3 million in 2024. The increase was largely driven by performance bonuses and retention payments. According to the company’s notice of annual general meeting for 2026, executive directors earned N$25.6 million in salaries, N$7 million in allowances, N$6.95 million in performance bonuses and N$11.8 million in retention payments for the financial year ended 30 September 2025. MTC managing director Licky Richard Erastus received total remuneration of N$9.9 million in 2025, compared to N$7.3 million the previous year.  Finance director Marthinus…