Observer Money

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…

Chamwe Kaira  PSG Financial Services expects earnings for the year ended 28 February 2026 to rise by more than 20%, driven by growth in headline, recurring headline and attributable earnings. In a trading statement released on Monday, the South African-listed group said it had reached a reasonable degree of certainty on its results. Headline and recurring headline earnings per share are expected to be between 133.5 cents and 136.5 cents. This reflects an increase of 32% to 35% from 101.1 cents reported a year earlier. Recurring headline earnings, excluding amortisation, are expected to range between 139.7 cents and 142.9 cents…

Staff Writer Westair Group will introduce a fuel surcharge across its aviation operations from 23 March 2026. The surcharge will apply to services under FlyNamibia, FlyNamibia Safari and Westair Charters.  The company said the move comes in response to rising fuel costs and supply pressures linked to ongoing conflict in the Middle East. Westair said fuel remains one of the largest operating costs in aviation and recent increases have placed pressure on the industry.  It said the surcharge is aimed at maintaining operations, route networks and service reliability. “We remain committed to connecting Namibia and supporting the country’s tourism and…

Staff Writer  Anglo American plc will delist its ordinary shares from the SIX Swiss Exchange in June after receiving approval from SIX Exchange Regulation. The company said trading in its 1.18 billion ordinary shares will stop on 25 June 2026, with the delisting taking effect on 26 June 2026. It said the move forms part of a review of its global share listings linked to its proposed merger with Teck Resources. The decision was also influenced by low trading volumes on the Swiss exchange and the cost of maintaining multiple listings. Anglo American said that once the delisting takes effect,…

Staff Writer Owning a home remains out of reach for many Namibians as property prices continue to rise. Entry-level apartments in Windhoek start at about N$525 000, while modest houses can reach close to N$2 million.  High deposits and transfer costs have made it harder for young professionals and middle-income earners to enter the market. Nedbank Namibia has launched its “Unlock Your First Home” initiative to address this challenge. The bank has set aside a lending portfolio for first-time homebuyers as part of efforts to improve access to housing. Nedbank Namibia head of lending, Chane Isaaks, said the aim is…

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,…