Observer Money

Chamwe Kaira  Old Mutual Limited said the reduction in corporate tax in Namibia from 31% to 30%, effective January 2025, is expected to affect the operating environment for financial institutions. The change follows the Income Tax Amendment Bill 2024. The company also pointed to ongoing regulatory and compliance pressures, noting that Namibia remains on the Financial Action Task Force (FAFT) greylist alongside Kenya and South Sudan.  This requires stronger anti-money laundering controls and compliance measures. Old Mutual said Namibia remains an important part of its Southern Africa operations, supported by its position in asset management and its distribution network. Namibia…

Chamwe Kaira  Simonis Storm Securities said higher energy import costs could place pressure on Namibia’s reserves despite current buffers. The firm said banking-sector cash balances of N$6.3 billion and international reserves of N$51.7 billion recorded in February provide support. “However, higher energy import costs will draw on reserves more rapidly and the Bank of Namibia (BoN) will need to monitor the adequacy of import cover closely, particularly as the Strait of Hormuz disruption has already stranded vessels and pushed insurance and freight costs sharply higher,” the firm said. Data from BoN shows that credit growth has improved. Private sector credit…

Chamwe Kaira  Namibia’s merchandise trade balance improved in 2025, narrowing to N$25 billion from N$38.6 billion in 2024, the Bank of Namibia said. The improvement was driven by higher exports and slower growth in imports. Export earnings rose by 18.7% to N$101.3 billion from N$85.3 billion in 2024.  Imports increased slightly by 1.9% to N$126.2 billion from N$123.9 billion. Exports were supported by higher gold and uranium shipments, driven by both volumes and prices. Imports increased due to higher demand for vehicles, machinery and chemical products. Vehicle imports were linked to mining activity, public sector fleet replacement and household demand. …

Staff Writer The Namibian Competition Commission (NaCC) has approved the acquisition of Grove Mall of Namibia Proprietary Limited by Gold View Investments Proprietary Limited without conditions. The transaction involves the transfer of all shares in Grove Mall of Namibia to Gold View Investments. Gold View Investments is owned by Namstead Limited, which is jointly controlled by Homestead Group Holdings Ltd and Rockrunner Real Estate Limited. T The group invests in property, shares and securities outside Namibia, with operations in Switzerland, Mauritius, the British Virgin Islands and South Africa. Grove Mall of Namibia is a local company that invests in property…

Staff Writer The Namibian Competition Commission (NaCC) has approved, with conditions, the acquisition of a fuel retail business by Nasan Energies (Pty) Ltd. The deal involves Nasan Energies acquiring assets operated by Vivo Energy Namibia Ltd and Engen Namibia (Pty) Ltd under a sale of assets agreement. The transaction follows a condition set by the commission during its review of the merger between Vitol Emerald Bidco (Pty) Ltd and Engen Ltd in December 2023. Nasan Energies was created to acquire and operate the assets and has not yet started operations. The assets include 52 fuel service stations previously run under…

Staff Writer TransUnion Africa has announced the appointment of Annemie Botha as general counsel, effective 1 February.  In her role, Botha will lead TransUnion Africa’s legal, risk and compliance function across South Africa, Botswana, eSwatini, Namibia, Kenya, Rwanda, Zambia and Malawi.  Her responsibilities include aligning legal and regulatory strategies with business objectives, strengthening governance frameworks, and supporting sustainable growth across these markets, with a strong focus on advancing transparency, fairness, and consumer protection across the financial ecosystem. Botha brings over 17 years of experience in legal advisory, compliance, privacy and corporate governance, with deep expertise across credit bureau regulation and…

Chamwe Kaira  Namibia recorded net outflows of international remittances in 2025, amounting to N$304.5 million, compared to a net inflow of N$150.7 million in the previous year.  The increase in net outflows was primarily driven by higher personal transfer payments and increased compensation of employees paid to nonresidents, particularly in the fishing and mining sectors, the Bank of Namibia (BoN) has announced.  The country’s capital account surplus declined during the year. It fell by 17.1% to N$2.4 billion due to lower capital transfers from non-residents, including foreign governments and private institutions, with a notable drop in inflows from the United…

Chamwe Kaira  The Livestock and Livestock Products Board of Namibia (LLPBN) has repealed restrictions on poultry imports and introduced a new scheme to support local producers. The board confirmed that the government notice No. 54 of 28 February 2020 has been repealed following the issuance of a government notice on 1 April by the Ministry of International Relations and Trade.  The earlier regulation was issued under the Import and Export Act of 1994. LLPBN acting chief executive officer Goliath Tjijendapi announced the changes in a public notice. At the same time, the board introduced the Poultry Market Share Promotion Scheme…

Staff Writer  First National Bank (FNB) economist Cheryl Emvula said recent data shows a slight improvement in credit activity after a period of slowdown. “After four consecutive months of slower momentum, private sector credit extension (PSCE) growth improved marginally to 4.7% year-on-year in February 2026, supported primarily by stronger credit uptake in the corporate segment,” he said. He said businesses are showing renewed demand for credit, while households remain under pressure. “Household credit growth moderated slightly, reflecting a more cautious approach to borrowing amid tighter financial conditions and elevated living costs,” Emvula said. Instalment sales and leasing continued to lead…

Staff Writer  TransNamib Holdings Limited has approved a six-month trial of a dual-fuel locomotive powered by hydrogen and diesel in partnership with CMB.TECH. The trial will run for about 50 round trips along the Walvis Bay to Windhoek corridor.  It forms part of the company’s plan to reduce emissions and test new rail technology. TransNamib chief executive officer Desmond Van Jaarsveld said the trial will be assessed using a performance matrix that includes fuel use, reliability, efficiency, maintenance needs and cost. He said a decision on whether to expand the project will be made after the six-month evaluation. During the…