Observer Money

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…

Staff Writer Namibia’s energy ambitions came into focus during a visit by a United States government delegation to Baker Hughes’ facility at the Port of Walvis Bay. The delegation was led by US ambassador to Namibia John Giordano. It included Joshua Volz, special envoy for global energy integration at the US department of energy and Mike Kopp, senior advisor to the US secretary of energy, along with other officials. They toured Baker Hughes’ integrated multi-modal facility and received a briefing on the company’s operations in Namibia. The visit highlighted the role of the company’s infrastructure in supporting the development of…

Staff Writer Mobile Telecommunications Limited (MTC) has appointed Trophimus Hiwilepo as its new non-executive chairperson with effect from 13 February. The appointment follows the passing of former chairperson Theofelus Mberirua, which the company announced on 25 November 2024. In a notice to shareholders, MTC said the board appointed Hiwilepo in line with section 3.59 of the Namibia Securities Exchange Listings Requirements and Article 88 of the company’s Articles of Association. Hiwilepo has served as an independent non-executive director since July 2024. The board said the appointment reflects its confidence in Hiwilepo’s leadership and business experience, as well as his commitment…

Staff Writer Namibia Asset Management Ltd (NAM) shareholders approved all resolutions tabled at the company’s annual general meeting held on 12 February 2026. Shareholders noted and adopted the annual financial statements for the year ended 30 September 2025. Under ordinary resolution 1, shareholders approved remuneration for non-executive directors for the 2026 financial year. The resolution received 187.82 million votes in favour, with no votes against or abstentions. Ordinary resolution 2 approved the appointment of EY Namibia as the company’s registered auditor, as recommended by the Audit and Risk Committee. Shareholders also authorised the directors to determine the auditor’s remuneration. The…

Staff Writer Trustco Group Holdings Limited says no valid voting took place at its general meeting held in Windhoek on Monday, after the notice convening the meeting was found to be defective. The meeting was convened at the request of Riskowitz Value Fund LP and took place at The Weinberg – Muscadel & Burgundy venue. It was called in terms of section 189(3) of the Companies Act No. 28 of 2004. Trustco chairperson Advocate Raymond Heathcote SC ruled that the notice did not comply with section 1(8) of the Act, which sets out how and when notice must be given…