Observer Money

Chamwe Kaira Koryx Copper says it has made significant progress on infrastructure planning for its flagship Haib Copper Project in southern Namibia, including signing a memorandum of understanding with NamPower for a bulk electricity supply connection and advancing plans for water supply from the Orange River. The company announced the developments as it continues work toward completing a pre-feasibility study (PFS) for the project, which is expected to be published later this year. Under the agreement with NamPower, Koryx and the national power utility will begin designing the grid connection infrastructure required to support the mine’s operations. The project’s power…

Chamwe Kaira De Beers Group has intensified its efforts to boost demand for natural diamonds, unveiling a new phase of its global ‘Desert Diamonds’ marketing campaign. The company aims to capitalize on growing consumer interest while distinguishing natural stones from synthetic alternatives. The renewed focus on natural diamonds carries particular weight for diamond-producing countries such as Namibia, Botswana, Angola and South Africa, where economies and mining sectors derive substantial value from natural diamond production. Diamonds remain critical to Namibia’s economy. The country produced 556,000 carats of diamonds in the first quarter ending 31 March 2026, up from 459,000 carats in…

Staff Writer President Netumbo Nandi-Ndaitwah has called for greater financial inclusion, improved financial literacy and broader access to investment opportunities, saying these will be key to the continued development of Namibia’s financial sector. Nandi-Ndaitwah made the remarks during the 30th-anniversary celebration of Namibia Asset Management (NAM) at Droombos. In an address read on her behalf by finance minister Ericah Shafudah, the President congratulated the company’s board, management, staff and stakeholders on reaching the milestone, describing the anniversary as a testament to resilience, innovation, discipline and trust. “Thirty years is not merely a measure of time. It is a testament to…

Staff Writer Travellers are being urged to consider trip cancellation insurance as a safeguard against financial losses caused by unexpected events that force them to cancel their travel plans. According to Santam Namibia chief executive officer Franco Feris, uncertainty remains a reality for travellers, with factors such as illness, family emergencies and severe weather capable of disrupting even the most carefully planned holidays. Trip cancellation insurance is designed to reimburse travelers for prepaid, non-refundable expenses when unforeseen circumstances prevent them from travelling before their scheduled departure date. Feris explained that the cover can protect significant travel investments. He cited the…

Staff Writer Beetroot, carrots, chillies, herbs and other vegetables grown in a Namibian community garden were showcased and sold at Shoprite Lafrenz in Windhoek during Market Day. This year, the project which annually provides local community gardeners with a valuable retail platform coincided with World Hunger Day, which is a global awareness day focused on food insecurity and sustainable solutions. Groot Aub Fresh Producers is among more than 300 community gardens supported by the Shoprite Group across southern Africa, helping to strengthen food security in the region. “This year, Market Day provided nearly 60 local gardeners and cooperatives across the…

Angola will limit output of small rough in the coming months, aiming to avoid flooding the market, state-owned diamond miner Endiama has said. Angola is the world’s fastest-growing diamond-producing nation, with rough exports increasing 70% to 17.7 million carats in 2025. However, many of those goods are in the smaller categories that have struggled in the past two years, leading to charges the African nation has contributed to a glut in polished under 1 carat. The next sales of rough from Catoca and Luele, Angola’s two largest mines, will see a “substantial reduction” in availability of small goods, Elton Escrivão,…

Staff Writer The Capricorn Group has announced that Olebile Makhupe will step down from her role as managing director of Bank Gaborone, a subsidiary of the group, to pursue other strategic interests and priorities. Her resignation was acknowledged at the bank’s board meeting held on 28 May. She will leave the group on 31 August. Over the coming months, she will focus on the orderly handover of her responsibilities to support a smooth transition. “Since joining the group in February 2023, Makhupe has been a valued member of the Group Executive Committee and has provided steady leadership during an important…

Staff Writer South Africa's wool industry continues to play a significant role in the country's agricultural economy, despite its contribution having diminished from the dominant position it held more than a century ago, according to agricultural economist Wandile Sihlobo. Speaking at the National Wool Growers Association (NWGA) Congress in Jeffreys Bay, Sihlobo reflected on the historical and current importance of wool production after attending a presentation by Stellenbosch University agricultural economist Professor Johann Kirsten. Kirsten highlighted the industry's historic significance, noting that wool production accounted for 71% of the gross domestic product (GDP) of the Cape Colony in 1866. While…

Staff Writer The International Air Transport Association (IATA) and the International Civil Aviation Organization (ICAO) announced enhanced cooperation at ICAO Aviation Climate Week this week to advance transparency and integrity in tracking progress, and to accelerate the development and deployment of sustainable aviation fuels (SAF). Close collaboration between industry and states, supported by robust systems and high-quality data, will aim to enable transparent and credible tracking of cleaner aviation energies and their contribution toward net-zero carbon emissions by 2050, in alignment with the respective IATA and ICAO ambitions and commitments. Both organisations agreed to explore how SAF registries and the…

CHAMWE KAIRA The Namibian Competition Commission (NaCC) has approved 11 merger transactions, imposing conditions on two mining-related acquisitions to safeguard public interest objectives, including employment creation, skills development, and greater participation of Namibian businesses in key sectors. The Commission said it assessed each transaction to determine whether it was likely to substantially prevent or lessen competition, create or strengthen a dominant market position, and affect public interest considerations such as employment, industrial development, the participation of small and medium enterprises (SMEs), and the competitiveness of Namibian industries. Among the transactions approved with conditions was the acquisition by CNNC Overseas Limited…