Observer Money

CHAMWE KAIRA  Australian-listed uranium developer Deep Yellow Limited has delayed its planned final investment decision (FID) on Namibia’s Tumas uranium project, saying current equity market conditions do not support proceeding with the decision in the fourth quarter of 2026. The company said it remains committed to developing the project but will continue approved work while pursuing financing arrangements needed to move into full construction. Managing director and chief executive Greg Field said the decision to defer the investment decision reflected the company’s approach to investment timing and funding. He said the company would continue approved work at Tumas while pursuing…

CHAMWE KAIRA  The Bank of Namibia’s decision to raise the repo rate to 7.00% will increase annual repayments on a typical N$1 million home loan by about N$4 000 since the current interest rate hiking cycle began, adding pressure on households already facing higher fuel and electricity costs. The Monetary Policy Committee (MPC) unanimously raised the repo rate by 25 basis points on 28 October 2026, marking the second increase in the current cycle after the June hike to 6.75%. The latest increase pushes the commercial banks’ prime lending rate to 10.50%, raising monthly repayments on a N$1 million bond…

CHAMWE KAIRA Namibia Breweries Limited, WWF Namibia and the Global Water Challenge have signed a N$13 million, five-year agreement to strengthen water security in the Swakop River Basin, a critical water source for communities, farms and industry across central Namibia.  This will secure around 386 million litres of annual water benefits by 2030, equal to more than 150 Olympic-sized swimming pools from 153 hectares of land restored or under improved management. The Swakop Basin Collective Action Project is also known as the NBL Water Balancing Project. The five-year initiative brings together government, civil society and the private sector to address…

Staff Writer  The country’s dams held 1 210.9 million cubic metres of water as at 26 October 2026, representing 77.8% of their combined full supply capacity, down from 78.3% a week earlier. According to NamWater’s weekly dam bulletin, total water storage declined by 8.56 million cubic metres during the week from 19 to 26 October, leaving the country’s dams with 1 210.9 million cubic metres compared with 1 219.5 million cubic metres the previous week. The bulletin shows that the southern dam system remained the best supplied, holding 1 111.5 million cubic metres, equivalent to 86.4% of its combined capacity. …

Staff Writer  Following the strong interest in Old Mutual (OM) SEED: Seasons and the quality and diversity of applications received so far, the Old Mutual Foundation has expanded the 2026 prize structure to recognise more entrepreneurs across Namibia. Instead of awarding only three overall winners, OM SEED: Seasons will now award a first-, second- and third-place winner in each of its five categories. This means that 15 entrepreneurs will receive financial support through the 2026 programme. Each category will award: 1st Place: N$60 000, 2nd Place: N$40 000 and 3rd Place: N$30 000.  This brings the total prize allocation to…

Staff Writer  Sixty-eight Namibian entrepreneurs have graduated from the 2026 Blue Growth Series, a business development programme delivered through a partnership between Standard Bank Namibia and the Namibia Investment and Finance Academy (NIFA), further strengthening the country's pipeline of growth-ready small and medium enterprises. Now in its second year, the Blue Growth Series has expanded from 40 participating enterprises in 2025 to almost 80 in 2026, bringing the total number of businesses supported to nearly 120 over the past two years. The programme is designed to help entrepreneurs move beyond survival and towards sustainable growth by combining business development, market…

Staff Writer  Namibia is making great strides in terms of telecommunications infrastructure investment, according to Paratus Namibia. The company says while the country may lag behind some of its Southern African Development Community peers such as South Africa and Mauritius, Namibia scores significantly higher than the African average in infrastructure-driven metrics with the International Telecommunication Union’s (ITU) ICT Development Index placing Namibia above larger economies like Kenya, Ghana and Nigeria.  Paratus Namibia recently installed another 600 kilometers of fiber, bringing its total fiber network to over 5 000 kilometers.   One of the company’s most significant infrastructure projects has been the…

Kae Matundu Tjiparuro The National Assembly (NA) approved the Petroleum (Exploration and Production) Amendment Bill's second reading when it passed with 50 votes of the Swapo Party of Namibia, including one vote of the Economic Freedom Fighters (EFF). Members of the opposition parties within the NA walked out of the august house and thus did not vote for the Bill and can claim unaccountability for it. But what did the members of the NA actually and in essence vote for, and/or not? Those who voted in favour of the Bill cannot and should not deny complicity in the continued exploitation…

CHAMWE KAIRA The Bank of Namibia aims to buy 600kg of gold from local mining companies under its gold accumulation programme. Deputy governor Nicholas Mukasa revealed that the central bank has so far purchased 425kg of gold from local mines as part of its gold accumulation strategy. “If you look at the increase in our foreign reserves between the two MPC meetings, a significant part has come from gold. We have this programme where we are accumulating gold. We want to buy 600kg of gold. We are sitting at 425kg, and a lot of the growth in our foreign exchange…

CHAMWE KAIRA  Savanna Beef Processors has suspended all slaughtering, cooling, deboning and packing operations following Namibia’s foot-and-mouth disease (FMD) outbreak, with the producer-owned abattoir facing a critical financial period and a decision looming on arrangements for approximately 240 employees during November and December. In an information letter to shareholders and Beef Value Chain Forum (BVCF) members, Savanna chairperson Mecki Schneider said the company was operating in survival mode as it sought alternative markets, negotiated financial support and worked towards restoring operations. The outbreak was reported on 23 September, just two weeks after Savanna had reached its maximum daily production capacity…