Observer Money

Staff Writer Standard Bank Namibia and RMB Namibia, in partnership with Terminal Investment Namibia (TIN), will fund a N$2.1 billion project to modernise the Port of Walvis Bay. The investment will help transform the port into a leading African transshipment hub. The collaboration supports TIN’s capital expenditure programme, which aims to upgrade terminal operations, increase capacity, and strengthen Namibia’s role as a key gateway for regional trade.  The project follows Namport’s decision to grant TIN a 25-year concession to operate and maintain the container terminal at Walvis Bay. Standard Bank Namibia and RMB Namibia structured and arranged the external funding…

Staff Writer Acacia-Composites Manufacturing, Africa’s only producer of Wood Plastic Composite (WPC) decking, cladding and battens, has signed a distribution agreement with Halsted Builders Express Zimbabwe, the leading construction and building supply company in Zimbabwe. The partnership follows an introduction to Acacia-Composites Manufacturing’s products at WoodEX for Africa in Johannesburg earlier this year.  During a visit to the Windhoek manufacturing plant, Halsted chief executive officer Stuart Knight was impressed by the quality of Acacia’s products. As a result, the two companies agreed to bring Acacia’s WPC decking to the Zimbabwean market.  The order of high-performance decking marks a key step…

Staff Writer The Nissan X-TRAIL is celebrating 25 years since its launch, marking a milestone for one of the world’s most popular SUVs. Introduced in 2000, the first-generation X-TRAIL (T30: 2000–2007) pioneered a new motoring category. It combined comfort, performance, and practicality in a 4WD vehicle, breaking the perception that such cars were heavy on fuel. The T30 featured a spacious interior designed for outdoor and sports use, a large cargo area, washable luggage boards, and water-repellent seats.  In 2003, a model update improved driver comfort with a pop-up steering wheel that tilted up to 45 degrees. The “Hyper Roof…

Staff Writer Orience’s Southern Africa team will host roadshows in Namibia and Zambia later this month to promote new international investment opportunities. The firm, known globally for offering residency and citizenship through investment, will hold its Windhoek roadshows from 17 to 19 November and in Lusaka, Zambia, from 19 to 21 November. Lisa Bathurst, Orience’s Southern Africa manager, said the sessions will help potential investors assess whether the Italian opportunity suits their financial and personal goals. “Potential investors must attend the roadshows to see whether the Italian opportunity would be a good fit for the investors and their families in…

Chamwe Kaira The FNB House Price Index recorded a 12-month average growth rate of 5.9% in the third quarter, down from 7.7% in the second quarter and 7.0% in the same period last year.  FNB Namibia said on Monday that despite the slowdown, the index remains resilient since exiting negative territory early this year. Price growth across the small, medium, large, and luxury segments stood at 4.4%, 0.3%, 1.9%, and -23.9%, respectively. Regionally, all areas recorded growth in the third quarter.  The central region rose by 4.8%, the coastal by 1.2%, the northern by 10.9%, and the southern by 8.5%,…

Chamwe Kaira Namibia’s inflation is expected to average between 3.5% and 3.8% in 2025, trending toward 4% in 2026 as fuel and utility costs stabilise at higher levels, according to analyst Almandro Jansen of Simonis Storm. Jansen said price pressures remain contained, but risks are tilted to the upside. “At its upcoming MPC meeting, we assign roughly a 60% probability to a further 25 basis points rate cut, aimed at supporting domestic demand while maintaining credibility in anchoring inflation expectations and preserving price stability,” he said. He noted that the inflation outlook remains steady but slightly upward. Moderating food prices…

Staff Writer The Roads Contractor Company (RCC) has entered into an agreement that allows it to receive and use brand-new equipment, including graders, tippers, dozers, drum rollers, excavators and loaders. RCC chief executive officer Dasius Nelumbu said the new machinery will help the company execute construction projects effectively and deliver on its mandate.  “For the past ten years, RCC was awarded construction projects which, due to lack of capacity in terms of equipment, were in most cases executed with a partner who had the required capacity. However, this arrangement could not yield the desired results because most of the projects’…

Staff Writer Telecommunications network services provider Paratus Group has launched “Paratus 500” following its expansion into seven new African markets this year. The new markets include Eswatini, Kenya, Malawi, Rwanda, Tanzania, Uganda, and Zimbabwe. With the expansion, Paratus is now licensed to operate in 15 African countries. This makes the Group one of the first pan-African telecom companies to cover over 500 million people south of the equator, representing more than one-third of Africa’s population and GDP. Paratus 500 connects all 15 licensed operations through a single, contiguous telecom network. The infrastructure includes terrestrial fibre routes, subsea cable landings, and…

Staff Writer FNB Namibia has appointed Carpio Minnaar as head of operations. With more than 15 years of experience in business optimisation, operations leadership, and regulatory compliance, Minnaar brings expertise from the banking, ICT and telecommunications sectors. He has held senior and executive roles at Mobile Telecommunications Company (MTC), Nedbank Namibia, and MTN Business Solutions. Known for aligning operations with business goals, Minnaar’s leadership will strengthen FNB Namibia Retail’s operational efficiency and service delivery. As head of operations, he will provide strategic and tactical direction while overseeing the management of the retail segment’s operations. His focus areas include improving efficiency,…

Chamwe Kaira The Namibia Civil Aviation Authority (NCAA) has reduced its losses to N$1 million for the financial year ending March 2025, down from N$8 million recorded in the previous year. The authority presented its 2024/2025 integrated annual report to the minister of works and transport, Veikko Nekundi, on 6 November.  It described the report as a reflection of strong financial recovery and improved operational performance. NCAA board chairperson Bethuel Mujetenga said the Authority achieved an unqualified audit opinion, showing solid governance and financial discipline. “For the financial year ending March 2025, the NCAA reduced its operational loss to just…