Observer Money

Chamwe Kaira  The government plans to purchase 25 000 hectares of commercial farmland each year between the 2026/2027 and 2028/2029 financial years to support resettlement and agricultural development. The land will be used for the National Resettlement Programme, generational farm workers, landless farmers along agricultural corridors, as well as women and youth participants. According to the Ministry of Agriculture and Land Reform’s medium-term programme, the land purchases will also support irrigation projects such as the Neckartal Dam scheme and other agricultural developments. Officials said progress will depend on the availability of funding for land procurement. During the 2024/2025 financial year,…

Staff Writer  Paratus Namibia Holdings Limited has delayed the publication of its interim financial results for the period ended 31 December 2025. In a notice to shareholders, the company said the results will be released after the deadline set under the listing requirements of the Namibia Securities Exchange. The company said the delay follows the rollout of a new operating support system and business support system at Paratus Telecommunications (Pty) Ltd, the group’s main operating subsidiary. The systems were introduced to support the launch of Paratus’ mobile business. According to the board, the company needs more time to reconcile and…

Chamwe Kaira  The Office of the Labour Commissioner resolved 77% of labour disputes during the 2024/2025 financial year, exceeding its target of 75%. According to the Medium-Term Expenditure Framework for 2026/2027 to 2028/2029 for labour and industrial relations, the office handled 4 203 labour dispute cases through its dispute resolution system. Of these cases, 3 253 were resolved, while 950 remained pending by 31 March 2025. Most of the pending cases were delayed due to postponements. Conciliation remained the most common method used to resolve disputes. A total of 2 064 cases, representing 63% of resolved matters, were settled through…

Staff Writer O&L Leisure, the hospitality division of the Ohlthaver & List (O&L) Group, has appointed Maryke van Lill as managing director, effective 1 March 2026. Van Lill simultaneously joins the O&L Group executive team, marking a significant milestone for her career and the business. Van Lill brings more than 15 years of diverse experience across marketing, brand strategy, innovation and client leadership. Most recently serving as O&L Leisure's general manager for marketing, she was the driving force behind the "Namibia Through Our Eyes" platform, a philosophy that has redefined how O&L Leisure presents Namibia to local and global travellers.…

Canal+ CEO Maxime Saada says the company will bring its over-the-top (OTT) platform, the Canal+ app, to South Africa to replace the “bleeding” Showmax. MultiChoice announced its intention to shut down Showmax on 5 March 2026 and said it would ensure no disruptions for Showmax subscribers during the transition phase. “As you know, this was a severely loss-making activity on which we saw no recovery, no matter what was done,” the CEO said. Saada explained that Canal+ quickly came to an agreement with Comcast to shut down Showmax as soon as possible but said he couldn’t share details on the…

Anglo American has massively downgraded the value of De Beers on its balance sheet, suggesting a bargain might be in the offing for its many bidders. Which might make the sale easier and quicker, right? Of course, this is not an obvious conclusion, given that after nearly two years, the sale of the once-formidable diamond business is still dragging along, while the assault of lab-grown gems on the market has intensified. Take the fact that a third cut to De Beers’ value last year – from US$4.1bn to a miserable US$2.3bn – was largely to blame for parent Anglo American’s…

Staff Writer  The African Development Bank Group (AfDB) has launched its Namibia country strategy paper for 2025–2030, with plans to support the creation of 25 000 jobs for young people and expand key infrastructure across the country. The strategy was launched in Windhoek this week and sets out priorities aimed at improving access to energy and water, strengthening skills development and supporting economic growth. Moono Mupotola, deputy director general for Southern Africa and country manager for Namibia at AfDB, said the strategy marks a new phase in the bank’s partnership with Namibia. “The launch of this country strategy paper marks…

Staff Writer The finance minister, Ericah Shafudah, says Namibia is at a turning point in its economic path and must work across sectors to drive development. Shafudah made the remarks at Standard Bank Namibia’s annual budget dialogue on Wednesday, where government, financial institutions and industry leaders discussed the 2026/27 national budget. She said the national budget should not be viewed only as a government document. “A national budget is not merely a government document but a national development instrument,” she said. Shafudah said its success depends on cooperation between governments, businesses, financial institutions and citizens. She said Namibia must use…

Chamwe Kaira  The recent increase in civil servant wages is expected to provide some support to household purchasing power and household credit demand in the near term, according to FNB Namibia economist Cheryl Emvula. “However, while these improvements may provide modest relief, they are unlikely to drive a substantial acceleration in household Private Sector Credit Extension (PSCE) growth. This is largely due to persistent structural constraints facing households such as sluggish income growth, elevated living costs, and limited affordability, pressures that remain particularly acute in the mortgage segment, which accounts for the largest share of household credit. As a result,…

Chamwe Kaira  Remgro Limited has sold additional shares in FirstRand Limited through on-market transactions, generating proceeds of about R4.88 billion. The South African investment holding company disposed of 51.97 million FirstRand shares between 2 February and 10 March 2026 at an average price of R93.87 per share. The sale forms part of Remgro’s process of reducing its remaining stake in the banking group. Remgro’s involvement with FirstRand began through its investment in RMB Holdings. In June 2020 the company unbundled its indirect interest in FirstRand through RMB Holdings but retained a direct stake of 3.92% in the bank. The company…