Observer Money

Chamwe Kaira  Paladin Energy’s Langer Heinrich Mine sold 533 789 pounds of uranium oxide during the quarter ending 30 September at an average price of US$67.4 per pound.  The sales generated about US$35.98 million, equivalent to roughly N$635 million. The company reported that a shipping delay affected sales volumes, resulting in a customer delivery after the quarter's end. It added that sales and prices depend on contract terms, payment conditions, and the timing of deliveries, which vary from quarter to quarter based on customer requirements. Mining activities at Langer Heinrich continued to ramp up during the period, focusing on drilling,…

Chamwe Kaira  French media company Groupe Canal+ has completed its takeover of MultiChoice Group Limited, marking the largest deal in the company's history. The merger creates one of the world’s biggest media and entertainment groups, with over 40 million subscribers across nearly 70 countries. The offer by Canal+ to acquire all outstanding shares in MultiChoice closed on 10 October, with 92.54% of shareholders accepting the N$125 per share cash offer.  Combined with shares already held by Canal+, the company now owns 94.39% of MultiChoice’s total issued ordinary shares. Following the strong shareholder response, Canal+ announced that it will use section…

Chamwe Kaira The government of Botswana has announced that, starting 14 October 2025, citizens will need an entry visa to travel to the United Kingdom (UK). The UK has introduced the same requirement for Namibia. According to the Botswana government, the UK decision follows concerns over illegal and irregular migration involving Batswana, including a rise in asylum applications since 2022.  As a result, the UK government has revoked Botswana’s visa-free status and introduced a visitor visa requirement for its nationals. Batswana transiting through the UK will also need a direct airside transit visa starting October 14, 2025.  A six week…

Chamwe Kaira  NamPower will this week receive its first shipment of batteries and Power Conversion Systems containers for the 51 MW/51 MWh Omburu Battery Energy Storage System (BESS) project at the Walvis Bay harbour. The project, located at the Omburu Substation near Omaruru, aims to help NamPower manage electricity demand and supply more efficiently through energy storage and the reduction of costly emergency energy use. The KfW Development Bank is providing EUR 20 million (approximately N$390 million) in grant funding for the project, while NamPower will contribute about N$100 million. “It will also provide various grid stability services, enabling the…

Chamwe Kaira  The Bank of Namibia (BoN) is expected to maintain the repo rate at 6.75% at its next Monetary Policy Committee (MPC) meeting on Wednesday.  “However, we do believe there is one more rate cut of 25 bps in the pipeline before the end of 2025, balancing stable inflation with the need to support economic growth,” said Almandro Jansen of Simonis Storm Securities. Jansen said Namibia’s inflation outlook remains stable but with risks tilted upward.  “While the food and transport categories will continue to shape near-term trends, the persistence of service-driven inflation suggests that price stability may become more…

Staff Writer  Old Mutual Namibia has announced that customers have redeemed more than N$2 million worth of rewards points through its rewards programme.  The milestone highlights the programme’s growing role in providing real value for customers’ financial engagement. Of the total redemption value, nearly N$1 million was redeemed through MTC Namibia. “This partnership has proven to be incredibly impactful, allowing members to convert their points into airtime and data, essentials in today’s digital world. The Foschini Group redemptions make up the other N$1 million redemptions, offering Rewards members multiple redemption options in stores,” the company said. The rewards programme encourages…

Staff Writer  The International Air Transport Association (IATA), in collaboration with management consulting firm Oliver Wyman, has launched a joint study titled Reviving the Commercial Aircraft Supply Chain.  The report examines the ongoing challenges in the aerospace supply chain, their impact on airlines, and strategies to address the global supply-demand imbalance. Delays in aircraft and parts production are forcing airlines to reconsider their fleet plans and keep older planes in service for longer.  The global commercial aircraft backlog reached a record high of over 17 000 aircraft in 2024, up from an average of 13 000 between 2010 and 2019.…

Chamwe Kaira The government has extended the implementation of the payment deduction management system (PDMS) reforms to next year. In a statement, the Ministry of Finance said reforms to the system have been extended to allow for more consultations.  The ministry noted that following its letter dated 25 August and the stakeholder meeting held on 16 September, the engagement period on the proposed reforms has been extended to 28 February. The ministry’s decision to suspend the deduction code has raised concerns among micro-lenders about their sustainability.  Simonis Storm Securities analyst Kara van den Heever said the suspension of the deduction…

Chamwe Kaira FNB Namibia has maintained its inflation forecast at 3.5% year-on-year for 2025.  Economist Helena Mboti said transport and housing costs are expected to keep mild upward pressure on prices, while good rainfall prospects should support lower food inflation over the medium term. “Overall, the outlook remains stable, although higher global oil prices and persistent geopolitical risks could add to transport and imported cost pressures in the short term,” she said. Headline inflation rose to 3.5% in September from 3.2% in August, mainly due to higher transport costs.  The purchase of vehicles subcategory increased to 4.4% year-on-year from 2.8%…

De Beers Group has announced that Feriel Zerouki, chief trade and industry officer and member of the executive committee, has decided to leave the company at the end of October 2025. Feriel joined De Beers in 2005 and has played a central role in shaping the company’s leadership in ethics, provenance and industry integrity. She led the launch of Tracr and GemFair, two major initiatives that advanced traceability and responsible sourcing in the diamond industry, strengthening consumer confidence and setting new benchmarks for transparency and sustainability. Beyond her work at De Beers, Feriel has led efforts to enhance the Kimberley…