Observer Money

CHAMWE KAIRA Namibia's trade deficit widened sharply to N$5.5 billion in June as imports reached a record N$18.3 billion, outpacing exports of N$12.9 billion, according to the latest Namibia International Merchandise Trade Statistics bulletin. The June deficit represents a deterioration from the N$3.2 billion trade gap recorded in May 2026 and contrasts with the N$669 million trade surplus recorded in June 2025. The bulletin attributed the trade balance to stronger import growth, with petroleum oils, sulphur and unroasted iron pyrites, nickel ores and concentrates, commercial motor vehicles and fertilizers accounting for the country's main imports during the month. Exports continued…

Staff Writer  The Chamber of Mines of Namibia member companies employed 20 798 people during 2025. Of these, 8 201 were permanent employees, while the remainder worked through contractors. According to Chamber of Mines of Namibia president, George Botshiwe, 98% of permanent employees were Namibian citizens, highlighting the industry's focus on local employment and skills development. Mining employees also contributed about N$1.503 billion in Pay-As-You-Earn (PAYE) tax to the government during 2025. Botshiwe said chamber member companies have invested approximately N$1.95 billion in corporate social investment projects since 2013. Between 2011 and 2025, the industry also invested around N$1.82 billion…

Staff Writer  The Governor of the Bank of Namibia, Ebson Uanguta, has called on the country's financial sector to strengthen its technical expertise, governance and risk management capabilities to participate sustainably in Namibia's emerging oil and gas industry. Speaking at the Bank of Namibia's Oil and Gas Seminar in Windhoek, Uanguta said participation in the sector must be supported by capability, as financing opportunities will extend beyond oil production into transport, logistics, engineering, accommodation, technology, infrastructure, equipment supply and professional services. He said oil and gas projects are characterised by substantial capital requirements, long investment horizons, complex contractual arrangements, foreign…

Staff Writer Emirates and South African Airways (SAA) have announced an expansion of their codeshare partnership, enabling access to nine cities and establishing the start of a reciprocal codeshare agreement between both carriers. The expanded partnership opens more destinations across central and southern Africa, simplifying connectivity for customers. Since launching their codeshare agreement, Emirates and SAA have operated on a unilateral basis, with SAA placing its code on Emirates-operated flights between Dubai and Johannesburg, Cape Town, and Durban, as well as interline access to 68 Emirates destinations worldwide via Dubai.  With regulatory approvals secured, the new agreement will see Emirates…

Staff Writer Standard Bank Namibia has warned the public to be vigilant against a rise in investment scams and online marketplace fraud, saying criminals are using increasingly sophisticated tactics to trick consumers into transferring money under false pretences. The bank said the growing use of digital transactions and online interactions has created more opportunities for fraudsters to exploit trust, urgency and promises of financial gain to manipulate victims into making payments without verifying the legitimacy of offers. Standard Bank Namibia's manager of fraud risk, Colane Esterhuizen-Andreas, said scammers are targeting people across all demographics by presenting convincing investment opportunities or…

Staff Reporter Nedbank Namibia reaffirmed its commitment to supporting the growth and sustainability of the country’s mining sector through its participation in the Namibia Chamber of Mines Mining Expo, held this week. The Expo was officially by President Netumbo Nandi-Ndaitwah, who subsequently toured the exhibition area and engaged with exhibitors. During her visit to the Nedbank Namibia stand, the President met with the Nedbank delegation led by managing director, Martha Murorua. The engagement provided an opportunity to discuss the vital role of partnership, investment and sustainable growth in advancing Namibia’s mining industry and contributing to broader economic development. The visit…

CHAMWE KAIRA  Nedbank Group managing executive for Africa regions, Terence Sibiya, has said Nedbank is eyeing ‘sweet spots’ in Namibia’s emerging oil industry. Sibiya said during a media session that while oil majors like Total Energy have their own overseas financiers to develop the oil projects, the ‘sweet spots’ that the Nedbank is eyeing are infrastructure funding for roads, ports infrastructure and related infrastructure. Sibiya said the group is waiting for a final investment decision by the oil companies before considering which projects to fund. He said the group views Namibia and Mozambique as important players in its growth plans.…

Staff Writer The mining industry has been challenged to translate commitments into tangible outcomes. President Nandi-Ndaitwah said when she officially opened the 13th Chamber of Mines Mining Expo and Conference in Windhoek on Wednesday, that the mining industry had pledged to create more than 18 000 direct jobs and facilitate US$2.865 billion in new investments through the Namibia Public-Private Forum (NamPPF).  She commended progress on major uranium projects, including Bannerman Energy's Etango and Deep Yellow's Tumas developments, while encouraging the sector to intensify efforts in local beneficiation, value addition and sustainable employment creation. Nandi-Ndaitwah has called on Namibia's mining industry…

Staff Writer Andrada Mining Limited, a tin producer with a portfolio of critical mineral assets in Namibia, has announced that the Namibian Competition Commission (NaCC) has unconditionally approved the earn-in agreement made between the company's subsidiary, Andrada Investments (Mauritius) Limited (AIML) and ACAM LP through its subsidiary BWCAM Limited (BWCAM). Chief executive officer Anthony Viljoen commented: “The unconditional approval from the NaCC represents another important step in unlocking the potential of Brandberg West. Our partnership with BWCAM combines Andrada's Namibian operating and geological expertise with ACAM's investment capabilities to advance the project systematically.” Under the agreement, and as set out…

Staff Writer Savanna Beef Processors has reminded shareholders and livestock producers that the booking window for slaughter slots for the third quarter, covering September to November 2026, is entering its final month. The company said the deadline for all Q3 slaughter bookings is 31 August, urging shareholders and slaughter right holders to secure their preferred slaughter dates as early as possible to support operational planning and scheduling. Savanna Beef called on shareholders who intend to use their slaughter rights during the September to November period to make their bookings before the deadline. The company also requested that shareholders who do…