Observer Money

Staff Writer Nedbank Namibia has increased its investment in Lüderitz as the southern coastal town gains importance due to planned growth in energy, logistics and export industries. The bank recently unveiled its upgraded Lüderitz branch under its nationwide project imagine modernisation programme.  The upgrade aims to improve banking infrastructure and client services in areas expected to see more commercial activity. Lüderitz is being positioned as a key industrial hub following developments linked to offshore oil and gas, green hydrogen and logistics centred around the Port of Lüderitz. Plans to expand the port at Angra Point, supported by international partners including…

Staff Writer More than 200 delegates gathered in Windhoek this week for the upstream oil and gas suppliers’ workshop, a two-day event aimed at helping Namibian small and medium-sized enterprises take part in the country’s growing upstream petroleum sector. The workshop was hosted by FNB Namibia, RMB Namibia, Petrofund and the Namibia Investment Promotion and Development Board. It brought together stakeholders from the financial sector, government, local businesses and international oil and gas operators and service providers. The event focused on helping SMEs understand Namibia’s upstream oil and gas industry while creating space for networking, supplier development and engagement across…

Christie’s will offer the Ocean Dream, the largest existing blue-green diamond, at its upcoming Geneva jewellery sale, expecting it will fetch up to CHF 10 million (US$12.8 million). Set in a ring, the triangular-cut, 5.50-carat, fancy-vivid-blue-green, SI1-clarity, type IIa stone comes with an additional mount containing sculpted rock crystal, round diamonds and pink diamonds, Christie’s said Friday. The polished stone, the largest vivid-blue-green diamond the Gemological Institute of America (GIA) has ever certified, originated from an 11.70-carat rough found in Central Africa. The May 13 Magnificent Jewels sale is only the second time the Ocean Dream has appeared at auction.…

Sonja van Kradenburg The future of work in Namibia will not be defined solely by technology or efficiency, but by the well-being of the people who make organisations thrive. Health and safety are no longer peripheral considerations; they are central to resilience, innovation, and trust.  When leaders recognise that wellbeing is inseparable from performance, they begin to see safety and health not as compliance measures but as strategic imperatives. A workforce that feels supported, aligned, and valued is the foundation on which sustainable success is built. Namibia’s context makes this imperative even clearer. The Occupational Safety and Health Bill proposes…

Chamwe Kaira  Telecommunications company Paratus Namibia Holdings Limited says its earnings are expected to fall sharply as it absorbs the cost of its new mobile network. In a trading statement, the company said headline earnings per share and basic earnings per share are expected to decline by more than 30% for the six months ended 31 December 2025. The company linked the decline to costs from the rollout of its mobile business, which launched on 2 September 2025. Paratus said operating expenses increased due to the new network.  Finance costs also rose as the company took on additional borrowing to…

Chamwe Kaira  The Airlines Association of Southern Africa (AASA) has raised concern over jet fuel availability in the Southern African Development Community (SADC) region beyond May 2026. The association warned that a lack of clear contingency plans could disrupt airline schedules, increase fares and affect regional economies. AASA said airlines need at least six weeks’ visibility on fuel supply to plan operations and meet obligations to passengers and cargo customers. AASA chief executive Aaron Munetsi called on fuel suppliers, depot operators, airports and SADC governments to share fuel allocation and distribution plans. He said concerns are linked to disruptions in…

Chamwe Kaira  Agronomy producers expect a harvest of about 111 447 tonnes. Producers shared this outlook during a meeting of the Agronomy Producers’ Association, where they said crop conditions are strong following good rainfall across most regions. About 23 390 hectares of maize were planted under dryland and irrigation. If conditions hold, output could exceed last season’s harvest. Producers said rainfall was timely across most maize-growing areas and supported crop growth.  Some eastern regions received less rain, but overall conditions remain favourable. They reported minor challenges such as weeds and limited pests. These are not expected to affect yields. Groundnut…

Staff Writer Telecom Namibia Limited and Angola Telecom have signed an agreement that allows Angola Telecom to access international bandwidth through the Equiano subsea cable landing in Swakopmund. The agreement was formalised through a memorandum of understanding and a commercial terms agreement signed in Swakopmund. The signing was attended by Namibia's minister of information and communication technology Emma Theofelus, Angola's minister of telecommunications, information technology and social communication Mário Augusto da Silva Oliveira, the mayor of Swakopmund and executives from both companies. Theofelus said the agreement strengthens regional connectivity. “This agreement reflects our shared belief that connectivity is no longer…

Staff Writer Bank Windhoek has reaffirmed its commitment to expanding access to property ownership in Northern Namibia, citing promising growth in property finance through estate agents and calling for coordinated action to increase the supply of serviced land, accelerate infrastructure rollout, and improve affordability for first-time buyers. Speaking at the Bank Windhoek Northern Estate Agents’ Awards hosted in Oshakati, Leon Koch, the bank's executive officer of business banking and acting executive officer of retail banking services, said Northern Namibia remained the country’s most active property market in 2025.  He cautioned that shortages of especially serviced land are constraining delivery, urging…

Staff Writer Trustco Group Holdings Limited says its legal disputes with Helios Oryx Limited and the Namibia Revenue Agency (NamRA) remain unresolved. In an update to shareholders, the company said both matters, first disclosed in its 2023 financial statements, are still before the courts or under review. Trustco said the Helios case is ongoing and subject to further legal processes. A British court earlier ordered Trustco to pay about N$371 million to Helios. The judgement was later allowed to be enforced in Namibia. Trustco has appealed the ruling. The company stated that legal channels are still handling related proceedings and…