Observer Money

Staff Writer  Emirates is expanding its onboard wine programme with a new collection of champagnes and fine wines across all cabin classes, including premium vintages from France, Australia, Chile, South Africa and the United Kingdom. The airline said the new selection will be introduced across its global network over the coming months, ranging from Dom Pérignon Vintage 2017 and Château Mouton Rothschild 2003 in First Class to Wiston Estate Brut NV, Emirates’ first English sparkling wine, in Premium Economy. Emirates has invested more than US$1 billion in its wine programme since 2006. Its dedicated cellars in France currently hold about…

CHAMWE KAIRA  The Namibia Securities Exchange listed Africa Bitcoin Corporation Limited (ABC), has placed its chief executive officer Warren Wheatley and chief investment officer Akshay Karan on precautionary leave. This follows decisions by the Financial Sector Conduct Authority (FSCA) in South Africa affecting the two executives and the company’s head of media and investor relations, Tatum Wheatley. The company said its board was informed on 30 August 2026 that the FSCA had issued debarment orders against the three individuals. The orders restrict them from providing or being involved in the provision of financial products or financial services, acting as key…

CHAMWE KAIRA Australian-listed Core Energy Minerals has entered into an earn-in agreement with Deep Yellow subsidiary Reptile Mineral Resources and Exploration (RMR) that could see it acquire a 51% stake in a Namibian uranium joint venture through a A$5 million (N$57.5 million exploration investment. The agreement covers Nova Energy (Namibia), which holds Exploration Prospecting Licences 3669 and 3670 covering about 600 square kilometres west and south-west of the Langer Heinrich uranium mine. Deep Yellow, through RMR, currently holds a 65% interest in the joint venture, with Nova Energy (Africa) holding 25% and Namibian entity Sixzone Investments holding 10%. Under the…

Staff Writer FNB Namibia and RMB Namibia have announced the launch of ‘Beyond the Barrel’, an educational series aimed at helping Namibians better understand the country’s evolving energy sector and the opportunities it presents for the broader economy. As Namibia’s offshore oil and gas discoveries continue to attract international attention, the series seeks to make the industry more accessible by unpacking key concepts, developments and opportunities in a simple and practical way. “Namibia’s energy story extends far beyond what happens offshore. It has the potential to influence businesses, infrastructure, skills development, logistics and broader economic participation. Through Beyond the Barrel,…

CHAMWE KAIRA Paladin Energy’s Langer Heinrich Mine in the Erongo region has 21 million pounds (Mlb) of uranium contracted through 2030, providing the operation with a substantial sales base as uranium market fundamentals continue to strengthen. The mine sold 4.35Mlb of uranium oxide (U3O8) during the 2026 financial year at an average realised price of US$70 per pound. Paladin said 44% of its contracted volumes for the 2026–2030 period are subject to base-escalated and fixed pricing, while the remainder is linked to market-related pricing. The company said 85% of Langer Heinrich’s 70Mlb ore reserve is either exposed to market-related prices…

Staff Writer The spirit of entrepreneurship and community enterprise was on full display in Oshakati recently as 47 aspiring and established kapana vendors competed in the northern preliminary round of the Nedbank Kapana Cook-Off. After an intense showcase of culinary talent and entrepreneurial passion, Lucia Gideon, Saima Shipululu, and Loise Imvula emerged as the northern preliminary winners, earning their place in the national final where they will compete for life-changing business development prizes. The competition was established in 2014 to empower informal food traders by providing a platform for entrepreneurs to showcase their skills that can help transform small enterprises…

DStv has unveiled massive changes to its packages in South Africa following the Multichoice takeover by Canal+, with the first overhaul of streaming options revealed. The group will simplify its offerings by introducing new packages, including a separate Sports package. The new packages are expected to launch on 17 September. The packages are Starter, Select, Sports, Movies & Series, and Premium. Notably, these changes and new prices are for streaming packages only and do not reflect any changes to satellite decoders. The Starter package will cost R99 per month and offer 85 channels, including some sports, characterised as a “taster”…

Staff Writer  Cashbuild’s revenue increased by 6% for the period ended June 2026, but earnings were dragged down by a R34.9 million loss linked to the disposal of its Malawi subsidiary. The southern African building materials retailer said revenue from its 297 pre-existing stores rose by 2%, while 20 new stores contributed a further 4% to group growth. Transactions through Cashbuild’s tills increased by 5%, while selling price inflation stood at 1.5% at the end of June. Gross profit increased by 8%, with the gross profit margin improving to 25.3% from 24.8% in the previous period. However, operating expenses rose…

Staff Writer Sasol has reduced its net debt by 11% to US$3.3 billion and says it is now working towards sustainably bringing debt below US$3 billion before resuming dividend payments. The reduction in debt was achieved as the energy and chemicals group delivered on its 2026 net debt target of below US$3.7 billion, supported by stronger cash generation, improved operational performance and disciplined capital allocation. “This progress has increased our financial resilience, as we progress towards achieving our net debt target of below US$3 billion on a sustainable basis before the resumption of dividends,” Sasol president and chief executive officer…

CHAMWE KAIRA The country’s stock of international reserves increased by 2.9% month-on-month to N$58 billion at the end of July, supported mainly by Southern African Customs Union (SACU) receipts and strong foreign-currency placements by commercial banks, according to the Bank of Namibia’s Money and Banking Statistics for July.  The increase was also supported by the depreciation of the domestic currency and additional monetisation of gold during the month. The level of reserves translated into an estimated import cover of 3.6 months, increasing to four months when oil and gas exploration and appraisal-related imports are excluded. The reserves were estimated at…