Observer Money

Chamwe Kaira The Namibian Competition Commission (NaCC) has paid N$9 million in penalties into the state revenue fund after the audit of its 2024/25 financial year by the auditor general.  This fulfils its obligation under the Competition Act, which requires all collected penalties to be transferred to the fund. NaCC corporate communication practitioner Dina //Gowases said the commission collected the penalties through settlement and consent agreements with companies in several sectors, including non-financial services (N$1 million), cement (N$5 million) and fuel and air transportation (N$3 million).  She said investigations found that some companies violated chapters 3 and 4 of the…

Staff Writer The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have released the October 2025 Financial Stability Report, assessing the strength of the country’s financial system and its ability to withstand internal and external shocks. According to the report, the domestic economy slowed sharply in the second quarter of 2025, mainly due to weak performance in the manufacturing, fishing, and agriculture sectors.  The economy grew by 1.6% during the quarter, compared to 3.3% recorded in the same period last year. The contraction was driven by declines in manufacturing, fishing and fish processing on board, and…

Chamwe Kaira The eighth edition of the Namibia International Energy Conference (NIEC) will bring together industry leaders, government officials, and investors to discuss Namibia’s growing energy sector.  The conference will take place from 14 to 16 April 2026 in Windhoek. Organised by RichAfrica Consultancy, the conference will focus on Namibia's transition from exploration to development and production. It aims to promote the creation and sharing of in-country value while advancing a diversified energy mix that includes oil and gas, renewables, nuclear, and power generation. RichAfrica said this milestone edition will align with Namibia’s approach to building a balanced and sustainable…

Renthia Kaimbi Namibian Ports Authority (Namport) chief executive officer Andrew Kanime hosted Oshikoto governor Sakarias Kathindi and his delegation for a strategic familiarisation visit last Wednesday. The visit aimed to strengthen regional cooperation and give the governor a clearer understanding of Namport’s operations and its role in driving Namibia’s economic development. Discussions focused on potential areas of collaboration in corporate social investment (CSI) to support sustainable projects within the Oshikoto region. The engagement formed part of Kathindi’s broader outreach programme, during which he has been meeting various corporate entities to mobilise support for the region’s key challenges, including a severe…

Chamwe Kaira  Windhoek’s approved building plans rose by 28.4% in September, increasing from 176 in August to 226. Swakopmund recorded a smaller rise of 4.9%, with approvals going up from 81 to 85. Simonis Storm Securities analyst Almandro Jansen said that on an annual basis, Windhoek’s approvals dropped by 15.8%, while Swakopmund’s approvals rose sharply by 91%, from 45 to 85. “The latter can be attributed to a low base effect. Despite the mixed monthly results, the total number of approvals for both Windhoek and Swakopmund increased by 19% and 30%, respectively, quarter on quarter, during the third quarter of…

Chamwe Kaira FirstRand Namibia Limited shareholders have approved all ordinary resolutions presented at the company’s Annual General Meeting (AGM) held on Friday, 17 October. The company said the meeting, which covered governance and financial matters, recorded a voting participation of 85.87% of issued shares, with most resolutions receiving unanimous support. Shareholders approved the Annual Financial Statements for the year ended 30 June 2025 and confirmed declared dividends.  They also reaffirmed the appointments of independent non-executive directors Otto Shikongo and Emile van Zyl, while formally accepting the resignation of non-executive director I-Ben Nashandi. Samantha Balsdon was confirmed as a new non-executive…

Chamwe Kaira  Walvis Bay Salt Holdings (Pty) Ltd plans to apply for an amendment to its Environmental Clearance Certificate (ECC) to expand salt production within its Mining License (ML) 37 area. Documents show the expansion will take place southwest of Walvis Bay in the Erongo Region. The company, established in 1964, processes seawater to produce crude salt and is one of the largest solar evaporation salt facilities in Africa. In November 1995, the Ministry of Mines and Energy extended its licence for the salt works under ML 37. Annual production has since increased from 750,000 metric tonnes to about 1.1…

Chamwe Kaira Paladin Energy Ltd has raised A$100 million (N$1.12 billion) through its oversubscribed share purchase plan to support the ramp-up of the Langer Heinrich Mine to full operations by the 2027 financial year.  The company will also use the funds for working capital and future exploration. The uranium producer said it received overwhelming support from retail investors. The company had aimed to raise up to A$20 million under the non-underwritten offer priced at A$7.25 per share, but applications exceeded A$138 million. Paladin used its discretion to accept A$100 million in subscriptions. The share purchase plan followed Paladin’s A$300 million…

Chamwe Kaira Koryx Copper Incorporated, listed on the Namibian Stock Exchange, has announced that shareholders have overwhelmingly approved all resolutions at a special meeting held on 15 October, allowing the company to transfer its registered office and central administration from British Columbia to Luxembourg. In person or by proxy, the meeting saw the voting of 51.6 million common shares, or approximately 53.75% of Koryx's issued and outstanding shares.  The proposed transfer, known as the “continuation”, will see the company continue as a public limited company (société anonyme) under the name Koryx Copper S.A. The continuation and related resolutions received near-unanimous…

Chamwe Kaira Deep Yellow Limited has announced that its managing director and chief executive officer, John Borshoff, has stepped down from his position effective 20 October. Borshoff, who has led the company since 2016, will remain as an advisor until the end of November to ensure a smooth transition.  Under his leadership, Deep Yellow grew from a junior uranium explorer into an Australian Stock Exchange-listed producer-in-waiting with key assets in Namibia and Australia. During his tenure, Deep Yellow revitalised the Tumas Project in the Erongo Region, one of Namibia’s most advanced uranium developments, now nearing a final investment decision.  The…