Observer Money

CHAMWE KAIRA Business lending showed further signs of strain in May as other loans and advances to businesses recorded a third consecutive month of annual decline, reinforcing concerns that weakness in corporate credit is becoming structural rather than temporary, according to analysis by Almandro Jansen of Simonis Storm Securities. Business other loans and advances contracted by 2.4% year-on-year in May, worsening from a 1% decline in April after growing by 3.3% in March. Although the loan book increased by N$237.3 million during the month to N$20.2 billion, Jansen noted that the annual decline partly reflects a high base from a…

CHAMWE KAIRA The Financial Intelligence Centre (FIC) strengthened its financial position during the 2025/26 financial year, with total assets increasing to N$87.4 million as at 31 March 2026, according to its latest annual financial statements. The FIC's total assets rose from N$59.2 million in the previous financial year to N$87.4 million, driven largely by a significant increase in amounts receivable from the Bank of Namibia. Current assets increased to N$76.5 million from N$47.1 million a year earlier. Receivables from the Bank of Namibia accounted for the largest portion of current assets, rising sharply to N$67.5 million from N$40.5 million. Other…

Staff Writer Model will open a new Seagulls store in Walvis Bay as part of its second-year expansion strategy, with the retailer shifting its focus from business transformation to growth acceleration following its first year as an independent Namibian retail brand. The Walvis Bay opening forms part of a broader pipeline that also includes the continued modernisation of the Mega Centre store, the finalisation of Model Mooove and the ongoing development of a loyalty programme tailored to local shopping habits. Speaking as the company marked its first anniversary, Franziska Rüeck, CXO of the OL group and managing director of Model,…

Staff Writer  The German airline Condor, has announced that the full summer 2027 programme will be released gradually.  The airline, which stopped flying to Namibia following the outbreak of the Covid 19 pandemic and has announced plans to resume flights, has said the programme will enable guests to plan their travels for the upcoming summer season at an early stage. Tickets for flights to Windhoek, as well as other destinations already released from the summer 2027 flight schedule, are now available at www.condor.com and through all travel agencies. Condor announced at the end of June that it will add Frankfurt–Windhoek…

Staff Writer  Trustco Group Holdings says it expects to complete its outstanding audits during the fourth quarter of this year, subject to the completion of subsidiary and investee audits and the appointment of auditors in line with guidance from the JSE. The company provided the update in a trading announcement following its previous communication on 30 April 2026 regarding the suspension of trading in its shares on the JSE, progress on its audit processes and the publication of the Trustco Group audited annual financial statements for the financial years ended 31 August 2024 and 31 August 2025. According to the…

Staff Writer FNB Namibia has announced the appointment of Colaindunn von Luttichau as Head of Private Clients and Private Wealth, effective 1 June 2026. Von Luttichau has built an extensive career in banking and financial services, with experience spanning corporate banking, credit, structured lending, business strategy and client relationship management. Prior to her appointment, she served as Head of Premium Growth at FNB Namibia, where she was responsible for driving strategic growth and value creation across the Premium segment. In this role, she led initiatives focused on client acquisition, portfolio growth, specialised lending, customer retention and the optimisation of client…

The organisers of the 2nd Namibia Oil and Gas Technical Conference have unveiled the technical programme and speaker line-up for the event, which will take place in Windhoek on 19–20 August 2026 as part of the 4th Namibia Oil and Gas Conference. The conference will bring together engineers, geoscientists, project developers, regulators, technology providers and other energy professionals to discuss technical developments across Namibia's oil and gas value chain as the country moves towards first oil production. The first day will focus on upstream exploration and basin geoscience, appraisal and reservoir engineering, as well as infrastructure, midstream development and regional…

CHAMWE KAIRA Deep Yellow has expanded its uranium exploration portfolio in Australia with the acquisition of a 50% stake in the Cooper Creek Joint Venture, while reaffirming that its flagship Tumas uranium project in Namibia remains the company's primary development focus. The uranium developer announced on Tuesday that it had entered into a binding agreement to acquire Energy Resources of Australia's 50% participating interest in the Cooper Creek Joint Venture in Australia's Northern Territory for A$648,000 (approximately N$7.8 million). The acquisition strengthens Deep Yellow's presence in the Alligator Rivers Uranium Province, one of Australia's premier uranium regions, and expands the…

CHAMWE KAIRA Namdeb Holdings, the 50:50 joint venture between the Government of the Republic of Namibia and De Beers, has reported broadly stable diamond reserves alongside notable shifts in resource classifications, as it continues to navigate licence timelines, operational adjustments and volatile market conditions. The update is contained in Anglo American PLC’s 2025 Ore Reserves and Mineral Resources Report, with Namdeb's estimates presented as at 31 December 2025 in line with the SAMREC Code (2016). The figures are reported on a 100% ownership basis, while Anglo American holds an 85% interest in De Beers. According to the report, most of…

CHAMWE KAIRA Namibia’s official stock of international reserves declined by 5.8% at the end of May, falling to N$55.4 billion, mainly due to net South African rand (ZAR) outflows, according to the latest monetary data. The Bank of Namibia said the decline in reserves was largely driven by net ZAR outflows through commercial banks, compounded by customer foreign currency withdrawals and foreign payments made by the government. Despite the decline, the reserve position remained sufficient to cover an estimated 3.5 months of imports, or 3.8 months when oil and gas exploration and appraisal-related imports are excluded. The reserves were also…