Observer Money

Chamwe Kaira In 2024, the Namibia Financial Institutions Supervisory Authority (Namfisa) received the highest number of complaints against the long-term insurance industry, totalling 138.  The short-term insurance industry followed with 89 complaints, while the microlending sector recorded 75.  Pension funds received 59 complaints, medical aid funds 10, and the capital markets industry two. Namfisa said consumer protection remains a top priority, with efforts aimed at building a financial environment where consumers are informed, protected, and confident in their dealings. The authority supervises both the long- and short-term insurance industries. Namfisa board chairperson Hettie Garbers-Kirsten said Namfisa safeguards consumers through regulations…

Staff Writer  A recent study shows that only 22% of Namibians feel confident about their retirement savings, while nearly half have not started saving.  The Old Mutual Namibia 2024 Old Mutual Financial Services Monitor (OMFSM) revealed that many people are under pressure, putting off big expenses, dipping into savings, or borrowing from friends and family to get through the month. The study found that although there is a strong desire to save, most people do not have enough left after covering basic needs. Financial stress remains a major challenge, with 52% of working Namibians saying they feel financially stressed. The…

Chamwe Kaira  The Namibia Financial Institutions Supervisory Authority's (Namfisa) income for the financial year ending 31 March 2025 rose by 11.7% to N$312.3 million from N$279.5 million in 2024.  Expenditure increased by 5.4% to N$268.3 million, while other comprehensive income amounted to N$2.5 million.  This resulted in a total comprehensive surplus of N$46.5 million compared to N$37.7 million the previous year.  The surplus exceeded the budgeted surplus of N$81,202, supported by expenditure control and sustained revenue growth, the authority said. Levy income, which makes up most of Namfisa's non-exchange revenue, grew by N$36.2 million (14.2%) to N$291.7 million from N$255.5…

Staff Writer  Momentum Metropolitan Namibia has opened its revamped branch in Walvis Bay.  The occasion also marked the company’s 10th anniversary in Walvis Bay. The opening was attended by Walvis Bay mayor Trevino Forbes and Walvis Bay Chamber of Business and Entrepreneurship president Johnny Dauseb. “Today is more than just a branch opening; it is a celebration of 10 years of partnership with the people of Walvis Bay,” said Denille Roostee, marketing executive at Momentum Metropolitan Namibia.  “We are proud to reaffirm our purpose: to protect and grow our clients’ financial dreams. With our brands, Metropolitan (Together We Can) and…

Chamwe Kaira  The demand-supply gap for uranium continues to widen, Deep Yellow has said in its 2025 annual report.  Deep Yellow chairman Chris Salisbury noted that 2025 saw a further increase in global demand for uranium and rapid growth in the nuclear ambitions of many countries.  “There were also a number of production shortfalls on the mining supply side, indicating the challenges in creating a robust uranium supply regime. Higher prices will be needed to incentivise exploration, mine development, and maintaining mined supply,” Salisbury said.  He added that Deep Yellow is well positioned to respond once uranium prices rise. Deep…

Chamwe Kaira  Namibia is emerging as one of the most important players in the global uranium market as demand for nuclear energy rises, a report by Simonis Storm Securities has found.  Expanded uranium production could add between N$5 billion and N$8 billion annually to government revenue by the early 2030s, supporting debt sustainability and funding infrastructure and development. Namibia currently supplies between 10% and 11% of uranium mined globally.  Husab, majority-owned by China General Nuclear, produces more than 5 000 tonnes a year, making it one of the largest single uranium mines in the world.  Rössing, operating since the 1970s…