Observer Money

Staff Writer Standard Bank Namibia has joined other financial institutions in an industry-wide effort to raise awareness about Know Your Client (KYC) compliance, in line with the Financial Intelligence Act of 2012. The initiative aims to ensure that customer information is accurate, current, and compliant with national regulations, a key step in protecting the integrity of Namibia’s financial system. Standard Bank has launched a multi-channel campaign encouraging clients to verify and update their personal details.  The campaign uses SMS and email notifications, as well as direct engagement through branches and relationship managers. “Client enablement is about more than just access;…

Chamwe Kaira The Bank of Namibia (BoN) has lowered its inflation forecasts for 2025 and 2026 by 0.2 percentage points to 3.6% and 4%, respectively, from its previous projection. BoN governor Johannes !Gawaxab said the revision reflects a stronger exchange rate and a lower oil price outlook.  “Risks to the forecast remain exchange rate volatility and potential upticks in administered and oil prices,” he said. Annual inflation averaged 3.6% during the first eight months of 2025, compared to 4.6% during the same period last year.  !Gawaxab said the decline was mainly due to lower prices in housing and alcoholic beverages…

Chamwe Kaira  Recent disclosures on the Namibia and Botswana stock exchanges show that senior executives at FirstRand Namibia Limited and Choppies Enterprises Limited have increased their shareholdings through market transactions and incentive schemes. At FirstRand Namibia Limited, two directors made separate on-market share purchases this week.  Emla Trust, a family trust linked to director Emile van Zyl, bought 12 136 ordinary shares at N$52.20 per share, amounting to about N$637 782.57. The trust is associated with van Zyl, who serves as both trustee and beneficiary.  The transaction took place on 13 October 2025 after obtaining the required clearance to trade.…

Chamwe Kaira  Agra Limited has told shareholders that the company’s profit after tax, basic earnings per share, and headline earnings per share for the year ended July 31, 2025, are expected to increase by between 53% and 59% compared to the prior period.  “This improvement follows a challenging prior year, shaped by strategic investments in expanding Agra’s footprint and upgrades to retail branches, as well as the impact of a prolonged drought. These investments are now bearing fruit, contributing to improved operational efficiency,” the company said. Agra stated that the improved rainfall across the country has provided essential relief to…

Allexer Namundjembo The diamond industry continues to struggle as global prices decline amid weaker consumer demand and growing competition from lab-grown diamonds.  High inventory levels in major markets have added further pressure on the sector. According to the latest monetary policy presentation by Bank of Namibia (BoN) governor Johannes !Gawaxab on Wednesday, the natural diamond sector has been declining since 2022 and the downward trend is expected to continue in the coming years. The Paul Zimnisky Diamond Index shows prices have been falling steadily over the past three years.  !Gawaxab said the slump is being caused by both structural and…

Chamwe Kaira  South Africa, where Namibian asset managers and pension funds have major investments, has listed three new government bonds. The National Treasury announced the listing of the R010, R187, and R188 fixed-rate bonds on the Johannesburg Stock Exchange (JSE) following the decision to split the R186 bond into three separate maturities. The listing took effect on 15 October 2025. It is part of the Split Option first announced on 8 February 2024, which allows holders of the R186 (10.50%) 2025/26/27 bond to voluntarily divide their holdings into three shorter-term instruments until 11 December 2025, before the first maturity date…

Chamwe Kaira  Paladin Energy’s Langer Heinrich Mine sold 533 789 pounds of uranium oxide during the quarter ending 30 September at an average price of US$67.4 per pound.  The sales generated about US$35.98 million, equivalent to roughly N$635 million. The company reported that a shipping delay affected sales volumes, resulting in a customer delivery after the quarter's end. It added that sales and prices depend on contract terms, payment conditions, and the timing of deliveries, which vary from quarter to quarter based on customer requirements. Mining activities at Langer Heinrich continued to ramp up during the period, focusing on drilling,…

Chamwe Kaira  French media company Groupe Canal+ has completed its takeover of MultiChoice Group Limited, marking the largest deal in the company's history. The merger creates one of the world’s biggest media and entertainment groups, with over 40 million subscribers across nearly 70 countries. The offer by Canal+ to acquire all outstanding shares in MultiChoice closed on 10 October, with 92.54% of shareholders accepting the N$125 per share cash offer.  Combined with shares already held by Canal+, the company now owns 94.39% of MultiChoice’s total issued ordinary shares. Following the strong shareholder response, Canal+ announced that it will use section…

Chamwe Kaira The government of Botswana has announced that, starting 14 October 2025, citizens will need an entry visa to travel to the United Kingdom (UK). The UK has introduced the same requirement for Namibia. According to the Botswana government, the UK decision follows concerns over illegal and irregular migration involving Batswana, including a rise in asylum applications since 2022.  As a result, the UK government has revoked Botswana’s visa-free status and introduced a visitor visa requirement for its nationals. Batswana transiting through the UK will also need a direct airside transit visa starting October 14, 2025.  A six week…

Chamwe Kaira  NamPower will this week receive its first shipment of batteries and Power Conversion Systems containers for the 51 MW/51 MWh Omburu Battery Energy Storage System (BESS) project at the Walvis Bay harbour. The project, located at the Omburu Substation near Omaruru, aims to help NamPower manage electricity demand and supply more efficiently through energy storage and the reduction of costly emergency energy use. The KfW Development Bank is providing EUR 20 million (approximately N$390 million) in grant funding for the project, while NamPower will contribute about N$100 million. “It will also provide various grid stability services, enabling the…