Observer Money

Chamwe Kaira The newly elected steering committee of the SADC Tourism Alliance will focus on developing skills in Namibia’s tourism industry during its term. Tourism is Namibia’s fastest-growing economic sector, employing more than 100,000 people.  Tourist arrivals rose from 169 565 during the pandemic to 863 872 in 2023, according to the ministry of environment and tourism. The ministry was allocated N$797 million for the 2025/26 fiscal year. Regional tourism leaders have created a new governance structure to address barriers slowing the sector’s growth.  Intra-regional tourism accounts for less than 25% of arrivals, and air connectivity remains limited. The steering…

Chamwe Kaira Meat and beer became more expensive in July, official statistics show. The annual index for the ‘meat’ subcomponent rose by 10.3% in July, compared to 3.8% in July 2024. The Namibia Statistics Agency (NSA) attributed the rise mainly to beef prices, which climbed from 7% to 14.6%, minced meat from 4% to 12.6%, mutton and lamb from 1.9% to 12.2%, and sausages from 0.8% to 8.9%. Vegetable prices also surged. The index for vegetables, including potatoes and other tubers, rose by 9.7% in July compared to 4.6% a year earlier. Notable increases were recorded for cucumber (-17.5% to…

Staff Writer  Chevron has appointed Beatrice Bienvenu as country manager to lead its exploration activities in Namibia and West Africa. Bienvenu recently visited Windhoek in her new role and met with leaders from the Upstream Petroleum Unit in the presidency, the National Petroleum Corporation of Namibia (Namcor), the Petroleum Training and Education Fund (Petrofund), the US Embassy, and other institutions. “It was a privilege to travel to Namibia as Chevron’s new Country Manager to meet our key stakeholders,” Bienvenu said.  “It was an honour for me to share our positive experience in Namibia and highlight some of the factors that…

Chamwe Kaira  Letshego Holdings Namibia will pay a dividend of N$219.4 million, or 43.88 cents per share, to its ordinary shareholders, according to the company’s interim financial results for the period ending 30 June 2025.  The company, listed on the Namibia Stock Exchange (NSX), declared the interim dividend on 1 August, pending regulatory approval. Salient dates will be announced once approval is obtained. The results showed a 24.6% increase in profit after tax, rising to N$248 million from N$199 million in the six months ending 30 June 2024. Operating profit grew to N$284 million from N$219 million during the same…

Chamwe Kaira  The Bank of Namibia’s international reserves increased by 3.8% to N$59.6 billion at the end of June.  This rise was mainly driven by net inflows from commercial banks and customer foreign currency (CFC) placements. The reserves cover 3.9 months of imports, or 4.8 months excluding oil exploration and appraisal activities. Namibia’s banking industry cash balances fell further in June. Commercial banks held N$6.1 billion in cash, down from N$8.5 billion in May, primarily due to corporate tax payments made at the end of the month. Growth in broad money supply slowed in June. Annual growth in M2 decreased…

Chamwe Kaira  The demand for uranium is being driven by the existing reactor fleet, reactors under construction, and reactor life extensions, particularly in the US and other countries, according to Paladin Energy.  Significant growth in nuclear energy demand is expected from commitments made at COP28 and COP29. Thirty-one countries, including the US, Canada, the UK, and France, have pledged to triple nuclear power capacity by 2050. Another contributing factor is US President Donald Trump’s executive orders to boost the nuclear energy sector in the US, aiming to quadruple the US nuclear fleet from 100 GW to 400 GW by 2050. …