Observer Money

Staff Writer Telecom Namibia Limited and Angola Telecom have signed an agreement that allows Angola Telecom to access international bandwidth through the Equiano subsea cable landing in Swakopmund. The agreement was formalised through a memorandum of understanding and a commercial terms agreement signed in Swakopmund. The signing was attended by Namibia's minister of information and communication technology Emma Theofelus, Angola's minister of telecommunications, information technology and social communication Mário Augusto da Silva Oliveira, the mayor of Swakopmund and executives from both companies. Theofelus said the agreement strengthens regional connectivity. “This agreement reflects our shared belief that connectivity is no longer…

Staff Writer Bank Windhoek has reaffirmed its commitment to expanding access to property ownership in Northern Namibia, citing promising growth in property finance through estate agents and calling for coordinated action to increase the supply of serviced land, accelerate infrastructure rollout, and improve affordability for first-time buyers. Speaking at the Bank Windhoek Northern Estate Agents’ Awards hosted in Oshakati, Leon Koch, the bank's executive officer of business banking and acting executive officer of retail banking services, said Northern Namibia remained the country’s most active property market in 2025.  He cautioned that shortages of especially serviced land are constraining delivery, urging…

Staff Writer Trustco Group Holdings Limited says its legal disputes with Helios Oryx Limited and the Namibia Revenue Agency (NamRA) remain unresolved. In an update to shareholders, the company said both matters, first disclosed in its 2023 financial statements, are still before the courts or under review. Trustco said the Helios case is ongoing and subject to further legal processes. A British court earlier ordered Trustco to pay about N$371 million to Helios. The judgement was later allowed to be enforced in Namibia. Trustco has appealed the ruling. The company stated that legal channels are still handling related proceedings and…

Staff Writer MTC Namibia has launched four LTE network sites at Rössing Uranium Limited to improve connectivity at the mine. The sites were installed at the request of Rössing to address areas with weak or no network coverage. The project introduces four LTE sites across the mine to provide mobile voice and high-speed data services in key operational areas. The network is designed to support communication in an environment where reliable connectivity is needed for safety and daily operations. MTC managing director Licky Erastus said the project improves how teams work on site. “This project is about improving how people…

Chamwe Kaira  Global demand for uranium is rising as countries expand nuclear power to meet growing energy needs, according to data presented by Paladin Energy, which owns the Langer Heinrich Mine in the Erongo region. The data shows that demand is supported by existing nuclear reactors, new plants under construction and the extension of older facilities, especially in major economies such as the United States. Momentum is expected to grow following commitments made at COP28 and COP29, where 38 countries, including the United States, Canada, the United Kingdom and France, pledged to triple nuclear capacity by 2050. Policy measures in…

Chamwe Kaira  Deep Yellow Limited completed a reverse circulation drilling program at its Tinkas Prospect in Namibia during the March 2026 quarter, confirming the presence of uranium mineralisation. The Tinkas Prospect lies about 8 km north-west of the company’s Tumas Project and forms part of its exploration efforts to expand uranium resources in the area. Drilling started on 18 February and ended on 18 March.  The programme included 133 drill holes covering 1,363 metres. Drilling was carried out on 100-metre line spacing with 100-metre intervals between holes. The company said results confirmed uranium mineralisation in calcretised palaeochannel sediments and in…

Staff Writer  The chief executive officer of the Namibia Airports Company (NAC), Bisey /Uirab says aviation remains a key driver of economic growth, regional integration and global connectivity across Africa. He made the remarks at Aviation Week Africa 2026 in Windhoek, held under the theme “Linking Africa: Partners for Growth". /Uirab said aviation supports trade, tourism and job creation and helps connect African economies to global markets. He said Africa’s size, dispersed populations and natural barriers make air transport important for moving people, goods and services. Airports, he said, form the backbone of the aviation system. They connect countries within…

Staff Writer  The Bank of Namibia (BoN) has announced changes to its senior leadership, including promotions and new role assignments. The changes follow the recent appointment of Nicholas Mukasa as deputy governor and the move of Florette Nakusera to the Macro-Economic and Financial Management Institute of Eastern and Southern Africa. BoN said it is taking a structured approach to leadership changes to strengthen its operations. “This approach aims to preserve institutional knowledge while developing well-rounded central bankers with cross-functional expertise. In doing so, the bank mitigates concentration risk, strengthens succession planning, and enhances institutional versatility,” BoN said. Moudi Hangula has…

Chamwe Kaira  FlyNamibia says about 67% of its operating costs are price-driven and remain outside its control. The airline said it is effectively a price taker on key inputs such as fuel and other charges. The response follows public concern over ticket prices for flights to Ondangwa.  On Wednesday, works and transport minister Veikko Nekundi said he has given the airline six months to reduce fares. He said a flight to Ondangwa costs more than N$9 000, while a flight to Cape Town is about half that price. Nekundi warned that the government may step in and regulate ticket prices…

Chamwe Kaira  Clicks Group says its ClubCard members, including those in Namibia, earned N$527 million in cashback over the six months to 28 February 2026. The group reported this in its unaudited interim results. Active ClubCard membership grew by 800 000 to 12.9 million. Members contributed 83.7% of total sales. During the period, the group opened its 1000th store, bringing the total to 1003 outlets. Its pharmacy network increased to 795 stores. Group turnover rose by 7.4% to N$24.9 billion. Retail turnover, which includes Clicks, UniCare, The Body Shop and Sorbet stores, increased by 5.4%. Comparable store turnover grew by…