Observer Money

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for gold has strengthened as the country prepares to accumulate refined gold as part of its foreign reserves.  This follows a memorandum of understanding between the Bank of Namibia (BoN) and QKR Navachab Gold Mine. Under the agreement, locally mined gold will be refined at the Rand Refinery in South Africa before being purchased by the central bank.  The Chamber says this introduces a new source of institutional demand and reinforces the role of domestic gold production. Gold prices remained strong in February 2026, averaging US$5,019.97 per troy ounce. …

Chamwe Kaira Sanlam Life Insurance Limited has announced plans to issue notes under its ZAR12.5 billion subordinated note programme, in line with its updated programme memorandum. The programme allows the insurer to borrow up to N$12.5 billion from investors by issuing debt securities known as notes. The programme was first set up in July 2006 and has been updated in 2013, 2016 and 2021. It allows Sanlam Life to raise funding over time by issuing subordinated notes on a continuous basis.  The notes may be issued through one or more appointed dealers, depending on each transaction. Details of each issuance…

Chamwe Kaira Ninety One has reported an increase in assets under management to about N$4.1 trillion as of 31 March 2026. This is up from N$3.1 trillion a year earlier and N$3.8 trillion at the end of December 2025. The latest figure includes about N$395 billion from the transfer of Sanlam Investment Management’s active asset management business in South Africa. The transfer was completed on 1 February. Ninety One is expected to publish its full-year results for the period ended 31 March on 3 June. The transaction forms part of a partnership between Ninety One and Sanlam. The deal was…

Staff Writer Capricorn Foundation and its partners have launched the Agripreneurial Innovation Challenge. This is a national initiative aimed at supporting job creation and innovation in Namibia’s agriculture sector. The challenge is run in partnership with Basecamp Business Incubator, Network for Global Innovation and the United Nations Industrial Development Organization. The programme provides a platform for early-stage innovators and entrepreneurs to test ideas.  It also offers mentorship and support to develop solutions that address unemployment, food security and sustainability. The challenge will run for four months. It combines learning, mentorship and practical support. It aims to equip participants with skills…

Chamwe Kaira  Sintana Energy Incorporated plans to list on the Namibia Securities Exchange (NSX) as it moves to open investment opportunities to local investors. The company has appointed IJG Securities as its sponsor and corporate advisor. It has also started discussions with the exchange to be admitted for trading. Once listed, the company plans to explore ways to improve share liquidity for Namibian investors. The director of Sintana and chairman of Custos Energy Knowledge Katti said the listing is part of a long-term goal to increase local ownership in the energy sector. “It has always been my vision to see…

Chamwe Kaira  Ongwe Minerals Incorporated has completed all requirements for a dual listing on the Namibia Securities Exchange (NSX), with trading set to begin on Wednesday. The company is a Canadian-listed gold exploration firm focused on finding and developing gold deposits in Namibia. Its primary listing will remain on the TSX Venture Exchange. Ongwe Minerals chief executive officer Dave Underwood said the listing strengthens the company’s presence in Namibia’s capital markets. “The dual listing of Ongwe on the Namibian Securities Exchange is a very important step in building Ongwe’s local Namibian capital markets presence. Ongwe is fortunate to have a…

Chamwe Kaira  The Bank of Namibia (BoN) says agriculture, forestry and fishing are expected to recover during the forecast period, supported by improved rainfall and better crop production. The central bank said in its March 2026 economic outlook that livestock production will recover more slowly.  This is due to herd rebuilding after earlier drought conditions forced farmers to reduce stock. The mining sector is expected to show mixed performance. Diamond mining is projected to remain under pressure due to weak global demand and lower production.  Uranium production is expected to stay high, supported by strong demand and prices, although growth…

Staff Writer Namibia’s listed banking sector is showing mixed performance, with some banks growing while others face pressure, according to Simonis Storm Securities. FirstRand Namibia reported headline earnings of N$1.066 billion for the first half of FY2026.  Return on equity reached 30.2%. Total assets declined by 2.6% after the bank exited its asset and liability management hedge. Key indicators improved. The net interest margin rose to 6.3%. The credit loss ratio improved to 0.4%. Non-performing loans dropped to 4.3%. The firm said the performance was supported by changes in funding. Franchise deposits increased by 9.4%.  Institutional funding fell by 26.7%.…

Staff Writer Market indices in Namibia and South Africa recovered on Tuesday after losses in the previous session, data from the Namibian Securities Exchange shows. The JSE all share index rose 1.10% to close at 119,795.83 points, recovering from a 0.45% decline recorded on 13 April. The index remains 3.42% higher than its level in December 2025, although still below its 2026 high. In Namibia, the overall index increased by 1.29% to 2,290.09 points, reversing a 0.15% drop in the previous session. The index has gained 6.95% since December 2025. The Local Index showed little movement, rising 0.06% to 827.78…

Chamwe Kaira  The Chamber of Mines of Namibia says the scale of the mining sector contraction reported by the Namibia Statistics Agency (NSA) may be overstated. NSA reported that mining and quarrying contracted by 9.4% in 2025. The decline was driven by a 19.4% drop in diamond mining, along with contractions of 12.2% in metal ores and 14.5% in other mining activities. The Chamber said this does not fully reflect production trends. Gold output increased by about 5% in 2025, while uranium production rose by around 23%. These increases would usually offset declines in diamonds. Metal ores, including gold and…