Observer Money

Staff Writer The African Peer Review Mechanism (APRM) Technical Support Mission on international credit ratings has started a three-day visit to Namibia aimed at strengthening the country’s ability to engage with global credit rating agencies. The mission began with meetings with National Planning Commission (NPC) director-general Kaire Mbuende and APRM focal point and chief executive officer ambassador Lineekela Mboti.  The visit forms part of an African Union initiative to support member states in managing the global credit rating system. Led by APRM lead expert researcher on international credit ratings Misheck Mutize, the mission will assess challenges Namibia faces during the…

Staff Writer The Ohlthaver & List Group has retained its great place to work accreditation for the 2026/27 cycle after recording a trust index score of 69%. The accreditation is awarded by the Great Place To Work Institute and is based on anonymous employee feedback on workplace culture. O&L executive chairman Sven Thieme said the result reflects a collective effort across the group and aligns with its Vision 2029 goal. “While we celebrate our progress, we remain intentional about improvement. Our goal is to ensure that O&L remains an employer of choice that contributes meaningfully to the future of Namibia…

Staff Writer Old Mutual Namibia has committed N$150 000 to the Cirrus Capital Investment Conference 2026 held in Swakopmund. The contribution was made by Old Mutual Wealth, Old Mutual Investment Group Namibia, Old Mutual Corporate Segment, and the Group Marketing, Public Affairs, and Sustainability departments. The conference, hosted by Cirrus Capital under the theme “Why Namibia”, brought together investors, financial institutions, policymakers and business leaders from Namibia and the region. Discussions focused on the country’s economic outlook, key sectors and investment opportunities. As part of its involvement, Old Mutual Namibia hosted investors and stakeholders at a cocktail networking event held…

Staff Writer A funding commitment of more than US$1.1 billion by the European Investment Bank is set to support renewable energy projects across Africa, but experts say it addresses only part of a wider electricity gap affecting millions. More than 600 million people on the continent still lack access to electricity, a shortage that continues to limit basic services and economic activity. Dr Tebogo Kupi from the Centre for Applied Radiation Science and Technology at North-West University said the investment is important but not enough on its own. “This level of investment is important in catalysing renewable energy development, particularly…

Chamwe Kaira The country's planned new surveillance infrastructure for air navigation services, including primary and secondary radar systems, an air traffic management system and wide multilateration, will cost about N$500 million, Namibia Civil Aviation Authority (NCAA) executive director Toska Sem has revealed. Sem said civil aviation is a key enabler in the aviation industry, which requires Namibia to meet international standards and requirements. She said Namibia has achieved a safety audit score above 75%, exceeding the 60% benchmark set by the African Union. Sem spoke during the third edition of Aviation Week Africa held in Windhoek last week, where high-level…

Chamwe Kaira The Namibian Securities Exchange’s (NSX) overall index closed the week ended 24 April 2026 higher, gaining 0.87% to 2 295.09 points from 2 326.15 points in the previous trading session, while the local index edged up by 0.01% to a record 828.43 points. The latest performance brings the overall index's gain to 5.74% since December 2025, while the local index is up 2.42% over the same period, showing steady support for domestic counters despite mixed sector movements. The local index close at 828.43 points marks a new high for 2026. Among sectors, basic materials led the gains for…

Staff Writer Nearly 42% of Namibia’s population lives in informal settlements, amounting to close to one million people.  A coalition of partners, including FNB Namibia, the Pupkewitz Foundation, Ohorongo Cement and the Shack Dwellers Federation of Namibia (SDFN), has reaffirmed its commitment to addressing housing challenges through continued support for the federation. Over the past decade, the partners have invested N$26.5 million into the partnership. Since 2016, the initiative has delivered more than 533 homes, with more planned for the coming year.  Thousands more people have gained access to land, services and housing opportunities. The partners recently handed over a…

Staff Writer Nedbank Namibia has increased its investment in Lüderitz as the southern coastal town gains importance due to planned growth in energy, logistics and export industries. The bank recently unveiled its upgraded Lüderitz branch under its nationwide project imagine modernisation programme.  The upgrade aims to improve banking infrastructure and client services in areas expected to see more commercial activity. Lüderitz is being positioned as a key industrial hub following developments linked to offshore oil and gas, green hydrogen and logistics centred around the Port of Lüderitz. Plans to expand the port at Angra Point, supported by international partners including…

Staff Writer More than 200 delegates gathered in Windhoek this week for the upstream oil and gas suppliers’ workshop, a two-day event aimed at helping Namibian small and medium-sized enterprises take part in the country’s growing upstream petroleum sector. The workshop was hosted by FNB Namibia, RMB Namibia, Petrofund and the Namibia Investment Promotion and Development Board. It brought together stakeholders from the financial sector, government, local businesses and international oil and gas operators and service providers. The event focused on helping SMEs understand Namibia’s upstream oil and gas industry while creating space for networking, supplier development and engagement across…

Christie’s will offer the Ocean Dream, the largest existing blue-green diamond, at its upcoming Geneva jewellery sale, expecting it will fetch up to CHF 10 million (US$12.8 million). Set in a ring, the triangular-cut, 5.50-carat, fancy-vivid-blue-green, SI1-clarity, type IIa stone comes with an additional mount containing sculpted rock crystal, round diamonds and pink diamonds, Christie’s said Friday. The polished stone, the largest vivid-blue-green diamond the Gemological Institute of America (GIA) has ever certified, originated from an 11.70-carat rough found in Central Africa. The May 13 Magnificent Jewels sale is only the second time the Ocean Dream has appeared at auction.…