Observer Money

Staff Writer The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have signed an updated memorandum of agreement to strengthen cooperation in regulating and supervising the financial sector. The agreement sets out how the two regulators will share information, conduct joint supervision and coordinate oversight of banking institutions, financial institutions and intermediaries. At the same event, the institutions also formalised the terms of reference for a joint technical working group to support the development of financial technology in Namibia. The agreement provides for the exchange of information on key regulatory issues affecting institutions and groups. It…

Staff Writer Proflight Zambia has rolled out cashless payments across its operations, a move it says supports faster and safer transactions. The airline, which operates flights to Windhoek, introduced the system in November 2025 as part of a shift towards digital payments. Director of flight operations captain Josias Walubita said the change benefits both the airline and its customers.  “Going cashless strengthens the airline’s operations, enhances service excellence, and maintains a secure operating environment. At the same time, our customers enjoy greater convenience when paying for flights and services, with Proflight Zambia accepting card payments as well as mobile money…

De Beers has made one of the deepest ever cuts to its group of handpicked diamond buyers as the former monopoly grapples with a prolonged crisis roiling the industry, people with knowledge of the matter said. The company informed its customers, known as sightholders, on Friday whether they’d kept that status in a series of letters and follow-up calls, the people said, asking not to be identified as discussing confidential information. De Beers cut the number of buyers to between 45 and 50 from around 70, they said. De Beers declined to comment. The storied diamond miner has been mulling…

Wandile Sihlobo  As the conflict in the Middle East continues, the farming community in South Africa is increasingly worried about rising input costs, particularly fertiliser and fuel. On both, the issue is not that South Africa has a supply constraint but fear about the path ahead. Others are also worried about the impact of these developments on consumer food prices. What follows are broad views on how we should approach these issues. First, we don’t have a fertiliser supply issue for now, but prices are rising due to fears of global supply disruptions. The conflict in the Middle East is…

Chamwe Kaira  Oceana Group says its horse mackerel business delivered improved performance in the five months ended 22 February, despite lower catch rates in Namibia and a stronger rand. The company said the gains were driven by lower fuel costs and higher US dollar sales prices.  This was supported by a better product mix and strong market demand. “Additionally, improved results from the horse mackerel businesses in South Africa and Namibia enhanced the overall performance of the wild-caught seafood segment.” The group expects to release its interim results for the six months ending 31 March 2026 on or about 21…

Staff Writer  The Mariental Extension 6 Affordable Housing Development has been launched, marking a new phase in efforts to expand access to serviced housing in the Hardap region. The launch took place in Mariental and was officiated by vice president Lucia Witbooi, alongside regional and local leaders, development partners and community stakeholders. The project will service 311 residential plots, with 87 already completed. These include single residential and general residential erven. The development aims to meet growing demand for affordable housing in the town. Old Mutual Investment Group Namibia (OMIGNAM) is part of the project as a financier through the…

Chamwe Kaira  PSG Financial Services expects earnings for the year ended 28 February 2026 to rise by more than 20%, driven by growth in headline, recurring headline and attributable earnings. In a trading statement released on Monday, the South African-listed group said it had reached a reasonable degree of certainty on its results. Headline and recurring headline earnings per share are expected to be between 133.5 cents and 136.5 cents. This reflects an increase of 32% to 35% from 101.1 cents reported a year earlier. Recurring headline earnings, excluding amortisation, are expected to range between 139.7 cents and 142.9 cents…

Staff Writer Westair Group will introduce a fuel surcharge across its aviation operations from 23 March 2026. The surcharge will apply to services under FlyNamibia, FlyNamibia Safari and Westair Charters.  The company said the move comes in response to rising fuel costs and supply pressures linked to ongoing conflict in the Middle East. Westair said fuel remains one of the largest operating costs in aviation and recent increases have placed pressure on the industry.  It said the surcharge is aimed at maintaining operations, route networks and service reliability. “We remain committed to connecting Namibia and supporting the country’s tourism and…

Staff Writer  Anglo American plc will delist its ordinary shares from the SIX Swiss Exchange in June after receiving approval from SIX Exchange Regulation. The company said trading in its 1.18 billion ordinary shares will stop on 25 June 2026, with the delisting taking effect on 26 June 2026. It said the move forms part of a review of its global share listings linked to its proposed merger with Teck Resources. The decision was also influenced by low trading volumes on the Swiss exchange and the cost of maintaining multiple listings. Anglo American said that once the delisting takes effect,…

Staff Writer Owning a home remains out of reach for many Namibians as property prices continue to rise. Entry-level apartments in Windhoek start at about N$525 000, while modest houses can reach close to N$2 million.  High deposits and transfer costs have made it harder for young professionals and middle-income earners to enter the market. Nedbank Namibia has launched its “Unlock Your First Home” initiative to address this challenge. The bank has set aside a lending portfolio for first-time homebuyers as part of efforts to improve access to housing. Nedbank Namibia head of lending, Chane Isaaks, said the aim is…