Observer Money

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…

Chamwe Kaira  Namibia and other Common Monetary Area (CMA) countries' segments contributed 6% of total sales of building materials retailer Cashbuild for the third quarter of its 2026 financial year. The segment grew by 4% and maintained similar growth levels year to date. Growth came from existing stores, with no contribution from new outlets. Cashbuild said it recorded modest growth in its latest operating segment results. Total sales grew by 3%. New stores contributed 2%, while existing stores added 1%. Year-to-date growth stood at 5%, supported by 3% from new stores and 2% from existing outlets. South Africa remained the…

Chamwe Kaira  Works and transport minister Veikko Nekundi says the government plans to build a third terminal at Hosea Kutako International Airport (HKIA) as part of efforts to expand aviation infrastructure. He made the remarks at the opening of Aviation Week Africa 2026, where he said aviation is a key part of Namibia’s development plans. Nekundi said the government is also working on reviving the national airline, Namibia Air, to improve connectivity. He said Namibia is investing in aviation systems, including radar, air traffic management and navigation infrastructure to support safer and more efficient operations. The minister said the government…

Staff Writer  The Namibia Revenue Agency (NamRA) has registered more than one million taxpayers for the 2024/25 financial year. By 31 March 2025, NamRA had registered 1 009 926 taxpayers.  Of these, 575 136 were active e-filers on the ITAS platform. The total number of active tax accounts stood at 1 048 918 during the period. Revenue collection also increased. By the end of March 2025, NamRA recorded net revenue collections of N$88.6 billion, exceeding its target of N$85.3 billion.  After tax refunds of N$10.4 billion, total net revenue reached about N$98.9 billion. This reflects a 15% increase compared to…

Chamwe Kaira  The Namibia Revenue Agency (NamRA) intercepted illicit drugs worth about N$26.9 million during the 2024/25 financial year. Cannabis made up the largest share of seizures. Authorities confiscated 345 015 kg of pure cannabis valued at about N$17.25 million.  They also seized 20 965 kg of cannabis (skunk) worth N$1.05 million and 10 910 kg of cannabis, known as “Majat”, valued at N$109 100. Authorities also recovered 8 830 kg of cocaine valued at about N$4.42 million. Methamphetamine seizures totalled 2 635 kg, with an estimated value of over N$1.32 million. Tablet-based drugs were also seized. Authorities confiscated 2…

Chamwe Kaira  Namibia is hosting Aviation Week Africa 2026 this week. The conference is expected to strengthen its role in the continent’s aviation sector. The chief executive officer and founder of Aviation Week Africa Network, Hellen Ngwira Mwamba, said hosting the event places Namibia at an important point in advancing Africa’s air connectivity. She said the event gives Namibia a platform to showcase its aviation infrastructure, policies and the wider aviation system. “This integrated approach reflects the reality that aviation development is not driven by one segment alone, but by coordinated collaboration across the full value chain,” she said. The…

Chamwe Kaira  The Namibia Revenue Agency (NamRA) spent N$382.6 million on goods and services during the 2024/25 financial year. Procurement data shows that multinational companies received the largest share by value.  Over N$178.2 million was awarded through four contracts. Local large companies secured N$82.1 million across 374 contracts. Small and medium-sized enterprises received N$49.7 million through 312 awards.  Public entities were allocated N$2.83 million from 61 transactions. In total, NamRA issued 750 procurement awards during the year. Central Namibia received the largest share. It accounted for N$122 million across 588 awards, the highest in both value and number of contracts.…

Staff Writer Nedbank Namibia has received the 2025 Straight Through Processing (STP) award from Commerzbank AG. The award recognises the bank’s performance in handling cross-border payments. The Commerzbank STP award is granted each year to a small number of correspondent banking partners that meet global standards in processing payments and financial transfers. The assessment focuses on the accuracy, completeness and formatting of payment data. These factors allow transactions to be processed automatically without manual intervention. Straight-through processing is a key measure of efficiency in international banking.  Despite improvements in payment systems, global STP rates for cross-border payments remain low, at…