Observer Money

Some of the large coloured diamonds that have brought in multimillion-dollar prices at auction in recent years.  “There have been fewer super-high-end sales in the past few years than what you saw 10 years ago, and that is just a statement of fact,” says Quig Bruning, Sotheby’s head of jewellery for the Americas and for Europe, the Middle East and Africa (EMEA). The reasons for the drop vary, from fewer elite buyers and a dearth of “wow” stones to collection hoarding, oversaturation, and a growing knowledge of prices.  However, the number of exceptional blue, pink and yellow diamonds on offer…

Staff Writer The fourth edition of the Namibia Oil and Gas Conference and Exhibition (NOGC2026) will take place in Windhoek from 19 to 21 August, with organisers launching the event brochure ahead of the conference. Since it started in 2023, the event has grown into a key platform for Namibia’s oil and gas sector, focusing on local participation, skills development and industry access. NOGC2026 is expected to attract more than 4 000 participants, over 150 speakers and 100 exhibitors. Delegates from more than 40 countries are expected to attend. The programme will include sessions on investment, local content, job creation,…

Chamwe Kaira Namibia’s economy grew by 1.7% in 2025, reflecting a slowdown caused by contractions in key sectors. Simonis Storm said the figure fell short of both market expectations and its own 3.0% projection, citing “the severity of the diamond sector contraction, the depth of the livestock farming reversal, and the steeper-than-expected decline in gross fixed capital formation". Growth started at 2.8% in the first quarter but weakened during the year before a slight recovery in the third quarter, resulting in a lower annual outcome. The firm said policy support and early credit growth signals show that a recovery is…

Chamwe Kaira Early construction works at the Etango Uranium Project are progressing on schedule and within budget, with Bannerman Energy reporting steady progress across infrastructure and engineering activities. The company said site activity has increased, with more than 560 contractor personnel deployed and over 500 000 lost-time injury-free hours recorded. The project maintains a 17-year LTI-free safety record. Bulk earthworks are about 66.5% complete and remain on track. Work includes the development of heap leach pads, associated ponds and wet plant terraces.  Blasting, crushing and screening of heap leach drainage aggregate have reached about 24% of total requirements and meet…

The City of Windhoek is implementing a large-scale planning and formalisation process to address the shortage of serviced land as informal settlements continue to grow. Data from the Namibia Statistics Agency (NSA) and the Ministry of Urban and Rural Development shows there are 419 informal settlements across 57 local authorities in the country, with 150 located in Windhoek. A total of 606 435 people, representing 176 708 households, live in informal settlements nationwide. Of these, 213 234 people, or 67 077 households, are in Windhoek. The municipality said the formalisation process follows statutory town planning, environmental management, land surveying and…

Staff Writer The Namibia Chamber of Commerce and Industry (NCCI) has elected a new leadership team at its Annual General Meeting in Windhoek. Vetumbuavi Mungunda takes over as president from Bisey /Uirab, who remains on the board. Leake Hangala continues as an honorary director. In his first remarks, Mungunda acknowledged past leadership and said directors are custodians responsible for strengthening the institution to support the economy. The new board will serve a two-year term. Patty Karuaihe-Martin is the first vice president and Tarah Shaanika is the second vice president. Other members are Amalia Schmidt, Bisey /Uirab, Brent Eiseb, Caroline Mswabi,…

Staff Writer The Bank of Namibia, in collaboration with the Payments Association of Namibia and the payments industry, has launched the National Payment System Vision and Strategy 2026–2030 under the theme “Inclusive Payments, Shared Prosperity: Charting the Next Era". The strategy builds on progress made under the previous framework, which focused on modernising the payments system. Developments include regulatory reforms, wider use of digital payment services, improved interoperability across platforms and the adoption of standards such as ISO 20022, open banking and NAMQR code. These changes have supported growth in electronic funds transfers, card payments and e-money platforms. The new…

Staff Writer Two operating companies within the Ohlthaver & List Group (O&L) have received recognition at the SADC Quality Awards 2025/2026. Hartlief and O&L Leisure were awarded certificates of recognition at a ceremony held in Johannesburg on 25 March 2026.  Hartlief was recognised in Category 4: Exporter of the Year (Large Enterprise), while O&L Leisure received recognition in Category 3: Service of the Year (Large Enterprise). The awards were accepted by Beverly Jandrell, who represented both companies at the event. O&L executive chairman Sven Thieme said the recognition reflects the group’s focus on operations and its Vision 2029 strategy.  He…

Staff Writer The National Petroleum Corporation of Namibia (Namcor), through its upstream unit Namcor Exploration and Production, has welcomed the start of production testing at the Kavango West-1X discovery well in PEL 73, onshore Namibia. PEL 73 is operated by ReconAfrica with a 70% stake, alongside BW Kudu with 20% and NAMCOR E&P with 10%. The joint venture is focused on developing the Kavango Basin. Regulatory approvals have been secured and work crews are on site preparing the well for testing. The Kavango West-1X well has shown encouraging data. Updated analysis indicates about 75 metres of net hydrocarbon pay in…

Staff Writer Old Mutual Namibia has appointed Sepo Haihambo as managing director designate for the Old Mutual Investment Group (OMIGNAM), effective 1 April 2026. Haihambo has more than 20 years of experience in banking, investment management and financial services. She previously served as chief executive officer for Commercial at First National Bank Namibia and has held senior leadership and board roles in the financial sector. She is a Harvard Business School alumnus. The appointment forms part of OMIGNAM’s leadership and succession planning to support investment delivery and growth. Group chief executive officer Tassius Chigariro said, “Sepo is a highly respected…