Observer Money

CHAMWE KAIRA Namport has closed tenders for new berths and upgrades at Walvis Bay’s South Port to support the development of the Venus oil field, with construction scheduled to start in early 2027. In response to questions by Observer Money, the Namibian Ports Authority said that bids for the project had closed, with evaluation and contract awards expected to follow soon. The project forms part of a phased expansion programme aimed at preparing Walvis Bay and Lüderitz for increased oil and gas activity, with Namport saying the assessment that the two ports can accommodate only two oil developers reflects their…

Staff Writer Tourism and conservation company, ultimate.earth is investing N$85 million in a five-star boutique hotel in Swakopmund, with construction expected to create almost 200 temporary jobs and about 50 permanent positions once operational. The Bohlen, which will be developed in a heritage-protected building in central Swakopmund, began construction on 12 October and is scheduled to open in the fourth quarter of 2027. The company, formerly known as Ultimate Safaris, said the project had received approval from the Swakopmund Aesthetics Committee, the National Heritage Council and the Swakopmund municipality for its building plans. The development follows approval from the Namibia…

CHAMWE KAIRA  Namibian Securities Exchange-listed Elevate Uranium Ltd narrowed its net loss to N$72.8 million for the half-year ended 31 December 2025, compared with N$88.3 million in the corresponding period in 2024, following a reduction in operating expenses and an increase in revenue and other income. The uranium explorer reported total revenue and other income of N$7.24 million, up from N$1.88 million in the previous corresponding period. Interest income increased to N$5.28 million from N$1.86 million, while the company recognised N$1.19 million in government grants and N$583 500 in other income during the six-month period. Total operating expenses declined to…

Staff Writer  The Namibia Civil Aviation Authority (NCAA) has improved the country’s aviation safety oversight rating from 57.5% to 72.6% following a 2024 International Civil Aviation Organisation (ICAO) audit, according to the ministry of works and transport’s annual performance report. The improvement follows the ICAO Universal Safety Oversight Audit Programme Continuous Monitoring Approach (USOAP CMA) audit, which assessed Namibia’s compliance with international aviation safety standards and recommended practices. The report states that Namibia recorded its strongest performance in technical guidance, tools and safety information, which achieved 92.66%, while legislation scored 90.5%. No significant safety concerns were identified during the audit.…

Staff Writer Only 70 of the 1 564 applications submitted under the Equipment Aid Scheme (EAS) for the 2024/25 financial year were approved, according to the ministry of industries, mines and energy’s performance report. The scheme provides production machinery and equipment to micro, small and medium enterprises (MSMEs) to increase production capacity, improve product quality and competitiveness, create jobs and contribute to national economic growth. Under the Industrial Upgrading Modernisation Programme (IUMP) for the 2025/26 financial year, 36 applications were approved, with assistance amounting to N$3.2 million out of 461 applications received. The programme targets existing medium-level enterprises to improve…

Staff Writer  Airlines globally incurred US$24.5 billion in payment costs to process US$1.05 trillion in sales in 2025, a 10.4% increase in total costs versus 2023.  That far exceeds the overall growth in travel sales over the same period, which was up 7.7% from US$977 billion in 2023. The average cost per transaction was US$5 per passenger. In comparison, IATA forecasts that airlines will make a net profit of US$4.50 per passenger in 2026.   “The airline industry is hyper competitive, capital intensive and famously low margin. In such an environment every cost item needs to be looked at carefully. The…

CHAMWE KAIRA Namibia is ranked 14th in the 2026/27 report, while its personal freedom score is second among the 31 markets assessed, according to the RMB Where to Invest in Africa report. The report identifies stable democratic institutions, low perceived corruption and strong personal freedom as factors supporting Namibia’s investment resilience, while import dependence and deep income inequality remain key constraints. It says Namibia’s investment prospects will depend on its ability to commercialise offshore hydrocarbon discoveries and use any resulting economic benefits to diversify its production base, broaden government revenue and support wider social development. “Namibia has steadily gained ground…

CHAMWE KAIRA Oceana Group, which is listed on the Namibia Securities Exchange (NSX) expects headline earnings per share (HEPS) to increase by between 46% and 56% for the financial year ended 30 September 2026, driven by higher operating profit and lower interest costs. In a trading statement, the seafood company said HEPS is expected to range between 825 cents and 880 cents, compared with 564.8 cents recorded in the previous financial year. Earnings per share (EPS) are expected to increase by between 45% and 55%, reaching between 815 cents and 870 cents, up from 562.4 cents in the comparative period.…

CHAMWE KAIRA The deeds office registered and archived 25 177 title deeds and other deed documents during the 2025/26 financial year, while capturing 14 619 transfer and bond deed documents as part of efforts to digitise property records. According to the ministry of agriculture, fisheries, water and land reform’s annual performance report, a further 8 198 sectional titles were registered and filed during the financial year. The ministry collected N$4.1 million in revenue from providing stakeholders with information relating to immovable and movable properties. Under its land management programme, the ministry also bound and archived 529 volumes of registered deeds…

CHAMWE KAIRA  Elevate Uranium Limited is advancing uranium projects in Namibia as it works to develop its global resource portfolio of 161 million pounds (Mlb) of uranium oxide (U₃O₈), supported by a cash balance of about A$40 million and no debt. The Australian-listed company holds 112 Mlb of its total resource in Namibia, with its remaining 49 Mlb located in Australia. Elevate Uranium is progressing its projects using its patented U-pgrade technology, which is designed to remove waste minerals from near-surface calcrete uranium ores before leaching. According to the company, the process can reject more than 95% of non-uranium-bearing minerals…