Observer Money

Martin Endjala For the year ended 31 March 2024, the Namibia Financial Institutions Supervisory Authority’s (NAMFISA) total income stood at N$279.5 million while the agency’s total expenditures were N$254.7 million. Other comprehensive income amounted to N$12.8 million, resulting in a total surplus of N$37.7 million, compared with a budgeted deficit of N$16.6 million. Kenneth Matomola, the agency's chief executive officer, announced these figures while he launched its 2024 Annual Report on Thursday in Windhoek. “As of 31 March 2024, the Group’s total assets increased by N$34.4 million (11.3%) to N$339 million. This increase is attributable to an increase of N$25.1…

CHAMWE KAIRA Outgoing President and CEO of Osino Resources, Heye Daun has said as a small exploration company with no income, the company was dependent on shareholder funding and equity that came from investors. The company’s flagship is the Twin Hills Gold Project in the Erongo Region. Daun became an entrepreneur in 2010, when he acquired the Otjikoto project. This led to being introduced to Canadian capital markets. He raised money on the Canadian markets and later sold the Otjikoto project to B2Gold of Canada. This proved to Daun that gold mining in Namibia could be successful and contribute to…

Namibia’s tourism sector exhibited resilience and steady growth in August, bolstered by a diverse mix of both regional and international visitors. European tourists, in particular, were a driving force, with their share of international arrivals increasing to 70.28%, up from 66.33% in July 2024. This upward trend underscores Namibia’s growing appeal as a leisure destination for European travellers, emphasising the importance of tailored marketing strategies aimed at this key demographic. The continued dominance of holiday and leisure travel presents opportunities for further infrastructure development to enhance the visitor experience and maintain positive momentum. However, as a significant portion of Namibia’s…