Observer Money

Chamwe Kaira The Chamber of Mines of Namibia says gold prices are expected to remain supportive, with levels forecast to stay high by historical standards. “This should sustain strong margins at operating mines and encourage further investment in mine-life extensions and new project development, reinforcing gold’s role as a key non-diamond contributor to export earnings and government revenue,” the chamber says in its mining update for November and December 2025. The chamber says copper and tin are emerging as potential upside commodities. Copper demand is supported by global electrification, renewable energy investment and infrastructure expansion.  Tin continues to benefit from…

Chamwe Kaira The Road Fund Administration (RFA) says it faces a funding shortfall of N$3.6 billion under its Integrated Strategic Business Plan (ISBP) for the 2024–2029 period, a gap that rises to N$15.3 billion over five years. The ISBP sets out a plan to gradually increase funding for national and urban road maintenance.  RFA says this will be supported by capacity-building efforts within the Roads Authority and municipalities.  It also notes that traffic law enforcement should be funded through public allocations to keep it independent of Road User Charges (RUCS) fluctuations. The RFA says the ISBP extends its internal business…

Staff Writer Shoprite Group reported higher sales for the six months ended 28 December 2025, with merchandise sales from continuing operations rising 7.2% to about N$136.8 billion. This compares with restated sales of N$127.6 billion in the same period last year. The increase represents an extra N$9.2 billion in sales during the interim period. The group’s Supermarkets South Africa segment contributed most of the growth.  The segment accounted for 84.3% of total group sales and recorded sales growth of 7.1%, adding N$7.7 billion over six months. The group said its pricing approach continued to support affordability. Internal selling price inflation…

Staff Writer MTC Maris has signed an agreement with Kazang to expand access to mobile money services across Namibia, with a focus on underserved and hard-to-reach communities. Kazang brings a national network of more than 5 500 agents.  This network gives Maris wider reach in urban centres, informal settlements and remote rural areas. MTC Maris executive director Kayembe Ilunga said the partnership supports Maris’ goal of full financial inclusion. “Through this partnership, we will drive and accelerate our core mandate of ensuring that every Namibian, regardless of location or economic status, can access essential financial services through a trusted local…

Staff Writer The Namibia Investment Promotion and Development Board has identified the Namibia Berries Blueberry Project as a driver of agricultural diversification, rural development, and job creation in the Kavango East Region. The project is located in Divundu and is being developed by Loxworth Capital, with facilitation by NIPDB in partnership with government ministries, including the Ministry of Urban and Rural Development.  It is the largest blueberry farming investment currently underway in Namibia. About N$400 million has been invested so far. Total planned capital expenditure is estimated at N$1.5 billion over seven years. The investment is expected to support long-term…

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector in 2026 remains positive and optimistic, despite ongoing global economic uncertainty. The chamber said demand fundamentals for key commodities remain supportive.  Gold prices are forecast by some analysts to exceed US$5 200 per troy ounce, which could strengthen revenues and boost investment in the gold sector. Uranium demand is expected to increase further as more nuclear reactors come online worldwide.  Copper and tin are also set to benefit from steady demand linked to the global energy transition, supporting exploration and development activity in Namibia. …

Staff Writer Trustco Group Holdings Limited has issued a quarterly update to shareholders on matters linked to the suspension of its shares, outlining progress on its audit process and engagements with regulators. The group referred shareholders to its announcement of 15 October 2025, in which it confirmed that the Johannesburg Stock Exchange (JSE) had indicated it had no objection to Trustco appointing two separate audit firms.  Under this arrangement, a South African audit firm will work alongside the already appointed associated Namibian audit firm to audit the group’s annual financial statements. Trustco said this approach will result in two separate…

Chamwe Kaira Simonis Storm says credit and liquidity data for December 2025 show that monetary easing is continuing to filter through to the real economy, although at a measured and uneven pace as once-off liquidity effects linked to the Eurobond redemption fade. Private sector credit growth eased slightly to 4.4% year on year in December 2025, down from 4.5% in November.  This points to a gradual loss of momentum as the year came to an end. Despite the slowdown, Simonis Storm said credit growth remains well above the weak levels seen in 2023 and early 2024. This suggests an improvement…

Chamwe Kaira The Namibian Securities Exchange (NSX) overall index closed higher in the week ended 30 January 2026, rising 0.85% to 2 259.63 points from 2 240.49 the previous week, supported by gains across several sectors. The NSX Local Index also edged up, increasing 0.15% to 811.16 points. The index delivered an actual dividend yield of 8.54% and has shown limited movement since December 2025. In contrast, the JSE all share index declined over the same period. The index fell 1.83% week on week to 120 046 points from 122 281. Despite the weekly drop, it remained 3.64% above its…

Staff Writer Pepkor Holdings Limited reported a 12.9% increase in group revenue from continuing operations to N$29.9 billion for the three months ended 31 December 2025.  The growth was supported by acquisitions, strong credit growth, and improved trading across several divisions. Excluding acquisitions completed during 2025, group revenue increased by 8.3%.  Group sales rose by 10.6% for the quarter, or 5.2% excluding acquisitions, while like-for-like sales increased by 3.0%. In Southern Africa, excluding PEP Africa and Avenida, like-for-like sales grew by 2%. This followed a strong comparison base of 9.6% growth in the same quarter last year. Outside Southern Africa,…