Observer Money

Staff Writer McDermott and the Petroleum Training and Education Fund (Petrofund) have signed a Memorandum of Understanding (MoU) to collaborate on academic and industrial training initiatives in Namibia’s upstream oil and gas sector. The partnership will align with international standards to give Namibian students, job seekers, and service providers access to training, mentorship, and employment opportunities. It aims to build technical skills in engineering, fabrication, operations, and project management to prepare the local workforce for roles in the country’s growing offshore energy industry. “This MoU furthers our commitment to developing local content and building a sustainable oil and gas workforce…

Staff Writer De Beers Group has launched Desert Diamonds, its first new “beacon” in more than a decade, supported by the company’s largest marketing investment in over ten years.  A De Beers beacon is a celebration of natural diamonds presented through a jewellery concept that unites the industry around a central idea and inspires category-wide marketing efforts. First unveiled at the JCK Las Vegas Show earlier this year, Desert Diamonds draws inspiration from desert landscapes where many natural diamonds are found.  The collection celebrates a range of colours from warm whites to champagne tones and amber hues. It uses this…

Chamwe Kaira Former minister of finance, Iipumbu Shiimi, says the country's high household debt, especially among public servants, is fuelled by gaps in the law and weaknesses in the deduction code system. Shiimi explained that the payroll deduction management system (PDMS), meant to improve access to credit, has instead encouraged excessive borrowing as microlenders face little risk when repayments are automatically taken from salaries. “Consequently, many civil servants are left with little to no disposable income and increasing financial distress,” he said. Shiimi called for the speedy adoption of the consumer protection bill to place all microlenders under the Namibia…

Chamwe Kaira Reconnaissance Energy Africa (ReconAfrica) Ltd says drilling of the Kavango West 1X exploration well is progressing as planned. Brian Reinsborough, the company’s president and chief executive officer, said the final casing string has been set at a depth of about 2,300 metres, just above the targeted Otavi reservoir. “Currently, the well is drilling ahead into the Otavi carbonate reservoir, which is the primary target in the Damara Fold Belt. We anticipate drilling an extensive section of the potential reservoir, which will be followed by a full evaluation of the Otavi section. The Kavango West 1X well is testing…

Staff Writer Canadian-listed copper developer Koryx Copper Incorporated has made amendments to its management information circular ahead of a special shareholder meeting scheduled for 15 October. The company said the changes were required due to a labour dispute in British Columbia, which could delay regulatory approvals for its planned continuation and redomiciliation from Canada to Luxembourg. At the meeting, shareholders will vote on Koryx’s proposal to transfer its registered office and central administration to the Grand Duchy of Luxembourg, where it will operate as Koryx Copper S.A., a public limited company. The move is aimed at improving Koryx’s international corporate…

African companies raised over US$800 million in the third quarter of this year, marking a 21% increase compared to the same quarter in 2024. This growth was driven primarily by growth-stage funding, despite a decline in the number of deals.  This uptick in funding, following several quarters of decline since the 2021 funding bubble, reinforces predictions highlighted in our recently released Africa Venture Pulse Report, which indicates that 2025 funding is on track to surpass 2024 totals. Since peaking in 2022, overall deal activities, particularly deals between US$100 000 and US$1m, have been on a steady decline.  In contrast, very…

Chamwe Kaira Trading on the Namibian Stock Exchange’s (NSX) fixed income market was quiet on Monday, with only one deal recorded, according to NSX data. The government bond market remained largely unchanged, with yields stable across maturities. Economic indicators pointed to steady conditions as the country enters the final quarter of 2025. The only transaction involved the GC32 government bond, with N$10 million in nominal value traded at a yield of 9.31%. The bond, which matures in April 2032, closed unchanged at a price of 98.27. Other benchmark government bonds, ranging from the short-term GC25 to the long-term GC50, reported…

STAFF WRITER Launched in 2018, the Old Mutual Foundation’s Financial Education Face-to-Face Training programme introduced an innovative “animal behaviour” approach to simplify complex financial concepts. Since then, it has grown into one of Namibia’s leading financial literacy initiatives, empowering over 50 000 Namibians, from individuals and school communities to corporate teams, with practical skills to budget, save, reduce debt, and make informed financial decisions. Recognising that true understanding begins with clear communication, the Old Mutual Foundation has taken a bold step towards inclusivity and accessibility by expanding its Financial Education programme, previously delivered primarily in English, into six vernacular languages:…

Staff Writer With no specific laws regulating social media use in the workplace, many Namibian businesses face growing risks of data breaches and cyberattacks. From sharing client information on WhatsApp to clicking malicious links on Instagram, unregulated activity on these platforms exposes corporate networks to cybercriminals. The 2024 IBM Cost of a Data Breach report estimates the average global cost of a cybersecurity breach at US$4.9 million, showing the scale of damage cyber incidents can cause.  Criminals increasingly use platforms like LinkedIn, Facebook, and WhatsApp to deploy malware, steal credentials, and access sensitive data.  Weak IT oversight and unrestricted social…

Ester Kafidi Customer service is often measured by speed, efficiency, and satisfaction scores. But beneath the numbers and KPIs lies something far more human: the quiet power of being seen, heard, and understood. In a world increasingly automated, where chatbots handle questions and algorithms anticipate needs, the real heart of service isn’t just about solving problems. It’s about connection. It’s easy to think of customer service as a department, a function, or a role. But more than that, it’s a mindset: one that should live in every part of an organisation. It’s the receptionist who welcomes someone with genuine warmth,…