Observer Money

Staff Writer  Africa’s premier trade and investment event, the Intra-African Trade Fair (IATF), will now operate as an independent, permanent African institution with its headquarters in Harare, Zimbabwe.  The new entity, the Intra-African Trade Fair Company (IATFCO), was unveiled during IATF2025 in Algiers to make the fair sustainable, scalable and aligned to the African Continental Free Trade Area (AfCFTA). The decision followed a rigorous selection process and approval by the IATF Advisory Council.  IATF is held every two years and is co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat. Zimbabwe was selected as the host country from…

Chamwe Kaira The recently launched OM Bank, established in South Africa by the Old Mutual Group, has no immediate plans to expand into Namibia. Nawhal Foster, an official at OM Bank, told Observer Money that the new bank’s focus is on South Africa.  “At this stage, OM Bank is focused exclusively on establishing and deepening its presence within South Africa. We are not planning to launch in markets outside of South Africa at this time,” Foster said. The company said it has met the remaining section 17 conditions and received regulatory approval for the appointment of Clarence Nethengwe as chief…

Observer Money spoke to Savanna Beef Processors' chief executive officer, Ian Collard, about the growth of the company since its inception and future plans.  Collard started the job as chief executive officer of the company, starting on 13 January.  He is a qualified chartered accountant and has served on several boards, including the Namibian Grain Processors’ Association, Namibian Agronomic Board (NAB), and the Namibia Chamber of Commerce and Industry (NCCI). Savanna Beef has recently started producing beef at its facility in Okahandja.  In August, Savanna Beef completed its first trial slaughter at its new processing facility. The company has stated…

Chamwe Kaira Economic activity slowed in the second quarter of the year, recording 1.6% growth in real value added compared to 3.3% in the same period of 2024. In nominal terms, the size of the economy was estimated at N$64.8 billion, up from N$58.8 billion in the corresponding quarter of 2024. Statistician General and Namibia Statistics Agency (NSA) chief executive officer, Alex Shimuafeni, said the performance was mainly influenced by the tertiary industries, which grew by 3.9% compared to 5% a year earlier.  Growth in the sector was recorded in wholesale and retail trade (5.2% compared to 9.1%), education (5.6%…

Chamwe Kaira Paladin Energy, whose only operating mine is the Langer Heinrich in Namibia, has opened its share purchase plan (SPP) to shareholders with registered addresses in Australia or New Zealand, excluding those in the United States.  The company is listed in Australia and has a dual listing on the Namibian Stock Exchange (NSX). Eligible shareholders may apply for up to A$30,000 worth of new fully paid ordinary shares without broking or other transaction costs. The SPP offer closes on 9 October. Paladin is seeking to raise up to A$20 million. The SPP follows the company’s launch of a A$300…

Staff Writer  NamPower has commissioned and energised its new indoor 132/66/33 kV Sekelduin substation east of Swakopmund.  The project cost N$394 million and is the first fully digital substation on the African continent. The substation is fed from the Kuiseb Substation, about 35 km southeast of Sekelduin, through two parallel 132 kV overhead power lines.  This setup improves network robustness and reduces the risk of a single failure affecting coastal nodes. NamPower said the new infrastructure adds to its transmission network, unlocks coastal load growth, strengthens reliability, and prepares the Erongo region grid for the future.  The digital design uses…

Chamwe Kaira Oryx Properties expects the construction sector to expand, supported by mining-related and public infrastructure projects.  “Against this backdrop, the property sector is poised for gradual recovery, buoyed by improved affordability,” the company said in its results for the year ended. Oryx projected that the Namibian economy will grow by 3.5% in 2025, moderating from 3.7% in 2024, before recovering to 3.9% in 2026.  “This outlook reflects headwinds in primary industries, particularly agriculture and mining, while tertiary sectors such as wholesale, retail, and transport are expected to remain resilient drivers of growth,” the company said. Simonis Storm Securities projected…

Chamwe Kaira The Ministry of Finance is conducting regional consultations on the Public Procurement Act until 4 October.  The ministry is inviting the public to review and provide feedback on proposed amendments contained in the Public Procurement Amendment Bill, 2025. The bill seeks to amend the Public Procurement Act of 2015, which regulates the procurement of goods, works, and services; the letting or hiring of assets; the granting of rights; and the disposal of assets by public entities.  It also establishes the Public Procurement Regulatory Authority, the Procurement Policy Unit, and the Central Procurement Board of Namibia, defining their powers…

Staff Writer Barloworld Limited’s group revenue fell by 10%, dropping from N$37.4 billion to N$33.6 billion for the eleven months ended 31 August 2025 compared to the same period in 2024. Barloworld Equipment, a subsidiary of Barloworld, operates in Namibia, Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, South Africa, Zambia, Zimbabwe, and the Katanga province of the Democratic Republic of Congo.  In Namibia, the company distributes and supports Caterpillar and other heavy machinery for mining, construction, and related industries. Its operations in Windhoek, Walvis Bay, and Swakopmund offer marine power solutions, industrial and electric power ratings, oil and gas sustainability, and…