Observer Money

Chamwe Kaira Namibia’s economy is expected to slow in 2025 before picking up again in 2026, with weaker activity in manufacturing and the primary industries weighing on output, the central bank said.  Real GDP growth is projected to ease to 3% in 2025 from 3.7% in 2024. Growth is then expected to accelerate to 3.9% in 2026. The central bank attributed the slowdown primarily to a contraction in the manufacturing sector.  Output in the sector is expected to fall by 4.6% in 2025 after recording growth of 2.8% in 2024.  It said the decline is linked to sharp drops in…

Chamwe Kaira Namibia’s international reserves fell sharply at the end of October 2025, mainly because of the government’s eurobond repayment, the Bank of Namibia (BoN) said in its latest money and banking statistics report.  The reserves declined by 11.2% from September and by 20.2% from a year earlier to N$48.6 billion, giving an import cover of 3.2 months, or 3.5 months when excluding oil and gas exploration imports. The decline was caused by several outflows, including the eurobond redemption on 29 October, net rand outflows by commercial banks, government foreign payments and a stronger Namibian dollar against the US dollar. …

Staff Writer Nictus Holdings Limited says all ordinary and special resolutions presented at its annual general meeting on 27 November 2025 were approved by shareholders, according to a notice issued on the Namibia Stock Exchange (NSX).  The company said every resolution received 100% support from the 47.5 million shares voted, representing 88.89% of its total issued shares. Shareholders confirmed the re-election of directors PJ de W Tromp and ME Ackermann and endorsed the company’s remuneration policy through a non-binding advisory vote. They also approved non-executive directors’ fees and reappointed BDO as external auditors.  Resolutions authorising the issue of ordinary shares,…

Chamwe Kaira The electricity and water sector is expected to remain a key growth driver within the secondary industries. The subsector is projected to grow by 8.5% in 2025, up from 2.3% in 2024.  The Bank of Namibia's December economic outlook said the improvement is linked to expected favourable rainfall that will boost hydroelectric generation at Ruacana, along with ongoing investment in solar, wind and biomass projects.  The central bank said rising reservoir levels will also support stronger water supply performance and that growth is expected to remain high over the medium term in line with the government’s renewable energy…

Staff Writer  Standard Bank Namibia has reaffirmed its commitment to growth, sustainability and expanding homeownership at the home loans grand finale.  The event recognised top-performing estate agents, developers, and consultants whose work has supported the country's housing market. Chief executive Erwin Tjipuka said the bank remains focused on driving growth and building communities.  “Namibia is our home, and at Standard Bank, we are committed to driving her growth. Financing homes is not just about bricks and mortar; it is about building communities, creating opportunities and shaping a future where every Namibian has a place to call home.”  He highlighted the…

Observer Money sat down with MultiChoice Namibia Managing Director Roger Gertze to discuss the Canal+ deal, its impact on Namibia, the production of local content, subscription fees, and decoder prices. Chamwe Kaira (CK): What impact will the takeover of Multichoice by Canal+ have on the operations of Multichoice Namibia? Roger Gertze (RG): You would know that Canal+ is a media company similar to what we have been doing over the years. They have been concentrating on the French-speaking part of the continent as well as in their home country, France. They have been expanding over the years into a number…

Chamwe Kaira  Pepkor Holdings Limited grew its group revenue by 12% to N$95.3 billion for the year ended 30 September.  The clothing and general merchandise segment increased revenue by 8.9% to N$66.9 billion, while the furniture, appliances and electronics segment rose by 7.2% to N$11.8 billion. Operating profit before capital items increased by 13.2% to N$11.1 billion, driven by strong trading and tight cost control. Net finance costs grew by 4.1% to N$3 billion, supported by lower interest rates and measures that reduced funding costs.  “The group achieved strong cash generation and enhanced returns, notwithstanding the high levels of strategic…

Chamwe Kaira  S&P Global Ratings has upgraded eight South African banks after raising the country’s sovereign rating on 14 November. The agency lifted South Africa’s foreign-currency rating to BB from BB- and its local-currency rating to BB+ from BB, with a positive outlook. It said the move reflects better economic growth, a stronger fiscal path, and lower risks from state-owned enterprises as Eskom posts its first profit in decades. On 18 November, S&P said the sovereign upgrade allowed higher ratings across major banks, noting that most institutions remain capped by the sovereign ceiling because government distress can affect domestic banks.…

Chamber of Mines of Namibia chief executive Veston Malango says recent incidents involving hazardous materials such as sulphuric acid show the risks posed by damaged sections of the country’s railway network. He said these incidents can cause serious environmental harm, especially in sensitive areas. Malango said the mining sector relies on safe and reliable transport. He stressed that a strong railway system is critical for moving mining inputs and products in a safe and cost-effective way. Observer Money (OM): What is the Chamber of Mines of Namibia’s position on the current state of the railway industry in Namibia? Veston Malango…

Chamwe Kaira  Andrada Mining Limited reported higher production, stronger revenue and reduced operating losses for the six months ended 31 August 2025. The company said it is now entering a scaling phase after completing engineering upgrades and corporate restructuring. The unaudited interim results showed continued investment across its Namibian operations, including the Uis Mine and several development projects aimed at expanding tin, tantalum and lithium output. The company processed 527 583 tonnes of ore, up 10% from 481 504 tonnes in the first half of the previous financial year. Tin concentrate production increased by 14% to 858 tonnes, and tantalum…