Observer Money

Staff Writer The African Union Development Agency (AUDA-NEPAD) and the African Union Commission (AUC), in collaboration with the Angolan government, will host Africa’s biggest infrastructure financing summit from 28 to 31 October 2025 in Luanda. The event follows the momentum of previous gatherings, including the 2023 Dakar Infrastructure Financing Summit.  It forms part of a continental effort to unlock investments and partnerships in support of the African Union’s Agenda 2063 infrastructure goals under the Programme for Infrastructure Development in Africa (PIDA). The summit comes at a time when Africa faces an annual infrastructure financing gap of more than US$100 billion…

Chamwe Kaira  Starlink’s application to operate in Namibia remains unresolved, as the process is tied up in local ownership requirements. Communications Regulatory Authority of Namibia (Cran) chief executive officer, Emilia Nghikembua, said the regulator cannot finalise the company’s telecommunications service licence until the minister of information and communication technology decides on an ownership exemption request. “Starlink submitted an application for a telecommunications service licence in June 2024. One of the criteria is that an applicant must be 51% Namibian owned and controlled,” Nghikembua said.  In November 2024, Cran issued a cease-and-desist order to Elon Musk's satellite internet provider, Starlink, for…

Chamwe Kaira  Debmarine Namibia has contributed N$18 billion to its shareholders, De Beers and the Namibian government, over the past five years. Debmarine's chief executive officer, Willy Mertens, said the company will continue to recover diamonds in a safe and sustainable way while creating value for shareholders and leaving a lasting legacy in Namibia. This week, Debmarine unveiled its Next Generation Crawlers, which will be integrated with the MV Benguela Gem.  The official unveiling took place at Cape Town harbour. The new crawlers are expected to increase the Benguela Gem’s annual recovery by about 80 000 high-value carats, more than…

Observer Money had a sit-down with Communications Regulatory Authority of Namibia (Cran) chief executive officer Emilia Nghikembua about issues in the telecommunications sector. Observer money (OM): Paratus has announced plans to launch its mobile phone offering. What does this mean for the mobile phone market from the Cran’s perspective?  Emilia Nghikembua (EN): Paratus Telecommunications launching a mobile phone service signifies increased market competition, which can benefit consumers through better prices, improved quality of service and customer experience. It encourages innovation, expands network options, and stimulates industry growth. Overall, Paratus’ entry is viewed as a positive development for a more competitive…

Chamwe Kaira  Old Mutual Limited reported strong growth in its Integrated Report for the year ended 31 December 2024, driven by retail sales in Namibia and corporate sales in Malawi. Life's Annual Premium Equivalent sales rose 17% to just over N$1 billion. The company credited the increase to stronger adviser productivity in Namibia and new business in Malawi. The value of new business and margin fell compared to the prior year after changes were made to better account for expenses.  “These changes were partially offset by a positive product mix in Malawi, weighted towards more profitable product lines and higher…

Chamwe Kaira  The Namibia Statistics Agency (NSA) said the annual inflation rate stood at 3.2% in August compared to 4.4% recorded in August 2024. On a monthly basis, inflation was 0.0%, down from 0.1% in July. Zonal data showed Zone 1, which includes Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi, recorded the highest rate at 3.6%. Zone 3, covering ||Kharas, Erongo, Hardap and Omaheke regions, recorded 3.2%, while Zone 2, the Khomas region, recorded 2.9%. The NSA said Zone 2 consumers paid the highest price for apples at N$41.42 per kilogram, followed by Zone 3…

Chamwe Kaira  Debmarine Namibia unveiled its Next Generation Crawlers this week in Cape Town, introducing new technology for the MV Benguela Gem that is expected to increase diamond recovery by about 80 000 high-value carats annually.  The boost will more than offset the carats lost through the retirement of two older vessels. Head of projects and technology development, Danie van Aswegen, said the new crawlers were designed to be more robust to extend their lifespan. They cost close to N$1 billion to develop.  He explained that the Benguela Gem undergoes servicing every three years, while its crawler is replaced every…

Chamwe Kaira Simonis Storm Securities analyst Kara van den Heever says the suspension of the Deduction Code, effective 30 November, raises concerns for Letshego Namibia because a large portion of its Deduction at Source (DAS) model depends on this system. On 28 August, government employees were informed that the Deduction Code would be suspended. Van den Heever said the impact could be significant.  “To put the scale into context, as of the 2024 financial year, 110 607 loans were originated via DAS. While not all of these loans relate to government employees, the government remains Namibia’s largest employer, which allows…

The Bank of Namibia (BoN) has announced the appointment of deputy governor Leonie Dunn to the global board of directors of the Alliance for Financial Inclusion (AFI) for the term September 2025 to September 2027. The appointment was confirmed at the 2025 AFI annual general meeting held on 3 September during the AFI Global Policy Forum in Swakopmund. Dunn will represent the BoN on the AFI Board as stipulated in Article 18 of the AFI Articles of Association. The AFI board of directors is the highest governance body of the Alliance, setting the network’s strategic direction, ensuring accountability, and guiding…

KPMG has released its latest global report, Banking Transformation: The New Agenda, which reveals how leading banks are reshaping their operations to deliver sustainable growth and cost efficiency.  Drawing on a global survey of 228 banking leaders, the report outlines practical strategies for African banks to navigate growing economic pressures, regulatory change, and intensifying competition from fintech and digital-first challengers. The report shows that while transformation is a universal imperative, only 18% of banks globally have been highly successful in achieving their transformation objectives. Furthermore, 53% of banks aim to cut costs by at least 10% by 2030, yet only…