Observer Money

Chamwe Kaira FirstRand Limited believes that Namibia’s uranium and oil and gas sectors are well positioned for a rebound. The firm said that while low inflation should help keep interest rates down, fiscal strain from declining Southern African Customs Union and diamond revenues could force the government to reduce its spending plans to maintain debt sustainability. On tariffs, FirstRand noted that Namibia’s exports to the United States make up less than 1% of GDP and that certain products are exempt from US tariffs. The company added that, despite weaker crop farming and a contraction in diamond production, growth in Namibia’s…

Chamwe Kaira De Beers’ diamond production rose 38% to 7.7 million carats in the third quarter of 2025, driven by higher output from its Jwaneng mine in Botswana, parent company Anglo American said in its quarterly production report. De Beers operates through joint ventures with the Namibian government, including the Namibia Diamond Trading Company, Debmarine Namibia, and Namdeb land operations. Production in Botswana climbed 51% to 6 million carats as Jwaneng processed higher-grade ore ahead of an extended maintenance shutdown planned for the entire fourth quarter. Orapa also resumed operations after a scheduled shutdown in the previous quarter. Output in…

O&L Group has said the franchise agreement with Pick n Pay South Africa concluded on 30 June 2025. The roll-out of the Model brand started on 1 July 2025, with every previously branded Pick n Pay store being rebranded to Model. Observer Money asked Carmen Maartens, O&L communications specialist, about the process of rebranding from Pick n Pay to Model.  Observer Money (OM): How has the transformation from Pick n Pay gone? Carmen Maartens (CM): The franchise agreement with Pick n Pay South Africa concluded on 30 June 2025, but preparations for this transition had been underway throughout the preceding…

Chamwe Kaira Elevate Uranium Ltd says shipping delays have pushed back the arrival of its U-pgrade pilot plant in Namibia to early November instead of early October. The company said the plant will be assembled on-site and begin operations as soon as possible. During the quarter ended in September, Elevate completed the design, construction and final factory testing of the pilot plant in Perth. The U-pgrade process removes gangue waste material and concentrates uranium minerals into a low-mass, high-grade concentrate before leaching. Elevate Uranium is listed on the Australian Securities Exchange and focuses on uranium exploration, development and the application…

Staff Writer Old Mutual Namibia has officially reopened its newly unified branch in Mariental, marking a key milestone in the company’s service expansion. The reopening took place on 30 October and brought together customers, staff, and members of the Mariental community. “The reopening signified more than just a physical transformation. It represented a renewed commitment to delivering integrated, customer-centric financial solutions. The new branch now houses both life assurance and short-term insurance services under one roof, streamlining operations and enhancing convenience for customers,” said Old Mutual. Speaking at the event, Paul-Gordon Guidao-oab, general manager for retail operations and client servicing,…

Staff Writer Organic Energy Solutions (OES), a subsidiary of the Ohlthaver & List Group, has become Namibia’s first and only wood-chip biomass company to receive SURE (Sustainable Resources Verification Scheme) certification for energy production. The certification marks a major milestone for Namibia’s renewable energy sector. The certification follows a three-day audit confirming that OES’s biomass operations meet the strict sustainability requirements of the European Union’s Renewable Energy Directive (RED II). With this, OES joins a small group of SURE-certified energy companies in Namibia, most of which operate in the charcoal industry. “Being the only SURE-certified wood-chip biomass company in Namibia…

Staff Writer The board of directors of the African Development Bank Group has approved US$75 million in financing to support South Africa-based Nyanza Light Metals Pty Ltd (Nyanza) in advancing Africa’s industrialisation through local value addition to its titanium mineral resources. Titanium dioxide is a key pigment used in paints, coatings, food processing, cosmetics, and medical products. Despite strong demand, manufacturers in South Africa and across the region still depend on expensive imports.  Nyanza’s project aims to change this by producing titanium dioxide locally, reducing import reliance and placing Africa within the global titanium value chain. The African Development Bank’s…

Staff Writer The Third Financing Summit for Africa’s Infrastructure Development took place in Luanda this week, with African leaders calling for stronger action to close the continent’s infrastructure financing gap and unlock its potential as a global growth engine. In his opening remarks, Angolan President João Manuel Gonçalves Lourenço, who also chairs the African Union (AU), said Africa must invest between US$130 billion and US$170 billion annually to build the foundation for sustainable growth.  “We must move from words to action,” Lourenço urged. “This summit represents a decisive step toward mobilising the resources needed to enhance connectivity and integration across…

Chamwe Kaira Grindrod Logistics has opened a new warehouse facility at the Port of Walvis Bay to boost cargo handling and strengthen Namibia’s trade corridors.  The warehouse is located near berths 7 and 8 and is designed for efficient cargo movement via conveyor, rail, and road. The 4 000-square-metre weatherproof facility, built on Grindrod’s existing 50 000-square-metre premises, meets all safety, health, environment and quality (SHEQ) standards set by the Namibian Ports Authority (Namport).  The development marks a major collaboration between Grindrod and Namport to enhance port efficiency and position Walvis Bay as a reliable regional trade gateway. Frans Visser,…

Staff Writer  Letshego Holdings Namibia Limited (LHN) has appointed Willem Pretorius as its new chief financial officer, effective 27 October 2025, the company announced in a notice on the Namibian Stock Exchange (NSX). Pretorius, a Chartered Accountant (Namibia), has over 11 years of experience in the banking and financial services sector. He holds qualifications in accounting from Northwest University and the University of South Africa and completed his articles with Ernst & Young Namibia before qualifying as a CA in 2014. He has held several key roles at Letshego Bank Namibia, including acting CFO, head of treasury, and finance controller.…