Observer Money

Staff Writer  Bank of Namibia governor Ebson Uanguta last week completed a regional working visit to Kenya, Rwanda and Uganda as part of efforts to strengthen cooperation and learn from other African central banks. The engagements focused on financial systems, digital transformation, banking supervision, oil sector management and economic policy. Uanguta first visited the National Bank of Rwanda in Kigali, where he met governor Soraya Hakuziyaremye and deputy governor Nick Barigye. During the visit, the Bank of Namibia and the National Bank of Rwanda signed a Memorandum of Understanding aimed at strengthening cooperation in economic research, financial inclusion, digital transformation,…

Chamwe Kaira  Africa Bitcoin Corporation, which is also listed on the Namibia Securities Exchange (NSX), has received approval to move its listing from the Alternative Exchange (AltX) of the Johannesburg Stock Exchange (JSE) to the JSE main board. The company announced on Monday that the transfer will take effect on 22 May. The move will include the company’s ordinary shares as well as its preferred A, preferred B and preferred C ordinary shares, which will trade under the JSE’s general segment classification. Africa Bitcoin Corporation, formerly known as Altvest Capital Limited, said the transfer forms part of its plan to…

Chamwe Kaira  Dual-listed local investment group Trustco Group Holdings Limited has advised shareholders to remain cautious when trading its shares as the company’s delisting process continues. In a further cautionary announcement issued this week, Trustco referred shareholders to earlier announcements on the proposed delisting, including the latest notice published on 7 April 2026. The company said shareholders should “continue to exercise caution when dealing in the company's securities until a full delisting announcement is made”. Trustco is listed on both the Johannesburg Stock Exchange (JSE) and the Namibia Securities Exchange (NSX) under the share codes TTO and TUC. The announcement…

Staff Writer Choppies Enterprises Limited has announced a share transaction involving its chief executive officer and a senior management member in line with Botswana Stock Exchange listing requirements. The company said director Ramachandran Ottapathu bought 780 000 ordinary shares in Choppies on 18 May 2026 at P1.50 per share. The transaction was valued at BWP1.17 million. On the same day, senior management member Satheesan Kodakkadath sold 780 000 ordinary shares at the same price of P1.50 per share, also valued at BWP1.17 million. Choppies said both transactions were conducted on the market. The retailer is primarily listed on the Botswana…

Staff Writer Santam Limited says it delivered a strong operational performance during the first quarter of 2026 despite facing about R430 million in weather-related and other major claims. The insurer, which is also listed on the Namibia Securities Exchange (NSX), recorded 9% growth in gross written premiums in its conventional insurance business for the three months ending 31 March 2026. Santam said growth came from all business units, although international operations had a slower start to the year. Its direct insurance businesses, including MiWay and Santam Direct, continued recording double-digit premium growth. The group said underwriting performance was affected by…

Staff Writer WeBuyCars Holdings Limited says the rapid growth of South Africa’s new vehicle market and the rise of lower-priced Asian vehicle brands are putting pressure on the used vehicle sector. In its interim financial results for the six months ending 31 March 2026, the company said the new vehicle market grew by 15.7% during the 2025 calendar year, increasing competition across the motor industry. The company said Asian vehicle brands continue gaining market share through lower prices and attractive finance offers, forcing traditional vehicle manufacturers to respond with discounts and promotions. “This has significantly influenced consumer behaviour and heightened…

Chamwe Kaira  The Namibia Revenue Agency (NamRA) says delays experienced at major border posts following the rollout of the new automated system for customs data (ASYCUDA) have been resolved after staff worked around the clock to address technical problems. NamRA officially upgraded and rolled out version 4.4.1 of the ASYCUDAWorld system on 5 May as part of its move toward a fully paperless customs environment. NamRA commissioner Sam Shivute said the new system has already processed goods worth N$18 billion between 5 May and 17 May. ASYCUDA is a computerised customs management platform developed by the United Nations Conference on…

Chamwe Kaira  Namibia’s vehicle market slowed in April after a strong surge in March driven by fleet deliveries and rental sector demand, according to analysts at Simonis Storm Securities. Total vehicle sales dropped by 20.6% month-on-month to 1 320 units in April from 1 662 units in March. Despite the decline, sales remained 5.7% higher than the 1 249 units sold in April 2025. Simonis Storm anticipated the April slowdown following March's record-breaking vehicle sales performance, the strongest in over a decade. Simonis Storm said March sales were boosted by large commercial fleet orders, rental sector expansion and strong passenger…

Staff Writer Namibia’s four largest commercial banks recorded a sharp rise in loan impairments during the Covid-19 pandemic before conditions gradually stabilised, according to a new banking sector report released by Cirrus Capital. The report, cited by Fimanekeni Mbodo, shows that combined impairments at First National Bank of Namibia, Bank Windhoek, Nedbank Namibia and Standard Bank Namibia increased from about N$230 million in June 2015 to a peak of about N$1.5 billion in December 2020. According to the report, the banking sector’s impairment cycle over the past decade can be divided into three phases. Between 2015 and 2018, impairments remained…

Chamwe Kaira  Famous Brands has reported weaker profits from its Southern African Development Community (SADC) operations as declining consumer spending in key regional markets such as Botswana and Zambia weighed on performance. Famous Brands operates more than 3 000 restaurants across 30 countries. In Namibia, its franchises include Debonairs Pizza, Steers, Wimpy, Mugg & Bean, Fishaways and Milky Lane. The group said its SADC operations, which cover 11 countries, came under pressure during the reporting period as economic conditions weakened across the region. Revenue from the SADC region declined 6% to R423 million from R451 million previously, while operating profit…