Observer Money

Chamwe Kaira Andrada Mining Limited reported a 32% increase in revenue to £23.8 million (N$563 million) for the year ended 28 February, supported by stronger tin prices, higher contained tin production, and initial sales of tantalum. The average realised tin price rose 21% to US$31 081 per tonne, helping offset rising costs. Chief financial officer Hiten Ooka said the cost of sales rose 28%, largely due to a 22% increase in production costs driven by higher maintenance expenses from unplanned plant outages. Finance expenses climbed to £6.3 million, adding pressure on net earnings. The royalty charge increased sharply from £0.1…

Diamond prices fell in many categories in August as the US tariffs impacted demand for Indian goods. Prices of rounds weakened, though fancies were stable. Deep uncertainty dampened sentiment. US retail and wholesale were steady. The RapNet Diamond Index (RAPI) for 1-carat goods — reflecting round, D to H, IF to VS2 diamonds — fell 1.1% in August. The index for 0.30- and 0.50-carat stones declined 3.8% and 3.9%, respectively. Larger stones continued to outperform smaller items, with the 3-carat RAPI increasing 0.4%. US President Donald Trump implemented 25% duties on Indian goods from 1 August and 50% from 27…

The chief executive officer of Letshego Microfinancial Services Namibia, Melvin Hosea Angula, addressed global policymakers this week at the Alliance for Financial Inclusion's (AFI) Global Policy Forum 2025 in Swakopmund, sharing how AI, digital identity, and microfinance can close the financial inclusion gap in Africa. Angula’s presentation, titled Leveraging Technology to Improve Supervision and Regulation: The Taamba Maris Case Study, highlighted Namibia’s first instant mobile credit product developed with MTC Maris. He said the platform is transforming access to finance while giving regulators real-time visibility. “We built Taamba Maris not just for speed, but for trust. By embedding safeguards like…

Justicia Shipena  Civil servants will be able to access home loans under the Pension Backed Home Loan Scheme (PBHLS) starting January 2026.  The Government Institutions Pension Fund (GIPF) and the office of the prime minister signed a Memorandum of Agreement (MoA) to implement the scheme on Wednesday. The MoA was signed by secretary to cabinet Emilia Mkusa and GIPF chief executive officer Martin Inkumbi. The scheme allows qualifying members to borrow up to one-third of their pension savings to buy or build a home, purchase land, or renovate existing properties in both proclaimed and unproclaimed areas.  Inkumbi said  the loans…

Chamwe Kaira The Southern African Customs Union (SACU) was Namibia’s largest export destination in June, taking 30% of total exports, data from the Namibia Statistics Agency (NSA) shows. The BRIC+5 bloc followed closely with 29.9%, while the European Union (EU) accounted for 12.5%. COMESA made up 11.6% and the OECD 9.1%. Exports to SACU were mainly non-monetary gold and diamonds. The BRIC+5 bloc received mostly uranium.  The EU market imported fish, beef and ores and concentrates of base metals. COMESA’s main imports from Namibia were fish, sulphur, unroasted iron pyrites and rubber tyres. The OECD market took uranium and nickel…

Chamwe Kaira Andrada Mining Limited has started exploration drilling at its Lithium Ridge project in the Erongo Region.  The company is working with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd. The drilling forms part of the first stage of a three-stage earn-in agreement with SQM. Under this stage, SQM will fund up to U$7 million in exploration to secure an initial 30% interest. Across all three stages, SQM may fund up to U$40 million. The programme involves 14 000 metres of orientated diamond drilling on priority lithium targets.  It also includes high-resolution geological…

Chamwe Kaira  Reconnaissance Energy Africa Ltd says drilling of the Kavango West 1X exploration well remains on schedule and expects to reach total depth by the end of November. The well spudded on 31 July. Brian Reinsborough, president and chief executive officer, said the operations team in Namibia is making steady progress. “We anticipate entering the Otavi reservoir, the primary target for the Damara Fold Belt Play, in October and plan to penetrate over 1500 metres of potential reservoir section. We look forward to reporting results of this play opening well to all stakeholders around year-end,” he said.  The well…

Chamwe Kaira Namibia’s annual inflation rate eased to 3.5% in July from 3.7% in June, resuming the downward trend seen earlier in the year.  However, an analyst has warned that risks remain skewed to the upside heading into the last part of 2025. Almandro Jansen of Simonis Storm Securities said imported cost pressures continue to present the main threat.  He pointed to the 30% US tariff on South African exports and ongoing reviews of US tariffs on Chinese goods as new sources of uncertainty in global supply chains. “For Namibia, the short-term impact may involve marginal relief from surplus South…

Chamwe Kaira Capricorn Group has told shareholders it expects profit after tax, earnings per share and headline earnings per share for the year ended 30 June 2025 to rise by between 12% and 17% compared to the previous year. The audited results are scheduled for release on or about 18 September. In the 2024 financial year, Capricorn reported profit after tax of N$1.74 billion, up 17.7% from N$1.48 billion in 2023. Return on equity increased to 17.9% from 17.6%. The growth was attributed to strong results across its businesses, including Bank Windhoek, Bank Gaborone, Capricorn Asset Management, Entrepo Group, Peo…

Chamwe Kaira  The new executive committee of the Namibia Chamber of Commerce and Industry (NCCI) Lüderitz branch has pledged to represent businesses of all sizes. It will focus on creating an enabling environment that promotes entrepreneurship, youth empowerment, and investment. Alex Gawanab was elected chairperson, with Daniel Hooft as vice-chairperson. Both are prominent figures in the local business community, representing the fishing industry and the emerging kelp-linked sector. In his acceptance speech, Gawanab said Lüderitz has the resources to drive economic growth in the town and the Karas Region through both established industries and new sectors.  He said the committee…