Observer Money

Chamwe Kaira  The Communications Regulatory Authority of Namibia (Cran) has welcomed a High Court ruling that declared an exclusive fibre lease agreement between NamPower, MTC, and Telecom Namibia invalid. On 31 July 2025, the High Court ruled that clause 3.2 of the agreement, the automatic renewal clause, was invalid.  The court confirmed that the agreement legally ended on 31 May 2022, when its 10-year term expired. In 2012, NamPower, MTC, and Telecom Namibia signed a tripartite agreement for the lease of NamPower’s dark fibre telecommunications services.  The agreement granted MTC and Telecom exclusive access to the fibre and included an…

Chamwe Kaira  The tourism industry has rebounded to pre-pandemic levels, with the national occupancy rate rising to 67.55% in August, up from 59.61% in July.  This was a 4.5 percentage point increase from 63.02% in August 2024 and marked the highest monthly rate since the pre-Covid peak of 69.9%. “This robust performance underscores the resilience of the tourism sector and signals a full recovery of seasonal demand. With September historically being the busiest month of the year, it is anticipated that the upcoming figures will surpass pre-pandemic levels,” said Macro Pulse, an analyst at Simonis Storm Securities. On a year-to-date…

Chamwe Kaira  The Remgro Group says its share of IFRS 3 amortisation and depreciation charges related to the Distell/Heineken transaction amounted to N$140 million for the year, down from N$257 million in 2024. “These charges stem from additional assets identified when Heineken Beverages obtained control over Distell Group Holdings Limited and Namibia Breweries Limited,” the group reported in results for the year ended 30 June. Heineken Beverages contributed a loss of N$50 million to Remgro’s headline earnings, compared to a loss of N$573 million in 2024.  Excluding amortisation and depreciation, Heineken Beverages posted a profit of N$90 million, compared to…

Chamwe Kaira  Choppies Enterprises Limited reported a mixed performance across its southern African operations for the year ended 30 June 2025. In Namibia, sales grew 42.3%, with like-for-like sales up 33.06%.  Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 220%, while EBIT losses narrowed from BWP14 million (N$18 million) in the prior year to BWP9 million (N$11.7 million). “Profitability improved as new stores reached full potential, supported by better promotional activity and the completion of an inventory optimisation system,” the company said. The retailer operates more than 20 stores in Namibia and is considering expanding into the south, where…

Staff Writers  Nedbank Group chief executive Jason Quinn says marketing must be seen as central to business growth.  He noted that marketing has shifted from being a back-office function to a driver of trust, brand equity, and long-term value.  He cautioned against cutting marketing budgets during tough times, asking whether reducing visibility and customer engagement could ever solve business challenges. Quinn was speaking at the Nedbank Integrated Marketing Conference (IMC) 2025 in Johannesburg, South Africa.  The event drew over 3 000 delegates in person and online and featured more than 20 speakers under the theme 'Marketing is Business'. Nedbank Namibia…

Staff Writer  MultiChoice Group Limited says Groupe Canal+'s mandatory offer to acquire all ordinary shares in MultiChoice not already owned by Canal+ has become unconditional. The cash offer of N$125 per share was first outlined in a circular on 4 June 2024.  As of 19 September 2025, all suspensive conditions have been met or waived. The settlement process will begin once the takeover regulation panel issues its compliance certificate. Canal+ now directly owns 200,030,591 MultiChoice shares, equal to 46% of the company’s issued shares excluding treasury shares.  A further 9,767,641 shares, or 2.2%, have already been tendered under the offer.…

Chamwe Kaira Capricorn Asset Management chief economist Floris Bergh says the Bank of Namibia (BoN) is close to the end of its cutting cycle.  He noted that the monetary policy committees (MPCs) of both the Bank of Namibia and the Bank of Botswana are likely to hold rates steady for an extended period through 2026. In August, the BoN's MPC kept the repo rate unchanged at 6.75%.  The central bank said the stance followed a review of current and projected domestic, regional, and global economic developments. “Inflation trends will determine for how long. Elsewhere, we expect the Fed and the…

Chamwe Kaira Cattle prices across major global markets increased during the first half of 2025 compared to the same period in 2024, according to Namibia Agriculture Union (NAU) analyst Leigh-Ann Nehoya. In the European Union, the R3 steer price rose from an average of N$103.02/kg in the first half of 2024 to N$133.73/kg in 2025.  In the United States, prices strengthened from N$120.60/kg to N$136.56/kg, while Australian prices climbed from N$65.36/kg to N$74.50/kg.  South Africa’s RMAA A2 price improved from N$55.21/kg to N$63.10/kg. In Namibia, A2 and B2 cattle prices rose from about N$59.24/kg and N$58.18/kg, respectively, in the first…

Chamwe Kaira Elevate Uranium maintained momentum in expanding its mineral resources and moved into pre-development activities in Namibia during 2024/2025, chairman Scott Perry said in the company’s annual report for the year ended 30 June. By the end of the year, attention had shifted toward pre-development, following the construction and dispatch of the U-grade beneficiation pilot plant bound for Namibia.  “With uranium resources totalling 161.1 million pounds (Mlb) of uranium oxide (U₃O₈), comprising 66.1 Mlb U₃O₈ at the Koppies Uranium Project and 61.3 Mlb U₃O₈ at the Marenica Uranium Project, the company holds a substantial uranium inventory. Exploration nevertheless continued…

Chamwe Kaira Paratus Namibia Holdings Limited expects mixed results for the year ended 30 June 2025, with higher revenue but a sharp decline in earnings. In a trading statement on the Namibia Stock Exchange (NSX), the telecoms and infrastructure group said revenue is set to rise between 10% and 30% compared to the previous year.  However, the company projects a fall of more than 30% in headline earnings per share (HEPS) and basic earnings per share (BEPS). Paratus also predicts a substantial drop in earnings before interest, tax, depreciation, and amortisation (EBITDA), with a range of 10% to 30%.  The…