Observer Money

Staff Writer Namcor, in partnership with SBM Offshore and the Namibia Youth Energy Forum, hosted an FPSO masterclass at the Namcor Auditorium on Tuesday. The session was facilitated by Thomas Lorin, FPSO Framing Manager at SBM Offshore. It focused on Floating Production, Storage and Offloading units, a key part of offshore oil and gas development.  The masterclass covered FPSO design, construction and operations and offered practical insight for industry professionals and young Namibians interested in the energy sector. More than 110 people attended the event, including Namcor staff and members of the youth community. SBM Offshore country manager Matthieu Jeannin…

Staff Writer Glencore plc has entered into a non-binding memorandum of understanding with the US-backed Orion Critical Mineral Consortium for the possible sale of a 40% stake in its Democratic Republic of Congo (DRC) mining assets. The agreement covers Mutanda Mining and Kamoto Copper Company, both located in the Democratic Republic of Congo.  The proposed transaction is expected to value the two assets at a combined enterprise value of about US$9 billion. Under the terms of the agreement, Orion CMC would acquire a minority strategic stake, while Glencore would retain operational control.  Mutanda Mining and Kamoto Copper Company would continue…

Staff Reporter The Foschini Group Limited has reported modest sales growth for the third quarter of its 2026 financial year, as tough consumer conditions in South Africa continued to limit discretionary spending. In a trading update covering the nine months from 1 April 2025 to 27 December 2025, including the 13 weeks to 27 December 2025, the Group said trading conditions remained difficult despite easing inflation and recent interest rate cuts.  The company noted that the third quarter of the prior year benefited from the introduction of South Africa’s two-pot retirement system, which supported consumer spending at the time. Sales…

Staff Writer Southern Sun Limited has announced a proposed transaction to acquire a 50% undivided share in a portfolio of hospitality and leisure properties in Sandton that it currently operates under long-term lease and management agreements. The assets, known as the Sandton Consortium Properties, include Sandton Towers, Garden Court, Sandton City, the Sandton Convention Center and Virgin Active Sandton.  The properties are located on Erf 596, Sandown Extension 38, in Gauteng. Virgin Active Sandton is leased to the Virgin Active Group.  The Sandton Sun hotel is not part of the transaction and will remain under its current ownership, with Southern…

Chamwe Kaira Capricorn Group Limited has warned shareholders that its financial performance for the interim period ended 31 December 2025 will be weaker than the prior year, mainly due to higher credit impairment charges and softer economic conditions in parts of its regional operations. In a trading statement issued in line with Namibia Securities Exchange listing requirements, the group said profit after tax, earnings per share and headline earnings per share are expected to decline by between 10% and 15% compared to the same period in 2024. The group said the expected decline is largely driven by increased credit impairment…

Staff Writer Tsodilo Resources Limited has raised about N$10.2 million through a non-brokered private placement to support its critical and rare earth metals projects.  The company plans to ship its products through Namibia once mining begins. The financing closed on 2 February 2026 and generated gross proceeds of C$742,095, equal to about N$10.2 million. Tsodilo issued 4,947,297 units at a price of C$0.15 per unit, or about N$2.06 per unit. Each unit includes one ordinary share and one share purchase warrant. The warrants allow holders to buy one additional ordinary share over five years at an exercise price of US$0.15…

Chamwe Kaira Proflight Zambia has completed the International Air Transport Association Operational Safety Audit (IOSA) and is now listed on the IOSA registry, strengthening its safety credentials and readiness for international operations. The airline said it is now an IATA member. Ahead of its launch, the airline has appointed AirlinePros International as its general sales agent in Namibia to support sales development, market outreach and customer service. The Windhoek service is scheduled to start on 3 March 2026 and will operate three times a week on Tuesdays, Fridays and Sundays. Flights will depart Lusaka at 08h30, stop briefly in Livingstone,…

Chamwe Kaira The Chamber of Mines of Namibia says gold prices are expected to remain supportive, with levels forecast to stay high by historical standards. “This should sustain strong margins at operating mines and encourage further investment in mine-life extensions and new project development, reinforcing gold’s role as a key non-diamond contributor to export earnings and government revenue,” the chamber says in its mining update for November and December 2025. The chamber says copper and tin are emerging as potential upside commodities. Copper demand is supported by global electrification, renewable energy investment and infrastructure expansion.  Tin continues to benefit from…

Chamwe Kaira The Road Fund Administration (RFA) says it faces a funding shortfall of N$3.6 billion under its Integrated Strategic Business Plan (ISBP) for the 2024–2029 period, a gap that rises to N$15.3 billion over five years. The ISBP sets out a plan to gradually increase funding for national and urban road maintenance.  RFA says this will be supported by capacity-building efforts within the Roads Authority and municipalities.  It also notes that traffic law enforcement should be funded through public allocations to keep it independent of Road User Charges (RUCS) fluctuations. The RFA says the ISBP extends its internal business…

Staff Writer Shoprite Group reported higher sales for the six months ended 28 December 2025, with merchandise sales from continuing operations rising 7.2% to about N$136.8 billion. This compares with restated sales of N$127.6 billion in the same period last year. The increase represents an extra N$9.2 billion in sales during the interim period. The group’s Supermarkets South Africa segment contributed most of the growth.  The segment accounted for 84.3% of total group sales and recorded sales growth of 7.1%, adding N$7.7 billion over six months. The group said its pricing approach continued to support affordability. Internal selling price inflation…