Observer Money

Chamwe Kaira Mobile Telecommunications Limited (MTC) has disclosed that total executive remuneration rose to N$52.7 million in 2025, up from N$33.3 million in 2024. The increase was largely driven by performance bonuses and retention payments. According to the company’s notice of annual general meeting for 2026, executive directors earned N$25.6 million in salaries, N$7 million in allowances, N$6.95 million in performance bonuses and N$11.8 million in retention payments for the financial year ended 30 September 2025. MTC managing director Licky Richard Erastus received total remuneration of N$9.9 million in 2025, compared to N$7.3 million the previous year.  Finance director Marthinus…

Staff Writer Namibia’s energy ambitions came into focus during a visit by a United States government delegation to Baker Hughes’ facility at the Port of Walvis Bay. The delegation was led by US ambassador to Namibia John Giordano. It included Joshua Volz, special envoy for global energy integration at the US department of energy and Mike Kopp, senior advisor to the US secretary of energy, along with other officials. They toured Baker Hughes’ integrated multi-modal facility and received a briefing on the company’s operations in Namibia. The visit highlighted the role of the company’s infrastructure in supporting the development of…

Staff Writer Mobile Telecommunications Limited (MTC) has appointed Trophimus Hiwilepo as its new non-executive chairperson with effect from 13 February. The appointment follows the passing of former chairperson Theofelus Mberirua, which the company announced on 25 November 2024. In a notice to shareholders, MTC said the board appointed Hiwilepo in line with section 3.59 of the Namibia Securities Exchange Listings Requirements and Article 88 of the company’s Articles of Association. Hiwilepo has served as an independent non-executive director since July 2024. The board said the appointment reflects its confidence in Hiwilepo’s leadership and business experience, as well as his commitment…

Staff Writer Namibia Asset Management Ltd (NAM) shareholders approved all resolutions tabled at the company’s annual general meeting held on 12 February 2026. Shareholders noted and adopted the annual financial statements for the year ended 30 September 2025. Under ordinary resolution 1, shareholders approved remuneration for non-executive directors for the 2026 financial year. The resolution received 187.82 million votes in favour, with no votes against or abstentions. Ordinary resolution 2 approved the appointment of EY Namibia as the company’s registered auditor, as recommended by the Audit and Risk Committee. Shareholders also authorised the directors to determine the auditor’s remuneration. The…

Staff Writer Trustco Group Holdings Limited says no valid voting took place at its general meeting held in Windhoek on Monday, after the notice convening the meeting was found to be defective. The meeting was convened at the request of Riskowitz Value Fund LP and took place at The Weinberg – Muscadel & Burgundy venue. It was called in terms of section 189(3) of the Companies Act No. 28 of 2004. Trustco chairperson Advocate Raymond Heathcote SC ruled that the notice did not comply with section 1(8) of the Act, which sets out how and when notice must be given…

Chamwe Kaira  Standard Bank Namibia has said that given the Bank of Namibia’s emphasis on closing the differential with South Africa and the current 25 basis points (bps) gap, its expectation is that the Bank of Namibia will keep rates unchanged until the South African Reserve Bank (SARB) fully closes the differential through further cuts.  “Only then would BoN begin its own easing cycle. In this scenario BON will only deliver two 25bps cuts in tandem with South Africa,” Standard Bank economist Helena Mboti has said.  The Bank of Namibia is expected to make its first monetary policy decision for…

Staff Writer Cirrus Unlisted Investments and Ultimate Safaris have completed an equity funding transaction that will see Cirrus acquire a significant minority stake in Ultimate on behalf of individual and institutional Namibian investors. Ultimate is a Namibian luxury lodge and tour operating company. Cirrus said the business has strong potential for further growth and represents a high-impact Namibian company. Ultimate Safaris started small and has built a reputation for its sustainability efforts. The company focuses on luxury ecotourism and operates across Namibia’s natural landscapes and remote areas. It works to limit environmental impact while supporting conservation and local communities. “Namibia…

Staff Writer The Stampriet Aquifer Uranium Mining Association (SAUMA) attended a closed stakeholder meeting with the International Atomic Energy Agency (IAEA) on 6 February. Environmental commissioner Timoteus Mufeti invited the association to take part. The meeting formed part of an independent technical review by six IAEA representatives into a proposed uranium in situ leaching mining project in the Omaheke region. The review aims to provide expert advice on environmental protection, groundwater resources, public health and regulatory oversight. The IAEA team was invited to review Headspring Investments’ application for an environmental clearance certificate (ECC). The company plans to conduct four years…

Staff Writer Standard Bank Namibia has issued a public warning about a fraudulent social media video that falsely portrays its chief executive officer, Erwin Tjipuka, promoting an alleged investment scheme. In a statement released on Monday, the bank said the video, which has been circulating on platforms including Facebook, is a deepfake, digitally manipulated content designed to mislead viewers by attributing statements or endorsements to well-known individuals. The bank said neither Tjipuka nor its leadership has participated in, endorsed or advised on any investment opportunity outside the institution’s official product offerings. Standard Bank Namibia said it unequivocally distances itself from…

Chamwe Kaira Bannerman Energy Ltd has signed binding investment and joint venture agreements with China Nuclear Overseas Limited to fund the development of the Etango Uranium Project in the Erongo Region. Under the agreement, CNOL will invest US$294.5 million for a 45% stake in Bannerman Energy (UK) Ltd, the newly formed joint venture company. Bannerman will retain a 55% interest. CNOL will also reimburse Bannerman up to US$27 million for 45% of approved early works expenditure incurred from 1 July 2025 until completion. The joint venture company owns 95% of the Etango Project. The project has an initial planned production…