Observer Money

Jurie Strydom, the new CEO of Old Mutual, could earn as much as R300 million under a new outperformance plan designed to “unlock significant and sustained shareholder value”. The board admits that “since 2018, the company’s share price has not met expectations and continues to trade at a discount to group equity value.” This new incentive is “structured to align executive performance directly with the long-term interests of shareholders”. Strydom, who joined as CEO earlier this year after Iain Williamson indicated his decision to retire, was previously CEO of Alexforbes Life, Regent Insurance, and Sanlam Life and Savings. He was…

Staff Writer  Telecommunication giant MTC has opened its first mobile home in Divundu, bringing its national footprint to 39 outlets.  The shop was officially opened by information and communications technology minister Emma Theofelus. Speaking at the event, Theofelus said access to information and communication services depends on deliberate investment in infrastructure.  “Inclusivity can only be achieved when we intentionally invest and make information and communication infrastructure easily and affordably accessible,” she said.  She noted progress in network coverage and digital transformation and urged MTC to continue expanding services. This year, MTC opened five new mobile homes. Omuthiya and Divundu received…

Chamwe Kaira Vehicle sales opened the fourth quarter on a soft note, with new vehicle sales declining for the seventh straight month in October. Sales fell to 1 267 units, a 2.8% drop from the 1 303 units recorded in September.  This followed a 3.3% rebound in September. Despite the monthly dip, the broader trend is positive. October sales were 10.7% higher year-on-year, extending the recovery that began after the 9% annual drop recorded in March. The year 2025 continues to outperform 2024. Sales have fallen below the 1 000-unit mark only once this year, with January recording 966 units.…

Staff Writer Namibia’s vehicle market is set to face new cost pressures as proposed changes to the road funding model gain momentum.  The Road Fund Administration (RFA) has indicated that the fuel levy needs to rise to N$4.46 per litre to close the growing gap in funding for road maintenance. This would be an increase of N$2.06 per litre. Simonis Storm said the adjustment comes as ownership costs remain high due to expensive fuel, rising insurance prices, and increased vehicle maintenance costs. The firm said the levy increase would have a clear impact on the total cost of vehicle ownership.…

Staff Writer Namibia is marking International Fraud Awareness Week, and Standard Bank Namibia is urging the public to take active steps to protect themselves from scams.  Under the theme “Stop. Check. Protect.” the bank is promoting a culture of awareness to help safeguard consumers, businesses and the wider economy. Fraud has become a daily risk. Phishing emails, identity theft and cybercrime continue to grow, as fraudsters exploit technology and human error. The impact extends beyond money, affecting emotional wellbeing and trust in financial institutions. “Fraud is not just about stolen money; it’s about stolen peace of mind,” said Roxzaan Witbooi,…

Staff Writer Woolworths Holdings Limited has reported a strong start to its financial year, showing resilience across all business segments in South Africa and Australia. For the 19 weeks ending 9 November 2025, the group recorded turnover and concession sales growth of 6.2% and 6.8% on a constant currency basis, both well above inflation. The company progressed with its share buyback programme, repurchasing 6.9 million shares since September at an average price of N$51.22. Woolworths South Africa delivered solid results with turnover and concession sales up 7.4%. The food division continued to lead performance, posting comparable store growth of 6%…

Staff Writer Truworths International Limited has reported steady performance for the first 18 weeks of its 2026 financial year, with total retail sales holding at R7.2 billion despite mixed results across its African and UK operations. The group operates 33 stores outside South Africa, including 12 in Namibia, 12 in Botswana, five in Eswatini, two in Zambia and two in Lesotho. The retailer continues to trade on stock exchanges in South Africa, Namibia, Australia and the United Kingdom. Office UK delivered solid growth with a 6% rise in sales in sterling terms. Strong online activity and partnerships with leading global…