Observer Money

Staff Writer Namdeb Diamond Corporation has launched a book documenting more than three decades of its operations and contribution to Namibia’s diamond industry. The book, titled Mining for Good: The Namdeb Story 1994–2024, was unveiled at an event attended by industry leaders, partners and stakeholders. The publication traces Namdeb’s development since its establishment in 1994 as a 50:50 partnership between the Government of Namibia and the De Beers Group. It also explores the broader history of diamond mining in Namibia, beginning with the first discovery in 1908. Namdeb said the book presents a narrative on the value of natural diamonds…

Staff Writer Namibia is preparing to test its first hydrogen-powered freight locomotive as part of efforts to modernise rail transport and introduce cleaner energy solutions in the logistics sector. CMB.TECH Namibia is leading the engineering and development of the locomotive, which is being assembled at the facilities of South African rail engineering company Traxtion. The project forms part of a partnership between TransNamib Holdings Limited, Africa Global Logistics and CMB.TECH Namibia. The partners aim to show how hydrogen can be integrated into Namibia’s freight rail system while reducing reliance on fossil fuels. Namibia currently has a number of idle locomotives.…

Staff Writer The Stampriet Aquifer Uranium Mining Association (Sauma) has raised concerns about a report tabled in Parliament by the standing committee on natural resources recommending that Headspring Investments be allowed to drill and carry out in situ uranium extraction at its Omaheke sites in the transboundary Stampriet Artesian Basin. Sauma said it was surprised by the committee’s findings and stated that it was not consulted during the process despite efforts to engage with the committee. The association said the committee appeared to have engaged only with Headspring Investments, a foreign-owned company. “This raises fundamental questions about the transparency, balance,…

Staff Writer  Bannerman Energy Ltd has strengthened its board with the appointment of chief executive officer Gavin Chamberlain as managing director and Danny Goeman as an independent non-executive director. Chamberlain joined Bannerman as chief operating officer in February 2023 and was promoted to chief executive officer in March 2024. He has experience in construction, engineering and project management in the mining sector in southern Africa. Chamberlain previously served as project director for the development of the US$2 billion Husab Uranium Project in Namibia, which is now one of the world’s largest operating uranium mines. Goeman joined Bannerman in May 2025…

Staff Writer  MultiChoice, part of CANAL+ SA, has announced that the Showmax streaming service will be discontinued following a review of its streaming operations. The decision was taken by the Showmax Board of Directors as the company reassessed its position in the global streaming market. MultiChoice said the review focused on financial sustainability and investment priorities in a competitive and capital-intensive streaming environment. The company noted that the Showmax business has recorded substantial annual losses that are no longer sustainable. “The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in…

Staff Writer  Standard Bank Namibia has been named the Best Trade Finance Provider in Namibia in the 2026 Global Finance Best Trade Finance Providers Awards. The award recognises the bank’s role in supporting cross-border trade, investment flows and business expansion. It comes as Namibia prepares for increased activity in sectors such as mining, energy, oil and gas, logistics and export agriculture. As global trade conditions shift and competition increases, businesses are seeking stronger risk management tools, efficient working capital solutions and reliable cross-border support. Standard Bank Namibia said its Corporate and Investment Banking division has expanded its trade finance services…

Chamwe Kaira  Namibia is strengthening its technical and scientific capacity as it prepares to defend its extended continental shelf claim before the United Nations Commission on the Limits of the Continental Shelf. The continental shelf refers to the part of the ocean floor that is shallower than the deep sea and usually follows the outline of the continent. Its width differs from place to place.  In some areas the seabed drops close to land, while in other areas it stretches hundreds of kilometres into the ocean. Namibia’s Walvis Ridge forms part of this wider seabed structure. To support its claim,…

Chamwe Kaira  The Criminal Assets Recovery Fund (CARF) recovered just over N$15 million in the 2024/25 financial year.  This represents an increase of just over N$300 000 compared to the amount recovered in 2023/24. The fund is financed through proceeds derived from confiscated criminal assets. It aims to ensure that money and property forfeited through crime are redirected toward public benefit. Funds recovered through CARF support crime prevention programmes, strengthen investigative capacity and fund projects aimed at reducing the social impact of criminal activity. According to the report, allocations from the fund were directed toward initiatives that support the work…

Staff Writer  Namibia is likely to feel the full impact of a global oil price shock because of its fixed exchange rate with South Africa and its reliance on imported fuel, according to a report by Simonis Storm. The Namibian dollar is pegged one-to-one to the South African rand under the Common Monetary Area. When the rand weakens against the US dollar, the Namibian dollar weakens by the same amount. Any rise in rand-denominated oil prices in South Africa is also reflected in Namibia. Namibia therefore has no independent exchange rate mechanism to soften external shocks. The Bank of Namibia…

Chamwe Kaira  FirstRand Limited has launched a N$150 billion domestic medium-term note (DMTN) programme to raise funds in the South African capital market. The programme allows FirstRand to issue a range of unsecured debt instruments.  It enables the group to raise up to N$150 billion in total outstanding nominal value, unless the limit is increased under the programme’s terms. In Namibia, FirstRand Namibia Group owns FNB Namibia and RMB Namibia. Notes under the programme may be issued on a continuous basis. They may be structured as senior or subordinated instruments. Some notes may qualify as regulatory capital or FLAC (FirstRand…