Observer Money

The Communications Regulatory Authority of Namibia (CRAN) attended and participated at the inaugural meeting of the Communications Regulators' Association of Southern Africa (CRASA) Consumer Committee, hosted by the Independent Communications Authority of South Africa (ICASA). The gathering took place in Johannesburg, South Africa, marking a significant step towards advancing consumer protection initiatives in the Southern African Development Community (SADC) region. The consumer committee meeting was convened to initiate the implementation of the Consumer Committee Operational Plan for 2024/2025. This forum provided a platform for CRASA members to collaborate on addressing critical issues and seizing strategic opportunities related to consumer rights…

The geopolitical conflict in Mozambique comes at a very delicate time for South Africa, when logistics and the supply chain are under pressure from several other disruptive challenges, says Juanita Maree, chief executive of the Southern Africa Association of Freight Forwarders (SAAFF). South Africa’s business sector has voiced concern over the Southern Africa Development Community’s (SADC) slow response, calling on member states to move immediately into a leadership position as mediator, to restore law and order and stabilise trade operations, which are critical to the regional economy. These actions, they assert, are critical to the safety of the citizens on…

Martin Endjala The Kelp Blue project in Lüderitz is setting the stage for a potential agricultural revolution by creating a biostimulant from seaweed. This Namibian company, founded by Daniel Hooft in 2020, cultivates kelp in Lüderitz’s nutrient-rich Shearwater Bay, where the Benguela Current fosters rapid, year-round seaweed growth. Kelp Blue is currently conducting a three-year trial. Operations deputy director manager, Iriya Jona, said it hopes to be in full operation by 2027 when its three-year trial ends as per the Ministry of Agriculture's policies. “The biostimulant we are producing, although still on trial, has yielded good results, particularly for our…

CHAMWE KAIRA Afreximbank is currently considering facilities for two local banks, one for a letter of credit confirmation facility and a second one to act as a Trade Finance Intermediary and Local Administrative Agent. Gwen Mwaba, Managing Director for Trade Finance and Correspondent Banking, Global Trade Bank at Afreximbank explained in an interview that nominated trade finance intermediaries act as its local administrative agents in different African markets. She was speaking on the sidelines of the annual Afreximbank Trade Finance Seminar held in Windhoek. She said the Bank has been holding these seminars since 1999 and added that the idea…

Business executive, Bärbel Kirchner, spoke to Observer Money on behalf of the Namibian Employers Federation (NEF) on the implications of the recently announced minimum wage of N$18 per hour. Observer Money (OM): The government has increased the national minimum wage for all Namibian workers to N$18 per hour, what impact will this have on members of the NEF?Bärbel Kirchner (BK): The Namibian Employers Federation (NEF) foresees significant challenges for employers due to the N$18 per hour minimum wage. Many businesses, particularly in sectors where profit margins are low, will struggle to accommodate this sudden increase. This may force employers to…

CHAMWE KAIRA Namibia’s intra-trade within the African Continental Free Trade Area (AfCFTA) context, saw the country export goods worth N$4,7 billion in September. Over the same period, the country imported goods worth N$7,7 billion from the continent, Namibia Statistics Agency said. The N$4,7 billion intra-Africa exports represent 52,3% of world total whereas Intra-Africa imports of N$7,7 billion represents a share of 51,8% of world imports. On the African continent, Namibia’s exports were mostly absorbed by countries such as South Africa, Botswana, Zambia, DRC and Angola, while imports were mostly derived from the same countries except Angola but including Morocco and…

CHAMWE KAIRA The Bank of Namibia’s stock of international reserves decreased by 3,7% to N$57.1 billion at the end of September, the central bank announced. The decrease in international reserves was mainly due to Customer Foreign Currency (CFC) withdrawals and higher net commercial banks outflows which was driven by high foreign payments by customers. This level of foreign reserves translated into 3,9 months of import cover, exceeding the international benchmark of three months. Notably, the import cover, excluding imports of oil exploration and appraisal activities, stood at 4,6 months at the end of September, relative to 4,8 months recorded at…