Observer Money

Chamwe Kaira  Finance minister Ericah Shafudah has defended Namibia’s 2026/27 national budget, saying it balances fiscal discipline with the need to protect essential services and support economic recovery. Speaking during the second reading of the appropriation bill, this week Shafudah said the budget does not introduce broad-based tax increases. She said it aims to stabilise revenue without adding pressure on households and businesses. She acknowledged concerns about Namibia’s reliance on Southern African Customs Union (SACU) revenues, which make up about a quarter of total income.  She said this remains a structural risk and that government plans under the sixth National…

Chamwe Kaira  Koryx Copper has reported an increase in the estimated copper at its Haib project in southern Namibia, raising the total from 2.6 million tonnes to 3.5 million tonnes. The company said the higher estimate could extend the life of the project.  Haib is planned as a large open-pit mine where copper will be extracted and processed on site. It is expected to produce about 9 000 tonnes of copper per year. An earlier study showed the project could be viable. The updated figures point to a longer mine life and an improved outlook. Koryx Copper chief executive Heye…

Chamwe Kaira  The African Development Bank has provided N$400 million to support a new women-focused financing initiative by the Development Bank of Namibia (DBN) aimed at boosting women’s participation in the economy. The initiative, called DBN For Her, was launched in Windhoek this week. It is designed to support businesses that are fully owned by women by giving them access to funding to start, grow and expand. Finance Minister Ericah Shafudah said the programme responds to barriers that limit women’s economic participation. “DBN For Her represents a deliberate and strategic response to structural imbalances in our economy. It is not…

Chamwe Kaira  Africa Bitcoin Corporation Limited (ABC) has proposed a share split and changes to its memorandum of incorporation, a move that will affect its listing on the Namibian Stock Exchange. The company, which is listed on the JSE Limited and the NSX under the code BAN, plans a three-for-one subdivision of its ordinary shares. Under the proposal, shareholders will receive three shares for every one they currently hold. The change will not affect ownership or the company’s overall value. The board said the aim is to improve liquidity and make the shares more accessible to investors.  A lower share…

Staff Writer Ultimate Safaris has continued its international guide exchange programme, marking its fourth year and investing more than N$400 000 since it began. Each year, the “Ultimate Guide of the Year” travels to Baja California in Mexico for a three-week experience with Todos Santos Eco Adventures. Peter Nuugonya, the 2025 winner, took part in the programme this year. He grew up in a village near Ondangwa, where he learned to track animals from a young age. Nuugonya started his career at Sossusvlei Desert Lodge in the NamibRand Nature Reserve as a barman before moving into guiding. Over time, he…

Chamwe Kaira  Woolworths Holdings Limited has awarded incoming Group CEO Sam Ngumeni a once-off share award valued at about R69.7 million. The award includes 995,715 shares bought on the open market by the Woolworths Holdings Share Trust.  Based on a share price of about R70, the total value is just under R70 million. The shares form part of a performance-based incentive. They will vest over five years until June 2031 if set targets are met. These targets include share price growth, headline earnings per share and returns on capital employed. The shares will be held in escrow during the vesting…

Retuura Ballotti Namibia continues to distinguish itself as a continental leader in gender equality, supported by strong national institutions and sustained policy reforms. Research from the African Development Bank’s 2025 Gender Brief places Namibia among the top three African countries with the least gender disparity, driven by consistently high education completion rates among girls and a growing presence of women in strategic decision‑making roles. Women make up 51.8% of the national population, and the country’s empowerment and representation scores outperform continental averages, underscoring a social environment that increasingly supports gender equity. This national trajectory provides a fertile foundation for organisations…

Chamwe Kaira  Namibia Breweries Limited (NBL) anticipates its operating profit for the twelve months ended 31 December 2025 is expected to decline by 10% to 15%. NBL said the comparison is affected by its change in financial year-end in March 2024, which resulted in an eighteen-month reporting period for 2024. It said the prior period is not directly comparable. On a like-for-like twelve-month basis, the group reported operating profit growth of between 35% and 45%, reflecting performance after its merger. Headline earnings per share and basic earnings per share are expected to decrease by less than 5%. NBL said the…

Chamwe Kaira  Losses in Namibia have pushed up Choppies Enterprises Limited’s effective tax rate as the retailer reported lower profits for the six months ended 31 December 2025. The group said its effective tax rate increased to 22.2% from 17.3% in the previous period. It said this was mainly because it did not recognise deferred tax assets on losses in its Namibian operations. The increase was also influenced by a non-taxable gain linked to the derecognition of payables. Profit for the period declined by 33% to BWP 77 million. Revenue increased by 8.6% to BWP 5.125 billion, supported by retail…

Chamwe Kaira  Old Mutual says Namibian shareholders will receive an interim dividend of 56 cents per share, with payment scheduled for 13 April 2026. The dividend forms part of the company’s interim results announced on 17 March 2026. Old Mutual said shareholders on the London, Malawi and Namibia registers will be paid in local currency equivalents, while those on the Zimbabwean registers will receive US dollar equivalents. For Namibia, the dividend is set at 56 Namibian cents per share, based on an exchange rate of one Namibian dollar per rand. The company said shareholders who are not exempt from dividend…