Observer Money

Staff Writer  Koryx Copper Inc. has completed its corporate move from British Columbia to the Grand Duchy of Luxembourg.  The continuation was carried out under section 308 of British Columbia’s Business Corporations Act, authorised by the Registrar of Companies and approved by shareholders at a special meeting on 15 October 2025.  The company will now operate as Koryx Copper S.A., pending final approval from the TSX Venture Exchange. The TSX-V has already given conditional approval for the transition. As part of the move, the company strengthened its board with two new independent directors, Cristina Lara and Tarik El Hanch.  Lara…

Chamwe Kaira  The Bank of Namibia (BoN) plans to introduce an Instant Payment Platform (IPP) in 2026 to support fast, low-cost digital payments.  BoN governor Johannes !Gawaxab said the system will help freelancers and small creative businesses access income and markets more easily.  He spoke during a discussion on “Unleashing the Power of the Creative Industry” held in Windhoek this week. The bank is also reviewing collateral rules, exploring intellectual property–based lending, and promoting innovation-friendly regulation through the Namibia Regulators Forum. !Gawaxab said Namibia’s future depends on the imagination, innovation and ingenuity of its people, not only on minerals or…

Chamwe Kaira  Revenue performance for the 2025/26 financial year has fallen below initial projections due to external and cyclical factors outside Namibia’s control, the Ministry of Finance has said. Executive director Michael Humavindu said the shortfall has slightly widened the fiscal deficit and will require additional financing for the rest of the year. He said the government remains committed to raising capital in a responsible and sustainable way to meet its obligations and support economic activity. The ministry will continue to adopt proactive, disciplined and transparent debt management practices. “The government remains committed to protecting fiscal stability while ensuring that…

Chamwe Kaira  Africa Bitcoin Corporation Limited has expanded its cryptocurrency treasury after acquiring more Bitcoin.  The company, listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), said its subsidiary Africa Bitcoin Strategies bought 0.6833 Bitcoin on 7 November. The Bitcoin was purchased at an average price of N$1.77 million per coin, bringing the total transaction cost to N$1.21 million, including all fees.  The purchase was made through the VALR over-the-counter trading desk and funded from the company’s recent equity capital raise of N$4.05 million. Africa Bitcoin Corporation now holds 3.1949 Bitcoin in total, with a combined…

Staff Writer  Venture capital and private equity can drive business growth, create jobs, and support innovation, the Economic Association of Namibia (EAN) said during a public discussion held in partnership with the Hanns Seidel Foundation.  The event, titled “Investing in Potential: How Venture Capital and Private Equity Can Drive Namibia’s Economic Transformation”, brought together private sector leaders, investment professionals and civil society members. The discussion focused on how venture capital and private equity can help Namibian enterprises grow, diversify the economy and ensure strong governance and developmental impact.  Speakers highlighted that access to finance remains one of the biggest barriers…

Chamwe Kaira  The Johannesburg Stock Exchange (JSE) has been referred to South Africa’s Competition Tribunal for alleged anti-competitive conduct, the bourse said this week.  The referral follows an announcement made by the Competition Commission on 9 November after it submitted a non-confidential version of its referral affidavit on 1 October 2025. The Commission did not release further details in its public statement. The case originates from a complaint filed in October 2022 by A2X Proprietary Limited.  A2X claims that the JSE is misusing its powerful position by using unfair methods related to its broker dealer accounting (BDA) system and the…

Chamwe Kaira  Namibia’s civil aviation sector has recorded strong progress over the past year, with the Namibia Civil Aviation Authority (NCAA) reporting major financial and operational gains.  The authority said the 2024/25 financial year marked a defining period of confidence and transformation in the aviation sector. Minister of works and transport, Veikko Nekundi praised the sector’s contribution to economic diversification and regional integration.  “I look forward to building on these achievements in the years ahead, as we work collectively towards realising our vision for a resilient and dynamic transport and logistics hub for Namibia,” he said. Aligned with the sixth…

Chamwe Kaira  Reconnaissance Energy Africa Ltd. (ReconAfrica) says it has made strong progress at its Kavango West 1X exploration well in northeastern Namibia. The Canadian oil and gas explorer reported that the well has exceeded expectations in depth and early results. Brian Reinsborough, president and chief executive officer of ReconAfrica, said he was pleased with the operation.  “I want to thank everyone working on the Kavango West 1X well. Drilling has been carried out safely and efficiently. Early indications from the well are very encouraging, with multiple oil and gas shows and strong, consistent natural gas markers observed throughout the…

Staff Writer  Standard Bank Namibia has upgraded its digital personal loan service as part of its push to expand responsible lending and improve financial access.  The enhanced platform allows clients to apply for and top up loans instantly through Internet Banking or Cellphone Banking by dialling 1402345#. No paperwork, branch visits, or internet access are required. The bank said the improvements support national efforts to address financial exclusion, especially in rural and underserved areas.  Many Namibians still struggle to access basic financial services, a challenge the bank aims to reduce through digital innovation. “Our enhanced Digital Lending platform is designed…

Chamwe Kaira  The Ministry of Finance must work with Parliament to fast-track the Public Finance Management Bill to ensure that the country's public debt remains sustainable, the chairperson of the Parliamentary standing committee on economy and industry, public administration and planning has said.  Shiimi called for close monitoring of Namibia’s reclassification by the World Bank to a lower-middle-income status. He urged the Ministry of Industrialisation and Trade to finalise and table the International Trade Management Bill and the Investment Promotion Bill while strengthening collaboration with the private sector to boost job creation. These recommendations are contained in a report tabled…