Observer Money

Chamwe Kaira Namibia recorded a trade surplus of N$856 million in June, up from a revised surplus of N$341 million in May and compared to a deficit of N$762 million in June last year, statistician general and Namibia Statistics Agency CEO Alex Shimuafeni said. China was Namibia’s top export destination, while South Africa remained the main source of imports. Exports were dominated by mining commodities including uranium, non-monetary gold, diamonds, and copper. Fish was the only non-mineral product among the top five exports. Shimuafeni said re-exports fell by 5% month-on-month and 7.9% year-on-year. The re-export basket mainly comprised copper, nickel…

Chamwe Kaira The Langer Heinrich Mine recorded revenue of U$177.7 million in the 2025 financial year, Paladin Energy announced this week. The sales represented 2.7 million pounds of uranium oxide. The company said cost of sales stood at U$191.7 million, reflecting the ramp-up of operations. Commercial production at the mine resumed in March 2024, and operations ramped up steadily through 2025. The mine processed more than 3.6 million tonnes of ore during the year, producing 3 million pounds of uranium oxide. “The average plant recovery rate of 84% reflects the steady progress made during the year as the LHM team…

With less than a week to go before the Alliance for Financial Inclusion (AFI) Global Policy Forum (GPF) 2025, the Bank of Namibia said this week that 800 delegates from across the African continent and beyond, will attend the forum to be held in Swakopmund.  Naufiku Hamunime, acting deputy director of corporate communications and sustainability said the forum, convening under the theme “Empowering Society, Enabling Growth,” represents one of the most significant financial inclusion gatherings globally and on the continent. She said the forum comes at a pivotal time for Namibia’s financial sector. On 28 July, the Bank of Namibia,…

In an address to the standing committee on economy and industry, public administration and planning of the National Assembly recently, Titus Nampala, Chief Executive Officer of the Namibian Chamber of Commerce and Industry (NCCI), said the chamber must be seen not only as a convener but as a catalyst for inclusive economic transformation.” Nampala emphasised that the chamber’s renewed focus will facilitate that its members, from large corporates to MSMEs, are heard, represented and empowered.  “The chamber is here to amplify the voice of every Namibian business, big or small and to ensure that our policy environment reflects the realities…

Chamwe Kaira The Producer Price Index (PPI) for production recorded declines in the second quarter, dropping by -3.1% quarter-on-quarter and -2.5% year-on-year. The drop was mainly driven by falling manufacturing prices, which contracted by 9.3% compared to the previous quarter. Statistician general and Namibia Statistics Agency (NSA) chief executive officer, Alex Shimuafeni, said the annual decline was mostly influenced by lower prices in the mining and quarrying sector, which fell by 5.1%. The PPI tracks average changes in prices received by domestic producers for goods and services sold locally and abroad. Despite the annual decline, the index for mining and…

Chamwe Kaira The Bank of Namibia’s government bond auction on Wednesday recorded bids over  N$3 billion against an initial offer of N$2 billion. The GC35 recorded  the highest demand, with tenders of N$585 million, or 24% of the total. Allocations reached N$312 million, double the initial offer of N$160 million.  The GC40 also drew interest of N$214 million against an offer of N$140 million, but no allocation was made. Across the GC board, N$1.5 billion was offered, yet N$1.7 billion was allocated, resulting in an overallocation. “It is interesting to note that the GC40 also attracted significant interest of N$214…

Chamwe Kaira Windhoek Gymnasium, Walvis Bay Gymnasium and Oshana Gymnasium, the three schools jointly owned by Johannesburg Stock Exchange (JSE)-listed Curro Holdings Limited, could soon have a new owner. Curro announced to shareholders on the JSE that its board has received a firm intention offer from the Jannie Mouton Trust.  The trust, through Stigting, plans to acquire all issued Curro shares and delist the company from the JSE. Billionaire Jannie Mouton, founder of PSG Group and Capitec, owns the trust and has offered N$7.2 billion for the shares. He established the trust in 2004 to invest in education. Since then,…

Chamwe Kaira  HyIron Green Technologies (Pty) Ltd will explore sourcing high-potential iron ore domestically and process it using its established green hydrogen-powered technology under a new Memorandum of Understanding (MoU) signed with Broadmind Mining (Pty) Ltd and the Namibia Green Hydrogen Programme (NGH2P). The agreement aims to build a sustainable, low-carbon green industrial value chain in Namibia.  It will also strengthen the country’s mineral beneficiation capacity and support its goal of becoming a green industrial hub in Africa. The partnership will focus on Broadmind’s critical mineral assets, including rare-earth elements and iron ore, alongside HyIron’s green direct reduced iron (DRI)…

Chamwe Kaira Nedbank Group CEO Jason Quinn says Namibia’s dual economy means digital payments are becoming common in cities, while cash remains dominant in rural areas. He said this is not because people resist change but because available tools have not always met the realities on the ground. “Limited connectivity, the cost of devices, and a lack of locally relevant solutions have been real barriers. We didn’t simply copy and paste a global solution,” Quinn said. According to the Bank of Namibia’s 2024 Annual Report, e-money transactions increased to N$43.7 billion in 2024 from N$37.7 billion in 2023.  Transaction volumes…