Observer Money

Chamwe Kaira  Bannerman Energy says early construction works at the Etango uranium project are on track with both budget and schedule.  The executive chairman of Bannermann Brandon Munro said detailed design work on the Etango process plant is progressing well, with dry plant engineering now about 86% complete. “I am pleased with the on-time, on-budget progress that the Bannerman team is achieving in conjunction with our contractors. Our focus on tight contract and activity controls continues to be consistently applied by the team,” Munro said. The bulk earthworks contract, awarded in August 2024 for a 24-month period, is 42% complete…

Chamwe Kaira  Deep Yellow, the developer of the Tumas uranium project in the Erongo Region, said firm volume and price offers have been received from NamWater and NamPower at or below those assumed in the 2025 definitive feasibility study. “The power and water supply contracts are being finalised and are expected to be executed during the fourth quarter of the 2025 calendar year. Ongoing work continues to reinforce Tumas as a robust project and one of the most advanced greenfield uranium development projects available globally,” the company said in its annual report. During the first half of 2025, Deep Yellow…

Allexer Namundjembo The Bank of Namibia (BoN) has welcomed the decision by commercial banks to reduce the spread between the repo rate and prime rates, including mortgage and other lending rates.  The move follows the central bank’s guidance to cut the margin by 25 basis points. The adjustment is being rolled out in two phases. The first reduction of 12.5 basis points took effect on 30 September 2025.  A further 12.5 basis point cut is expected by 31 December 2025. “This policy measure aims to narrow Namibia’s historically wide interest rate margins, thereby making credit more affordable for households and…

Staff Writer  African Export-Import Bank (Afreximbank) has signed a facility agreement with NBS Bank Plc Malawi to provide a US$100 million Afreximbank Trade Facilitation Programme (AFTRAF) line of credit.  The facility will support NBS Bank’s growing trade finance portfolio and enable it to continue meeting the needs of its trade clients. The agreement was signed on the sidelines of the Intra-African Trade Fair 2025 by Haytham El Maayergi, Afreximbank executive vice president, Global Trade Bank, and Temwani Simwaka, chief executive officer of NBS Bank.  The facility is designed to increase NBS Bank’s trade volumes and support imports of essential commodities…

Chamwe Kaira Namibia’s total debt stock is expected to dip in October when a US$750 million eurobond is repaid but rise again to reach N$172.4 billion by the end of the 2025/26 financial year, equal to 62% of gross domestic product (GDP). According to the Bank of Namibia’s September quarterly bulletin, central government loan guarantees as a share of GDP declined by one percentage point to 3% at the end of June.  The debt stock stood at 61.7% of GDP at the end of June 2025, compared to 62.7% recorded during the same period in 2024. In nominal terms, government…

Chamwe Kaira The Bank of Namibia’s (BoN) stock of international reserves fell by 1.9% in August to N$57 billion. The central bank attributed the decline to increased government foreign payments and withdrawals of customer foreign currency by commercial banks. “This level of international reserves translates into 3.7 months of import cover, whereas the import cover excluding oil exploration and appraisal activities stood at 4.2 months,” BoN said. Broad money supply (M2) growth slowed to 10.2% in August from 10.4% the previous month.  “The slight decrease in M2 growth was underpinned by the slowdown in the growth rate of domestic claims…

Chamwe Kaira Hospitals, pharmacies, medical specialists, and general practitioners received the largest share of healthcare spending in 2024, accounting for 70.9% or N$3.6 billion of total benefits paid by medical aid funds. Hospital claims were the highest at N$1.8 billion, followed by pharmacy claims for medicines dispensed at N$802 million.  Claims by specialists amounted to N$563.2 million, while general practitioners received N$473.1 million. The Namibia Financial Institutions Supervisory Authority (Namfisa) reported that the country’s medical aid funds industry remained unchanged in 2024, with seven active funds in the market.  Of these, five were open funds, representing about 71% of the…

Staff Writer  Rhino Resources, together with its joint venture partners Azule Energy, the National Petroleum Corporation of Namibia (Namcor) and Korres Investments, has announced a gas discovery at the Volans-1X exploration well on Block 2914A, Petroleum Exploration Licence (PEL) 85, offshore Orange Basin. PEL 85 is operated by Rhino Resources with a 42.5% working interest. Azule Energy also holds 42.5%, while Namcor has 10% and Korres Investments 5%. The Volans-1X well was spudded on 31 July 2025 using the Northern ocean semi-submersible deepsea mira and reached a total depth of 4,497.5 metres TVDSS on 30 August 2025.  The well successfully…

Chamwe Kaira Paratus Namibia has invested N$471.4 million in infrastructure, up from N$204.3 million the previous year.  Of this, N$381.2 million was allocated to its mobile project for equipment, site builds, and digital software to support operations. During the build year of its mobile network, the company increased its mobile base stations by 256%, expanding coverage to more than 70% of Namibia’s population.  The remaining capital expenditure was focused on connecting customers and enhancing network capacity. Paratus also refinanced a N$30 million note that matured on 16 September and secured an additional N$100 million in notes under the same programme…

Staff Writer  The Bank of Namibia (BoN), along with financial institutions, regulators and industry associations, launched the Namibia Sustainable Finance Alliance (NSFA) this week. The alliance brings Namibia’s financial sector together to advance sustainability, strengthen climate resilience and support inclusive growth. Speaking at the launch, the deputy governor of the Bank of Namibia and chairperson of the alliance, Ebson Uanguta, said, “The Namibia Sustainable Finance Alliance represents a clear demonstration of the collective resolve of our institutions to address one of the most defining challenges of our time: embedding sustainability and climate resilience into the financial system.” The NSFA is…