Observer Money

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…

Chamwe Kaira  Pension funds remained the largest investors in the local market, with holdings worth N$18.6 billion in 2024.  Domestic investments attracted the highest allocations, followed by the common monetary area and offshore markets.  The increase in domestic assets was linked to regulation 13(2) of the Pension Funds Act, which requires pension funds to allocate a minimum of 45% of assets to the domestic market from 31 March 2029. “The focus on the local market prompted investment managers to rebalance their portfolios, shifting allocations towards fixed-income assets. This shift was largely driven by perceived illiquidity in the local equity market,”…

Chamwe Kaira  The tourism industry is expected to expand by 5.5% in 2025, generating N$4.6 billion in revenue. Growth will be supported by targeted marketing campaigns and better international connectivity. Hotels and restaurants are projected to surpass 2019 levels during the third-quarter peak season, highlighting tourism’s key role in the services sector.  Retail trade, which grew by 5.2% in the second quarter, is also likely to recover in the first half of the year if investment spending remains resilient, said Almandro Jansen, an analyst at Simonis Storm Securities. Jansen said Namibia’s challenge is to turn investment inflows and strong external…

Chamwe Kaira  Consumers received N$11.8 million from 87 complaints lodged against non-banking financial institutions with the Namibia Financial Institutions Supervisory Authority (Namfisa) in the 2025 financial year.  The payouts dropped from N$14.7 million in 2024. NAMFISA said its intervention contributed to the decline. The largest recoveries came from pension funds with N$7.2 million, followed by long-term insurance at N$3.1 million, short-term insurance at N$1.3 million, medical aid funds at N$149 534, microlending at N$55 554, and capital markets at N$24 659. “Despite the decrease in almost all the industries when compared with 2023, the complaints against the long-term insurance industry,…

Chamwe Kaira  FNB Namibia is positioning itself as an early financial partner to the country’s emerging oil and gas sector.  The industry is expected to reshape Namibia’s growth outlook and create significant financing opportunities over the next decade. For FNB, this is a strategic move to expand revenues and diversify beyond its traditional retail and corporate lending model.  “The ability to provide project financing, working capital, and bespoke solutions across the value chain could materially expand revenues,” said Max Rix, an analyst at Simonis Storm Securities. Rix said supply chain financing and cash-management solutions are likely to become critical for…

The global financial crisis of 2008 froze the financial system. Banks pulled back credit, families tightened their belts and companies laid off workers. It was a frightening time for everyone and an extremely difficult moment for the financial services industry. Today, the landscape of finance is quite different. Different types of investors and firms are providing businesses, consumers and governments with credit and liquidity. More than a billion more people have access to credit thanks largely to newer tech-based lenders. Families also have more options to finance purchases and to diversify retirement portfolios. Equity, fixed income, and derivatives markets have…

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector remains broadly positive, supported by strong global demand for gold and uranium.  In a quarterly report, the Chamber noted that elevated gold prices are boosting profitability and fiscal contributions, while uranium continues to benefit from its critical role in the global energy transition. “This positive price environment strengthens the investment case for new and advancing projects, such as Bannerman Energy’s Etango-8 uranium development and Reptile Mineral Resources’ Tumas uranium project, while providing favourable conditions for the construction of Osino’s Twin Hills gold project,” the…