Observer Money

Chamwe Kaira Paladin Energy Ltd has released its Annual Information Form for the year ended 30 June 2025, outlining mining, processing, and sales targets for the Langer Heinrich Mine (LHM) current financial year. The Namibian uranium mine, Paladin’s only operation currently in production, entered the 2026 financial year with 2.2 million tonnes of medium-grade ore stockpiled.  About 49% of the planned mining fleet is in use, with the rest expected to arrive later this year and be fully commissioned in the second half of the financial year. Mining will focus on the G-pit, with limited activity in the F and…

Namibia’s headline inflation slowed to 3.2% year on year in August, marking the lowest rate so far this year.  While this continues the disinflationary trend seen since late 2023, the outlook suggests that inflation will gradually pick up again toward 3.7% to 3.9% by December, as several pressures begin to build. Food inflation remains the main driver, holding steady at 5.2% year on year. Strong increases in fruit, meat, and vegetables continue to weigh heavily on household budgets, and global trends are not offering much relief. The latest FAO Food Price Index shows renewed strength in vegetable oils and meat,…

Chamwe Kaira Oryx Properties  says construction of the Goreangab Mall development in Windhoek is on track for completion in April 2026.  The 14 500-square-meter mall will  serve the Goreangab suburb, the greater Katutura area, and surrounding communities.It will host more than 40 tenants and be anchored by Shoprite with 60% of the lettable space has already been secured.  “The mall is expected to enhance employment prospects significantly, with approximately 340 jobs created during construction, followed by 360 opportunities once it is operational. The development is expected to be completed by April 2026,” the group said. The shopping centre is the…

Chamwe Kaira Nedbank Namibia has signed a funding deal with Achill Island Investments (Pty) Ltd to support the expansion of horticultural production in the Aussenkehr Valley.  The partnership will back agricultural growth and promote sustainable farming in the south of the country. The funding will assist Achill Island Investments and its sister farm, Silverlands Vineyards, in growing their operations and strengthening sustainable practices.  Together, the farms cultivate more than 900 hectares of table grapes and date palms under the Silverlands brand. They employ about 4 000 people during peak season and supply premium produce to global markets. Silverlands Namibia forms…

Staff Writer Construction activity remained modest in Windhoek and Swakopmund during August, reflecting uneven momentum in both regions, according to Macro Pulse, an analyst at Simonis Storm Securities. Windhoek recorded a slowdown in approvals, dropping from 261 in July, the highest monthly figure this year, to 176 in August. Swakopmund saw a similar trend, with approvals declining from 99 to 81 over the same period.  From January to August, Windhoek averaged 171 approvals per month, while Swakopmund averaged 68, underscoring Windhoek’s role as the country’s primary growth hub. “However, Swakopmund’s gradual improvement compared to historical averages signals that the coastal…

Staff Writer Reconnaissance Energy Africa Ltd (ReconAfrica) has expanded its portfolio with an entry into Gabon’s offshore oil and gas sector.  The company signed a production sharing contract and joint venture agreement with Gabon Oil Company (GOC) and Record Resources Inc. The deal covers Block C-7, renamed Ngulu, located in shallow waters offshore central Gabon. ReconAfrica will operate the block with a 55% working interest. Record Resources holds 20%, GOC 15%, and the Republic of Gabon a 10% carried interest. Ngulu covers 1 214 square kilometres and lies close to producing fields with reserves of between 38 million and 250…

Staff Writer MTC Maris and the ministry of information and communication technology (MICT) are exploring collaboration to accelerate digital transactions.  The financial technology company, a subsidiary of MTC Namibia, paid a courtesy visit to ICT minister Emma Theofelus to introduce its operations and discuss potential partnerships. Led by board chairperson Jerome Namaseb, the MTC Maris team presented the company’s new innovations and solutions.  The discussions looked at possible cooperation through the upcoming Mega Hackathon, financial education initiatives, and joint efforts with other government departments to expand digital services across government. “The future of e-money in Namibia is where we are…

Chamwe Kaira The Namibian Competition Commission (NaCC) has unconditionally approved the takeover of Barloworld Limited’s operations in Namibia by Newco. “The parties therefore confirm that the standby offer condition relating to the receipt of approval from the Namibian Competition Commission has been fulfilled,” the company said. Barloworld and Newco announced the proposed deal on 28 February. Since then, the parties have been securing approvals from regulators across the region.  On 26 August, the Botswana Competition and Consumer Authority informed the two companies that it had unconditionally approved the implementation of the Newco offer.  “The parties therefore confirm that the standby…

Chamwe Kaira  Oryx Properties Limited profit for the year ended 30 June dropped to N$90 million compared to N$416 million last year. The company said reported profit, earnings per share, and headline earnings were hit mainly by the derecognition of deferred tax assets. This followed legislative changes that limit the carry-forward period for assessed losses to five years. “Although further amendments may be required on an annual basis, they are not expected to be material relative to the adjustments made in the current year. Had these legislative changes not occurred, the Group’s profit for the year, earnings per share, and…

Chamwe Kaira FirstRand Namibia reported a net profit after tax of N$1.9 billion for the year ended 30 June 2025, up 12.2% from N$1.7 billion in 2024. The group  said the results were driven by customer growth, higher transaction volumes, and effective cost containment despite rising impairments. Return on equity improved to 28.6% from 27.8%. Net asset value per share rose to 2,676 cents from 2,329 cents. A dividend of 476.34 cents per share was declared, representing a 34.7% year-on-year increase.  “We are pleased with our progress on the key drivers of shareholder value creation. Our performance reflects disciplined financial…