Observer Money

Staff Writer Bank Windhoek has appointed Deolinda Shikalepo as head of procurement, effective 1 January 2026. Shikalepo has more than ten years of experience in procurement. Her background includes contract management, compliance, supplier relationship management and tender administration. She has worked in financial services, manufacturing and fast-moving consumer goods. She progressed from operational procurement roles to senior leadership positions. In these roles, she oversaw high-value contracts, led tender processes and implemented cost-control measures. In her new position, Shikalepo will provide strategic direction and governance oversight for the bank’s procurement function.  She will manage the full procurement cycle, including sourcing, contracting,…

Chamwe Kaira  Anglo American has again reduced the value of De Beers, booking a US$2.3 billion (about N$43.7 billion) pre-tax impairment that weighed heavily on its 2025 financial results. The impairment contributed to a loss attributable to equity shareholders of US$3.7 billion (about N$70.3 billion) for the year. De Beers’ book value previously stood at US$4.1 billion (about N$77.9 billion). The details are contained in Anglo American’s full-year results for 2025, released on 20 February 2026. In simple terms, an impairment means the company has reduced the book value of an asset because it believes the asset is now worth…

Chamwe Kaira Monetary policy in Namibia is expected to remain cautiously supportive in 2026 as the Bank of Namibia continues with a data-driven approach after easing interest rates in 2024 and 2025. Inflation remains contained and domestic demand is recovering at a slow pace. The central bank is expected to support growth while protecting external stability and the currency peg. Simonis Storm said in its 2026 economic outlook that after cumulative rate cuts brought the repo rate to about 6.50% by late 2025, there is room for further easing. The firm expects up to two additional cuts of 25 basis…

Chamwe Kaira Koryx Copper Inc. has released new drilling results from its Haib Copper project in southern Namibia. The company reported test results from 13 drill holes covering nearly 5,000 metres. The work forms part of Phase 2 and Phase 3 of its 2026 exploration and development programme at Haib, which Koryx fully owns. Haib is planned as a large open-pit copper mine. Koryx aims to produce an average of 88,000 tonnes of copper per year over a projected 24-year mine life. The process would involve crushing and milling the ore before using flotation to produce copper concentrate. A preliminary…

Chamwe Kaira As the 2025/26 maize marketing year approaches its close in April 2026, South Africa’s maize exports continue, but at a slower pace than expected. Economist Wandile Sihlobo said recent trade data shows exports have not moved as quickly as anticipated. “I was looking at South Africa’s grain trade data and thought I’d make a few remarks about the slow pace of exports based on recent trends,” Sihlobo said in his February analysis on South African maize trade. More than two-thirds of maize exports this season have gone to countries in the Southern African region. Zimbabwe, Botswana, Namibia and…

Mally Likukela Minister of Finance, Hon. Erica Shafuda announced last week that she will present the national Budget 2026-27 on Thursday, February 26.  Understanding the budget speech First and foremost, citizens must understand that the budget statement is not “The Budget” as is commonly known, but it is just one of the documents in a set of several other documents that the Minister presents (or tables) to Parliament. The Budget Speech together with other documents is aimed to explain the Government’s plan for revenue, spending, borrowing and taxation down to the last dollar.  Structure of the budget speech To be…

Staff Writer Old Mutual has appointed Pieter Moller as head of broker distribution within its personal finance business. His appointment takes effect on 1 March 2026. Moller has experience across the financial services sector. His career includes roles in distribution leadership, business development, strategic partnerships and operations.  He previously held senior positions at Old Mutual, including head of distribution: retail mass market, chief operating officer and head of business development at Old Mutual Investment Group Namibia, and retail advice centre manager. He holds a BA (Law), an LLB and an MBA. He has also completed executive programmes in management and…

Staff Writer SPAR Group Limited has confirmed it has been served with a summons linked to alleged claims arising from the SAP implementation at its KwaZulu-Natal distribution centre. The amount claimed now exceeds the initial R5 million. The group said most affected KZN retailers have reached amicable settlements, and service levels at the distribution centre have stabilised. SPAR has revised its SAP rollout strategy. It will now focus on capability enablement instead of distribution centre integration. During the current financial year, the finance function will move to a single SAP environment with one unified chart of accounts. For the 18…

Chamwe Kaira  Tourism revenue is expected to remain above N$3.5 billion in 2026 as Namibia strengthens its premium, experience-driven positioning in global travel markets, according to the Simonis Storm economic outlook for 2026. The report says the services sector continues to provide stability, with growth of around 4%, supported in part by the resilience of tourism. Namibia’s economy is entering 2026 in a different position from the immediate post-shock recovery years. The focus has shifted from rebound to consolidation, as policymakers and investors navigate a more stable but constrained growth environment. Headline projections from the Bank of Namibia, the IMF…