Observer Money

Chamwe Kaira  Namibia needs higher economic growth to reduce unemployment and inequality, the African Development Bank has said. Real GDP is expected to grow to 3.8% in 2025 and 3.9% in 2026. The recovery is linked to improved weather conditions and activity in the natural resources sector. The sector includes petroleum exploration and increased uranium production, supported by higher global commodity prices. “A recovery is also evident in tourism, transport and storage, financial services, and electricity generation. Growth prospects are expected to be bolstered by developments in the green hydrogen industry, increased investment in oil and gas, and infrastructure expansion.…

Staff Writer  Stockbroking firm Simonis Storm has maintained its buy recommendation on SBN Holdings following the bank’s 2025 financial results. The firm said the bank delivered higher earnings despite pressure on margins, weaker non-core revenue and a subdued economic environment. Asset quality improved during the year. Excess liquidity was redirected into customer lending, which strengthened the balance sheet. SBN reported a profit after tax of N$1.187 billion, extending the level reached in 2024 when it passed N$1 billion in annual earnings. Simonis Storm said the bank’s performance shows it can deliver earnings across different market conditions. “The debate is no…

Staff Writer  Plans to position Windhoek as a startup hub are gaining momentum following a new initiative launched last week. Grindstone, co-owned by Knife Capital and Thinkroom, joined ecosystem partners in Windhoek to launch the initiative under the banner Accelerate 36. The event brought together policymakers, regulators, investors and founders to explore how Namibia can grow its startup sector and expand access to capital. The initiative focuses on building a pipeline of startups that can scale and eventually list on the Development Capital Board of the Namibia Securities Exchange (NSX). “We have the influence, brainpower, and energy in this room…

Staff Writer  Old Mutual Limited has said the global environment is likely to remain uncertain, shaped by uneven growth and ongoing heightened geopolitical risks.  Against this backdrop, the South African outlook has become more constructive, supported by the 2026 national budget, which reaffirmed a commitment to fiscal discipline.  With public debt projected to stabilise and decline over the medium term, alongside a sustained primary surplus and targeted relief for households, these conditions will provide a more supportive foundation for confidence and investment.  Looking forward, Old Mutual said from 2026, it will measure and report the delivery of its value creation…

Chamwe Kaira  Micro, small and medium enterprises (MSMEs) continue to face structural challenges despite their role in creating jobs and supporting incomes. A study by the African Development Bank (AfDB) says the sector is affected by limited skills, weak market penetration, high financing costs, restricted access to land and low levels of technology use. The report says MSMEs also face infrastructure gaps, limited business support services and relatively low levels of entrepreneurship. These factors continue to slow the sector’s growth. More than 70 000 MSMEs operate in Namibia. The sector contributes about 12% to the country’s gross domestic product and…

Chamwe Kaira  Paladin Energy is increasing production at the Langer Heinrich Mine as the company moves through the final stage of its ramp-up plan. The company said 2.3 million pounds of uranium oxide (U₃O₈) were produced during the first half of the 2026 financial year. Production for the full financial year is expected to reach the upper end of the guidance range of 4 million to 4.4 million pounds. Paladin stated that the rising global demand for nuclear energy supports the ramp-up. The company said demand is being driven by the existing nuclear reactor fleet, reactors under construction and the…

Chamwe Kaira  The imposition of a 15% tariff on Namibian exports by the United States reduced Namibia’s trade surplus with the US during the first half of 2025. This was revealed in the Namibia country strategy paper for 2025–2030 released by the African Development Bank in Windhoek last week. The report states that Namibia’s trade surplus with the United States declined to about N$331 million in the first half of 2025, down from about N$416 million during the same period in 2024. The tariff affected key export sectors such as diamonds, marble and salt. Diamonds were previously exported duty-free under…

Staff Writer  Nedbank Namibia has appointed John James Tromp as head of consumer banking, effective 1 March 2026. The consumer banking portfolio includes private banking, private wealth, retail banking and lending. The bank said Tromp previously served as head of business banking. In that role, he worked with business clients across the country and gained experience in how financial services affect both households and businesses. Nedbank said this experience gives him insight into the link between household financial stability and wider economic activity. The bank said the appointment comes at a time when financial inclusion, responsible lending and access to…

Chamwe Kaira  The drafting of the Cybercrime Bill has been completed and the legislation is expected to be submitted to Parliament this month. The bill was prepared after consultations with key stakeholders and will undergo a validation workshop before submission. This information was revealed in the estimates of revenue, income and expenditure released by the Ministry of Finance as part of the 2026/27 national budget. The document also states that the Data Protection Bill has already been approved by the cabinet committee on legislation. The bill has been forwarded to the Ministry of Justice and Labour Relations for further review.…

Pepkor is seeking a banking chief as Africa’s biggest seller of clothing and mobile phones plans to open branches using its store network in South Africa to reach millions of lower-income customers. The senior leader will be responsible for driving the shift to a “fully integrated transactional-banking model” across more than 2 500 outlets in South Africa, the Cape Town-based company said in a job posting dated 11 March. “This is a critical role that demands an entrepreneurial spirit, a deep understanding of retail banking, and the ability to execute large-scale strategic initiatives,” the company said. Pepkor got approval last…