Observer Money

Chamwe Kaira Private sector credit extension (PSCE) growth is expected to exceed 6% year-on-year in the fourth quarter, supported by lower lending rates and improved affordability, according to Simonis Storm Securities analyst Almandro Jansen. “The repo rate has been reduced to 6.50% and commercial banks are expected to lower their prime lending rates further by 12.5 basis points before year-end, easing financing costs across mortgages, overdrafts, and installment credits,” Jansen said. PSCE grew by 5.9% year-on-year in September, the highest rate since early 2020.  The growth was driven by strong corporate borrowing in mining, manufacturing, and agriculture, as well as…

Staff Writer Finance Minister Ericah Shafudah described the private sector as the engine of job creation and called for stronger collaboration to improve fiscal performance and reform procurement and tax systems. “A robust domestic capital market is crucial for sustainable development financing,” she said, thanking the banking sector for its role in redeeming Namibia’s Eurobond, which she said showed the country’s financial strength and responsibility. Shafudah made the remarks during the recent FirstRand Namibia mid-term economic breakfast budget review held at the FNB Namibia Parkside Head Office. The event brought together leaders from government and business to discuss the key…

Chamwe Kaira Namibia’s Venus offshore development project is expected to become one of the country’s biggest economic contributors, with potential GDP gains of between N$536 billion and N$800 billion over its 25-year lifespan, according to its environmental and social impact assessment (ESIA). TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners, QatarEnergy International and NAMCOR, hold a Petroleum Exploration Licence for PEL56/Block 2913B, located off the southern coast of Namibia.  Based on exploration and appraisal activities, the companies are studying the feasibility of developing the Venus field to produce light crude oil. The Venus field lies 300 km from…

Staff Writer Fly Namibia has entered into a new partnership with Fastjet, effective 1 November 2025, to offer travellers seamless connections between Windhoek and Harare through Victoria Falls.  The airline said the collaboration aims to improve regional travel and strengthen economic ties across Southern Africa. With aligned schedules between Fly Namibia’s Windhoek–Victoria Falls route and Fastjet’s Victoria Falls–Harare service, passengers can travel more easily between Namibia and Zimbabwe for business or leisure. “This partnership with Fastjet represents progress for regional air travel,” said Nerine Uys, CEO of Fly Namibia. “By connecting Windhoek and Harare through Victoria Falls, we are helping…

Staff Writer Santam Namibia, in partnership with the City of Windhoek, has launched a flood signage project to improve public safety at high-risk river crossings in the capital. The insurer has committed about N$150 000 for the installation of warning and depth marker signs across flood-prone areas identified by the city’s emergency and disaster risk management division. The chief executive officer of Santam Namibia, Franco Feris, said Namibia’s risk landscape has changed in recent years.  “Shifting climate patterns and rapid urbanisation have significantly increased the frequency and intensity of flash floods. The result has been a concerning rise in vehicles…

Chamwe Kaira The National Youth Development Fund (NYDF), launched in September, has disbursed N$14.78 million to 42 startups, executive director in the Ministry of Finance Michael Humavindu has revealed. The fund is capitalised at N$500 million, with N$257 million available for the current financial year.  It is being implemented by the Development Bank of Namibia (DBN), Agribank and the Environmental Investment Fund (EIF) to close financing gaps for youth-led enterprises. Humavindu said that the NYDF's growth includes a way to lend money through Development Finance Institutions, a fund at the Bank of Namibia to keep it going long-term, and a…

Chamwe Kaira Oceana Group Limited has warned shareholders that its earnings for the year ended 30 September 2025 are expected to drop sharply, despite stronger catches late in the financial year. In a trading update released on the Johannesburg Stock Exchange (JSE), the Cape Town-based fishing and food processing company, which also operates in Namibia, said it now expects its basic earnings per share to range between 589 cents and 534 cents.  This reflects a decline of between 36% and 42% from the 920.9 cents reported in 2024. Headline earnings per share are forecast to fall within the same range,…

Chamwe Kaira  Pepkor Holdings Limited, which owns several Namibian retail brands, including PEP, Ackermans, Shoe City, Dunns, Tekkie Town, Refinery, Bradlows, Sleepmasters, Incredible Connection, HiFi Corp, and BUCO, has announced a 12% rise in revenue to N$95.3 billion for the year ended 30 September 2025. The group said its retail operations outperformed the broader market, driven by strong trading in a difficult economic environment. It noted that its business model, focused on meeting customer needs, continues to show resilience. Pepkor said it expanded its market share based on the latest available data. The company reported strong growth in fintech through…

Chamwe Kaira Celsius Resources has continued its divestment process for the Opuwo Cobalt project in Namibia, with several interested parties conducting due diligence.  The company said in its quarterly report for the period ended 30 September that the project’s exploration licence renewal is still under review by the Ministry of Industries, Mines and Energy. Celsius ended the quarter with about N$29 million (A$2.39 million) in cash, including around N$18 million (A$1.49 million) held by MMCI. It spent about N$53 million (A$4.37 million) on exploration and evaluation during the quarter, while payments to related parties totalled roughly N$6.6 million (A$537 000),…

Chamwe Kaira Deep Yellow Limited has reported promising results from its latest drilling campaign at the newly identified Tinkas prospect in Namibia’s Erongo Region. The site lies within exclusive prospecting licence 3496, adjacent to the company’s flagship Tumas project on mining licence 237. The chief financial officer and acting chief executive officer, Craig Barnes, said the exploration team completed a reverse circulation drilling programme between 23 September and 14 October 2025 to test a strong radiometric surface anomaly aligned with a network of palaeochannels, ancient river systems known to host uranium deposits in the region. A total of 105 drill…