Observer Money

Justicia Shipena The governor of the Bank of Namibia (BoN), Johannes !Gawaxab, says many Namibians continue to fall victim to investment scams.  Despite ongoing financial literacy efforts by the central bank, he said Namibians often fall victim to scams commonly known as Ponzi schemes. !Gawaxab made the remarks while briefing the parliamentary standing committee on economy and industry, public administration and planning on Tuesday.  During the meeting, he urged lawmakers to educate their constituents about the risks of illegal investment schemes.  The BoN has previously warned about investment scams. In October of last year, BoN issued an alert in which…

Erasmus Shalihaxwe Nedbank Namibia has finalised the funding deal with Trollope Contractors Namibia (Pty) Ltd, a subsidiary of the South African-based Trollope Mining Group. Nedbank Namibia managing director Martha Murorua announced the agreement on Monday, calling it the start of a strategic partnership to advance Namibia’s mining sector.  The funding includes asset-based finance and working capital to support Trollope’s mining operations in the country. “The Nedbank funding is expected to create employment opportunities and stimulate economic activity in the Erongo Region. A strategic partnership for growth. Trollope Contractors Namibia is a new entrant to the Namibian market but brings with…

Justicia Shipena  The Old Mutual Foundation by Old Mutual Namibia has allocated N$1 million toward its flagship entrepreneurship programme, the Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED).  The funding marks the launch of the fourth and final leg of the initiative, known as OM SEED 4.0, under the theme “Rooted in Growth for Sustainability”. The final phase will focus on the Omaheke, Otjozondjupa, Omusati, and Kunene regions.  The programme aims to support local entrepreneurs with seed funding, mentorship, and business development support. Since its launch in 2022, OM SEED has empowered more than 100 entrepreneurs across Namibia. “Through…

Justicia Shipena Standard Bank Holdings Namibia (SBN) is set to benefit from big spending plans in the oil and renewable energy sectors, thanks to its early involvement and in-house deal-making capacity. A report by Simonis Storm says that while these sectors can be unpredictable, the bank is well protected with a strong capital adequacy ratio of 18.3% and careful use of its funds. The report titled “Equity Insights: Trade Idea: Standard Bank Holdings Namibia” highlights that the bank is now well-positioned at the intersection of Namibia’s most capital-intensive growth areas.  The report also flags three risk areas: concentrated credit exposure…

Justicia Shipena Rising fuel prices and concerns about the environment are pushing the need for better support for electric vehicles (EVs) in Namibia. A May 2025 report by Simonis Storm Securities says investing in home chargers, smart electricity pricing, and public charging stations could help more people switch to EVs. This call for investment comes as new vehicle sales in Namibia slowed in May. A total of 1,011 units were sold, down from 1,243 in April and 1,320 in March.  Despite the 18.7% month-on-month drop, sales increased by 4.7% year-on-year from 966 units in May 2024. The report, compiled by…

Chamwe Kaira Alpha Namibia Industries Renewable Power Limited (ANIREP) has fulfilled all conditions for acquiring a 45% stake in Cerim Luderitz Energy (Pty) Ltd for N$60 million. The company confirmed that all outstanding conditions precedent have been met. This includes the signing of the sale and purchase agreement and approvals from the Namibia Power Corporation and the Electricity Control Board. CERIM is an Independent Power Producer developing a 50 MW (AC) wind power plant located 17 km south of Lüderitz in the ǁKaras Region. The project includes the development of 743 hectares of land and the construction of a 40…

Chamwe Kaira The Government Institution Pension Fund (GIPF) is finalising a Memorandum of Understanding (MoU) with the Office of the Prime Minister for the Pension Backed Home Loan Scheme (PBHL). Edwin Tjiramba, general manager for marketing and stakeholder engagement, told Observer Money that the fund will soon inform members and stakeholders of the outcome and the way forward.  He declined to answer further questions, saying the fund is not in a position to share more information at this stage. In its 2024 Annual Report, GIPF said it had been engaging stakeholders on the PBHL scheme. The initiative is designed to…

Observer Money (OM): Recently, the Electricity Control Board (ECB) said Namibia needs a power plant for base load generation. What would be the ideal capacity in the eyes of the ECB? Robert Kahimise (RK): The ideal capacity of a base load power plant based on the current developments can be like the following: Baines Hydro Power Plant (300-400 MW) as a long-term solution, an allocation of 200 MW to BW Kudu in line with the cabinet directive to offer base load power in the short to medium term, with a load profile in accordance with both the expiry of import…

Chamwe Kaira Walvis Bay Harbour recorded exports worth N$5.6 billion in April, making it the top export point for the month.  Eros Airport followed with exports of N$2.4 billion, while the Katima Mulilo border post accounted for N$1.1 billion, according to the Namibia Statistics Agency’s April trade report. On the import side, Walvis Bay Harbour remained the main entry point with imports valued at N$5 billion. Ariamsvlei recorded N$3.2 billion in imports, and the Trans Kalahari border post followed with N$1.7 billion. Sea transport remained the most used export mode, handling goods worth N$6.1 billion. This represented 55.5% of Namibia’s…