Observer Money

Chamwe Kaira Paladin Energy Ltd has appointed Michele Buchignani as an independent non-executive director.  The Johannesburg Stock Exchange (JSE) recently made the announcement. Paladin owns the Langer Heinrich mine in the Erongo region. Buchignani, based in Vancouver, brings extensive experience in law, finance, private equity, executive compensation, and risk management.  She has held senior roles at CIBC World Markets, Ontario Teachers’ Pension Plan, and law firms in Canada and Australia. She has served on various boards and advisory panels for public, private, and non-profit organisations.  These include TSX-listed Copper Mountain Mining Corporation, TSX Trust Company, and Nasdaq-listed Westport Fuel Systems.…

Chamwe Kaira Andrada Mining Limited has raised N$120 million to support the expansion of its operations at Uis in the Erongo Region.  The company closed its previously announced subscription and share placing, securing a total of £5 million (approximately N$120 million). Of this amount, £4.5 million (approximately N$108 million) came through an equity subscription involving 150 million ordinary shares taken up by Talent10 Resources Proprietary Limited.  Talent10 now holds 8.16% of Andrada’s enlarged issued share capital. The remaining £0.5 million (approximately N$12 million) was raised by placing 16 million shares with institutional and professional investors.  The bookrunner for the placement…

Jacques Taylor  Doing business in Africa is challenging for any company in any industry sector, but with 40 years of experience in the field, TATA has established itself as a company that is both commercially successful and relevant to the diverse demographic and geographical communities in which it operates across the continent. During the period of its operations in Africa, TATA has observed and experienced vast changes: greater economic prosperity for more Africans, the evolution of the African Union, the establishment of a pan-African parliament and the push for a single currency, the forging of closer regional trade ties including…

Justicia Shipena Microlending institutions continue to top the list of non-compliant entities in the country’s non-banking financial sector, according to the Namibia Financial Institutions Supervisory Authority (NAMFISA)'s latest quarterly report. The first quarter report for 2025 shows that 91.6% of all non-compliant institutions came from the microlending industry.  Issues ranged from late submission of regulatory returns, failure to pay levies, and ignoring inspection findings. Out of 1,065 regulated entities, 107 were classified as Stage 5, meaning they were non-compliant.  In contrast, 625 entities, or 58.7%, were fully compliant and fell under Stage 1 of NAMFISA’s supervision framework. Namfisa chief executive…

Justicia Shipena  The growth of the insurance sector in the first quarter of 2025 was driven by an increase in long-term gross premiums. The Namibia Statistics Agency (NSA), in its report on the country’s gross domestic product, said the insurance sector recorded an 8.1% growth in real value added, recovering from zero growth in the same quarter last year. This comes as the financial services sector grew by 6.0% in real value added, up from 4.7% during the same period in 2024.  The growth was supported by both the banking and insurance subsectors. The banking sector posted a 3.4% increase,…

Chamwe Kaira FNB Namibia economists Cheryl Emvula and Helena Mboti expect the Bank of Namibia to keep the repo rate steady at 6.75% over the coming quarters, even as global markets begin pricing in rate cuts. “As a result, the interest rate differential with South Africa is expected to compress to 25 basis points over the course of the year. Should capital flow pressures intensify, or reserves come under severe strain, the central bank may consider pre-emptive rate adjustments to stabilise inflows and reinforce its commitment to capital flows,” Emvula and Mboti said. Despite Namibia’s strong trade position, international reserves…

Chamwe Kaira Anglo American, through its subsidiary De Beers, revealed in its 2024 tax and economic contribution report that its total tax and economic contribution in Namibia amounted to US$545 million (N$10.2 billion), a decrease from US$611 million (N$11.4 billion) in 2023. Taxes and royalties borne in Namibia amounted to US$63 million, compared to US$144 million the previous year. Total taxes and royalties borne and collected reached US$136 million, lower than US$234 million in 2023. De Beers operates in Namibia through a 50:50 partnership with the government. It recovers land-based diamonds through Namdeb and offshore diamonds through Debmarine Namibia. The…

Chamwe Kaira Oryx Properties Limited, a company listed on the Namibia Stock Exchange, says its planned acquisition of Safari Investments Namibia (Proprietary) Limited is still subject to conditions agreed with the sellers. Safari owns and manages the Platz am Meer Shopping Centre in Swakopmund. Oryx announced in March that it had entered into a sale of shares and claims agreement with Safari Investments RSA Limited, a company listed on the Johannesburg Stock Exchange.  Under the deal, Oryx will acquire 100% of the issued share capital in Safari Investments Namibia and all related loan claims from the seller for N$290 million.…

InterContinental Hotels Group (IHG) Hotels & Resorts, one of the world’s leading hospitality companies, has announced the signing of three new hotels in Namibia as part of a franchise agreement with Cadence Capital & Santiago Property Developers Pty Ltd. The agreement will see the debut of Vignette Collection Dunes Resort Swakopmund, Holiday Inn Walvis Bay, and voco Windhoek CBD, collectively adding 347 rooms to IHG’s growing pipeline in Southern Africa.  The three properties will be operated by Valor Hospitality Partners, a global leader in integrated hotel management and operations solutions, and one of IHG’s trusted partners. All hotels are expected…