Observer Money

The Communications Regulatory Authority of Namibia (CRAN) officially launched the Namibia Cyber Security Incident Response Team (NAM-CSIRT) in Windhoek. This significant milestone reflects CRAN’s commitment to advancing Namibia’s cyber resilience and safeguarding the nation’s digital infrastructure from increasingly complex cyber threats. As Namibia embraces the digital age, the nation is presented with vast opportunities for economic development, innovation, and enhanced social connectivity. However, these benefits come with growing cybersecurity risks that demand immediate and coordinated responses. CRAN Board Chairperson, Tulimevava Mufeti, emphasised that cybercrime is a global issue that impacts individuals, businesses, and governments alike.  “Addressing these threats requires a…

CHAMWE KAIRA  FNB Namibia economist Helena Mboti is of the view that inflation will remain elevated but relatively contained. “We expect transport inflation to stay muted amid subdued demand and ongoing geopolitical uncertainty. However, housing and utilities inflation is likely to remain high because of the expected increase in electricity tariffs in 2025,” she said. In 2024, the government subsidised NamPower's proposed 8% electricity tariff hike, allowing electricity costs to remain unchanged for the year.. Mboti said as a result, NamPower is likely to propose a larger tariff increase in 2025 to recover deferred costs. “We also expect continued pressures…

CHAMWE KAIRA  Reconnaissance Energy Africa Ltd has announced a drilling update on Prospect I. IProspect I is located onshore in Kavango in Petroleum Exploration Licence 073 (PEL73) and is the company’s largest prospect to be drilled so far. The company is targeting an estimated 365 million barrels of unrisked and 32 million barrels of risked prospective light to medium oil resources. For natural gas, the estimate stands at 1.9 trillion cubic feet unrisked and 140 billion cubic feet risked, based on an independent prospective resources report by Netherland, Sewell & Associates, Inc. ReconAfrica President and CEO Brian Reinsborough said the…

CHAMWE KAIRA  Koryx Copper Inc has announced that it has successfully completed all requirements for a dual listing on the Namibian Stock Exchange (NSX).  The company's primary listing will remain on the TSX Venture Exchange in Canada. Heye Daun, President and CEO of Koryx Copper, said the dual listing reflects the company’s long-term commitment to Namibia and its mining sector.  “Koryx Copper’s dual listing on the Namibian Securities Exchange marks an important milestone which demonstrates our commitment to Namibia and its thriving mining sector and well developed capital markets,” said Daun.  We have a significant and highly supportive local Namibian…

Erasmus Shalihaxwe The Business and Intellectual Property Authority (BIPA) has extended the deadline for its Annual Duty Penalty Waiver Programme to 30 September. Announcing the extension on Tuesday, BIPA’s acting chief executive officer, Ainna Kaundu, said the move is part of ongoing efforts to support local entrepreneurs and improve compliance across the business sector. The waiver program allows registered entities that are in arrears with their annual duty payments to settle their obligations without incurring penalties or interest. Kaundu said the initiative offers businesses an opportunity to update their records, become compliant, and avoid the risk of deregistration. “We continue…

Niël Terblanché The Government Institutions Pension Fund (GIPF) has approved a 4% increase in pension benefits, effective 1 April 2025. This adjustment applies to all GIPF pensioners, qualifying annuitants, as well as spousal and child beneficiaries. The GIPF’s chief executive officer, Martin Inkumbi, announced the adjustment in a statement issued on Tuesday. He said that pensions in payment or deferment for less than a year as of 31 March 2025 will receive the increase on a pro-rata basis. “The Board of Trustees took this informed decision following the recommendation from the Fund’s Actuary,” Inkumbi said. He explained that the advice…

Niël Terblanché Namibia has officially launched its national Cyber Security Incident Response Team (NAM-CSIRT), a dedicated unit aimed at bolstering the country’s digital defences amid a rising tide of cyber threats. The minister of information and communication technology, Emma Theofelus, officiated at the launch in Windhoek on Monday. Theofelus described the launch of NAM-CSIRT as not just a unit, but as national defence against cyber threats. She added that the initiative embodies our commitment to safeguarding Namibia’s critical information infrastructure and ensuring the protection of our citizens' personal data, businesses’ intellectual property, and the integrity of our public and private…

CHAMWE KAIRA  The Bank of Namibia mobilised just over N$15 billion in alignment with the government’s domestic funding needs for the 2024/25 fiscal year, governor Johannes !Gawaxab told an investors conference this week. “This funding was secured at favourable pricing. Funding was strategically secured across nominal bonds, inflation-linked bonds, and treasury bills, the governor said. He pointed out that investor appetite remained strong, with auctions recording healthy bid-to-cover ratios of approximately two times. Furthermore, he said the government reaffirmed its commitment to redeem the Eurobond maturing in October this year through a disciplined and transparent strategy. The government will also…

CHAMWE KAIRA  TotalEnergies EP Namibia and its partners are planning to produce 160 000 barrels of oil per day at their proposed project situated offshore, which will have a storage capacity of around two million barrels of oil and a gas separation capacity of 550 000 million standard cubic feet per day (MMscfd). ThiIt is contained in documents, which form part of its application for environmental clearance of the project. TotalEnergies EP Namibia B.V., Namcor and Qatar Energy have announced plans to conduct an Environmental and Social Impact Assessment (ESIA) for the proposed development of the offshore Venus Field in…

Kevin Lings, Stanlib Asset Management senior economist, talks to Observer Money about the impact of the 21% tariffs imposed on Namibia by US President, Donald Trump.  Observer Money (OM): What do you make of the US government’s recent reciprocal tariff imposed on African countries which includes 21% tariffs on Namibia? Kevin Lings (KL): In general, the level of reciprocal tariffs introduced by the US are significantly higher than expected. It can be argued that the focus on the excessive tariff levels are focused on Asia, Cambodia, Vietnam, Indonesia, Thailand, although sub-Saharan Africa was also an area of focus including Angola,…