Observer Money

Chamwe Kaira Santam Namibia contributed N$675 million to the revenue of Santam Limited in South Africa for the financial year ended 30 June 2025, up from N$600 million in 2024. The group reported conventional insurance net earned premium growth of 16% to N$17.9 billion, with a net underwriting margin of 11.3% compared to 6.5% in June 2024.  The alternative risk transfer (ART) business recorded a profit before tax of N$417 million, up from N$326 million a year earlier. Santam said it delivered a strong first-half performance, exceeding long-term targets across key financial indicators.  An interim dividend of 590 cents per…

Chamwe Kaira The Development Bank of Southern Africa (DBSA) has committed just over N$2.1 billion in development loans to the Development Bank of Namibia (DBN) for the year ended 31 March. The funding forms part of DBSA’s ‘Rest of Africa’ portfolio, which recorded N$6.5 billion in loan commitments across several countries, including Nigeria, Mozambique, Tanzania and Senegal.  Namibia’s allocation highlights DBSA’s support for regional integration and infrastructure development within the Southern African Development Community (SADC). DBSA funding targets key sectors such as water, energy, transport, ICT and social infrastructure.  In July 2024, TransNamib confirmed it had met all conditions to…

Chamwe Kaira The takeover of Barloworld, which owns Barloworld Namibia, by Newco is awaiting competition approvals in Namibia, COMESA and Angola.  In Namibia, mergers are approved by the Namibian Competition Commission (NaCC). “The filings in these jurisdictions have been submitted to the relevant authorities and the parties are working towards obtaining these approvals as soon as possible,” Barloworld announced. Barloworld and Newco announced the proposed deal on 28 February.  On 26 August, the Botswana Competition and Consumer Authority informed the two companies that it had unconditionally approved the implementation of the Newco offer.  “The parties therefore confirm that the standby…

Chamwe Kaira  The Chamber of Mines of Namibia has clarified that it supports the government’s plan to add value to minerals in the country. CEO Veston Malango clarified in an interview with Observer Money that the Chamber of Mines of Namibia supports local value addition to all minerals produced in Namibia to grow the economy and create jobs.  He said Chamber had already in June 2023 welcomed the cabinet decision on the understanding that cabinet was referring to the ban on the export of mineral ores, meaning ores of all the minerals mentioned in the cabinet decision. Malango said the…

Ian Coffee, an admitted attorney in South Africa who has worked in various legal roles in Namibia, says the new High Court rules on the selling of primary homes in execution may create confusion. Coffee has also been involved in legal immigration work for IBN Immigration Solutions.  He previously practised as a real estate agent and passed the Namibia Estate Agency board exam. In an interview with Observer Money, Coffee clarified that the recent regulations could potentially complicate the process of selling primary homes during execution. “The new High Court rules on the selling of primary homes in execution may…

Chamwe Kaira Paladin Energy, whose only producing mine is the Langer Heinrich Mine, has secured 13 uranium sales agreements with international customers. The contracts cover 24.1 million pounds of uranium oxide through 2030. The agreements, disclosed as of 30 June 2025, include fixed-price, market-related and base-escalated pricing mechanisms, mostly denominated in US dollars. Pricing references published spot and term uranium prices and may include floor and ceiling limits. Paladin said global demand is supported by existing reactors, new construction and life extensions in the United States and other countries.  “Commitments made at COP28 and COP29 to triple nuclear capacity by…

Chamwe Kaira Andrada Mining Limited reported a 32% increase in revenue to £23.8 million (N$563 million) for the year ended 28 February, supported by stronger tin prices, higher contained tin production, and initial sales of tantalum. The average realised tin price rose 21% to US$31 081 per tonne, helping offset rising costs. Chief financial officer Hiten Ooka said the cost of sales rose 28%, largely due to a 22% increase in production costs driven by higher maintenance expenses from unplanned plant outages. Finance expenses climbed to £6.3 million, adding pressure on net earnings. The royalty charge increased sharply from £0.1…

Diamond prices fell in many categories in August as the US tariffs impacted demand for Indian goods. Prices of rounds weakened, though fancies were stable. Deep uncertainty dampened sentiment. US retail and wholesale were steady. The RapNet Diamond Index (RAPI) for 1-carat goods — reflecting round, D to H, IF to VS2 diamonds — fell 1.1% in August. The index for 0.30- and 0.50-carat stones declined 3.8% and 3.9%, respectively. Larger stones continued to outperform smaller items, with the 3-carat RAPI increasing 0.4%. US President Donald Trump implemented 25% duties on Indian goods from 1 August and 50% from 27…

The chief executive officer of Letshego Microfinancial Services Namibia, Melvin Hosea Angula, addressed global policymakers this week at the Alliance for Financial Inclusion's (AFI) Global Policy Forum 2025 in Swakopmund, sharing how AI, digital identity, and microfinance can close the financial inclusion gap in Africa. Angula’s presentation, titled Leveraging Technology to Improve Supervision and Regulation: The Taamba Maris Case Study, highlighted Namibia’s first instant mobile credit product developed with MTC Maris. He said the platform is transforming access to finance while giving regulators real-time visibility. “We built Taamba Maris not just for speed, but for trust. By embedding safeguards like…

Justicia Shipena  Civil servants will be able to access home loans under the Pension Backed Home Loan Scheme (PBHLS) starting January 2026.  The Government Institutions Pension Fund (GIPF) and the office of the prime minister signed a Memorandum of Agreement (MoA) to implement the scheme on Wednesday. The MoA was signed by secretary to cabinet Emilia Mkusa and GIPF chief executive officer Martin Inkumbi. The scheme allows qualifying members to borrow up to one-third of their pension savings to buy or build a home, purchase land, or renovate existing properties in both proclaimed and unproclaimed areas.  Inkumbi said  the loans…