Observer Money

Staff Writer  The Old Mutual Investment Group Namibia (OMIGNAM) has appointed Sara Mezui Engo as chief investment officer of unlisted investments, effective immediately. Mezui Engo brings over 16 years of experience in investment management across listed and unlisted markets.  She has held roles at RMB Asset Management, now Momentum Investments, EMH Prescient Investment Management, and Liquid Africa, now Enko Capital.  Most recently, she worked at the Government Institutions Pension Fund of Namibia (GIPF), where she led the global alternative investments programme, investing in private equity, private credit, property and infrastructure. Her appointment marks a key step for OMIGNAM in strengthening…

Staff Writer The creation of 500 000 jobs remains one of Namibia’s biggest challenges as the country struggles to turn economic growth into meaningful employment. Speaking at the inaugural Namibia Public-Private Forum (NAMPPF) recently held in Windhoek, Bank of Namibia (BoN) governor Johannes !Gawaxab said that while the economy has grown over the years, this growth has not translated into job creation.  He was addressing a high-level panel discussion titled “From Vision to Action: Delivering on Namibia’s Jobs Agenda.” “The central question before us is how Namibia will deliver on the audacious but necessary target of creating 500 000 quality…

Chamwe Kaira Agra has posted its strongest financial performance in its 45-year history, with profit after tax reaching N$115.1 million for the year ended 31 July 2025, up 56.7% from the previous year.  Total revenue rose by 5.5% to N$2.8 billion, while gross profit increased by 9.2% to N$556.3 million. Operating profit grew by 43.7% to N$155.4 million. “These results reflect improved margins, disciplined cost control, and strategic expansion,” the company said. Agra’s share price increased by 4.9% to N$3.85 as of 31 July 2025, delivering a total return of 11%, including dividends.  The company’s net asset value rose to…

Chamwe Kaira Clicks ClubCard loyalty members across Namibia, South Africa, Botswana, Lesotho and Eswatini received N$855 million in cashback over the past year, bringing total rewards paid to customers over the last three decades to N$7.5 billion. The Clicks ClubCard, which celebrates its 30th anniversary this year, grew active membership to 12.6 million and contributed 82.6% of total sales at Clicks stores.  The Clicks Group, which operates 27 stores in Namibia, said while improvements in South Africa’s macroeconomic indicators are encouraging for retail spending over the medium term, consumer sentiment and discretionary spending remain under pressure. The group said it…

Chamwe Kaira Deep Yellow Limited has announced that its managing director and chief executive officer, John Borshoff, has stepped down from his position effective 20 October. Borshoff, who has led the company since 2016, will remain as an advisor until the end of November to ensure a smooth transition.  Under his leadership, Deep Yellow grew from a junior uranium explorer into an Australian Stock Exchange-listed producer-in-waiting with key assets in Namibia and Australia. During his tenure, Deep Yellow revitalised the Tumas Project in the Erongo Region, one of Namibia’s most advanced uranium developments, now nearing a final investment decision.  The…

Chamwe Kaira Namibia’s first Public-Private Forum (NamPPF), held this week, marks a new step in the country’s effort to achieve inclusive growth, job creation, and competitiveness, according to Nangula Nelulu Uaandja, chairperson of the NamPPF coordinating committee. Speaking at the opening session, Uaandja said Namibia’s economic challenges, including a 36.9% unemployment rate and 46% youth unemployment, demand stronger cooperation between the government and private sector.  “Almost half of Namibians are either monetarily or multidimensionally poor. This forum exists because no single sector can solve these structural issues alone. We must co-create and co-own the solutions,” she said. Uaandja said the…

Chamwe Kaira The Namibia Special Risks Insurance Association (Nasria) has paid a dividend of N$16 million to the government after recording another strong year of financial and operational performance for 2024/2025. Nasria maintained its record of clean audits with another unqualified opinion, providing insurance cover against politically motivated and special risks not typically covered by commercial insurers.  The company has achieved this every year since its establishment. Insurance revenue increased by 6%, rising from N$84 million to N$89 million, supported by policy renewals and new business across several sectors.  However, the insurance service result fell by 23% to N$45 million…

Chamwe Kaira The long-term insurance subsector maintained strong profitability in the first half of 2025, building on the momentum achieved in 2024 when gross written premiums rose to N$14.4 billion. According to the Bank of Namibia and the Namibia Financial Institutions Supervisory Authority (Namfisa) in their joint October 2025 Financial Stability Report, the sector’s stability reflects several factors.  These include inflation-linked premium adjustments, greater demand for life, funeral, and investment-linked policies, growth in the middle-income population, and successful product diversification.  The report assessed the strength of Namibia’s financial system and its ability to withstand both internal and external shocks. The…

Chamwe Kaira Swakop Uranium, operator of the Husab Mine, recorded a net profit of N$562 million in 2024, marking a strong turnaround from a loss in 2023. Total procurement for the year reached N$10.1 billion, with N$6.36 billion spent locally. The company said this reflects its continued support for Namibian suppliers and small businesses. In its 2024 sustainability report, Swakop Uranium highlighted key production achievements.  The company mined 118 million tonnes of material and reached a record processing throughput of 1 720 tonnes per hour.  Its workforce stood at 4 300 employees, representing nearly 18.5% of Namibia’s mining labour force.…