Observer Money

Chamwe Kaira Private Sector Credit Extension (PSCE) rose slightly to 5.8% year-on-year in August 2025, compared to 5.7% in July, showing a gradual recovery in credit demand driven mainly by corporate borrowing, according to FNB Namibia economist Helena Mboti. Mboti said the modest increase reflects a cautiously improving credit environment supported by stronger business confidence and continued investment activity. Household credit expansion, however, remains limited due to weak income growth and affordability constraints. Corporate credit led the growth, rising 10.3% year-on-year in August from 10.1% in July. Mboti said the increase was mainly supported by higher demand for other loans…

Chamwe Kaira Paladin Energy Limited has reported record quarterly uranium production from its Langer Heinrich Mine in the Erongo region, marking another milestone in the mine’s ramp-up phase since restarting operations. The Australian Stock Exchange-listed uranium producer said output reached 1,066,496 pounds of uranium oxide during the quarter ending 30 September, up from 993,843 pounds in the previous quarter.  The company said the performance reflects “increasing operational strength and capability” as it moves towards full-scale production. Sales for the quarter totalled 533 789 pounds of uranium oxide at an average realised price of US$67.40 per pound, compared to US$55.60 in…

Chamwe Kaira Bannerman Energy Ltd has reported continued strong progress at its Etango Uranium Project, achieving major milestones in construction, design, and marketing as it moves closer to a potential Final Investment Decision (FID), subject to market conditions. The company maintained an excellent safety record, marking 16 years without a lost-time injury.  Early works construction remains on budget and schedule, with construction power now commissioned within the mining licence area.  Detailed design for the process plant is 86% complete, and a factory acceptance test for the High Pressure Grinding Rolls tertiary crusher has been successfully completed. Bannerman awarded contracts for…

Staff Writer Trustco Group Holdings has reported progress toward finalising its long-awaited annual financial statements while reminding investors to remain cautious as it moves ahead with plans to delist from three stock exchanges. The Windhoek-based investment group said on Monday it continues to work with regulators to complete the audit of its financial results for the year ended 31 August 2024.  The process has been more complex than usual following changes to the Johannesburg Stock Exchange’s (JSE) Listings Requirements on auditor appointments. Previously, Trustco was required to appoint two audit firms—one accredited by the JSE in South Africa (Nexia SAB&T)…

Staff Writer Standard Bank Namibia has joined other financial institutions in an industry-wide effort to raise awareness about Know Your Client (KYC) compliance, in line with the Financial Intelligence Act of 2012. The initiative aims to ensure that customer information is accurate, current, and compliant with national regulations, a key step in protecting the integrity of Namibia’s financial system. Standard Bank has launched a multi-channel campaign encouraging clients to verify and update their personal details.  The campaign uses SMS and email notifications, as well as direct engagement through branches and relationship managers. “Client enablement is about more than just access;…

Chamwe Kaira The Bank of Namibia (BoN) has lowered its inflation forecasts for 2025 and 2026 by 0.2 percentage points to 3.6% and 4%, respectively, from its previous projection. BoN governor Johannes !Gawaxab said the revision reflects a stronger exchange rate and a lower oil price outlook.  “Risks to the forecast remain exchange rate volatility and potential upticks in administered and oil prices,” he said. Annual inflation averaged 3.6% during the first eight months of 2025, compared to 4.6% during the same period last year.  !Gawaxab said the decline was mainly due to lower prices in housing and alcoholic beverages…

Chamwe Kaira  Recent disclosures on the Namibia and Botswana stock exchanges show that senior executives at FirstRand Namibia Limited and Choppies Enterprises Limited have increased their shareholdings through market transactions and incentive schemes. At FirstRand Namibia Limited, two directors made separate on-market share purchases this week.  Emla Trust, a family trust linked to director Emile van Zyl, bought 12 136 ordinary shares at N$52.20 per share, amounting to about N$637 782.57. The trust is associated with van Zyl, who serves as both trustee and beneficiary.  The transaction took place on 13 October 2025 after obtaining the required clearance to trade.…

Chamwe Kaira  Agra Limited has told shareholders that the company’s profit after tax, basic earnings per share, and headline earnings per share for the year ended July 31, 2025, are expected to increase by between 53% and 59% compared to the prior period.  “This improvement follows a challenging prior year, shaped by strategic investments in expanding Agra’s footprint and upgrades to retail branches, as well as the impact of a prolonged drought. These investments are now bearing fruit, contributing to improved operational efficiency,” the company said. Agra stated that the improved rainfall across the country has provided essential relief to…

Allexer Namundjembo The diamond industry continues to struggle as global prices decline amid weaker consumer demand and growing competition from lab-grown diamonds.  High inventory levels in major markets have added further pressure on the sector. According to the latest monetary policy presentation by Bank of Namibia (BoN) governor Johannes !Gawaxab on Wednesday, the natural diamond sector has been declining since 2022 and the downward trend is expected to continue in the coming years. The Paul Zimnisky Diamond Index shows prices have been falling steadily over the past three years.  !Gawaxab said the slump is being caused by both structural and…

Chamwe Kaira  South Africa, where Namibian asset managers and pension funds have major investments, has listed three new government bonds. The National Treasury announced the listing of the R010, R187, and R188 fixed-rate bonds on the Johannesburg Stock Exchange (JSE) following the decision to split the R186 bond into three separate maturities. The listing took effect on 15 October 2025. It is part of the Split Option first announced on 8 February 2024, which allows holders of the R186 (10.50%) 2025/26/27 bond to voluntarily divide their holdings into three shorter-term instruments until 11 December 2025, before the first maturity date…