Observer Money

Chamwe Kaira  Namibia’s stock of international reserves fell to N$54.7 billion in September as government foreign payments reduced the country’s foreign assets, data from the Bank of Namibia shows.  The figure represents a 4.1% month-on-month decline, translating into 3.6 months of import cover.  When oil exploration and appraisal activities are excluded, import cover improved slightly to four months, the central bank said. The banking industry’s overall cash position also weakened to N$7.3 billion in September, down from an average of N$8.1 billion in August, mainly due to cross-border payments. Mortgage credit contracted by 0.3% in September after a marginal growth…

Chamwe Kaira  Namibia Asset Management (NAM) expects its profits to grow by up to 20% for the financial year ended 30 September 2025, showing continued momentum in the company’s performance.  In a trading statement issued on the Namibia Stock Exchange (NSX), NAM said it anticipates earnings per share (EPS), headline earnings per share (HEPS), and fund management earnings per share (FMEPS) to increase between 10% and 20% compared to the previous year.  EPS and HEPS are expected to rise from 6.99 cents in 2024 to between 7.69 and 8.39 cents in 2025, while FMEPS is projected to grow from 5.98…

Chamwe Kaira  Elevate Uranium Ltd has raised A$25 million (N$283 million) through a strongly supported share placement to fast-track its U-pgrade pilot plant and expand uranium resource drilling in Namibia and Australia.  The placement, priced at $0.35 per share, received significant backing from both existing and new institutional investors, reflecting confidence in the company’s growth plans.  The new funding increases Elevate Uranium’s cash position to about A$43.9 million, providing a solid foundation for its ongoing development and exploration work. Managing director Murray Hill said the investor response highlights strong belief in the company’s direction and technology.  “This $25 million strengthens…

Chamwe Kaira  The Ministry of Industries, Mines and Energy has increased the fuel industry margin by 30 cents per litre, bringing it to 219 cents per litre.  Executive director in the ministry, Moses Pakote, said the adjustment is aimed at ensuring the financial sustainability of fuel importers while maintaining a reliable supply of petroleum products across the country.  The National Energy Fund will fund the increase, according to him, and it won't impact pump prices. This comes as the ministry announced over the weekend that fuel prices will remain unchanged for November 2025, with prices at Walvis Bay set at…

Staff Writer  Come April 2026, FlyNamibia will expand its regional flights between Windhoek and Victoria Falls from three to six times a week.  Flights to Maun and Katima Mulilo will also increase to four per week. The airline said the move aims to strengthen regional connections and boost tourism and trade across Southern Africa. According to FlyNamibia, the increased flights will give travellers more flexibility, better connection options and easier planning for tour operators and travel agencies.  FlyNamibia Cargo will continue to support business logistics by helping Namibian companies move goods quickly and efficiently across markets. “Every route we fly…

Chamwe Kaira Regional forecasts from SARCOF-31 and the Namibia Meteorological Service predict normal to above-normal rainfall across the north and central interior, where most of Agra’s customers and stores are located. “These zones are likely to see markedly improved grazing conditions and stronger on-farm liquidity from January to March 2026, driving herd rebuilding, higher auction volumes and renewed input demand. Although parts of the southwest may remain drier and the risk of localised flooding persists, the overall climatic bias supports the agricultural value chain. In practice, that should translate into firmer rural spending, improved credit recoveries and more predictable cash…

Chamwe Kaira FirstRand Limited believes that Namibia’s uranium and oil and gas sectors are well positioned for a rebound. The firm said that while low inflation should help keep interest rates down, fiscal strain from declining Southern African Customs Union and diamond revenues could force the government to reduce its spending plans to maintain debt sustainability. On tariffs, FirstRand noted that Namibia’s exports to the United States make up less than 1% of GDP and that certain products are exempt from US tariffs. The company added that, despite weaker crop farming and a contraction in diamond production, growth in Namibia’s…

Chamwe Kaira De Beers’ diamond production rose 38% to 7.7 million carats in the third quarter of 2025, driven by higher output from its Jwaneng mine in Botswana, parent company Anglo American said in its quarterly production report. De Beers operates through joint ventures with the Namibian government, including the Namibia Diamond Trading Company, Debmarine Namibia, and Namdeb land operations. Production in Botswana climbed 51% to 6 million carats as Jwaneng processed higher-grade ore ahead of an extended maintenance shutdown planned for the entire fourth quarter. Orapa also resumed operations after a scheduled shutdown in the previous quarter. Output in…

O&L Group has said the franchise agreement with Pick n Pay South Africa concluded on 30 June 2025. The roll-out of the Model brand started on 1 July 2025, with every previously branded Pick n Pay store being rebranded to Model. Observer Money asked Carmen Maartens, O&L communications specialist, about the process of rebranding from Pick n Pay to Model.  Observer Money (OM): How has the transformation from Pick n Pay gone? Carmen Maartens (CM): The franchise agreement with Pick n Pay South Africa concluded on 30 June 2025, but preparations for this transition had been underway throughout the preceding…

Chamwe Kaira Elevate Uranium Ltd says shipping delays have pushed back the arrival of its U-pgrade pilot plant in Namibia to early November instead of early October. The company said the plant will be assembled on-site and begin operations as soon as possible. During the quarter ended in September, Elevate completed the design, construction and final factory testing of the pilot plant in Perth. The U-pgrade process removes gangue waste material and concentrates uranium minerals into a low-mass, high-grade concentrate before leaching. Elevate Uranium is listed on the Australian Securities Exchange and focuses on uranium exploration, development and the application…