Observer Money

Chamwe Kaira  The Ministry of Finance must work with Parliament to fast-track the Public Finance Management Bill to ensure that the country's public debt remains sustainable, the chairperson of the Parliamentary standing committee on economy and industry, public administration and planning has said.  Shiimi called for close monitoring of Namibia’s reclassification by the World Bank to a lower-middle-income status. He urged the Ministry of Industrialisation and Trade to finalise and table the International Trade Management Bill and the Investment Promotion Bill while strengthening collaboration with the private sector to boost job creation. These recommendations are contained in a report tabled…

Chamwe Kaira  The deputy governor of the Bank of Namibia (BoN), Ebson Uanguta, has described the informal economy as a reflection of the resilience and entrepreneurial spirit of Namibians. Speaking at the launch of the diagnostic report on informality in Namibia in Windhoek this week, Uanguta said the sector operates without enough safety nets or protections. He warned that the report should not become a document that gathers dust but should drive real change. “For the majority of Namibians, the informal sector is the economy,” he said.  “We can no longer afford to plan in the dark. This report offers…

Chamwe Kaira  Osino Gold Exploration and Mining (Pty) Ltd has updated its final environmental impact assessment (EIA) scoping report for the proposed abstraction of groundwater from the Kranzberg Aquifer in Usakos, Erongo region. The project aims to secure a reliable water source for the Twin Hills Gold Mine, located about 25 kilometres northeast of Karibib, without affecting the surrounding environment or local communities. Twin Hills is Namibia’s third and newest gold mine, with a lifespan of 13 years and over 2 million ounces in reserves.  The mine represents a total investment of US$475 million and is expected to produce 162…

Staff Writer  Standard Bank Namibia, in partnership with the Namibia Investment and Finance Academy (NIFA), will host the Market Access & Trade Opportunity Evening today in Windhoek. The event aims to equip Namibian entrepreneurs and MSMEs with practical knowledge and connections to expand their trade networks, improve competitiveness, and access new markets across borders. It forms part of the Standard Bank Blue Growth Series, an initiative focused on driving SME growth, financial inclusion, and sustainable entrepreneurship in Namibia.  The session is open to the public and not limited to Standard Bank clients. It targets both formal and informal businesses involved…

Staff Writer  Bank Windhoek has launched its EasyWallet On-Send feature, allowing customers to send money instantly from one EasyWallet to another.  The feature, the first of its kind in Namibia, enables users to transfer funds even to people without bank accounts. After a successful soft launch earlier this month, EasyWallet On-Send is now available to the public through Bank Windhoek’s USSD Cellphone Banking menu.  It is currently accessible to MTC mobile users and will soon expand to TN Mobile customers. To use the service, customers must complete a quick, one-time Know Your Customer (KYC) verification by entering their ID or…

Chamwe Kaira  President Duma Boko has emphasised Botswana's commitment to strengthening its energy independence and improving its investment climate.  He outlined steps to boost local electricity generation, expand renewable energy, and modernise infrastructure to attract investors. Speaking during the state of the nation address, Boko said Botswana’s current electricity demand stands at 700 megawatts (MW) at peak and 450 MW nominal, with about 65 to 70% supplied locally and the rest imported.  To ensure a secure energy supply and build export capacity, the government is scaling up both renewable and thermal power generation. Under its renewable energy drive, Botswana is…

Chamwe Kaira Namibia’s informal economy contributes about US$13 billion (approximately N$240.5 billion) in purchasing power parity (PPP) terms and remains one of the largest drivers of employment and income in the country. According to the national informal economy, startups and entrepreneurship development policy (NIESEP), the informal economy contributed an estimated 24.7% of gross domestic product (GDP) in 2023, roughly US$8 billion (N$148 billion) in purchasing power parity (PPP) terms. By 2025, this share has grown to 26.5%, equal to about US$13 billion.  The informal economy also employs about 58% of the country's workforce, making it a central part of the…

Chamwe Kaira Namibia’s mining sector showed mixed but steady performance in September as global economic conditions remained fragile. This is according to the Chamber of Mines of Namibia’s monthly mining update for September. Despite trade disruptions and higher tariffs, uranium and gold continued to drive growth and sustain export earnings, confirming the sector’s importance to the national economy. “While the global outlook remains uncertain, Namibia’s mining industry continues to show resilience,” said Veston Malango, chief executive officer of the Chamber of Mines.  “Strong uranium and gold performance, coupled with investor confidence in our critical-mineral potential, positions Namibia well for long-term…

Staff Writer Standard Bank Namibia and RMB Namibia, in partnership with Terminal Investment Namibia (TIN), will fund a N$2.1 billion project to modernise the Port of Walvis Bay. The investment will help transform the port into a leading African transshipment hub. The collaboration supports TIN’s capital expenditure programme, which aims to upgrade terminal operations, increase capacity, and strengthen Namibia’s role as a key gateway for regional trade.  The project follows Namport’s decision to grant TIN a 25-year concession to operate and maintain the container terminal at Walvis Bay. Standard Bank Namibia and RMB Namibia structured and arranged the external funding…

Staff Writer Acacia-Composites Manufacturing, Africa’s only producer of Wood Plastic Composite (WPC) decking, cladding and battens, has signed a distribution agreement with Halsted Builders Express Zimbabwe, the leading construction and building supply company in Zimbabwe. The partnership follows an introduction to Acacia-Composites Manufacturing’s products at WoodEX for Africa in Johannesburg earlier this year.  During a visit to the Windhoek manufacturing plant, Halsted chief executive officer Stuart Knight was impressed by the quality of Acacia’s products. As a result, the two companies agreed to bring Acacia’s WPC decking to the Zimbabwean market.  The order of high-performance decking marks a key step…