Observer Money

Staff Writer The Namibia Revenue Agency (NamRA) has reminded taxpayers, traders, tax professionals and the public of their legal obligation to retain business records and supporting documents for at least five years in line with Namibia's tax legislation. NamRA said the requirement is provided for under the Income Tax Act, 1981 (Act No. 24 of 1981), the Value-Added Tax Act, 2000 (Act No. 10 of 2000), and the Customs and Excise Act, 1998 (Act No. 20 of 1998). The agency said taxpayers and traders are generally required to keep relevant books, records and supporting documents for a period of five…

Staff Writer Namibian-listed equities recorded modest gains in the latest trading session, with the Overall Index increasing by 12.14 points, or 0.53%, to close at 2,305.40 points compared to the previous day’s 2,293.26 points on Tuesday, 14 June during trading on the Namibia Securities Exchange The Overall Index has gained 7.66% since December 2025, when it stood at 2,141.33 points. The index reached a 2026 high of 2,428.98 points and a low of 2,070.30 points during the year. The index recorded an actual dividend yield of 3.56. The Local Index remained largely unchanged, edging up by 0.15 points, or 0.02%,…

Staff Writer  Nictus Holdings Limited has appointed Henrico du Plessis as its chief executive officer with effect from 1 July 2026 as part of the company's long-term succession planning process. The Namibia Stock Exchange-listed company said the appointment follows a structured leadership development and executive succession programme undertaken by the board of directors and its Remuneration and Nomination Committee. According to Nictus, the appointment is aimed at ensuring orderly leadership succession and long-term management continuity across the group. Du Plessis has extensive experience within the Nictus Group and currently serves as managing director of NHL Tyre and Tire (Pty) Ltd…

In a recent radio interview, Willie Storm, a regenerative farmer of South Africa, reflected on June, when he visited farms across Namibia, evaluating veld condition and grazing management.  Much of his approach is based on direct field observation. His impressions, offered region by region, touch on several issues that are current for Namibian livestock producers including Veld condition after good rains, bush encroachment, the sustainability of charcoal as a debushing income stream and the difficulty of managing rest-based grazing where predators and migratory game are present.  Storm reported that the Kalahari veld he visited in the southeast was in excellent…

CHAMWE KAIRA The development of the multi-billion Namibian dollar, Neckartal Dam Irrigation Scheme continues to face challenges, including resistance from some landowners to sell identified portions of farmland and a lack of dedicated funding for land acquisition, according to the ministry of agriculture, fisheries, water and land reform (MAFWLR).  The project aims to create 11 000 jobs. The ministry said these challenges have slowed progress in securing all the land required to fully implement the irrigation project, despite the completion of the Neckartal Dam and its handover to NamWater. A presentation by MAFWLR deputy executive director, Petrus Nangolo indicated that…

Staff Writer The Namibia Revenue Agency (NamRA) has reminded taxpayers that its Tax Amnesty Programme will end on 31 October 2026, urging individuals and businesses with outstanding tax debts to take advantage of the relief offered before the deadline. The programme provides taxpayers with relief from interest and penalties on outstanding tax liabilities, provided they settle the capital amount owed and ensure their tax affairs are fully up to date, NamRA chief strategic communications and support officer, Yarukeekuro Ndorokaze, said.  According to NamRA, taxpayers wishing to benefit from the programme must first register as e-filers on the Integrated Tax Administration…

Staff Writer  The Cabinet has taken note of the outcomes of the 2026 International Monetary Fund (IMF) and World Bank Spring Meetings held in Washington D.C., United States, while approving a headquarters agreement to strengthen the operations of the Walvis Bay-Ndola-Lubumbashi Development Corridor Management Committee. The IMF and World Bank Spring Meetings, held from 13 to 19 April 2026, focused on economic challenges affecting Sub-Saharan African economies, particularly external-sector vulnerabilities, including limited foreign-exchange markets, currency mismatches and fragile inflation expectations. According to a Cabinet report, the meetings provided a platform to discuss measures aimed at addressing these challenges and strengthening…

Staff Writer  The Communications Regulatory Authority of Namibia (CRAN)has announced the appointment of Bridget Ellen Dundee to its management team, effective 6 July 2026. Dundee will assume the position of manager of economics and market development. Dundee will be responsible for leading economic and market research within the communications sector, informing evidence-based regulatory decisions, monitoring market competition, and driving initiatives that support sustainable growth, fair market access and improved outcomes for ICT consumers in Namibia. An accomplished industrial economist with over ten years of professional experience, Dundee has built a distinguished career across academia, regulatory research and international development work.…

Staff Writer  South African retail group Lewis Group has received a credit rating upgrade from Global Credit Ratings (GCR), with its long-term national scale issuer rating raised to AA-(ZA) from A+(ZA), reflecting sustained earnings growth, strong liquidity and a resilient business model. The Lewis Group operates 27 stores in Namibia across both urban and rural areas.  The upgrade, announced on 13 July, also saw Lewis’ short-term national scale issuer rating upgraded to A1+(ZA) from the previous rating, while the outlook was revised to Stable from Positive. GCR said the upgrade was supported by Lewis’ ability to maintain earnings growth through…

Staff Writer  The Nedbank Future of Business Conference returns on 29 July 2026 at Droombos Estate, Windhoek, bringing together business founders, leaders, and decision-makers from across Namibia and the region for a day dedicated to growth, insight, and connection. Now in its second year, the conference has grown into one of Namibia’s leading platforms for owner-managed businesses and MSMEs, offering practical, real-world strategies. This year’s programme features a strong line-up of Namibian and international speakers, panel discussions, and case studies designed to equip business leaders with tools they can apply immediately. Confirmed speakers include Sven Thieme, chief executive officer of…