Observer Money

Chamwe Kaira The Government Institution Pension Fund (GIPF) is finalising a Memorandum of Understanding (MoU) with the Office of the Prime Minister for the Pension Backed Home Loan Scheme (PBHL). Edwin Tjiramba, general manager for marketing and stakeholder engagement, told Observer Money that the fund will soon inform members and stakeholders of the outcome and the way forward.  He declined to answer further questions, saying the fund is not in a position to share more information at this stage. In its 2024 Annual Report, GIPF said it had been engaging stakeholders on the PBHL scheme. The initiative is designed to…

Observer Money (OM): Recently, the Electricity Control Board (ECB) said Namibia needs a power plant for base load generation. What would be the ideal capacity in the eyes of the ECB? Robert Kahimise (RK): The ideal capacity of a base load power plant based on the current developments can be like the following: Baines Hydro Power Plant (300-400 MW) as a long-term solution, an allocation of 200 MW to BW Kudu in line with the cabinet directive to offer base load power in the short to medium term, with a load profile in accordance with both the expiry of import…

Chamwe Kaira Walvis Bay Harbour recorded exports worth N$5.6 billion in April, making it the top export point for the month.  Eros Airport followed with exports of N$2.4 billion, while the Katima Mulilo border post accounted for N$1.1 billion, according to the Namibia Statistics Agency’s April trade report. On the import side, Walvis Bay Harbour remained the main entry point with imports valued at N$5 billion. Ariamsvlei recorded N$3.2 billion in imports, and the Trans Kalahari border post followed with N$1.7 billion. Sea transport remained the most used export mode, handling goods worth N$6.1 billion. This represented 55.5% of Namibia’s…

Chamwe Kaira Namibia recorded a 3.5% annual inflation rate in May, placing it in a stable position compared to neighbouring countries. South Africa reported a lower inflation rate of 2.8% in April, which remained within the target range set by the South African Reserve Bank, according to a report by Simonis Storm Securities. Botswana maintained low and steady inflation, with prices rising by 2.3% year-on-year in April. In contrast, some countries in the region are facing much higher inflation. Zambia recorded an inflation rate of 15.3% in May, down from 16.5% in April. Angola’s inflation dropped to 20.74% in May,…

Chamwe Kaira SLR Environmental Consulting (Namibia) submitted the final scoping report for the proposed development of the Offshore Venus Field in Block 2913B to the Ministry of Mines and Energy and the Ministry of Environment, Forestry and Tourism on 30 May. TotalEnergies EP Namibia B.V. (TEEPNA), together with joint venture partners NAMCOR and QatarEnergy, holds the exploration licence for Block 2913B, located offshore southern Namibia.  Following positive exploration and appraisal results and ongoing development studies, the joint venture is now assessing the feasibility of producing oil commercially from the Venus Field. The Venus Field lies about 320 km southwest of…

Chamwe Kaira Koryx Copper Inc. has announced significant progress on its Haib Copper Project in southern Namibia.  Haib is a copper-molybdenum project expected to produce clean copper concentrate through conventional crushing, milling, and flotation, with potential for additional copper production through heap leaching. Koryx Copper President and CEO Heye Daun said, “We are very pleased with the substantial progress we have made with the met testwork, process flowsheet and infrastructure development aspects of the Haib copper project during the last six months. Results are highly encouraging and are being incorporated in the preliminary economic assessment (PEA) which we are preparing…

2024 was a record-breaking year for air travel, with global passenger numbers reaching 5.3 billion, the highest in aviation history.  As the volume of passengers soared, so did the number of bags handled.  Yet the rate of mishandled baggage continued to decline, according to the newly released SITA Baggage IT Insights 2025. This is a clear sign of industry progress, though challenges remain. The mishandling rate dropped to 6.3 bags per 1000 passengers in 2024, down from 6.9 the previous year, a 67% improvement since 2007.  This drop is even more significant considering the surge in global traffic, which grew…

Justicia Shipena The Monetary Policy Committee (MPC) of the Bank of Namibia (BoN) is calling on commercial banks to align their lending margins with those of other countries in the Common Monetary Area (CMA). According to BoN governor Johannes !Gawaxab, Namibia is currently the only CMA country where the prime lending rate exceeds the repo rate by more than 3.50 percentage points.  In Namibia, the margin remains at 3.75 percentage points. “This move will address this anomaly and, in time, provide relief to consumers,” said !Gawaxab.  He further stated that banks will receive a specific timeframe to modify their operational…

Justicia Shipena  The Mineworkers Union of Namibia's (MUN) NAMIT SME Fund has disbursed over N$800,000 to entrepreneurs across various regions since its establishment in 2024. The fund helps current and former union members start or grow their small businesses. So far, 54 applications have been received this year.  The MUN said this signals a strong interest in the union’s push for inclusive economic empowerment. This development was shared during the Western Regional Roundtable held in the Erongo region on 18 June.  The roundtable is part of MUN’s national series of forums to improve engagement between the union leadership and its…

Hertta-Maria Amutenja Deputy Minister of Industrialisation and Trade, Gaudentia Kröhne, has warned that the imposition of a 21% United States tariff on Namibian mineral exports could stall trade momentum and threaten future economic opportunities under the African Growth and Opportunity Act (AGOA). Speaking during a ministerial roundtable on the promotion of natural diamonds in Luanda on Tuesday, Kröhne described the April 2025 executive order from the US as a major threat to Namibia’s diamond industry and broader trade prospects. “Namibia now faces a reciprocal 21% tariff on mineral exports, including diamonds, to the US, a significant market for Namibian goods.…