Observer Money

CHAMWE KAIRA  The Namibian Ports Authority (Namport) chairperson, Nangula Hamunyela, has said Namport is following with keen interest the ongoing engagements on the developments of the Grootfontein to Katima Mulilo and Trans Kalahari rail links and is of the hope that these may move to fruition in the medium term. The Trans-Zambezi Railway will extend from Grootfontein to Katima Mulilo. The proposed Trans-Kalahari Railway between Namibia and Botswana will span from Mmamabula in Botswana to Walvis Bay. Namport has said the absence of rail connections to the key markets in Botswana and Zambia remains a major cause for concern, especially…

CHAMWE KAIRA  Standard Bank Namibia Holdings Limited has entered 2025 in a forceful position. The group’s 2025 strategic priorities continue to be transforming client experience and driving sustainable growth and value, the group said in financial results for the financial year ended 31 December 2024. “We have refreshed our current strategy and crafted bold ambition for our 2025–2028 horizon with clear ‘must win’ battles for each business unit.”  The board recommended a final ordinary dividend of 70 cents per share (2023: 58 cents per ordinary share).  Profit for the year increased by 36.8%, up from N$770 million to N$1.053 billion.…

Standard Bank Namibia Holdings Limited has appointed Zebra Karirondua Kasete as independent non-executive director of SBN Holdings Limited and Standard Bank Namibia Limited.   Kasete is currently the executive vice president for the Sinomine Tsumeb Smelter. He is a senior executive and metallurgist with an international MBA and 35+ years of global mining and metal experience across senior strategic, operational, and corporate roles including managing director, executive vice president and board roles in both Rio Tinto’s subsidiaries and Dundee Precious Metals (DPM).  He is experienced in diverse commodities like uranium, borates, talc, diamond, copper and gold and strengths in transforming companies,…

Despite its vast resources and production capacity, Africa remains heavily reliant on external markets. This state of affairs has prompted Botswana to raise the alarm about low levels of intra-African trade. “It's disheartening that Africa is still unable to realise trade among its countries,” said Dr Phenyo Butale, Botswana’s Minister of International Relations, delivering a lecture in honour of the late South African Deputy Foreign Affairs Minister Dr Aziz Pahad at the North-West University (NWU).  Emphasising the need for stronger economic ties among African nations, Dr Butale questioned why countries continue to import goods readily available within the continent. “We…

CHAMWE KAIRA  Going forward, upside risks to inflation will persist, especially from food and imported goods prices, which could push up goods inflation which is more sensitive to supply-chain disruptions and raw material fluctuations, particularly amid geopolitical unrest, FNB Namibia economist Helena Mboti has said.  Mboti said given the risk of heightened geopolitical tensions, upside risk to goods inflation remains eminent.   She said Food prices are expected to remain elevated until improved harvest yields in May, while housing and utility costs face upward pressures from anticipated tariff hikes and demand-driven rental inflation. Global oil supply is expected to increase relative…

Frida Frans The urgency of integrating biodiversity conservation into Namibia’s financial and private sectors has never been more critical than it is today.  As global attention and conversation intensifies on the environmental challenges facing our planet, countries worldwide are increasingly recognizing the need to align financial and business practices with sustainability goals.  Last week the UNDP’s Biodiversity Finance Initiative (BIOFIN) in Namibia hosted a training workshop in Walvis Bay, Erongo Region, bringing together key financial and private sector stakeholders to explore innovative financing mechanisms that promote environmental sustainability. The discussions underscored the vital role financial institutions and businesses play in…

Niël Terblanché TransNamib has suspended rail traffic on several lines over the past weekend to allow technical teams to repair infrastructure damaged by recent flooding. According to the national railway operator’s spokesperson, Abigail Raubenheimer, the damage has primarily affected routes in southern and western Namibia. "TransNamib wishes to inform the public and its valued customers that recent heavy rains across the country have led to washaways in certain sections of the railway network, particularly in the southern and western regions of Namibia," she said. The railway between Usakos and Arandis was among the affected routes, but it has already been…

Niël Terblanché Namibia took another step towards industrial expansion and economic diversification as President Nangolo Mbumba officiated the groundbreaking ceremony for the Nambaza Logistics Park (NLP) and the Blue Institute of Technology (BIT) in Walvis Bay on Friday. The two projects, which are expected to boost the country’s logistics capacity and skills development, form part of a broader strategy to position Namibia as a regional economic hub. Mbumba described the event as a crucial milestone in the country’s development, saying it aligns with the national vision for industrialisation and job creation. “Nambaza is a befitting name for the logistics park…

CHAMWE KAIRA NamPower plans to spend N$15.6 billion on capital projects over the next five years. The company presented figures during a stakeholders meeting on Wednesday.  The company warned that load shedding would harm the economy and explained its commitment to supplying energy at all costs to avoid such negative impacts.  Rising commodity prices, which have surged significantly above inflation, and increasing funding costs were also highlighted as challenges. This year, the Electricity Control Board (ECB) withdrew its approval for an 8% tariff increase for 2025. NamPower said if allowed, it would have applied for an 8.7% increase. The company…

CHAMWE KAIRA  FirstRand Namibia has said while the Namibian economy faces some near-term challenges, there are strong reasons for optimism heading into 2025. The firm said certain key sectors in the primary industry, such as oil and gas exploration, uranium, copper and agriculture, coupled with supportive policy measures, should lay the foundation for sustained economic growth in the medium term, according to the FirstRand consolidated interim financial results and cash dividend declaration for the period ended 31 December 2024. The group remains well positioned to participate in opportunities in the oil and gas sector as they emerge, the firm said. …