Observer Money

Staff Writer  Bannerman Energy Ltd has strengthened its board with the appointment of chief executive officer Gavin Chamberlain as managing director and Danny Goeman as an independent non-executive director. Chamberlain joined Bannerman as chief operating officer in February 2023 and was promoted to chief executive officer in March 2024. He has experience in construction, engineering and project management in the mining sector in southern Africa. Chamberlain previously served as project director for the development of the US$2 billion Husab Uranium Project in Namibia, which is now one of the world’s largest operating uranium mines. Goeman joined Bannerman in May 2025…

Staff Writer  MultiChoice, part of CANAL+ SA, has announced that the Showmax streaming service will be discontinued following a review of its streaming operations. The decision was taken by the Showmax Board of Directors as the company reassessed its position in the global streaming market. MultiChoice said the review focused on financial sustainability and investment priorities in a competitive and capital-intensive streaming environment. The company noted that the Showmax business has recorded substantial annual losses that are no longer sustainable. “The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in…

Staff Writer  Standard Bank Namibia has been named the Best Trade Finance Provider in Namibia in the 2026 Global Finance Best Trade Finance Providers Awards. The award recognises the bank’s role in supporting cross-border trade, investment flows and business expansion. It comes as Namibia prepares for increased activity in sectors such as mining, energy, oil and gas, logistics and export agriculture. As global trade conditions shift and competition increases, businesses are seeking stronger risk management tools, efficient working capital solutions and reliable cross-border support. Standard Bank Namibia said its Corporate and Investment Banking division has expanded its trade finance services…

Chamwe Kaira  Namibia is strengthening its technical and scientific capacity as it prepares to defend its extended continental shelf claim before the United Nations Commission on the Limits of the Continental Shelf. The continental shelf refers to the part of the ocean floor that is shallower than the deep sea and usually follows the outline of the continent. Its width differs from place to place.  In some areas the seabed drops close to land, while in other areas it stretches hundreds of kilometres into the ocean. Namibia’s Walvis Ridge forms part of this wider seabed structure. To support its claim,…

Chamwe Kaira  The Criminal Assets Recovery Fund (CARF) recovered just over N$15 million in the 2024/25 financial year.  This represents an increase of just over N$300 000 compared to the amount recovered in 2023/24. The fund is financed through proceeds derived from confiscated criminal assets. It aims to ensure that money and property forfeited through crime are redirected toward public benefit. Funds recovered through CARF support crime prevention programmes, strengthen investigative capacity and fund projects aimed at reducing the social impact of criminal activity. According to the report, allocations from the fund were directed toward initiatives that support the work…

Staff Writer  Namibia is likely to feel the full impact of a global oil price shock because of its fixed exchange rate with South Africa and its reliance on imported fuel, according to a report by Simonis Storm. The Namibian dollar is pegged one-to-one to the South African rand under the Common Monetary Area. When the rand weakens against the US dollar, the Namibian dollar weakens by the same amount. Any rise in rand-denominated oil prices in South Africa is also reflected in Namibia. Namibia therefore has no independent exchange rate mechanism to soften external shocks. The Bank of Namibia…

Chamwe Kaira  FirstRand Limited has launched a N$150 billion domestic medium-term note (DMTN) programme to raise funds in the South African capital market. The programme allows FirstRand to issue a range of unsecured debt instruments.  It enables the group to raise up to N$150 billion in total outstanding nominal value, unless the limit is increased under the programme’s terms. In Namibia, FirstRand Namibia Group owns FNB Namibia and RMB Namibia. Notes under the programme may be issued on a continuous basis. They may be structured as senior or subordinated instruments. Some notes may qualify as regulatory capital or FLAC (FirstRand…

Staff Writer Proflight Zambia has launched a new Lusaka–Livingstone–Windhoek flight service, creating a direct link between Zambia and Namibia. The route connects the three cities and allows passengers to travel between Lusaka, Livingstone and Windhoek on the same day. The airline says the service will support business travel, tourism and investment between the two countries. Speaking at the launch, Zambian minister of transport and logistics Frank Museba Tayali said the new service supports the government’s plan to position Zambia as a transport and logistics hub in the region. “You all know that it has been a long aspiration of our…

Staff Writer  The governor of the Bank of Namibia, Ebson Uanguta, and the governor of the South African Reserve Bank, Lesetja Kganyago, have signed a revised memorandum of understanding (MoU) in Pretoria, South Africa. The signing took place during Uanguta’s courtesy visit to the South African Reserve Bank and strengthens cooperation between the two central banks. The new agreement replaces the earlier memorandum signed on 11 September 2015. The revised MoU reflects changes in the financial sector in both countries.  It recognises stronger supervisory roles for central banks, the development of resolution frameworks and the growing complexity of financial institutions…

Staff Writer  Oryx Properties Limited expects stronger interim financial results for the period ended 31 December 2025. In a trading statement issued under the Namibia Securities Exchange Listings Requirements, the company informed unitholders that its distribution per linked unit is expected to increase by between 10% and 30% compared to the same period last year. Earnings per share, profit for the period and headline earnings are also expected to rise by more than 30% compared to the previous corresponding period. The company said the improvement is linked to operational contributions from the Platz am Meer Shopping Centre and a supportive…