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CHAMWE KAIRA  Pension fund PPS South Africa has said its members in Namibia should again be pleased with the profits that were generated for them. This year, the company allocated a record-high N5.59 billion in profit share to South African and Namibian members with qualifying life-risk products to their notional PPS profit-share accounts. This amount follows the previous record-high allocation of N5.46 billion in 2021. Additionally, the annual gross benefits paid were N$5.95 billion (2023: N$6.12 billion; due to lower exit claims payment). Together, these amounts totalled N$11.54 billion in 2024, compared to N$10.70 billion in 2023. “From a membership…

The Cleanergy Solutions Namibia, a joint venture between the Ohlthaver & List (O&L) Group and CMB.TECH is developing a green hydrogen production plant in the Erongo region. The Hydrogen Dune comprises hydrogen production, a refuelling station and the hydrogen academy.  Katrien Hennin of CMB.TECH gives an update in response to questions by Observer Money.  Observer Money (OM): Will the hydrogen refuelling that is expected to be operational be reserved for trucks under Cleanergy Solutions Namibia or are they for the whole Namibian market? Katrien Hennin (KH): The green hydrogen refuelling station expected to be operational mid 2025 will not be…

CHAMWE KAIRA  Simonis Storm Securities has said if exploration in the Orange Basin moves to large-scale production, Standard Bank Namibia has established relationships with key upstream players that should translate into mandates for project finance, transactional banking, and treasury services. The firm said this upside scenario could accelerate the loan book well beyond single-digit growth. In terms of renewable energy financing, Namibia’s push for wind and solar in remote areas intersects with growing private sector appetite for sustainable energy solutions. It said other banks are refining digital strategies but said Standard Bank Namibia Holdings’ synergy with the broader Standard Bank…

The International Air Transport Association (IATA) emphasized the vital role of air cargo in maintaining global supply chain resilience and called on governments and industry to remain focused on delivering the fundamental expectations of customers, safety and security, digitalisation and sustainability. “Whether supporting global trade, enabling e-commerce, or delivering vital humanitarian aid, the value of air cargo has never been clearer. To meet customer expectations and navigate an increasingly complex environment, the air cargo industry must continuously strengthen safety and security, fast track digitalization, and deliver on its sustainability commitments,” said Brendan Sullivan, IATA’s Global Head of Cargo at the…

Global geopolitical risks remain elevated, raising concerns about their potential impact on economic and financial stability. Shocks such as wars, diplomatic tensions, or terrorism can disrupt cross-border trade and investment. This can hurt asset prices, affect financial institutions, and curtail lending to the private sector, weighing on economic activity and posing a threat to financial stability. Such risks are challenging for investors to price due to their unique nature, rare occurrence, and uncertain duration and scope. This can lead to sharp market reactions when geopolitical shocks materialise.  As we show in a chapter of the latest Global Financial Stability Report,…

The Communications Regulatory Authority of Namibia (CRAN) officially launched the Namibia Cyber Security Incident Response Team (NAM-CSIRT) in Windhoek. This significant milestone reflects CRAN’s commitment to advancing Namibia’s cyber resilience and safeguarding the nation’s digital infrastructure from increasingly complex cyber threats. As Namibia embraces the digital age, the nation is presented with vast opportunities for economic development, innovation, and enhanced social connectivity. However, these benefits come with growing cybersecurity risks that demand immediate and coordinated responses. CRAN Board Chairperson, Tulimevava Mufeti, emphasised that cybercrime is a global issue that impacts individuals, businesses, and governments alike.  “Addressing these threats requires a…

CHAMWE KAIRA  FNB Namibia economist Helena Mboti is of the view that inflation will remain elevated but relatively contained. “We expect transport inflation to stay muted amid subdued demand and ongoing geopolitical uncertainty. However, housing and utilities inflation is likely to remain high because of the expected increase in electricity tariffs in 2025,” she said. In 2024, the government subsidised NamPower's proposed 8% electricity tariff hike, allowing electricity costs to remain unchanged for the year.. Mboti said as a result, NamPower is likely to propose a larger tariff increase in 2025 to recover deferred costs. “We also expect continued pressures…

CHAMWE KAIRA  Reconnaissance Energy Africa Ltd has announced a drilling update on Prospect I. IProspect I is located onshore in Kavango in Petroleum Exploration Licence 073 (PEL73) and is the company’s largest prospect to be drilled so far. The company is targeting an estimated 365 million barrels of unrisked and 32 million barrels of risked prospective light to medium oil resources. For natural gas, the estimate stands at 1.9 trillion cubic feet unrisked and 140 billion cubic feet risked, based on an independent prospective resources report by Netherland, Sewell & Associates, Inc. ReconAfrica President and CEO Brian Reinsborough said the…