Windhoek Observer

11 May

Vehicle import bill reached N$979m in March

Observer Money

Chamwe Kaira Namibia imported commercial vehicles worth N$979 million in March, with most of the vehicles coming from South Africa, India and China, according to the latest international merchandise trade statistics released by the Namibia Statistics Agency (NSA). At the same time, the country re-exported commercial vehicles worth N$48 million, mainly to Zambia. Namibia recorded exports worth N$13.2 billion in March, while imports reached N$15.5 billion. This resulted in a trade deficit of N$2.3 billion. “This development reflects an improved trade balance when compared to a N$5.2 billion deficit recorded a month earlier and further analysis shows a N$2.3 billion…

11 May

B2Gold cuts diesel use at Otjikoto

Observer Money

Chamwe Kaira B2Gold Corporation says its Otjikoto Mine has reduced diesel consumption following the transition to underground mining in the fourth quarter of 2025. B2Gold said the shift forms part of efforts to lower operating costs and strengthen production across its mining operations. B2Gold said the Otjikoto Mine now receives power from Namibia’s national electricity grid. The company added that solar projects at the Otjikoto, Fekola and Masbate mines are helping reduce exposure to fuel price increases. According to the company, about 36% of its remaining fuel requirements for 2026 are hedged at or below budgeted fuel prices. B2Gold said…

11 May

Katti defends oil sector reforms

Observer Money

Staff Writer Businessman Knowledge Katti has called on Parliament and national leaders to support the establishment of the Upstream Petroleum Unit (UPU) and the Petroleum Amendment Bill, saying the reforms are needed to help Namibia move from oil exploration to production. In a memorandum addressed to parliamentarians and national leaders, Katti said the creation of the UPU in the office of President Netumbo Nandi-Ndaitwah was meant to address long-standing governance and operational problems in the petroleum sector. Katti said the President inherited a sector facing major challenges, including a national oil company struggling financially and institutionally, declining investor confidence and…

11 May

Asset manager forecasts improved financial results

Observer Money

Chamwe Kaira Namibia Asset Management Ltd (NAM) expects earnings per share and headline earnings per share for the six-month period ended 31 March 2026 to increase by between 20% and 30% compared to the same period last year. In a trading statement issued on 7 May, the company said earnings per share are expected to increase from 3.46 cents recorded in March 2025 to between 4.15 cents and 4.50 cents. Headline earnings per share are also expected to rise from 3.46 cents to between 4.15 cents and 4.50 cents during the reporting period. NAM anticipates a stronger growth of between…

11 May

NSX overall index gains 5.74% since January

Observer Money

Chamwe Kaira The Namibian Securities Exchange (NSX) overall index has gained 5.74% since the start of 2026, closing at 2,329.01 points during the trading week from 4 May to 8 May. The local index increased by 2.42% year-to-date to close at 834.16 points. The overall index also rose by 0.87% compared to the previous trading day. South Africa’s JSE All Share Index also recorded gains, rising 0.69% to 117 888.93 points. Among sectors listed on the NSX, basic materials recorded the strongest growth since the start of the year. The sector climbed 13.17% to close at 894.44 points, reaching a…

11 May

Education ministry wants out of Chicco building deal …as it pays N$1.1 million monthly for empty building

National News, Uncategorised

Renthia Kaimbi The Ministry of Education, Innovation, Youth, Sports, Arts and Culture has sought urgent legal advice from the office of the attorney general to cancel a lease agreement with northern businessman Erastus ‘Chicco’ Shapumba for an unoccupied building in Independence Avenue, documents seen by the Windhoek Observer reveal. The lease agreement, signed in December 2023 between the Ministry of Works and Transport on behalf of the education ministry and Shapumba’s City Place and Property Management (Pty) Ltd, has cost the state about N$1.1 million per month since 2024 for a building that remains empty and is allegedly unsuitable for…

11 May

Farmers fear market loss after Katima abattoir scale down

National News

Patience Makwele The scaling down of operations by the Meat Corporation of Namibia (Meatco) at the Katima Mulilo abattoir has left farmers in the Zambezi region uncertain about the future of cattle marketing and the stability of the local livestock sector. Zambezi livestock farmer Kwenani Matengu said the development has created uncertainty among producers, although he was not entirely surprised by Meatco’s decision. “There is uncertainty, but for me it is not entirely new. I understand that Meatco was operating under a contract, so at some point it was going to come to an end,” he said. Matengu said farmers…

11 May

Hard choices, hard realities: Why Meatco’s Katima exit must be viewed in context

Editorial

The decision by Meatco to wind down operations at the Katima Mulilo abattoir in the Zambezi region has unsurprisingly triggered concern, frustration and criticism. For many in the northern communal areas, the facility represented more than a meat processing plant. It was an important market access point for communal farmers, a source of local employment, and a symbol of government and industry efforts to integrate Namibia’s northern livestock producers into the formal value chain. Now, with Meatco confirming that operations are being scaled down following the expiry of its operational agreement with the Zambezi Meat Corporation (Zamco), emotions are understandably…

11 May

Windhoek residents question CoW’s debt reduction

National News

Allexer Namundjembo The recent announcement by the City of Windhoek (CoW) that its debt has been reduced from N$888 million to N$869 million has sparked criticism from residents, who say the municipality spends more money on salaries while service delivery remains poor. The reduction means CoW has lowered its debt by N$19 million, with N$869 million still outstanding. Windhoek mayor Sackaria Uunona announced the figures on Thursday during an ordinary council meeting. “These figures demonstrate gradual but meaningful progress in strengthening financial discipline, improving revenue management and restoring the municipality’s fiscal sustainability,” Uunona said. Reacting to the announcement, Windhoek resident…

11 May

Rundu Technology Centre to reopen in three months

National News

Patience Makwele The Ministry of Agriculture, Fisheries, Water and Land Reform is moving to revive the long-dormant Rundu Technology Centre. The N$36 million facility has struggled to fulfil its mandate since its establishment more than a decade ago. The ministry recently held stakeholder consultations in Rundu to map out a recovery plan for the centre, which was originally created to support agricultural mechanisation for green scheme irrigation projects and subsistence farmers across Namibia. The centre is expected to reopen in the next three months. Speaking during the engagement, director of agricultural production Ben Haraseb said the ministry is reassessing the…