Chamwe Kaira
The Grindrod Limited has said in the annual report for the financial year ended 31 December 2025 that its new 4 000m² bulk terminal warehouse facility in the Port of Walvis Bay in 2025 marked a significant collaboration between Grindrod and Namport.
The company said the facility is aimed at improving efficiency at the port and strengthening Walvis Bay’s role as a trade gateway to the west coast of Africa and neighbouring inland countries.
Grindrod operates in Namibia across clearing and forwarding, cross-border and project logistics, marine engineering, marine technology and servicing, ships’ agency, stevedoring and terminals.
The company said growth in the SADC region was supported by mining activity in Zambia and Zimbabwe and by mining and tourism in Botswana and Namibia.
Performance during the year was affected by lower commodity prices and geopolitical tensions, although ships agency services performed well in Kenya, Tanzania, Mozambique, Namibia and South Africa.
Grindrod chief executive Kwazi Mabaso said commodity markets were volatile during the year. Coal and chrome ore prices declined due to oversupply and weaker demand.
Iron ore prices fluctuated, influenced by changes in demand from China, tariffs and uncertainty in the property sector.
“These dynamics tested market participants’ agility and reinforced the importance of operational discipline and strategic foresight,” he said.
Port and terminal operations recorded higher volumes. Maputo Port handled 32 million tonnes during the year. The Matola Terminal reached 9.9 million tonnes per annum, while the MPDC-operated terminal handled 15.2 million tonnes.
The company said terminal operations improved, with reduced vessel turnaround times and increased capacity.
Chief financial officer Fathima Ally said the group reported core headline earnings of R1.17 billion, a 17.4% increase from the previous year, supported by higher volumes in the port and terminals segment. The logistics segment faced pressure.
“Whilst the rail refurbishment programme advanced significantly, low deployment constrained performance. Volatility in commodity prices resulted in a downward shift in the transport brokering business and added pressure to this already low-margin enablement business,” she said.
The group segment reported a headline loss of R169.7 million, compared to R96.7 million in 2024, affected by transaction costs and interest expenses linked to the Matola Terminal buy-up and tax costs related to cash repatriation from Mozambique.
The non-core segment reported headline earnings of R22.2 million, compared to a loss of R691.9 million in 2024.
