Windhoek Observer – Page 132 – Windhoek Observer

30 Sep

Deadline slip knocks former Lüderitz mayor out of elections

National News

Allexer Namundjembo The newly formed Lüderitz Ratepayers Association (LRA), led by former Independent Patriots for Change (IPC) member and former Lüderitz mayor Phillipus Balhao, will not contest this year’s regional and local authority elections. This comes after the association missed the Electoral Commission of Namibia’s (ECN) registration deadline. Balhao confirmed the setback and ruled out standing as an independent candidate in the regional elections. “I don’t have any plans to contest as an independent candidate for the regional constituency council. I felt my efforts would be more impactful at the town council,” he told the Windhoek Observer on Monday. Balhao…

30 Sep

Citizens urged to safeguard Katutura Hospital investment

National News

Hertta-Maria Amutenja Katutura Intermediate Hospital has received its first low-dosage lodox full-body X-ray machine, with calls for citizens to take ownership of the facility and protect it as a national health lifeline. The N$13.2 million machine was donated by the Motor Vehicle Accident (MVA) Fund to the Ministry of Health and Social Services during an official handover in Windhoek yesterday. MVA Fund chief executive officer Rosalia Martins-Hausiku said the installation strengthens trauma care and urged communities to treat Katutura Hospital as a shared responsibility. “Katutura State Hospital is more than a building – it is a lifeline. Citizens of Windhoek,…

30 Sep

Sankwasa pushes local authorities to speed up land delivery

National News

Hertta-Maria Amutenja Urban and Rural Development minister James Sankwasa has urged local authorities to fast-track land preparation and allocation to meet the government’s informal settlement upgrading targets. Speaking at a land handover ceremony in Outapi on Friday, his advisor Boniface Mutumba delivered the minister’s remarks, saying the ministry was financing land development but expected councils to align their execution plans with central government requirements. The ceremony marked the handover of Land Hold Titles to residents under the Flexible Land Tenure System (FLTS), aimed at providing secure tenure for urban residents living in informal settlements. Sankwasa said the system was created…

30 Sep

Policy uncertainty to test mining sector’s resilience

Observer Money

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector remains broadly positive, supported by strong global demand for gold and uranium. In a quarterly report, the Chamber noted that elevated gold prices are boosting profitability and fiscal contributions, while uranium continues to benefit from its critical role in the global energy transition. “This positive price environment strengthens the investment case for new and advancing projects, such as Bannerman Energy’s Etango-8 uranium development and Reptile Mineral Resources’ Tumas uranium project, while providing favourable conditions for the construction of Osino’s Twin Hills gold project,” the…

30 Sep

Microlending loan book grew to N$8.1 billion

Observer Money

Chamwe Kaira The microlending loan book grew by 12.8% year-on-year, reaching N$8.1 billion by the end of 2024, the Namibia Financial Institutions Supervisory Authority (Namfisa) said in its 2025 annual report. The growth was reflected in higher disbursement figures, supported by both term lenders and payday lenders. Namfisa said term lenders accounted for the largest share of the loan book’s value, totalling N$7.6 billion, or about 94% of the total. The total value of disbursed loans rose by 44.9% from the previous year, reaching N$5.2 billion. “The growth was driven by increased transactions between lenders and borrowers in the term…

30 Sep

BoN rolls out new banknotes and coins

Observer Money

Staff Writer The Bank of Namibia (BoN) has officially introduced the upgraded Namibian dollar banknotes and the new coinage series into circulation at a ceremony in Mariental, Hardap Region. The event followed the launch of the series by President Netumbo Nandi-Ndaitwah on 23 July, during the bank’s 35th anniversary celebrations under the theme ‘Our Currency, Our Heritage, Our Pride – Meet the Next Generation of the Namibia Dollar.' BoN said the choice of Mariental was deliberate, showing its commitment to inclusivity and to celebrating national milestones beyond the capital. It said the Namibian dollar is more than a medium of…

30 Sep

Rising agriculture output set to boost meat processing

Observer Money

Chamwe Kaira FNB Namibia expects improvements in agriculture to support both the primary sector and downstream meat processing, while tourism is projected to recover strongly. Hotels and restaurants are likely to surpass 2019 levels during the third-quarter peak season, the bank said. Wholesale and retail trade are also expected to rebound if investment spending remains resilient. “From 2026 onwards, low base effects will further support the rebound. Therefore, while the 2Q25 print was weaker than expected, we maintain our view that GDP growth could still reach 3% in 2025, underpinned by the cyclical turnaround in agriculture and manufacturing, as well…

30 Sep

Erongo Red staff to invest through salary deductions

Observer Money

Staff Writer Erongo Red employees will now be able to invest through salary deductions after the company recently formalised a payroll deduction agreement with NAMITVEST at its head office in Walvis Bay. The initiative allows Erongo Red employees, especially members and former members of the Mineworkers Union of Namibia (MUN) and their dependents, to invest in Just Transition Investment (JTT) Namibia Limited through automatic deductions from their salaries. It creates a structured pathway for workers to build personal wealth, accumulate assets, and participate in the company’s growth. NAMITVEST principal officer Jason Kasuto said the payroll initiative “ensures financial security through…

30 Sep

Nedbank staff showcase side hustles at market day

Observer Money

Nedbank Namibia hosted its second annual staff market day at the Nedbank Campus in Windhoek, reaffirming its commitment to nurturing employee entrepreneurship, creativity, and multidimensional talent. The initiative, part of Nedbank’s human capital strategy, gives employees a platform to showcase their personal business ventures, often referred to as side hustles, outside of their formal work duties. This year, 17 employees took part, offering a mix of products and services that included home-cooked meals, handmade crafts, vintage clothing, natural haircare products, custom spices, and innovative items such as 3D-printed accessories and décor. Photo: Nedbank

30 Sep

INSURING NAMIBIA | Long-term insurance held 2.1m policies in 2024

Observer Money

Chamwe Kaira The number of active long-term insurance policies grew by 13.1% to 2,166,896 by the end of 2024. The growth was mainly driven by a higher volume of new policies underwritten during the year. The sector recorded growth in its assets, supported by recoveries in both global and local financial markets. The value of assets rose by 12.9% to N$83.8 billion as of 31 December 2024. This increase was largely driven by an expansion of the investment portfolio. Excess assets increased by 15.4%, supported by stronger growth in total assets compared with total liabilities. The value of total liabilities…