Windhoek Observer

Chamwe Kaira The Bank of Namibia (BoN) has launched a gold accumulation strategy to diversify the country’s foreign exchange reserves and strengthen economic stability amid global uncertainty. BoN governor Johannes !Gawaxab said the strategy is part of a broader effort to protect Namibia’s financial system and improve its resilience against external shocks. He said gold will now form a key component of the central bank’s reserves portfolio, targeting 3% of total net foreign exchange holdings.  The gold will be acquired from local mines, kept under domestic custody and stored as London Bullion Market Association (LBMA) good delivery bars with 99.9%…

Chamwe Kaira  The global economy continues to show resilience, even as forecasts point to slightly slower growth in the coming years. Bank of Namibia (BoN) governor Johannes !Gawaxab said this week that since the last Monetary Policy Committee meeting in August, inflation trends have moved in different directions across major economies, while global stock markets have strengthened and bond yields have declined. “The US Federal Reserve cut its policy rate for the first time this year, marking a shift in its monetary stance, while most other major central banks opted to hold their rates steady,” he said. The Organisation for…

Chamwe Kaira Private Sector Credit Extension (PSCE) rose slightly to 5.8% year-on-year in August 2025, compared to 5.7% in July, showing a gradual recovery in credit demand driven mainly by corporate borrowing, according to FNB Namibia economist Helena Mboti. Mboti said the modest increase reflects a cautiously improving credit environment supported by stronger business confidence and continued investment activity. Household credit expansion, however, remains limited due to weak income growth and affordability constraints. Corporate credit led the growth, rising 10.3% year-on-year in August from 10.1% in July. Mboti said the increase was mainly supported by higher demand for other loans…

Chamwe Kaira Paladin Energy Limited has reported record quarterly uranium production from its Langer Heinrich Mine in the Erongo region, marking another milestone in the mine’s ramp-up phase since restarting operations. The Australian Stock Exchange-listed uranium producer said output reached 1,066,496 pounds of uranium oxide during the quarter ending 30 September, up from 993,843 pounds in the previous quarter.  The company said the performance reflects “increasing operational strength and capability” as it moves towards full-scale production. Sales for the quarter totalled 533 789 pounds of uranium oxide at an average realised price of US$67.40 per pound, compared to US$55.60 in…

Chamwe Kaira Bannerman Energy Ltd has reported continued strong progress at its Etango Uranium Project, achieving major milestones in construction, design, and marketing as it moves closer to a potential Final Investment Decision (FID), subject to market conditions. The company maintained an excellent safety record, marking 16 years without a lost-time injury.  Early works construction remains on budget and schedule, with construction power now commissioned within the mining licence area.  Detailed design for the process plant is 86% complete, and a factory acceptance test for the High Pressure Grinding Rolls tertiary crusher has been successfully completed. Bannerman awarded contracts for…

Staff Writer Trustco Group Holdings has reported progress toward finalising its long-awaited annual financial statements while reminding investors to remain cautious as it moves ahead with plans to delist from three stock exchanges. The Windhoek-based investment group said on Monday it continues to work with regulators to complete the audit of its financial results for the year ended 31 August 2024.  The process has been more complex than usual following changes to the Johannesburg Stock Exchange’s (JSE) Listings Requirements on auditor appointments. Previously, Trustco was required to appoint two audit firms—one accredited by the JSE in South Africa (Nexia SAB&T)…