Windhoek Observer

Chamwe Kaira  The GCR Ratings has upgraded Bank Windhoek Limited’s Namibian long-term national scale issuer rating to AA+(NA) from AA(NA).  The short-term issuer rating was affirmed at A1+(NA). The South African long-term issuer rating also moved up to A+(ZA) from A(ZA). The outlooks remain stable, the rating agency said. The ratings reflect a strong franchise, disciplined governance, adequate capital, and sound funding and liquidity, with stable risk metrics. “The principal exogenous swing factor is Botswana’s liquidity cycle, negatively impacting Botswana-based Bank Gaborone Limited’s (BG) financial profile,” GCR said. Bank Windhoek is a wholly-owned subsidiary of the Capricorn Group and represents…

Chamwe Kaira  Fashion retailer Truworths International has reaffirmed its presence in Namibia with 12 stores across the country as part of its African retail footprint.  The group operates 33 outlets outside South Africa, including 12 in Namibia, 12 in Botswana, five in Eswatini, two in Zambia, and two in Lesotho. Truworths, listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange, and A2X, said it is strengthening customer access through both physical and digital channels. Its online platform grew rapidly in 2025, with e-commerce sales rising 33.7% to account for 6.5% of Truworths Africa’s total retail sales. The company confirmed…

Chamwe Kaira  Oryx Properties has included in its funding strategy the upcoming maturity of its N$248.5 million corporate bond due in November.  The company said discussions with potential investors and arrangers are already underway. “The directors are confident in the group’s ability to refinance or repay the bond through available liquidity or new issuances,” Oryx said. For the year ended 30 June 2025, Oryx reported a net asset value of N$2.58 billion, down from N$2.77 billion in 2024.  Available funding stood at N$385 million, excluding a Domestic Medium-Term Note Programme of N$251.5 million and ring-fenced facilities of N$154 million for…

Chamwe Kaira  Bannerman Energy says early construction works at the Etango uranium project are on track with both budget and schedule.  The executive chairman of Bannermann Brandon Munro said detailed design work on the Etango process plant is progressing well, with dry plant engineering now about 86% complete. “I am pleased with the on-time, on-budget progress that the Bannerman team is achieving in conjunction with our contractors. Our focus on tight contract and activity controls continues to be consistently applied by the team,” Munro said. The bulk earthworks contract, awarded in August 2024 for a 24-month period, is 42% complete…

Chamwe Kaira  Deep Yellow, the developer of the Tumas uranium project in the Erongo Region, said firm volume and price offers have been received from NamWater and NamPower at or below those assumed in the 2025 definitive feasibility study. “The power and water supply contracts are being finalised and are expected to be executed during the fourth quarter of the 2025 calendar year. Ongoing work continues to reinforce Tumas as a robust project and one of the most advanced greenfield uranium development projects available globally,” the company said in its annual report. During the first half of 2025, Deep Yellow…

Allexer Namundjembo The Bank of Namibia (BoN) has welcomed the decision by commercial banks to reduce the spread between the repo rate and prime rates, including mortgage and other lending rates.  The move follows the central bank’s guidance to cut the margin by 25 basis points. The adjustment is being rolled out in two phases. The first reduction of 12.5 basis points took effect on 30 September 2025.  A further 12.5 basis point cut is expected by 31 December 2025. “This policy measure aims to narrow Namibia’s historically wide interest rate margins, thereby making credit more affordable for households and…

Staff Writer  African Export-Import Bank (Afreximbank) has signed a facility agreement with NBS Bank Plc Malawi to provide a US$100 million Afreximbank Trade Facilitation Programme (AFTRAF) line of credit.  The facility will support NBS Bank’s growing trade finance portfolio and enable it to continue meeting the needs of its trade clients. The agreement was signed on the sidelines of the Intra-African Trade Fair 2025 by Haytham El Maayergi, Afreximbank executive vice president, Global Trade Bank, and Temwani Simwaka, chief executive officer of NBS Bank.  The facility is designed to increase NBS Bank’s trade volumes and support imports of essential commodities…