Windhoek Observer

Chamwe Kaira  August recorded a trade deficit of N$5.3 billion, the highest on record, statistician general and Namibia Statistics Agency (NSA) chief executive officer Alex Shimuafeni said on Thursday.  The figure shows a sharp decline from July, when the deficit stood at only N$13 million. This, he said, is a worse off-trade balance when compared to a deficit of N$13 million recorded in the previous month.  "Between August 2024 and August 2025, the country experienced persistent trade deficits, with a consecutive trade surplus occurring in May and June 2025. Over this period, the trade balance averaged a deficit of N$2.7…

Chamwe Kaira  Namibia imported 1 079 GWh of electricity from South Africa in the financial year ending 31 March 2025, according to Eskom’s international sales by country report.  The imports cost Namibia N$1.5 billion in revenue contributions to Eskom. Eskom’s 2025 reporting suite covers the financial year ended 31 March 2025 and includes events up to 29 September, when the board approved the reports.  Namibia’s imports more than doubled from 423 GWh in 2024 but were below the 1,653 GWh recorded in 2022. During the same period, Eskom concluded a firm supply agreement with Namibia, Botswana and Zambia to strengthen…

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…