Blog – Page 35 – Windhoek Observer

18 Feb

Shareholders back NAM board and auditor appointments

Observer Money

Staff Writer Namibia Asset Management Ltd (NAM) shareholders approved all resolutions tabled at the company’s annual general meeting held on 12 February 2026. Shareholders noted and adopted the annual financial statements for the year ended 30 September 2025. Under ordinary resolution 1, shareholders approved remuneration for non-executive directors for the 2026 financial year. The resolution received 187.82 million votes in favour, with no votes against or abstentions. Ordinary resolution 2 approved the appointment of EY Namibia as the company’s registered auditor, as recommended by the Audit and Risk Committee. Shareholders also authorised the directors to determine the auditor’s remuneration. The…

18 Feb

Trustco general meeting invalid after defective notice

Observer Money

Staff Writer Trustco Group Holdings Limited says no valid voting took place at its general meeting held in Windhoek on Monday, after the notice convening the meeting was found to be defective. The meeting was convened at the request of Riskowitz Value Fund LP and took place at The Weinberg – Muscadel & Burgundy venue. It was called in terms of section 189(3) of the Companies Act No. 28 of 2004. Trustco chairperson Advocate Raymond Heathcote SC ruled that the notice did not comply with section 1(8) of the Act, which sets out how and when notice must be given…

17 Feb

Namibia closer to leaving FATF greylist

National News

Staff Writer Namibia has made progress in addressing concerns raised by the Financial Action Task Force (FATF) after it was placed on the FATF grey list. The government said in an update that the country continues to implement reforms to strengthen its anti-money laundering and counter-terrorism financing framework in line with FATF recommendations. Finance Intelligence Centre (FIC) director Bryan Eiseb said Namibia remains under increased monitoring while it works to complete its agreed action plan. Namibia was greylisted by the FATF Plenary on 23 February 2024 due to concerns about gaps in the effective implementation of international anti-money laundering, combating…

17 Feb

Inmates take NSC to court over study restrictions

National News

Allexer Namundjembo Eighteen inmates at the Windhoek Correctional Facility have filed an urgent application in the High Court to challenge a decision by the Namibian Correctional Service (NCS) to reduce their weekday study time from six hours to two. The urgent case was filed last week. The applicants are long-term inmates enrolled with various tertiary institutions. They are represented by Ujama Tjingee. In their founding affidavit, the inmates state that they enrolled at tertiary institutions while serving their sentences with permission from prison authorities. “Whilst serving our respective sentences, we undertook to enrol with various institutions of tertiary education for…

17 Feb

Universities under pressure over withholding qualifications

National News

Allexer Namundjembo Student representative bodies have raised concern over the continued practice by institutions of higher learning of withholding students’ academic records, transcripts and qualifications due to outstanding fees. They argue that the policy blocks graduates from entering the job market and repaying their debts. Speaking to the Windhoek Observer on Sunday, Student Union of Namibia (SUN) secretary for information and publicity Johannes Malapi said the practice traps thousands of graduates in a cycle of poverty and exclusion. He said while institutions face financial pressure and must recover outstanding fees, graduates are left with no way to repay their debts…

17 Feb

Speaker calls for job security in mining sector

National News

Justicia Shipena “The end of a life of a mine or a change in its production model should not result in job losses or job insecurity,” speaker of the National Assembly Saara Kuugongelwa-Amadhila said as she called for stronger efforts to promote decent work in Namibia’s mining sector. She made the remarks on Monday at Droombos in Windhoek while opening a public dialogue on advancing decent work in Namibia’s mining sector. The parliamentary standing committee on poverty eradication, labour and industrial relations, with support from the Friedrich-Ebert-Stiftung (FES), convened the dialogue. “Mining continues to be a strategic pillar of Namibia’s…

17 Feb

FATF: reforming for compliance, guarding against overreach

Editorial, Featured

The government says we have made measurable progress in addressing the deficiencies identified by the Financial Action Task Force (FATF) as we work toward exiting the grey list. That progress is welcome. But as reforms gather pace, we must ensure that compliance strengthens our economy rather than quietly constraining it. Grey listing does not mean our country is corrupt. It signals weaknesses in systems meant to combat money laundering and terrorism financing. For us, a small, open economy dependent on diamonds, uranium, fisheries, tourism and regional trade, reputation matters. International banks and investors pay attention to these signals, sometimes more…

17 Feb

‘Animal reflector tender was not awarded in secret’ – NRSC …Tagging livestock estimated to cost Govt N$180m annually

Main, National News

Renthia Kaimbi The N$5 million tender for reflective livestock gear was first advertised on the e-procurement platform in November 2025, but the availability of companies that could supply immediately led to an emergency procurement process, according to the National Road Safety Council (NRSC). This comes as questions have been raised about the transparency of the tender, which was piloted in the Khomas, Omusati and Oshana regions late last year. Concerns centred on the decision to award the tender on an emergency basis just weeks before the festive season. Independent Patriots for Change (IPC) member of parliament Nelson Kalangula last week…

17 Feb

Repo rate expected to remain unchanged

Observer Money

Chamwe Kaira Standard Bank Namibia has said that given the Bank of Namibia’s emphasis on closing the differential with South Africa and the current 25 basis points (bps) gap, its expectation is that the Bank of Namibia will keep rates unchanged until the South African Reserve Bank (SARB) fully closes the differential through further cuts. “Only then would BoN begin its own easing cycle. In this scenario BON will only deliver two 25bps cuts in tandem with South Africa,” Standard Bank economist Helena Mboti has said. The Bank of Namibia is expected to make its first monetary policy decision for…

17 Feb

Cirrus buys stake in Ultimate Safaris

Observer Money

Staff Writer Cirrus Unlisted Investments and Ultimate Safaris have completed an equity funding transaction that will see Cirrus acquire a significant minority stake in Ultimate on behalf of individual and institutional Namibian investors. Ultimate is a Namibian luxury lodge and tour operating company. Cirrus said the business has strong potential for further growth and represents a high-impact Namibian company. Ultimate Safaris started small and has built a reputation for its sustainability efforts. The company focuses on luxury ecotourism and operates across Namibia’s natural landscapes and remote areas. It works to limit environmental impact while supporting conservation and local communities. “Namibia…