Observer Money

Erasmus Shalihaxwe Former chief executive of the Namibian Chamber of Commerce and Industry (NCCI), Tara Shaanika, said Founding President Sam Nujoma believed Namibia’s economy could thrive by manufacturing and producing its own products rather than relying on imports. Nujoma, who led Namibia from 1990 to 2005, passed away on Sunday at the age of 95. Speaking to Windhoek Observer on Sunday, Shaanika said Nujoma’s economic policies were centred on export-driven growth, as he believed the country had enough resources to produce and export goods rather than import them. “President Nujoam believed in an economy that is importless, which is dependent…

Niël Terblanché Namibia is taking decisive steps to strengthen digital governance and enhance electronic information management with the Electronic Information Systems Management Advisory Council (EISMAC). During a strategic planning retreat held in Windhoek on Thursday, the minister of information and communication technology, Emma Theofelus, reiterated the critical role the Council plays in shaping Namibia’s digital landscape. She urged members to set realistic strategies that will guide Namibia in strengthening digital governance. “You have a mammoth task ahead of you, and I have no doubt in your individual and collective expertise,” she said. The minister added that the work of EISMAC…

CHAMWE KAIRA B2Gold Corporation has announced the preliminary results of a positive preliminary economic assessment on the Antelope deposit located at the company’s Otjikoto open pit and underground gold mine. The Antelope deposit, which comprises the Springbok Zone, the Oryx Zone, and a possible third structure, Impala, subject to confirmatory drilling, is located approximately 4 kilometres southwest of the existing Otjikoto open pit.  B2Gold said the Antelope deposit will have an initial life of mine of approximately five years (life of mine) with an average grade processed of 5.75 grams per tonne gold over the life of mine. Total production…

CHAMWE KAIRA  The De Beers Group has confirmed that the sales agreement between De Beers and the Government of the Republic of Namibia is valid until May 2026.  The Government of the Republic of Namibia and De Beers Group own equal shares (50:50) in Namdeb Holdings (Proprietary) Limited Holdings, under which Namdeb mining, Debmarine Namibia falls.  The government and De Beers also have equal (50:50) shares in the Namibia Diamond Trading Company (NDTC). “At this stage we are not in a position to comment on the negotiations process or the associated timeline,” De Beers said in a response to questions…

Koryx Copper Inc, the Canadian copper development company focused on advancing the 100% owned Haib Copper Project in the south of the country and copper exploration licenses in Zambia is fast tracking the development of the Haib Copper Project. Observer Money asked Heye Daun, CEO and President of Koryx to provide an update on the company’s projects.  Observer Money (OM): How much is Koryx Copper spending on the Haib Copper exploration project in 2025? Heye Daun (HD): This 2025 technical strategy comprises an intensive drill and study program, including more than 55 000 meters of growth and quality improvement drilling,…

CHAMWE KAIRA  Over the long term, Mobile Telecommunications Company (MTC) anticipates that Maris will evolve into a key driver of revenue and profitability, capitalising on its potential to tap into underserved financial markets, according to an analysis on its 2024 financial year. MTC launched Maris last year and the product will allow people with no bank account to send and receive money. The product targets the bulk of the unbanked market. Entering a highly competitive mobile financial services landscape as a newcomer, Maris faces formidable challenges against established providers, Simonis Storm Securities said in a report. To stand out, MTC…

On a year-on-year basis in 2024, African airlines saw 8.5% year-on-year demand growth for air cargo increased their cargo capacity by 13.6% year-on-year achieving a 41.8% cargo load factor.  The figures were released by the International Air Transport Association in its full year analysis of the air cargo sector’s performance based on traffic and capacity data captured in each region worldwide. However, in December 2024 demand fell by -0.9% year-on-year, which was the lowest of all regions and capacity increased 1.8%. In 2024, Africa accounted for 2% of the total global air cargo market. The air cargo sector is a…

NDADHI NDOROMA The way people think about life cover is changing. For older generations, it was a practical safeguard, a traditional product that provided financial protection for spouses and children in the event of death. But younger generations are bringing fresh perspectives to financial planning, including how they view life insurance. Many of them grew up during economic downturns and have faced financial uncertainties. They're also shackled with student loans and increased living expenses, which, altogether, very much make their attitude towards money different from their parents. Security remains important but has shifted regarding how it's achieved and in what…

CHAMWE KAIRA  The stock of international reserves increased at the end of December by 3.6% to N$63 billion compared to N$60.8 billion recorded at the end of November. The central bank said the increase was primarily driven by higher commercial bank inflows, as well as revaluation gains. The import cover stood at 4.2 months of imports, whereas imports excluding oil and appraisal activities translated into 5.1 months of imports. “The stock of foreign reserves was 11.2 times the value of N$5.6 billion of currency in circulation and remained adequate to sustain the currency peg between the Namibia dollar and South…

CHAMWE KAIRA  Trade activities in the country have been on an upward trajectory since 2020. For the year 2024, exports increased by 15.3% compared to 9% in 2023, while imports increased by 18.5% when compared to 2% in 2023, according to Namibia Statistics Agency trade figures. Uranium was the top exported commodity in 2024, accounting for 16.8%, whereas precious stones (diamonds) took the second position, contributing 16.2% of the total export value. In 2024, petroleum oils topped the list of the imported commodities, accounting for 15.5% of the total imports for the country. Copper ores and concentrates came in second…