Observer Money

Chamwe Kaira  Consumers received N$11.8 million from 87 complaints lodged against non-banking financial institutions with the Namibia Financial Institutions Supervisory Authority (Namfisa) in the 2025 financial year.  The payouts dropped from N$14.7 million in 2024. NAMFISA said its intervention contributed to the decline. The largest recoveries came from pension funds with N$7.2 million, followed by long-term insurance at N$3.1 million, short-term insurance at N$1.3 million, medical aid funds at N$149 534, microlending at N$55 554, and capital markets at N$24 659. “Despite the decrease in almost all the industries when compared with 2023, the complaints against the long-term insurance industry,…

Chamwe Kaira  FNB Namibia is positioning itself as an early financial partner to the country’s emerging oil and gas sector.  The industry is expected to reshape Namibia’s growth outlook and create significant financing opportunities over the next decade. For FNB, this is a strategic move to expand revenues and diversify beyond its traditional retail and corporate lending model.  “The ability to provide project financing, working capital, and bespoke solutions across the value chain could materially expand revenues,” said Max Rix, an analyst at Simonis Storm Securities. Rix said supply chain financing and cash-management solutions are likely to become critical for…

The global financial crisis of 2008 froze the financial system. Banks pulled back credit, families tightened their belts and companies laid off workers. It was a frightening time for everyone and an extremely difficult moment for the financial services industry. Today, the landscape of finance is quite different. Different types of investors and firms are providing businesses, consumers and governments with credit and liquidity. More than a billion more people have access to credit thanks largely to newer tech-based lenders. Families also have more options to finance purchases and to diversify retirement portfolios. Equity, fixed income, and derivatives markets have…

Chamwe Kaira The Chamber of Mines of Namibia says the outlook for the country’s mining sector remains broadly positive, supported by strong global demand for gold and uranium.  In a quarterly report, the Chamber noted that elevated gold prices are boosting profitability and fiscal contributions, while uranium continues to benefit from its critical role in the global energy transition. “This positive price environment strengthens the investment case for new and advancing projects, such as Bannerman Energy’s Etango-8 uranium development and Reptile Mineral Resources’ Tumas uranium project, while providing favourable conditions for the construction of Osino’s Twin Hills gold project,” the…

Chamwe Kaira The microlending loan book grew by 12.8% year-on-year, reaching N$8.1 billion by the end of 2024, the Namibia Financial Institutions Supervisory Authority (Namfisa) said in its 2025 annual report.  The growth was reflected in higher disbursement figures, supported by both term lenders and payday lenders. Namfisa said term lenders accounted for the largest share of the loan book’s value, totalling N$7.6 billion, or about 94% of the total.  The total value of disbursed loans rose by 44.9% from the previous year, reaching N$5.2 billion. “The growth was driven by increased transactions between lenders and borrowers in the term…

Staff Writer The Bank of Namibia (BoN) has officially introduced the upgraded Namibian dollar banknotes and the new coinage series into circulation at a ceremony in Mariental, Hardap Region.  The event followed the launch of the series by President Netumbo Nandi-Ndaitwah on 23 July, during the bank’s 35th anniversary celebrations under the theme ‘Our Currency, Our Heritage, Our Pride – Meet the Next Generation of the Namibia Dollar.'  BoN said the choice of Mariental was deliberate, showing its commitment to inclusivity and to celebrating national milestones beyond the capital. It said the Namibian dollar is more than a medium of…

Chamwe Kaira FNB Namibia expects improvements in agriculture to support both the primary sector and downstream meat processing, while tourism is projected to recover strongly.  Hotels and restaurants are likely to surpass 2019 levels during the third-quarter peak season, the bank said.  Wholesale and retail trade are also expected to rebound if investment spending remains resilient. “From 2026 onwards, low base effects will further support the rebound. Therefore, while the 2Q25 print was weaker than expected, we maintain our view that GDP growth could still reach 3% in 2025, underpinned by the cyclical turnaround in agriculture and manufacturing, as well…

Staff Writer  Erongo Red employees will now be able to invest through salary deductions after the company recently formalised a payroll deduction agreement with NAMITVEST at its head office in Walvis Bay.  The initiative allows Erongo Red employees, especially members and former members of the Mineworkers Union of Namibia (MUN) and their dependents, to invest in Just Transition Investment (JTT) Namibia Limited through automatic deductions from their salaries.  It creates a structured pathway for workers to build personal wealth, accumulate assets, and participate in the company’s growth. NAMITVEST principal officer Jason Kasuto said the payroll initiative “ensures financial security through…

Nedbank Namibia hosted its second annual staff market day at the Nedbank Campus in Windhoek, reaffirming its commitment to nurturing employee entrepreneurship, creativity, and multidimensional talent. The initiative, part of Nedbank’s human capital strategy, gives employees a platform to showcase their personal business ventures, often referred to as side hustles, outside of their formal work duties. This year, 17 employees took part, offering a mix of products and services that included home-cooked meals, handmade crafts, vintage clothing, natural haircare products, custom spices, and innovative items such as 3D-printed accessories and décor. Photo: Nedbank

Chamwe Kaira  The number of active long-term insurance policies grew by 13.1% to 2,166,896 by the end of 2024. The growth was mainly driven by a higher volume of new policies underwritten during the year. The sector recorded growth in its assets, supported by recoveries in both global and local financial markets. The value of assets rose by 12.9% to N$83.8 billion as of 31 December 2024. This increase was largely driven by an expansion of the investment portfolio. Excess assets increased by 15.4%, supported by stronger growth in total assets compared with total liabilities. The value of total liabilities…