Observer Money

Niël Terblanché The Meat Corporation of Namibia (Meatco) is focused on driving progress and adapting to the evolving challenges of the market to ensure the continued success of both Meatco and the livestock industry at large. Meatco hosted a special members’ meeting on 11 February, with approximately 100 members in attendance. The meeting, which provided an overview of the company’s financial status for 2023/2024, served as a platform to share key developments and feedback on the corporation’s turnaround strategy. During the meeting, the management team acknowledged the financial challenges faced by the company. However, the presentation of the annual report…

Hertta-Maria Amutenja  The City of Windhoek (CoW) has issued 155 compliance notices to businesses operating without a valid certificate of fitness or registration over the past five years.  Five businesses closed during this time, one as a result of a court order. CoW communication officer Cillie Kapolo said enforcement measures include verbal and written compliance advice, issuance of notices, fines in collaboration with the City Police, and remedial actions such as closure orders.  “Enforcement is a last resort and is only applied after businesses have been given reasonable time to comply. Many businesses fail to obtain or renew their certificates…

Niël Terblanché The Cabinet has authorised the Ministry of Home Affairs, Immigration, Safety and Security to establish a mutual visa exemption agreement with the People's Republic of China in order to improve bilateral relations. This agreement will allow holders of diplomatic and official or service passports from both nations to travel without the need for prior visa arrangements. The proposal, submitted by Albert Kawana, the minister of home affairs, immigration, safety and security, received Cabinet approval during its latest session. The initiative is a demonstration of the efforts of both countries to facilitate smoother diplomatic engagements and official exchanges. The…

Ester Mbathera  The Governor of the Bank of Namibia (BoN), Johannes !Gawaxab has warned that policy uncertainties and economic shifts between South Africa and the United States could impact Namibia’s economy. Speaking at the central bank’s first Monetary Policy Announcement for 2025 on Wednesday, he urged policymakers to closely monitor exchange rate fluctuations and trade developments. “What we need to do is we need to watch trade wars and we need to watch exchange rate movements and see what the impact thereof is on the Namibian economy. Particularly, the relationship between South Africa and the US will have a profound…

Niël Terblanché Young people aspiring to join the country’s growing oil and gas sector are set to benefit from a new partnership between the Petroleum Training and Education Fund (Petrofund) and SBM Offshore. The two organisations signed a Memorandum of Understanding (MoU) on Tuesday to launch a graduate trainee programme aimed at equipping local graduates with the skills and experience needed to thrive in the industry. Nillian Mulemi, the Petrofund’s chief executive officer, explained that the initiative seeks to create a pipeline that will increasingly feed qualified professionals who can meet the demands of the oil and gas industry, which…

CHAMWE KAIRA  The Ministry of Mines and Energy has confirmed that the sales agreement between the Namibian government and De Beers will end on 16 May 2026.  The ministry spokesperson, Ten Hasheela, told Observer Money that an internal review process has started. “The negotiating team is, however, in the process to be appointed,” spokesperson Ten Hasheela told Observer Money.  Asked whether Namibia will seek a larger stake in the next agreement beyond the current 15%, Hasheela said the ministry cannot speculate on the outcome.  According to her, the team will review the current agreement and propose key issues for negotiation.…

CHAMWE KAIRA   Botswana is currently considering proposals for a self-funding mega-project for the construction and development of a rail corridor linking Namibia and Botswana’s western copper-belt region through Ghantsi, minister of finance Ndaba Nkosinathi Gaolathe has disclosed.  He said when he presented the 2025 budget that Botswana’s existing rail infrastructure is neither adequate nor up to standard; even so, it is not fully utilised or optimised.  “The administration is considering options for a rail operational model best suited for our circumstances. All options being considered will require changes to the current legislation on the role of Botswana Railways,” he said. …

CHAMWE KAIRA Production in Namibia rose by 3% to 600,000 carats, driven by higher-grade mining and improved recoveries at Namdeb.  In Botswana, production decreased by 31% to 4.2 million carats as a result of planned actions to lower production at Jwaneng. According to De Beers' production report for the fourth quarter ended 31 December 2024, deliberate lower production at Debmarine Namibia partially offset this. In South Africa, production increased by 27% to 600 000 carats, due to Venetia underground and a slight improvement in grades of processed ore. Production in Canada decreased by 43% to 500 000 carats as a…

CHAMWE KAIRA  Paladin Energy, which owns the Langer Heinrich mine in the Erongo Region, told investors it has secured 11 offtake agreements with tier-one industry counterparties. During an investor conference call, the company said 88% of the mine’s total production will be exposed to market-related prices.  It also confirmed that the mine has already contracted for 50% of its production. “Strong demand for nuclear energy is driven by global decarbonisation and energy security,” it said.  China’s CNNC, a major shareholder in Paladin, is one of the world’s largest uranium consumers.  “Chinese utilities are expected to become the largest consumers of…

CHAMWE KAIRA  First Capital Namibia says the demand for housing in Bukalo, Zambezi Region, is rising as more people seek residential developments.  A report by the firm said that 1 700 individuals are currently on the council’s waiting list for affordable housing, while 600 others are waiting for land to build their own homes. “This substantial demand for both houses and land emphasises the urgent need for expanded housing and land allocation efforts to meet the community's needs and accommodate its growth,” the report said. Bukalo’s expansion has resulted in the creation of six extensions. While most of these extensions…