Observer Money

Chamwe Kaira  The Namibia Financial Institutions Supervisory Authority's (Namfisa) income for the financial year ending 31 March 2025 rose by 11.7% to N$312.3 million from N$279.5 million in 2024.  Expenditure increased by 5.4% to N$268.3 million, while other comprehensive income amounted to N$2.5 million.  This resulted in a total comprehensive surplus of N$46.5 million compared to N$37.7 million the previous year.  The surplus exceeded the budgeted surplus of N$81,202, supported by expenditure control and sustained revenue growth, the authority said. Levy income, which makes up most of Namfisa's non-exchange revenue, grew by N$36.2 million (14.2%) to N$291.7 million from N$255.5…

Staff Writer  Momentum Metropolitan Namibia has opened its revamped branch in Walvis Bay.  The occasion also marked the company’s 10th anniversary in Walvis Bay. The opening was attended by Walvis Bay mayor Trevino Forbes and Walvis Bay Chamber of Business and Entrepreneurship president Johnny Dauseb. “Today is more than just a branch opening; it is a celebration of 10 years of partnership with the people of Walvis Bay,” said Denille Roostee, marketing executive at Momentum Metropolitan Namibia.  “We are proud to reaffirm our purpose: to protect and grow our clients’ financial dreams. With our brands, Metropolitan (Together We Can) and…

Chamwe Kaira  The demand-supply gap for uranium continues to widen, Deep Yellow has said in its 2025 annual report.  Deep Yellow chairman Chris Salisbury noted that 2025 saw a further increase in global demand for uranium and rapid growth in the nuclear ambitions of many countries.  “There were also a number of production shortfalls on the mining supply side, indicating the challenges in creating a robust uranium supply regime. Higher prices will be needed to incentivise exploration, mine development, and maintaining mined supply,” Salisbury said.  He added that Deep Yellow is well positioned to respond once uranium prices rise. Deep…

Chamwe Kaira  Namibia is emerging as one of the most important players in the global uranium market as demand for nuclear energy rises, a report by Simonis Storm Securities has found.  Expanded uranium production could add between N$5 billion and N$8 billion annually to government revenue by the early 2030s, supporting debt sustainability and funding infrastructure and development. Namibia currently supplies between 10% and 11% of uranium mined globally.  Husab, majority-owned by China General Nuclear, produces more than 5 000 tonnes a year, making it one of the largest single uranium mines in the world.  Rössing, operating since the 1970s…

Staff Writer  Africa’s premier trade and investment event, the Intra-African Trade Fair (IATF), will now operate as an independent, permanent African institution with its headquarters in Harare, Zimbabwe.  The new entity, the Intra-African Trade Fair Company (IATFCO), was unveiled during IATF2025 in Algiers to make the fair sustainable, scalable and aligned to the African Continental Free Trade Area (AfCFTA). The decision followed a rigorous selection process and approval by the IATF Advisory Council.  IATF is held every two years and is co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat. Zimbabwe was selected as the host country from…

Chamwe Kaira The recently launched OM Bank, established in South Africa by the Old Mutual Group, has no immediate plans to expand into Namibia. Nawhal Foster, an official at OM Bank, told Observer Money that the new bank’s focus is on South Africa.  “At this stage, OM Bank is focused exclusively on establishing and deepening its presence within South Africa. We are not planning to launch in markets outside of South Africa at this time,” Foster said. The company said it has met the remaining section 17 conditions and received regulatory approval for the appointment of Clarence Nethengwe as chief…

Observer Money spoke to Savanna Beef Processors' chief executive officer, Ian Collard, about the growth of the company since its inception and future plans.  Collard started the job as chief executive officer of the company, starting on 13 January.  He is a qualified chartered accountant and has served on several boards, including the Namibian Grain Processors’ Association, Namibian Agronomic Board (NAB), and the Namibia Chamber of Commerce and Industry (NCCI). Savanna Beef has recently started producing beef at its facility in Okahandja.  In August, Savanna Beef completed its first trial slaughter at its new processing facility. The company has stated…

Chamwe Kaira Economic activity slowed in the second quarter of the year, recording 1.6% growth in real value added compared to 3.3% in the same period of 2024. In nominal terms, the size of the economy was estimated at N$64.8 billion, up from N$58.8 billion in the corresponding quarter of 2024. Statistician General and Namibia Statistics Agency (NSA) chief executive officer, Alex Shimuafeni, said the performance was mainly influenced by the tertiary industries, which grew by 3.9% compared to 5% a year earlier.  Growth in the sector was recorded in wholesale and retail trade (5.2% compared to 9.1%), education (5.6%…

Chamwe Kaira Paladin Energy, whose only operating mine is the Langer Heinrich in Namibia, has opened its share purchase plan (SPP) to shareholders with registered addresses in Australia or New Zealand, excluding those in the United States.  The company is listed in Australia and has a dual listing on the Namibian Stock Exchange (NSX). Eligible shareholders may apply for up to A$30,000 worth of new fully paid ordinary shares without broking or other transaction costs. The SPP offer closes on 9 October. Paladin is seeking to raise up to A$20 million. The SPP follows the company’s launch of a A$300…

Staff Writer  NamPower has commissioned and energised its new indoor 132/66/33 kV Sekelduin substation east of Swakopmund.  The project cost N$394 million and is the first fully digital substation on the African continent. The substation is fed from the Kuiseb Substation, about 35 km southeast of Sekelduin, through two parallel 132 kV overhead power lines.  This setup improves network robustness and reduces the risk of a single failure affecting coastal nodes. NamPower said the new infrastructure adds to its transmission network, unlocks coastal load growth, strengthens reliability, and prepares the Erongo region grid for the future.  The digital design uses…