Observer Money

Chamwe Kaira Oryx Properties expects the construction sector to expand, supported by mining-related and public infrastructure projects.  “Against this backdrop, the property sector is poised for gradual recovery, buoyed by improved affordability,” the company said in its results for the year ended. Oryx projected that the Namibian economy will grow by 3.5% in 2025, moderating from 3.7% in 2024, before recovering to 3.9% in 2026.  “This outlook reflects headwinds in primary industries, particularly agriculture and mining, while tertiary sectors such as wholesale, retail, and transport are expected to remain resilient drivers of growth,” the company said. Simonis Storm Securities projected…

Chamwe Kaira The Ministry of Finance is conducting regional consultations on the Public Procurement Act until 4 October.  The ministry is inviting the public to review and provide feedback on proposed amendments contained in the Public Procurement Amendment Bill, 2025. The bill seeks to amend the Public Procurement Act of 2015, which regulates the procurement of goods, works, and services; the letting or hiring of assets; the granting of rights; and the disposal of assets by public entities.  It also establishes the Public Procurement Regulatory Authority, the Procurement Policy Unit, and the Central Procurement Board of Namibia, defining their powers…

Staff Writer Barloworld Limited’s group revenue fell by 10%, dropping from N$37.4 billion to N$33.6 billion for the eleven months ended 31 August 2025 compared to the same period in 2024. Barloworld Equipment, a subsidiary of Barloworld, operates in Namibia, Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, South Africa, Zambia, Zimbabwe, and the Katanga province of the Democratic Republic of Congo.  In Namibia, the company distributes and supports Caterpillar and other heavy machinery for mining, construction, and related industries. Its operations in Windhoek, Walvis Bay, and Swakopmund offer marine power solutions, industrial and electric power ratings, oil and gas sustainability, and…

Chamwe Kaira  Rosh Pinah Zinc and Appian Capital Advisory Limited have secured a US$150 million (about N$2.78 billion) debt facility underwritten by Standard Bank to finance the mine’s RP2.0 expansion project. The company stated that the financing will cover the remaining construction costs of the project, which is currently funded up to the ramp-up phase.  Construction is more than 80% complete and remains on budget. Appian, the majority shareholder of Rosh Pinah Zinc, ran a competitive tender process with several parties before selecting Standard Bank as the partner. “The financing will fund the remaining construction costs of Rosh Pinah’s said…

Chamwe Kaira  NedNamibia Holdings Limited recorded a profit after taxation of N$193 million for the six months ended in 2025, up slightly from N$191 million in the previous six months. Profit before taxation rose 8% to N$228 million, compared to N$212 million in the prior period. The group said loans and advances remained the main growth driver, increasing 16% year-on-year.  “This strong momentum reflects the strategic efforts made over the past six to 18 months and provides a solid foundation for future expansion,” the group said. Growth in advances was supported by a 7% rise in net interest income and…

Chamwe Kaira  Bannerman Energy, developer of the Etango uranium project in the Erongo Region, says it made strong progress in 2025, marked by the execution of its strategic plan, safe operations, and a solid financial position. Bannerman Energy executive chairman Brandon Munro said these factors position the company to benefit from rising global demand for nuclear energy.  He said the Etango Project is moving closer to a final investment decision after completing key early works, including construction water supply, site access roads, and bulk earthworks. “These foundational activities were delivered safely on schedule and within budget. This year, we also…

Chamwe Kaira  Safari Investments Limited has released its audited consolidated annual financial statements for the year ended 30 June 2025, following the sale of its Platz Am Meer property in Namibia.  The group also declared a dividend and distributed its integrated annual report with a notice of its upcoming annual general meeting. The company said the fair value of investment properties rose by 3.74% to N$4.19 billion, compared to N$4.04 billion in 2024.  “It must, however, be noted that the current year number excludes the Platz Am Meer property after the sale of Safari Investments Namibia Pty Ltd on 30…

Chamwe Kaira  The Communications Regulatory Authority of Namibia (Cran) has welcomed a High Court ruling that declared an exclusive fibre lease agreement between NamPower, MTC, and Telecom Namibia invalid. On 31 July 2025, the High Court ruled that clause 3.2 of the agreement, the automatic renewal clause, was invalid.  The court confirmed that the agreement legally ended on 31 May 2022, when its 10-year term expired. In 2012, NamPower, MTC, and Telecom Namibia signed a tripartite agreement for the lease of NamPower’s dark fibre telecommunications services.  The agreement granted MTC and Telecom exclusive access to the fibre and included an…

Chamwe Kaira  The tourism industry has rebounded to pre-pandemic levels, with the national occupancy rate rising to 67.55% in August, up from 59.61% in July.  This was a 4.5 percentage point increase from 63.02% in August 2024 and marked the highest monthly rate since the pre-Covid peak of 69.9%. “This robust performance underscores the resilience of the tourism sector and signals a full recovery of seasonal demand. With September historically being the busiest month of the year, it is anticipated that the upcoming figures will surpass pre-pandemic levels,” said Macro Pulse, an analyst at Simonis Storm Securities. On a year-to-date…