Observer Money

Ujandja Zatjirua With digitalisation reshaping the insurance and financial services industry in Africa, the threat of fraud has evolved in terms of its magnitude and complexity. While institutions race to digitise procedures and embrace Artificial Intelligence (AI), the World Economic Forum’s 2024 Global Cybersecurity Outlook shared that fraudsters employ online platforms to target the most vulnerable: micro-enterprises, families, and individuals. Fraud isn't about stolen cash. It's about stolen trust, peace of mind, and dignity. In Namibia, where families work to create financial security, the emotional impact of fraud can be crushing. Victims feel shock, denial, shame, and fear; too many…

Chamwe Kaira  Diamond production in Namibia dropped by 5% in the second quarter of 2025, falling to 535,000 carats from 561,000 carats in the first quarter.  According to De Beers’ second quarter production report, the decline followed planned actions to reduce output at Debmarine Namibia. In total, Namibia produced 1,166,000 carats in the first half of 2025, down from 1,194,000 carats during the same period in 2024. De Beers said that after a fleet optimisation study, the Coral Sea vessel was retired, and the Grand Banks vessel was taken out of service, awaiting a decision on possible decommissioning or sale. …

Chamwe Kaira  First Capital Namibia has dismissed claims that it delayed implementing its home loan portfolio.  First Capital's chief investment officer, Martin Mwinga, said all funds allocated by the Government Institutions Pension Fund (GIPF) were fully drawn down and disbursed on time. "We are aware of the allegations and accusations against First Capital, and at the right and appropriate time, and if necessary, we will issue a press statement to clarify issues. However, we must clarify that First Capital has never delayed the implementation of the home loan portfolio. All funds allocated to us by GIPF were fully drawn down…

Chamwe Kaira  Alpha Namibia Industries Renewable Power Limited (Anirep), listed on the Namibian Stock Exchange, has awarded shares to its directors and related parties under its Performance Share Incentive Scheme. The company said the shares will vest on 30 October 2024 and be exercised on 31 July 2025 at a transaction price of N$8.99 per share. Iyaloo Jeremiah Nangolo, a director of Anirep, received 601,672 shares valued at N$5.4 million.  James Nyandoro, director of Anirep Solar, a subsidiary of Anirep, was awarded 122,944 shares worth N$1.1 million with a transaction date of 30 October 2024. Antti Johannes Myllärinen, a director,…

The Bank of Namibia (BoN) recently hosted a book review session spotlighting the second edition of Digital Banking: A Guide on Digital Banking and Payments for Industry Professionals, authored by renowned payments expert Dr Albert Mutonga Matongela. While global publications have traditionally informed the local financial industry, the lack of Namibia-specific literature has created a notable knowledge gap.  Matongela's work bridges this divide by presenting an accessible guide grounded in local realities. It features relatable, homegrown examples that speak directly to industry professionals and the broader public alike, making complex digital banking concepts both practical and understandable. The second edition…

Chamwe Kaira  Elevate Uranium says its uranium processing pilot plant is expected to arrive in Namibia by early October. The company announced this in its June quarter activities report. The plant, designed to demonstrate the company’s proprietary U-pgrade beneficiation process, will undergo final factory testing in Perth in late July. In early August, it will be packed and shipped to Namibia, where it will be assembled on-site. The U-pgrade process aims to remove gangue waste and concentrate uranium mineral into a low-mass, high-grade product before leaching. The pilot plant is intended to operate continuously to confirm the process at scale…

Chamwe Kaira  The gaming industry generated about N$32 million in revenue during the 2024/25 period, up from N$9.3 million in 2022/23. It is projected to grow by 8.1% by 2030. In 2020/21, the industry recorded around 4,140 jobs. The State Lottery alone is expected to generate over N$100 million in revenue by 2030 and contribute meaningfully to the country's GDP. Growth in mobile gaming, augmented and virtual reality technologies, and the broader ramifications market are seen as key drivers. This is according to the Sixth National Development Plan (NDP6). The plan notes that the gaming industry is evolving and presents…

Chamwe Kaira  Deep Yellow Limited is preparing to begin mining at its Tumas Project in the Erongo Region by late 2026.  The company is finalising negotiations with prequalified mining contractors before awarding contracts and starting operations. The update follows progress on early infrastructure works and detailed engineering at Tumas, located within ML237.  In April, Deep Yellow delayed its Final Investment Decision (FID), citing uranium prices that did not offer sufficient value to shareholders or justify new greenfield development. The company now says the rise in uranium prices since then has confirmed the logic behind that decision. Despite the FID delay,…

The imposition of a 30% tariff by the United States on all South African exports including vehicles represents a major external shock to South Africa’s automotive sector, and by extension, to Namibia’s vehicle market, which is intricately linked to its southern neighbour through trade, supply chains, and dealership networks. Namibia imports the overwhelming majority of its new vehicles from South Africa, leveraging shared logistics routes, harmonised standards under the SACU arrangement, and the ease of rand-based trade due to the currency peg. As such, any disruption to South Africa’s vehicle production and export profile will inevitably ripple through to Namibia,…