Observer Money

Chamwe Kaira Old Mutual Limited reported adjusted headline earnings of N$4.2 billion for the six months ended 30 June, reflecting growth of 29%.  The company said the increase was supported by strong underwriting performance in Old Mutual Insure and positive equity market performance in South Africa and Malawi. Return on net asset value rose to 15.5%. Equity value decreased to N$18.40 per share due to business impacts and methodology changes. ThThe group’s new business margin value dropped to 1.3% for the same reasons. The board declared an interim dividend of 37 cents per share, up 9% from the previous period.…

Staff Writer Paratus Group has completed its expansion into East Africa.  The move is part of the company’s plan to connect businesses and communities across sub-Equatorial Africa with reliable digital infrastructure. Paratus Kenya has been operational since November 2024 as a licensed internet service provider and authorised Starlink reseller.  Rwanda and Uganda have also launched as ISPs, with Rwanda offering Starlink services. In 2025, Tanzania joined the network, delivering ISP services to enterprise and wholesale customers nationwide. The company now supports sectors including retail, transport and logistics, education, health, and tourism across all four countries. The expansion is underpinned by…

Staff Writer The Osire Refugee Camp, home to about 5000 refugees, has long struggled with access to banking services. More than 3000 adults in the camp have never been banked by any financial institution in Namibia, even though some hold IDs and passports. Until now, the only way for residents to access money was to travel more than 200 kilometres to Otjiwarongo.  The journey was costly, time-consuming, and dangerous. Many refugees reported being robbed and losing their money during these trips. Despite these challenges, Osire is a hub of small businesses that serve both the camp and nearby farms. These…

Chamwe Kaira  Oryx Properties Limited has warned shareholders of a sharp fall in profit for the year ended 30 June 2025.  In a trading statement issued this week, the group said earnings per share and headline earnings are expected to drop by more than 30% compared to the previous year.  The decline is linked to the derecognition of deferred tax assets after legislative changes limited the carry-forward period for assessed losses to five years. Despite this pressure, Oryx said distributions to unitholders would increase by up to 10%, showing resilience in its core operations. The company plans to release its…

Chamwe Kaira  The ministry of industries, mines and energy has renewed Koryx Copper’s exclusive prospecting licence (EPL) 3140 for the Haib Copper Project in southern Namibia.  The licence, valid until July 2027, was granted after the company submitted a technical update and confirmed that it had met its expenditure commitments during the previous licence period. Under the renewal terms, Koryx must provide progress updates after the first year and keep annual environmental clearance certificates from the ministry of environment, forestry and tourism. Koryx has also applied for a mining licence, as it moves to shift the Haib project from exploration…

Chamwe Kaira  New services under NamPower’s GridOnline platform will enable smaller operators to be competitive and expand internet access to underserved areas.  This forms part of a new, unified national pricing framework launched in Windhoek, replacing the previous cost-recovery model that was based on fibre distance usage. NamPower’s chief operating officer, Fritz Jacobs, speaking on behalf of managing director Kahenge Haulofu, said the change goes beyond pricing adjustments.  “We are adding services that will enable smaller operators to be competitive and to grow, to offer internet connectivity in underserved areas. With these innovations, GridOnline is positioning itself not simply as…

The Communications Regulatory Authority of Namibia (Cran) recently hosted its first Digital Transformation and Entrepreneurship Breakfast Session, an event that highlighted technology’s role in advancing entrepreneurship across the country. Cran's chief executive officer, Emilia Nghikembua, said starting a business is never easy and requires resilience, strategic foresight, and commitment.  “The journey of entrepreneurship is often filled with challenges, uncertainties, and hurdles, but it also offers immense opportunities for growth, impact, and economic development,” she said. She noted that success begins with clarity of purpose, sound financial management, and a clear understanding of what one seeks to offer. She stressed the…

Mobile Telecommunications Limited (MTC) has expanded its fixed internet service, Spectra, to Maltahöhe, Rietoog, Stampriet, Aranos, Oshifo, Khorixas, Tsandi, and Otavi. MTC’s chief brand, marketing, communications and sustainability officer, Tim Ekandjo, said the rollout is part of the company’s commercial strategy to connect rural and semi-urban communities to fibre before the end of its financial year.  He explained that the expansion forms part of MTC’s remote outreach strategy aimed at bridging the digital divide by investing in high-speed internet for settlements outside urban centres. “Our Spectra offering is the last entrant in the highly competitive fixed internet market, and our…

Chamwe Kaira  Bannerman Energy Ltd, developer of the Etango uranium project, has signed two binding contracts to sell one million pounds of uranium oxide over five years from 2029 to 2033.  The offtake agreements were concluded with two tier-1 North American power generation companies. The company said the agreements provide delivery flexibility, allowing it to preserve capacity ahead of a final investment decision at Etango.  It added that the contracts include market-related pricing components designed to capture higher forecast uranium prices. Each agreement also allows the utilities to flex volumes up or down by 10% annually. Bannerman stated that the…

Chamwe Kaira  De Beers’ Namibian operations recorded major milestones in 2024, including strong mining achievements and progress on a landmark renewable energy project, according to the company’s 2024 Sustainable Report. Namdeb engineering manager, Pankratius Kondjamba, said renewable energy is becoming a driver of socio-economic growth in Namibia.  “Our efforts to build a wind farm to serve Namdeb’s land-based mining operation hold promise for Oranjemund and neighbouring communities as well as our carbon reduction journey,” he said.  Kondjamba added that the project would create opportunities for local businesses and promote skills development in the renewable energy sector. Namibia has been central…