Observer Money

Chamwe Kaira Simonis Storm Securities analyst Kara van den Heever says the suspension of the Deduction Code, effective 30 November, raises concerns for Letshego Namibia because a large portion of its Deduction at Source (DAS) model depends on this system. On 28 August, government employees were informed that the Deduction Code would be suspended. Van den Heever said the impact could be significant.  “To put the scale into context, as of the 2024 financial year, 110 607 loans were originated via DAS. While not all of these loans relate to government employees, the government remains Namibia’s largest employer, which allows…

The Bank of Namibia (BoN) has announced the appointment of deputy governor Leonie Dunn to the global board of directors of the Alliance for Financial Inclusion (AFI) for the term September 2025 to September 2027. The appointment was confirmed at the 2025 AFI annual general meeting held on 3 September during the AFI Global Policy Forum in Swakopmund. Dunn will represent the BoN on the AFI Board as stipulated in Article 18 of the AFI Articles of Association. The AFI board of directors is the highest governance body of the Alliance, setting the network’s strategic direction, ensuring accountability, and guiding…

KPMG has released its latest global report, Banking Transformation: The New Agenda, which reveals how leading banks are reshaping their operations to deliver sustainable growth and cost efficiency.  Drawing on a global survey of 228 banking leaders, the report outlines practical strategies for African banks to navigate growing economic pressures, regulatory change, and intensifying competition from fintech and digital-first challengers. The report shows that while transformation is a universal imperative, only 18% of banks globally have been highly successful in achieving their transformation objectives. Furthermore, 53% of banks aim to cut costs by at least 10% by 2030, yet only…

Chamwe Kaira US President Donald Trump has directed changes to annex II of the tariff schedule, expanding and modifying the scope of goods covered under the reciprocal tariff system, the White House announced. On 5 September, Trump signed an executive order that broadens US trade tariffs under his ‘reciprocal tariff’ regime. The move is part of his effort to rebalance America’s trade relationships. According to the White House, reciprocity remains the core principle. Trump has argued that US partners maintain lower tariffs on American goods while enjoying easier access to US markets. Under the new system, the US will impose…

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…