Observer Money

Erasmus Shalihaxwe Namib Desert Diamonds (NAMDIA) generated a total of N$ 1.4 billion from the sale of 191 426 carats of diamonds in 2024. NAMDIA’s Public Relations and Communications Officer, Beverley Coussement told the Windhoek Observer newspaper during an interview over the weekend that the company despite challenges faced by the global diamond industry in 2024—marked by subdued demand due to economic headwinds and shifting consumer spending patterns—remained resilient and is navigating through tough times to meet its mandate. “There is growing optimism driven by increased demand for responsibly sourced diamonds and a renewed focus on sustainability across the value…

CHAMWE KAIRA The CEO of Andrada Mining, Anthony Viljoen, has said continued investment in exploration, metallurgy and asset development has earned the company the social license to operate and established strategic world-class partnerships. “During the interim period, we secured debt funding arrangements with established lenders, including Standard Bank of Namibia (tin hedge) and Bank Windhoek, for the implementation of our exciting growth projects,” he said this when he announced the unaudited interim results for the six months ended 31 August. Andrada’s assets are located in the Erongo region, a metallogenic jewel of northwest Namibia. Deposits of base, technology, precious metals,…

CHAMWE KAIRA Goods worth N$3.7 billion, representing 43,2% of total exports, left the country by sea in October, according to the International Merchandise Trade Statistics, released by the Namibia Statistics Agency. The basket of exports via sea comprised mainly of uranium, fish and ‘nickel ores and concentrates.’ Airborne exports made up 31,6% of total exports, primarily consisting of non-monetary gold and precious stones (diamonds). Road transportation accounted for 25,2%, with petroleum oils, fish and fertilizers being the highest-valued commodities transported via the respective mode. In terms of volume, a total of 358 985 tons of goods left the country, representing…

CHAMWE KAIRA Nictus has announced the acquisition of the Build It Walvis Bay branch. The company said this strategic addition to the group’s diversified portfolio reinforces Nictus’ commitment to growth, community development, and service excellence. The Build It Walvis Bay branch has been a cornerstone of the local community, recognised for its high-quality products and exceptional customer service. “Through this acquisition, Nictus aims to further enhance the customer experience, strengthen its presence in the construction and hardware market, and contribute to the economic and social development of the Walvis Bay region,” the company said. Under Nictus’ leadership, the branch will…

Namibia aims to follow Botswana in establishing a certification point for rough diamonds entering Group of Seven (G7) countries next year. Discussions are underway for additional nodes in Namibia and Angola. The development follows widespread opposition to a plan for Antwerp to be a ‘single node’ through which all rough destined for G7 markets would pass to ensure it is not subject to Russian sanctions. The three producer nations protested against the original plan earlier this year, claiming it would penalize them. This prompted a G7 technical team to visit Namibia in September, said Mekondjo Kaapanda-Girnus, the country’s ambassador to…

Pick n Pay has announced the successful conclusion of its two-step recapitalisation plan, first announced in February of this year, a critical milestone in its strategy to restore the performance of Pick n Pay supermarkets and position the group for long-term sustainable growth. The company said the recapitalisation plan, completed in just nine months, received strong shareholder support. The Pick n Pay Rights Offer, the first step of the plan, was more than double oversubscribed, and raised N$4 billion in August. The Boxer IPO, the second step, in which Boxer shares worth N$8.5 billion were placed at N$54, attracted significant…

CHAMWE KAIRA Governor of the Bank of Namibia Johannes ǃGawaxab has said cybercrimes affecting commercial banks are a matter of when and not if they will happen. Responding to a question on how far the central bank has gone into the investigations on the recent hacking of Standard Bank Namibia, in which clients lost money, !Gawaxab said in terms of cybercrimes: "It’s not whether we will be attacked. It’s a question of when and how do we respond when we are attacked, and how long does it take to get out of the attack,” he said. He pointed out that…

CHAMWE KAIRA The stock of international reserves held by the Bank of Namibia increased in October by 6.6%, reaching N$60.9 billion. SACU inflows primarily drove the monthly increase in reserves. Relative to the international benchmark of three months, the current level of foreign reserves represents 4.1 months of import cover. Notably, the import cover, excluding imports of oil exploration and appraisal activities, stood at 4.9 months in October, compared to 4.6 months in September. The overall liquidity level of the banking industry averaged N$6.7 billion in October, higher than the N$5.9 billion recorded in September. The rise in market cash…

CHAMWE KAIRA Paladin Energy is expecting to achieve a production run rate of 6 million pounds per annum at the Langer Heinrich Mine in the Erongo region by the end of the 2025 calendar year. The mine produced 826 346 pounds of uranium oxide in the 2025 financial year as of 31 October. The company said production to 30 October 2024 has been lower than planned, primarily due to ore grade variability in the stockpiled ore processed and disruptions to the supply of water from NamWater. “A planned two-week shutdown is being undertaken to allow for various improvements and operational…

CHAMWE KAIRA ANIREP managing director, Iyaloo Nangolo, has said the company serves as a vital conduit for channelling capital market investments into infrastructure-based renewable energy projects, offering investors reliable, long-term opportunities with consistent returns on equity over extended periods. He said in interim results for the year ended August 31 that, despite market headwinds, the group remains resilient and has built a strong foundation underpinned by sustainable and consistent long-term cash flows and a healthy pipeline of projects. Successful fundraising efforts, such as the initial listing phase and the 2023 rights offer, have bolstered ANIREP's operational resilience and growth trajectory,…