Observer Money

Justicia Shipena Letshego Holdings Namibia has named Cornelius Kamerika as regional manager for the central and southern regions, effective 1 May 2025. The company announced the appointment on Tuesday. According to Letshego’s communications manager, Ongame Mutorwa, Kamerika will lead regional growth and profitability. He will drive business development, improve operations, and execute sales strategies. “Successful banking is built on the great customer experiences we create and the impact we have on those we serve,” said Kamerika.  He said he aims to build strong relationships with his team, customers, and stakeholders. Letshego Chief Commercial Officer Mbo Luvindao described Kamerika as a…

Robert McGregor Namibia is one of the few countries with pension fund assets exceeding GDP (106.6% of nominal GDP in 2024). These long-term savings are highly regulated, both in terms of what they may be invested in and where they may invest. Following changes gazetted in August 2018, Namibian pension funds have been required to invest at least 45.0% of their total assets in Namibia since 31 March 2019. This requirement, however, was only met by the end of March 2021. Despite a large ‘domestic savings pool’, Namibia's investable universe is constrained. The size of these savings has led to…

Niël Terblanché The Namibian Ports Authority (Namport) recorded a 4.8% increase in cargo throughput for the financial year ending 31 March 2025.  A total of 8.42 million tonnes moved through the Ports of Walvis Bay and Lüderitz, up from 8.03 million tonnes the previous year. Elias Mwenyo, Namport’s commercial executive, said in a statement on Tuesday that the growth reflects strong performance across various cargo segments. “The growth demonstrates the sustained strength of Namport’s operations across bulk, break-bulk, containerised, and liquid cargo segments and is attributed to continued cargo diversification, targeted infrastructure enhancements, and strategic partnerships with key industry stakeholders,"…

Justicia Shipena  Namibia’s foreign exchange reserves grew by 6.6% in April 2025, reaching N$63.6 billion.  This means the country now has enough money saved to pay for about 4.2 months of imports or 5.1 months if one excludes special oil-related imports that are funded from outside. Simonis Storm Securities revealed this in its April 2025 report on private sector credit extension released on Monday. According to Simonis Storm Securities, the rise in reserves is good news for Namibia. “The recovery in reserves reverses the sharp decline seen in March and helps restore external buffers. This improvement strengthens the credibility of…

Justicia Shipena The Capricorn Foundation has committed N$2 million to fight malnutrition in the country through two partnerships.  It will contribute N$600,000 to the Gondwana MealforTwo Programme and N$1.4 million to Genesis Namibia, focusing on the Omaheke Region. The Omaheke region has been hard hit by malnutrition.  In August last year, Governor Pijoo Nganate said the region recorded 30,219 malnutrition cases and over 800 deaths in two financial years.  In January of this year, the governor's office and commercial farmers provided 21 goats to support nutrition efforts in the region. The Capricorn Foundation’s new support builds on an earlier partnership…

Justicia Shipena  Economists at Simonis Storm Securities expect the Bank of Namibia (BoN) to keep the repo rate unchanged at 6.75% at its next Monetary Policy Committee (MPC) meeting.  The MPC will meet on 16 and 17 June 2025. In April, the MPC maintained the main interest rate, citing global policy uncertainty and rising inflation forecasts for this year and next.  The decision followed four consecutive rate cuts.  The BoN said it aimed to support domestic economic activity and protect the peg between the Namibian dollar and the South African rand. “In our view, the Bank of Namibia (BoN) is…

Justicia Shipena  Trigon Metals Inc. will sell its Kombat Project in Namibia to Horizon Corporation Limited through its affiliate Kamino Minerals Limited for $24 million (approximately N$444 million).  On Friday, Trigon announced a share purchase agreement dated 27 May 2025. Before the sale, Trigon will reorganise its internal structures. It will create a new wholly owned subsidiary in Ontario, named Trigon Ontario.  According to Trigon, all rights and obligations under its stream agreement with Sprott Private Resource Streaming and Royalty (B) Corp and Sprott Mining Inc. will be transferred to Trigon Ontario.  This move, Trigon said, releases it from any…

Justicia Shipena  Motorists will breathe a sigh of relief on Wednesday as fuel prices are set to drop. The Ministry of Mines, Industry, and Energy announced on Friday that petrol and diesel prices will decrease. Petrol will drop by 30 cents per litre, while both 50 ppm diesel and 10ppm diesel will go down by 70 cents per litre. The new pump prices at Walvis Bay will be N$20.37 per litre for petrol 95, N$19.92 for 50 ppm diesel, and N$20.02 for 10 ppm diesel. According to the ministry, during May, diesel prices declined globally due to oversupply concerns and…

Chamwe Kaira Namibia’s tourism sector maintained positive momentum in April, setting a solid base ahead of the peak travel season. National hospitality occupancy reached 54.94%, slightly higher than the pre-pandemic level of 54.73% recorded in April 2019. This was the highest monthly occupancy rate so far this year.  It reflects a 24.1% increase compared to the previous month. The year-to-date average stands at 41.49%, still below the 2019 average of 44.92%. Simonis Storm Securities reported that “Our 2025 tourism forecast projects a sectoral growth rate of 5.5%, underpinned by an anticipated 7.3% rise in visitor numbers and projected tourism revenue…