Observer Money

Staff Writer During the 2024/2025 financial year, the Ongwediva Town Council implemented a capital budget of N$53 million for infrastructure development and service delivery projects.  The aim is to improve the quality of life for residents and support the town’s growth. Several projects have been completed. These include the planning and replanning of Extensions 13 and Elyambala at N$217 391, the replanning of Extension 2 Township at N$86 957, fire and rescue equipment worth N$173 913, the multipurpose sports field Phase 4 at N$4.3 million, park fixtures at Extension 14, ICT equipment, office furniture, and the installation of Christmas lights.…

Staff Writer The Development Bank of Namibia (DBN) has strengthened its presence in the Oshana Region, financing projects worth N$978.7 million since its inception.  According to the Oshana Regional Council, the investments have supported a range of sectors with significant impact. The largest share of funding went to the construction industry at N$170.8 million, while housing development received N$152.6 million.  Electricity infrastructure projects in Oshana were supported with N$116.8 million. In the 2024/25 financial year, the health sector received N$22.1 million. DBN also provided N$1.8 million to finance micro, small and medium enterprises (MSMEs) in the region. During the 2024/25…

The European Union (EU) and the Namibian government recently broke ground on the N$78.9 million Etunda Feedlot Project.  The Windhoek Observer’s Chamwe Kaira asked Ian Dupont, EU deputy head of mission in Namibia, about the Etunda project and other EU-funded agricultural projects in northern parts of the country.   Chamwe Kaira (CK): Why did the EU decide to fund the Etunda Feedlot Project, and what is its importance to the northern regions? Ian Dupont (ID): The European Union (EU) is funding the 1000-cattle capacity Etunda Feedlot, valued at N$80 million, as part of a broader N$400 million support package to the…

The governor of the Ohangwena region, Kadiva Hamutumwa, has called for the urgent development of the Ohangwena Aquifer to secure water supply for domestic, agricultural, and industrial use. “Additionally, we should work hard at developing earth dams that will serve as strategic catchment areas for both rain and floodwater. This will serve as our water security strategy for the region, as this water is best to use for agricultural purposes,” she said. Hamutumwa also stressed the need for critical road and network infrastructure to enhance business development.  She said economic growth depends on creating industries and businesses that can serve…

Oshana governor, Hofni Iipinge, has called for the extension of the Etaka Canal to reach Lake Oponona to support irrigation and livestock farming in the southern parts of the region. He also urged the operationalisation of local abattoirs and support for farmers to boost agricultural productivity and promote value addition to regional produce.  Iipinge stressed the need to accelerate capital projects and development programmes to stimulate economic growth and job creation. He said the region should prioritise the implementation of the revised compensation policy to improve land delivery through adequate funding for compensation and land servicing at the local authority…

Paratus Namibia will be participating in the Ongwediva Annual Trade Fair from 22 to 30 August 2025 in the Oshana Region. Visitors to the Paratus stand will be able to see the newest connectivity solutions and experience first-hand the impact that technology can have on everyday life. Visitors will have an opportunity to see Paratus Fiber, Sky-Fi, LTE and Mobile Voice services in action. New subscribers who sign up during the fair will get special offers, including free installation or a complimentary first month. Paratus Namibia representatives will be available to assist customers in choosing suitable solutions for their homes…

Chamwe Kaira The Bank of Namibia (BoN) will conduct a bond auction on Wednesday to raise N$2 billion. The issuance includes N$1.5 billion in nominal fixed-rate bonds and N$500 million in inflation-linked instruments. This comes after BoN announced that an additional N$2 billion will be raised through the domestic market because of delays in external sourcing. Overall banking industry liquidity currently stands at N$7.4 billion, with the Namibian position at N$1.67 billion. Kara van den Heever of Simonis Storm Securities said the previous bond auction drew strong interest, with bids of nearly N$1.7 billion against an initial offer of N$487…

Chamwe Kaira The Chamber of Mines of Namibia has warned that the government’s requirement to process rare earth elements and lithium locally could deter investment.  The chamber said the deposits are often small, and the policy creates uncertainty, limiting their development. It also raised concerns about the requirement for farmland transfer when acquiring a mine or mining license, saying the process is slow and creates unnecessary delays. On the Fraser Institute Survey, Namibia’s ratings improved, with its Investment Attractiveness Index rising from 56 in 2023 to 66 in 2024.  The country’s global ranking climbed to 35th out of 82 jurisdictions,…

Chamwe Kaira Mobile Telecommunications Company (MTC) says it will continue focusing on customer value and innovation as competition in the mobile market grows. “The Namibian market, particularly the space of data service consumption, is continuing to grow and becoming more attractive,” said Erasmus Nekundi, corporate communications practitioner at MTC.  “As an institution that has now existed for 30 years, built from the ashes by the Namibian people, sustained by the Namibian people, working for the Namibian people, and proudly connecting Namibia will continue to be at the forefront of technology and innovation as the market evolves.” His comments follow confirmation…

Chamwe Kaira FirstRand Namibia Limited expects earnings and headline earnings for the year ended 30 June 2025 to rise by 10% to 15% compared to the previous year. “The main drivers of the increase in headline earnings are growth in customers, increased customer activity and effective cost containment. The group’s audited financial results will be released on or about 11 September,” the Namibian Stock Exchange, listed company said in a trading statement. For the year ended 30 June 2024, the group, which includes FNB Namibia, recorded a net profit after tax of N$1.704 billion, up from N$1.561 billion in the…