Observer Money

October demonstrated an impressive upturn in total new vehicle sales, reaching 1 145 units. This represents a 24.6% year on year increase from 919 units in October 2023 and a notable 15.9% month on month rise from September 2024. Historically, October vehicle sales have typically fallen below the 1 000-unit threshold; however, this year's outperformance is primarily attributable to pre-year-end tax-related purchases. This surge suggests heightened activity among both businesses and individuals seeking to optimize tax benefits before fiscal year closure. Commercial vehicle sales remained the primary driver of the market, accounting for 55% of total vehicle sales, with 631…

CHAMWE KAIRA The South African government has noted and welcomed S&P’s decision to revise South Africa’s outlook to positive from stable and affirm the sovereign’s long-term foreign and local currency debt ratings at ‘BB-’ and ‘BB,’ respectively, the government said in a statement on the Johannesburg Stock Exchange. According to S&P, the positive outlook reflects the agency’s view that increased political stability following the May 2024 general elections and impetus for reform could boost private investment and GDP growth. S&P expects that South African GDP growth will increase to 1.4% over 2025–2027 from 1% in 2024 as electricity load-shedding has…

CHAMWE KAIRA Several companies listed on the Namibia Stock Exchange have announced a number of changes to their boards. Bannerman Energy Ltd announced the appointment of experienced mining executive Bruce McFadzean as a non-executive director, with immediate effect. McFadzean is a mining engineer with over 40 years of mining and process experience across a broad range of commodities and geographies. He has had extensive exposure to all levels of operations and corporate leadership throughout his career, including managing the construction, commissioning, and ramp-up of six new mining operations globally. Bannerman’s Managing Director and Chief Executive Officer, Brandon Munro, said: “We…

CHAMWE KAIRA Sanlam and Ninety One have entered into a binding framework agreement, the companies announced in a stock exchange notice. Under the terms of the agreement, the parties have agreed to establish a long-term relationship whereby Sanlam will appoint Ninety One as its primary active investment manager for single-managed local and global products. Both companies have operations in Namibia. Ninety One will acquire all the issued shares in Sanlam Investment Management Proprietary Limited, an active investment management business wholly owned by Sanlam Investment Holdings Limited, in which the Sanlam Group holds an effective 65.6%. SIM will become a wholly…

CHAMWE KAIRA The Ministry of Agriculture, Water and Land Reform has released a report titled 'Strategy for the Transformation of the Agri-Food Sector, 2025/26–2030/31. Agriculture continues to be the primary source of food, employment, and income for the majority of Namibians. It is the biggest employer, responsible for 23% of the labour force, also on account of the labour intensive nature of agriculture. The report said a growing Namibian middle class, along with large-scale rural-to-urban migration and a projected 74% growth of the national population from 2.5 million in 2021 to 4.4 million in 2050, are expected to increase the…

Martin Endjala The Bank of Namibia hosted a quarterly Common Monetary Area (CMA) and Central Bank Governors meeting in Windhoek last week to discuss strengthening economic resilience and improving cross-border payment systems. Key topics included reducing frictions in payment integration, ensuring equitable access, and streamlining regulatory frameworks for efficiency and integrity. Kazembire Zemburuka, the bank’s strategic communications and international relations director, announced on Monday that the discussions centred on improving the speed, cost, and customer experience of cross-border payments. The CMA is actively engaging international development partners, including the International Monetary Fund (IMF) and the World Bank, for support and…

Niël Terblanché By aligning efforts to create a digital future for the country with its national development goals, Namibia is in the continuous process of positioning itself as a regional leader by leveraging all available technology. In this regard, the Ministry of Information and Communication Technology (MICT), hosted yet another high-level engagement at the Namibian Institute of Public Administration and Management (NIPAM) last Thursday. The event brought together captains of the ICT industry, stakeholders, and experts to discuss pressing challenges and ambitious opportunities for Namibia's ICT landscape. Emma Theofelus, while officially inaugurating the event reiterated the transformative potential of technology…

Martin Endjala The Construction Industries Federation of Namibia (CIF) has called on the government to release the Labour Force Survey from the 2023 Population and Housing Census. The industry cited the lack of data, which is hampering effective planning and recovery for the struggling construction sector. Despite conducting a national census in 2023, Bärbel Kirchner, the chief executive officer of CIF, said the sector continues to function without any current employment data. “Our industry needs to understand the extent of job losses and identify where we can retrain and reskill to meet the demands of recovery and support growth in…