Observer Money

Chamwe Kaira  Bannerman Energy Ltd has appointed Danny Goeman as Independent Chair of its Product Offtake Committee. The company said Goeman is a seasoned commodity marketing executive with over 30 years of experience. He has worked across a range of mining companies, commodities, and regions. His previous roles include Director of Sales, Marketing and Shipping at Fortescue Limited. He also held several senior positions at Rio Tinto, such as General Manager for RTIO Marketing Asia, General Manager for Industry Analysis and Product Strategy, and Global Process Lead for Marketing Services. Goeman brings business experience in Asia and Europe, covering iron…

JOHN STEYTLER  Economic collaboration between Namibia and Botswana has the potential to reshape the regional energy landscape. Recently, President Dr Netumbo Nandi-Ndaitwah of Namibia and President Duma Boko of Botswana met to discuss critical economic initiatives. One of the key topics on their agenda was the possibility of a joint oil refinery, a move that could bring significant benefits to both nations. With Namibia anticipating substantial offshore oil discoveries, refining this resource domestically presents an opportunity to enhance revenue streams while reducing reliance on imported petroleum. Instead of merely exporting raw crude, a refinery would allow Namibia and Botswana to…

In an industry where every second of downtime can disrupt passengers and delay operations, a new satellite service is helping airports and airlines stay connected, no matter what. With the launch of SITA Managed Satellites, airports around the world can now maintain vital communication at all times, even during blackouts, natural disasters, or in the most remote or infrastructure-limited locations. The fully managed service is now available in over 130 countries, offering primary, secondary, and emergency connectivity options tailored specifically for the air transport industry. It takes advantage of low earth orbit (LEO) satellites to deliver secure, high-bandwidth, low-latency communications…

Niël Terblanché Fitch Ratings has affirmed Namibia’s long-term foreign currency issuer default rating, maintaining a stable outlook. Fitch also recognised Namibia’s BB country ceiling, one notch above the sovereign rating. The international rating agency pointed out the country’s relatively strong institutional framework and governance standards but cautioned that high public debt, fiscal deficits, and declining revenues present challenges to long-term stability. According to Fitch, Namibia’s ratings are supported by its strong governance indicators and institutional framework relative to rating peers, with its large non-banking financial sector offering flexibility in fiscal financing. “However, these strengths are offset by high fiscal deficits…

Niël Terblanché Despite growing optimism among African consumers, homegrown brands continue to lag in recognition, with the latest Brand Africa 100 rankings revealing that only 11 of the continent’s most admired brands are African, a historic low. The 2025 results, released at a ceremony in Addis Ababa on Friday, reflect a stark mismatch between belief in Africa’s potential and actual support for African-made products. Namibia, like many African countries, stands at a crossroads. While brands such as MTN and Dangote continue to command admiration, broader brand visibility and loyalty remain elusive. The United Nations Under-Secretary-General and Executive Secretary of the…

Niël Terblanché Walvis Bay Salt Holdings (WBSH), sub-Saharan Africa’s largest sea salt producer, has officially inaugurated a new 14,000-square-metre warehouse on the premises of the port of Walvis Bay. The facility, constructed at a cost of N$100 million, aims to improve the company's export capabilities and safeguard product quality. At the inauguration event, Erongo regional governor Neville Andre described the new warehouse as “a launchpad for growth.” Andre acknowledged the strategic importance of the new warehouse “It would expand storage capacity and enhance the port's competitiveness in a rapidly changing global market,” he said. The ceremony was attended by key…

CHAMWE KAIRA  The status of the Financial Institutions and Markets Act (FIMA) remains uncertain, with no clear indication it will come into effect this year. Namibia Asset Management (NAM) said the Act, in its current form, raises concerns about the long-term sustainability of the financial industry and business.  “We look forward to continuing to engage the Minister of Finance around how the Act can be implemented in a way that aligns with national interests and targets while also adhering to global best practice,” NAM said. NAM emphasised that the regulations must fit the local context to avoid unintended negative impacts…

CHAMWE KAIRA  Namdeb plans to upscale its planned 34 MW wind plant to 100-150 MW. Corporate affairs manager Grace Luvindao said the intent of the recent MoU signed with NamPower is to upscale the project to a significantly larger wind energy facility that is connected to the NamPower electrical grid.  “Initial indications are that the facility can be upscaled to between 100-150MW, however this will be confirmed as the study progresses. The capital cost and the funding for the project will be determined once the study phase of the project is nearing completion.” Luvindao said at present, Namdeb does not…

Chamwe Kaira The Central Procurement Board of Namibia says it is dealing with the government’s decision to cancel TransNamib’s plan to buy 23 new locomotives for N$1.7 billion. Johanna Kambala, Manager of Stakeholder Relations at the board, said the matter is sensitive and the board will respond to questions at an appropriate time. Minister of Works and Transport Veikko Nekundi confirmed that the locomotive tender had been cancelled due to concerns over sourcing from a single supplier. He said TransNamib now needs to come up with new timelines for the locomotive purchase. Earlier this year, TransNamib announced plans to buy…

CHAMWE KAIRA  Namibia’s construction sector is projected to grow by 8.5% in 2025, making it the fastest-growing sector despite accounting for just 1.4% of GDP in 2024. This growth is driven by monetary easing, increased public infrastructure investment, and renewed private sector confidence. Simonis Storm Securities said total output is expected to reach about N$4.3 billion. Growth will focus on residential developments, commercial real estate, and government capital projects. Since late 2024, the Bank of Namibia has cut interest rates by 100 basis points, easing financing conditions. Another rate cut is expected in the second half of 2025.  Lower rates…