Observer Money – Page 57 – Windhoek Observer

10 Jul

Savanna Beef eyes increased weaners slaughter

Observer Money

Savanna Beef Operations (Pty) Ltd began trading and all operational activities on 3 May 2024. The company’s administrative expenses included several once-off start-up costs. These comprised debt raising fees amounting to N$2.8 million, stamp duty and bond registration fees of N$2.1 million, and legal fees of N$1.5 million. For the financial year, finance costs were accrued for loans from the Industrial Development Corporation of South Africa (N$3.7 million) and Energy Utilities Assets (Pty) Ltd (N$0.6 million), totalling N$4.3 million, which were capitalised. Construction of the abattoir is expected to be completed by the end of September 2025. A ramp-up period…

10 Jul

Northern regions bear brunt of June inflation

Observer Money

Chamwe Kaira The inflation rate in Zone 1, which includes Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi, stood at 3.9% in June 2025, down from 4.8% recorded in June 2024. According to the Namibia Statistics Agency, the decline in the annual inflation rate was mainly driven by lower prices in transport (from 8.4% to -0.9%), hotels, cafes and restaurants (from 4.1% to 2.4%), alcoholic beverages and tobacco (from 7.5% to 5.9%), and household furnishings and maintenance (from 4.5% to 3.2%). On a monthly basis, inflation in Zone 1 stood at 0.2% in June, compared to…

10 Jul

Koryx copper receives encouraging drill results

Observer Money

Chamwe Kaira Koryx Copper Inc. has announced assay results from six drill holes totalling 1,808 metres, completed under phase two of its 2025 exploration and development programme at the wholly owned Haib Copper Project in southern Namibia. Haib is an advanced-stage copper, molybdenum, and gold project designed to produce clean copper concentrate through a conventional crushing, milling, and flotation process. The project also has potential for additional copper production through heap leaching. Koryx President and CEO Heye Daun said the company’s geological understanding of the project continues to improve, supported by the work of consultant Dr Warren Pratt. “Our geological…

10 Jul

AfCFTA engagement is gaining momentum

Observer Money

Namibia’s engagement with the African Continental Free Trade Area (AfCFTA) is gaining momentum, marked by both statistical significance and real trade execution. In May, Namibia exported goods worth N$5.3 billion to the African continent while importing N$5.7 billion, resulting in a trade deficit of N$421 million. Intra-African exports accounted for 44.9% of total exports, while 49.0% of total imports originated from the continent, emphasising the central role of African markets in Namibia’s trade structure. Top intra-African export destinations included South Africa, Botswana, Zambia, the DRC, and Zimbabwe, with key exports comprising fish, precious metals, salt, and base mineral products. On…

10 Jul

How to stabilise Africa’s debt

Observer Money

In the context of high global uncertainty, tighter global financial conditions, and rising borrowing costs, concerns about sub-Saharan Africa’s debt vulnerabilities are mounting. But the region is tackling this issue head-on, and public debt ratios have stabilised on average. Our analytical note in the IMF’s latest Regional Economic Outlook for sub-Saharan Africa uses a new data set to highlight when, how often, to what extent, and how debt stabilisation was achieved. Contrary to perception, countries in the region have often been able to stabilise or reduce their debt ratios without debt restructuring. With more than 60 debt reduction episodes (defined…

09 Jul

NIPDB, NSI ink deal to back MSMEs

Observer MoneyEino Mvula, Nangula Uaandja

Allexer Namundjembo The Namibia Investment Promotion and Development Board (NIPDB) and the Namibian Standards Institution (NSI) have signed a memorandum of understanding (MoU) to strengthen the country’s standards ecosystem. The agreement aims to support micro, small and medium enterprises (MSMEs), boost investment, and improve the competitiveness of Namibian products. The signing took place this week at the Investment House in Windhoek. NIPDB chief executive officer Nangula Uaandja said the agreement shows a shared commitment to building a standards-driven economic environment. “Today’s signing is not just a procedural milestone; it represents our shared commitment to enabling a competitive and standards-driven economic…

08 Jul

Businesses tap brakes on borrowing

Observer Money

Justicia Shipena Businesses in Namibia are showing more caution in their borrowing activity, with corporate credit growth continuing to slow in May 2025. According to Simonis Storm’s latest Private Sector Credit Extension report, companies are becoming more deliberate in their financing decisions amid a complex economic environment. The total corporate debt stock rose slightly to N$50 billion in May, up from N$49.5 billion in April. However, the annual growth rate declined to 6.5%, compared to 7.1% in the previous month. Simonis Storm noted that this moderation was driven by net repayments and lower uptake across key lending categories. “Companies are…

08 Jul

Green investment talks set for Walvis Bay

Observer Money

Justicia Shipena Policymakers and energy leaders from six African countries will convene in Walvis Bay this week for the Namibia Parliamentary Green Investment Dialogue. The four-day regional event, running from Thursday through Sunday, will focus on mobilising climate finance for green energy development. The dialogue will bring together delegations from Botswana, Kenya, Namibia, Rwanda, Zambia, and Zimbabwe. The event is hosted by the Climate Parliament and the United Nations Industrial Development Organisation (UNIDO), with support from the Green Climate Fund (GCF). It marks the final leg in a series of regional dialogues held under the Parliamentarians for Climate Finance project,…

08 Jul

Green investment talks set for Walvis Bay

Observer Money

Justicia Shipena Policymakers and energy leaders from six African countries will convene in Walvis Bay this week for the Namibia Parliamentary Green Investment Dialogue. The four-day regional event, running from Thursday through Sunday, will focus on mobilising climate finance for green energy development. The dialogue will bring together delegations from Botswana, Kenya, Namibia, Rwanda, Zambia, and Zimbabwe. The event is hosted by the Climate Parliament and the United Nations Industrial Development Organisation (UNIDO), with support from the Green Climate Fund (GCF). It marks the final leg in a series of regional dialogues held under the Parliamentarians for Climate Finance project,…

08 Jul

Top NIPDB investment executive to exit end of July

Observer Money

Justicia Shipena The executive for investment at the Namibia Investment Promotion and Development Board (NIPDB), François van Schalkwyk, will be stepping down from his position. The NIPDB announced on Tuesday that his last working day will be 31 July 2025. NIPDB senior manager for marketing, branding, and communications, Catherine Shipushu, said that after more than four years at the institution, Van Schalkwyk has decided to pursue other interests and relocate to the United Kingdom to spend more time with his young family. Van Schalkwyk joined the NIPDB as one of its first employees and played a key role in shaping…