Observer Money

Erasmus Shalihaxwe The Business and Intellectual Property Authority (BIPA) has extended the deadline for its Annual Duty Penalty Waiver Programme to 30 September. Announcing the extension on Tuesday, BIPA’s acting chief executive officer, Ainna Kaundu, said the move is part of ongoing efforts to support local entrepreneurs and improve compliance across the business sector. The waiver program allows registered entities that are in arrears with their annual duty payments to settle their obligations without incurring penalties or interest. Kaundu said the initiative offers businesses an opportunity to update their records, become compliant, and avoid the risk of deregistration. “We continue…

Niël Terblanché The Government Institutions Pension Fund (GIPF) has approved a 4% increase in pension benefits, effective 1 April 2025. This adjustment applies to all GIPF pensioners, qualifying annuitants, as well as spousal and child beneficiaries. The GIPF’s chief executive officer, Martin Inkumbi, announced the adjustment in a statement issued on Tuesday. He said that pensions in payment or deferment for less than a year as of 31 March 2025 will receive the increase on a pro-rata basis. “The Board of Trustees took this informed decision following the recommendation from the Fund’s Actuary,” Inkumbi said. He explained that the advice…

Niël Terblanché Namibia has officially launched its national Cyber Security Incident Response Team (NAM-CSIRT), a dedicated unit aimed at bolstering the country’s digital defences amid a rising tide of cyber threats. The minister of information and communication technology, Emma Theofelus, officiated at the launch in Windhoek on Monday. Theofelus described the launch of NAM-CSIRT as not just a unit, but as national defence against cyber threats. She added that the initiative embodies our commitment to safeguarding Namibia’s critical information infrastructure and ensuring the protection of our citizens' personal data, businesses’ intellectual property, and the integrity of our public and private…

CHAMWE KAIRA  The Bank of Namibia mobilised just over N$15 billion in alignment with the government’s domestic funding needs for the 2024/25 fiscal year, governor Johannes !Gawaxab told an investors conference this week. “This funding was secured at favourable pricing. Funding was strategically secured across nominal bonds, inflation-linked bonds, and treasury bills, the governor said. He pointed out that investor appetite remained strong, with auctions recording healthy bid-to-cover ratios of approximately two times. Furthermore, he said the government reaffirmed its commitment to redeem the Eurobond maturing in October this year through a disciplined and transparent strategy. The government will also…

CHAMWE KAIRA  TotalEnergies EP Namibia and its partners are planning to produce 160 000 barrels of oil per day at their proposed project situated offshore, which will have a storage capacity of around two million barrels of oil and a gas separation capacity of 550 000 million standard cubic feet per day (MMscfd). ThiIt is contained in documents, which form part of its application for environmental clearance of the project. TotalEnergies EP Namibia B.V., Namcor and Qatar Energy have announced plans to conduct an Environmental and Social Impact Assessment (ESIA) for the proposed development of the offshore Venus Field in…

Kevin Lings, Stanlib Asset Management senior economist, talks to Observer Money about the impact of the 21% tariffs imposed on Namibia by US President, Donald Trump.  Observer Money (OM): What do you make of the US government’s recent reciprocal tariff imposed on African countries which includes 21% tariffs on Namibia? Kevin Lings (KL): In general, the level of reciprocal tariffs introduced by the US are significantly higher than expected. It can be argued that the focus on the excessive tariff levels are focused on Asia, Cambodia, Vietnam, Indonesia, Thailand, although sub-Saharan Africa was also an area of focus including Angola,…

CHAMWE KAIRA  The imposition of a 21% tariff on Namibian exports by the United States, as part of a broader protectionist trade agenda, could exert notable pressure on Namibia’s inflation trajectory, Simonis Storm has said. The policy forms part of a sweeping tariff strategy that includes a 10% baseline tariff on all US imports, with elevated rates for specific trading partners, including Namibia. “Namibia’s key exports to the US, notably diamonds, uranium, and fish, are directly in the crosshairs of these tariffs. A decline in competitiveness in the US market may lead to reduced export volumes, lower foreign exchange earnings,…

CHAMWE KAIRA  Rangel, the logistics company, will also open a new office in Nakop, on the Namibian border, which will augment its current presence in Zambia and Tanzania. The logistics company entered the South African market in 2020 and has reaffirmed its commitment to helping Africa realise the potential of the African Continental Free Trade Area (AfCFTA) agreement through the additional investment of €6 million (N125.6 million) in a warehouse in South Africa. Covering an area of 10,000 m² near OR Tambo International Airport, the new warehouse will serve as a central hub for Rangel's expanding Contract Logistics offering, as…

CHAMWE KAIRA The Namibia Stock Exchange (NSX) had 12 primary listed companies as at 31 December 2024. The local market capitalisation, representing the total value of locally listed stocks, grew by 1.8% quarter-on-quarter and by 5.2% year-on-year to N$46.4 billion.  The Namibia Financial Institutions Supervisory Authority, said in the 2024 Fourth Quarter report that on a quarter-on-quarter basis, the local index rose by 1.3%, and by 2.9% year-on-year to 691 index points as at 31 December 2024. The value of securities traded declined by 93.1% quarter-on-quarter, and by 155.9% year-on year to N$123.9 million as at 31 December 2024. As…

CHAMWE KAIRA  The Southern African Customs Union (SACU) emerged as the biggest export destination for Namibian goods in February with a share of 30.7% of total exports, the Namibia International Merchandise Trade Statistics Bulletin revealed. BRICS and the OECD followed in second and third positions, contributing 23.7% and 23.3% to Namibia’s total exports, respectively. The Southern African Development Community (SADC), excluding SACU, and the European Union (EU) respectively occupied the fourth and fifth positions, accounting for 18.8% and 17.8% of total exports. Exports to SACU consisted mainly of non-monetary gold, while the export basket to the BRICS market was dominated…