Observer Money

Chamwe Kaira The Agricultural Employers’ Association (AEA) has expressed dissatisfaction with the Ministry of Labour’s stance on in-kind fringe benefits for farm workers, which must be provided in addition to the new National Minimum Wage (NMW).  The association says it will continue discussions with the ministry and has called for proper consultation to avoid further job losses. From this month, the minimum cash wage for farm workers has increased from N$10 to N$14 per hour. However, existing in-kind benefits remain compulsory.  These include housing with water and sanitation, as well as one of three food or land options.  The options…

Chamwe Kaira The Namibian Stock Exchange (NSX) closed the week ending 16 January 2026 on a mixed note, with the Local Index edging slightly lower while overall market activity remained steady. The NSX Local Index closed at 808.31 points on Friday, down slightly from 808.64 points at the end of the previous week. The index moved within a narrow range throughout the week, reflecting limited price movement in locally listed shares. The NSX Overall Index ended Friday at 2,174.39 points, down from 2,184.55 points a week earlier, following softer performances in some dual-listed stocks. Trading activity increased during the week.…

Staff Writer Standard Bank Namibia has introduced a new pricing structure aimed at making banking more affordable and accessible, effective 1 January 2026. Under the new model, customers can make point-of-sale (POS) purchases for free and receive three free ATM withdrawals per month.  The bank said the changes are intended to lower banking costs and encourage secure, card-based transactions. Nolan Angermund, Personal and Private Banking Product Head at Standard Bank Namibia, said the initiative forms part of the bank’s wider effort to simplify banking and promote financial inclusion. “Free swipes and free withdrawals are just the start of our commitment…

Staff Writer FNB Namibia has been named a Top Employer in Namibia and Africa for 2026 by the Top Employers Institute, marking the second consecutive year the bank has received the recognition. FNB said the certification reflects its focus on building a high-performing organisation through data-driven people strategies, independent assessment and practices that support business performance, employee engagement and growth. Commenting on the award, Isdor Angula, chief human capital officer at FirstRand Namibia, said the recognition “reflects our commitment to our people, which is unwavering. It demonstrates the consistency and intentionality of how the organisation invests in its people.” “It…

Chamwe Kaira The Bank of Namibia (BoN) has set limits on fees that local banks may charge for cross-border money transfers within the Common Monetary Area (CMA). The CMA includes Namibia, South Africa, Lesotho and Eswatini. According to the central bank’s directive on user fees, charges and speed of cross-border Common Monetary Area low-value transactions (PSDIR-9), as amended, Namibian banks may not charge more than N$20 for incoming or outgoing transfers below N$1 million. For transfers ranging between N$1 million and N$5 million, the maximum fee is capped at N$35 for incoming transactions and N$30 for outgoing transactions. The directive…

Chamwe Kaira Deep Yellow Limited has confirmed that Greg Field will begin his role as managing director and chief executive officer on 2 February. The confirmation follows an announcement made on 2 December 2025 on Field’s appointment.  Deep Yellow executive Chris Salisbury said the board was pleased that Field would start earlier than first expected. Salisbury said the board looks forward to Field’s leadership as the company approaches key decisions on the Tumas Project in Namibia and other developments across its portfolio.  He thanked Craig Barnes for serving as acting chief executive during the transition and said Barnes will return…

Chamwe Kaira PSG Financial Services has announced that some of its non-executive directors and their associates received PSG Financial Services shares following the implementation of a scheme of arrangement involving Curro Holdings Limited. In a notice issued on Wednesday, shareholders were referred to Curro’s announcement published on the JSE Stock Exchange News Service on 23 December 2025.  The announcement confirmed that the Jannie Mouton Stigting acquired the remaining Curro shares through a scheme of arrangement. Under the scheme, Curro shareholders received a mix of cash and shares held by the trust in two listed companies, including PSG Financial Services. The…

Staff Writer The Namibia Financial Institutions Supervisory Authority (Namfisa) has cautioned the public to use only registered microlenders when accessing short-term credit and related financial services. Namfisa said dealing with unregistered microlenders exposes consumers to unlawful practices, excessive charges and the loss of legal protection. Under Namibia’s Microlending Act, all microlenders must be registered and supervised to operate legally.  The Act aims to protect consumers by regulating lending practices and promoting transparency, fairness, and accountability in the microlending sector. Namfisa said registered microlenders must be formally authorised and are required to clearly disclose interest rates, fees, and repayment terms before…

Petra Diamonds has recovered a blue diamond weighing 41.82 carats from its Cullinan mine in South Africa. The stone, a type IIb of “exceptional quality”, is the first of its colour and magnitude the deposit has yielded in the past five years, Petra said Tuesday. The previous one was a 39.34-carat diamond it found at the site in April 2021. The company sold that gem for US$40.2 million. The miner is in the process of analysing the stone and deciding the best method of sale. The Cullinan mine is known for the recovery of rare, high-value blue diamonds. The stone…