Observer Money

Chamwe Kaira FirstRand Namibia Limited expects earnings and headline earnings for the year ended 30 June 2025 to rise by 10% to 15% compared to the previous year. “The main drivers of the increase in headline earnings are growth in customers, increased customer activity and effective cost containment. The group’s audited financial results will be released on or about 11 September,” the Namibian Stock Exchange, listed company said in a trading statement. For the year ended 30 June 2024, the group, which includes FNB Namibia, recorded a net profit after tax of N$1.704 billion, up from N$1.561 billion in the…

Chamwe Kaira The European Union (EU) delegation in Namibia is funding the 1 000-cattle capacity Etunda Feedlot, valued at N$80 million, as part of a N$400 million support package to the livestock sector in the Northern Communal Areas (NCA). EU deputy head of mission in Namibia, Ian Dupont, told Observer Money that the feedlot addresses low throughput and livestock quality challenges faced by NCA abattoirs.  It will provide better-quality cattle for slaughter and allow farmers in regions such as Omusati, Kunene, and Oshana to access more diversified markets. “It is expected to strengthen the livestock value chain, improve business viability…

Chamwe Kaira The South African Competition Tribunal has approved Newco’s N$23 billion acquisition of Barloworld, subject to public interest conditions, including the implementation of a broad-based black economic empowerment structure after delisting. Barloworld Equipment, a subsidiary of Barloworld, operates across Namibia, Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, South Africa, Zambia, Zimbabwe, and the Democratic Republic of Congo’s Katanga province. In Namibia, Barloworld Equipment distributes and supports Caterpillar and other heavy machinery used in mining, construction, and other industries.  The company has operations in Windhoek, Walvis Bay, and Swakopmund. Its services include oil and gas ratings, marine power solutions, industrial engine…

National Housing Enterprise (NHE)’s manager of corporate communications and marketing, Mutonga Matali, talks to Observer Money about the company’s financial status, housing projects and the housing backlog on its books.  Observer Money (OM): Does the NHE sustain itself or make profit? Mutonga Matali (MM): NHE sustains its operations through revenue generated from property sales, loan repayments and rental income, which is reinvested to expand the housing portfolio for the benefit of prospective clients. During the launch of the 2023/2024 annual report, NHE announced a N$6 million profit realised in 2024. OM: Does the NHE depend on government funding to fund…

Paratus Group will in the coming weeks launch a mobile data network in Namibia that will challenge the dominant state-owned incumbent, MTC. Barney Harmse, group executive chairman at Windhoek-headquartered Paratus, a fast-growing digital infrastructure company with operations across Southern Africa, revealed the plans in an interview with the TechCentral Show.  He also disclosed that Paratus is considering a listing in New York in the coming years, though no firm decisions have been made in this regard.  Paratus’s entry could kick-start a shake-up in the competitive dynamics of Namibia’s mobile sector.  The Namibian mobile network, which will offer data-only services in…

Chamwe Kaira Namibia’s beef and charcoal exports to the European Union (EU) are under threat after the EU identified several products that contribute to global forest degradation. The Namibian Agricultural Union (NAU) informed its members that the EU has introduced new rules under the European Union Deforestation Regulations (EUDR).  These rules require exporting countries to ensure that identified products are produced within strict guidelines.  For Namibia, the affected products include beef, cattle hides, and charcoal, while soya beans used in animal feed have an indirect impact. The EUDR takes effect on 1 January 2026. Namibia is working to put systems…

Chamwe Kaira  Andrada Mining Limited has completed construction of its second processing plant at the Uis mine in Erongo.  The jig plant was built on time and within budget, and commissioning is set to begin in the final week of August. The new plant is expected to boost tin output significantly by adding more processing capacity.  Chief executive officer Anthony Viljoen said the completion of the jig plant on time and within budget is a smart, low-cost upgrade that will immediately boost Uis tin production on the completion of commissioning.  "The plant is a key milestone towards doubling production and…

Chamwe Kaira Sprott Inc and its controlled corporate entities have reduced their shareholding in Elevate Uranium Ltd, according to a shareholder notice on the stock markets. The Sprott Group Entities’ holding dropped from 41 999 990 shares, representing 10.892% voting power, to 37 968 150 shares, equivalent to 9.846% voting power. The reduction followed a series of on-market trades executed by Sprott and its related entities across various dates, decreasing the number of voting shares held. Sprott Asset Management USA Inc, a fund and investment manager within the group, controls the voting and disposal of the shares.  As a controlled…

A high-level gathering of tourism investors, developers and ESG leaders has sparked critical debate about the relevance of global sustainability standards in the Southern African context, raising pressing questions about whether widely used environmental, social and governance (ESG) frameworks are fit for purpose in emerging markets. Hosted by the SADC Tourism Alliance, the closed-door think tank titled Profit, Planet, People: How Global Hospitality is Scaling in Southern Africa Responsibly, marked a regional convening to bring hospitality operators and sustainability experts into a candid conversation with developers and private equity. What emerged was clear: while ESG remains a vital entry point…

Chamwe Kaira  Botswana’s minister of transport and infrastructure and co-chair of the Joint Ministerial Committee (JMC) of the Trans-Kalahari Railway (TKR) project, Noah Salakae, says the railway is too important to fail. He made the remarks during the recent Joint Ministerial Committee meeting in Maun.  “If the feasibility numbers do not immediately convince financiers, we must not fold our arms. We must innovate, adapt, and build the partnerships that will make it happen,” said Salakae. The governments of Namibia and Botswana signed a Memorandum of Understanding (MoU) in 2010 to develop the Trans-Kalahari Railway.  In 2014, they signed a bilateral…