Observer Money

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…

CHAMWE KAIRA  Deep Yellow, which is developing the Tumas Project in Erongo Region, has said the construction schedule has increased from 18 to 24 months and production ramp-up has also increased from six months to a more conservative case of 15 months.  The company said this schedule estimates wet commissioning will be completed within 24 months after Final Investment Decision (FID) decision, with ore processing and production ramp-up commencing thereafter.  Deep Yellow said the first product into drums is anticipated approximately two months after ore processing commences.  “The schedule estimated for Tumas is considered to be conservative and will be…

Hertta-Maria Amutenja  The country’s rising budget deficit and public debt levels pose long-term threats to economic growth and investor confidence. According to Simonis Storm economist Almandro Jansen, the country’s growing debt is increasingly limiting the government’s ability to invest in critical sectors such as infrastructure, education, and health. “The most immediate concern is that public debt is increasingly crowding out development spending, with interest payments now exceeding even capital allocations. This limits the state’s ability to invest in infrastructure, education, and health, all critical enablers of long-term growth,” he said. Jansen added that the persistent fiscal slippage risks weakening the…

Hertta-Maria Amutenja  The inaugural MTC Branding and Marketing Indaba kicked off in Windhoek yesterday, drawing more than 300 delegates and over 30 exhibitors from across the country and the region. Running from 9 to 11 April, the three-day event is the first of its kind in Namibia and aims to bring together professionals and experts in branding, marketing, communications, public relations, and advertising. The event is organised by MTC, seeks to offer a platform for learning, knowledge sharing, and professional networking. In his opening remarks, MTC’s Chief Brand, Marketing, Communications and Sustainability Officer, Tim Ekandjo, emphasised the need for a…

Niël Terblanché Namibia Revenue Agency (NamRA) has collected N$88.6 billion in tax revenue during the 2024/25 financial year, surpassing its initial target of N$85.3 billion. The Minister of Finance and Social Grants Management, Ericah Shafudah, announced the figures during NamRA’s 4th Annual Taxpayer and Trader Appreciation Day held in Windhoek on Monday evening. “This is not merely a success for NamRA but a reflection of the dedication and compliance of our taxpayers and traders,” she said while describing the outcome as a collective achievement. She added that the total collected represents 103.81 percent of the projected revenue for the financial…

Niël Terblanché The Namibia Civil Aviation Authority (NCAA) has been named the Best Civil Aviation Authority in Africa at the Aviation Week Africa (AWA) Gala Night, held recently in Livingstone, Zambia. This award recognises the NCAA's role in fostering safe, secure, and efficient air transport across the continent. Toska Sem, the NCAA’s Executive Director, accepted the award from Captain Gabriel Luembe, Director General of the Zambia Civil Aviation Authority. Sem attributed the achievement to the collective efforts of the NCAA team, the guidance of the Board of Directors, support from stakeholders, and strategic direction from the Ministry of Works and…

Allexer Namundjembo As rains continue to cause destruction in large parts of the country, flooding roads and damaging infrastructure, two of the country’s major open-pit uranium mines, HUSAB and Rössing, have remained largely unaffected. Irvinne Simataa, the Executive Vice President of HUSAB Mine, said the mine experienced minimal impacts. According to him, the effects were no different from the usual weather challenges. “There are no significant impacts on our operations. Our mine has always been resilient in responding to the challenges posed by the weather,” he said. Simataa added that the mine's infrastructure, including a well-constructed bridge over major river…

CHAMWE KAIRA  The Government Institutions Pension Fund (GIPF) has invested in the servicing of 5 884 plots, built 7 840 housing units, and financed 3 286 house purchases through the First Capital Housing Fund.  These efforts have created 4 052 job opportunities. According to its 2024 annual report, GIPF’s investments in land and housing aim to address Namibia’s housing shortage and support the Harambee Prosperity Plan (HPP).  Under the HPP’s Delivery of Urban Land, Housing and Sanitation goal, the country plans to build 20,000 new houses and service 26,000 residential plots.  GIPF has committed to take up at least 30%…

CHAMWE KAIRA  The government has revised down its revenue projections for the 2024/25 financial year to N$90.9 billion, a 1.3% decrease from earlier estimates.  The decline is mainly due to lower returns from state-owned enterprises, especially Namdeb Holdings. Budget documents from the Ministry of Finance show that dividends from SOEs fell by 75.7% to N$561 million. This was largely caused by Namdeb’s underperformance and the delay in receiving N$1.6 billion from the planned dissolution of Namibia Post and Telecommunication Holdings. Meanwhile, central government expenditure was left unchanged from earlier estimates, resulting in a revised budget deficit of 3.9% of GDP,…

CHAMWE KAIRA  DP World has opened a state-of-the-art temperature-controlled distribution facility in Walvis Bay, enhancing Namibia’s cold chain capabilities to meet rising demand for food service supply on the coast. The US$2 million investment underscores DP World’s commitment to driving trade efficiency and economic growth in the region. As the new home of Seapride Food Coastal, the facility, located at Deep Catch Namibia’s Atlantic Commercial Cold Store (ACCS) premises, features 720 pallets and will increase storage and occupational resources capacity for the service by 50%. Along with a new office building, it will significantly enhance food service capacity for the…