Observer Money

The Namibia Special Risks Insurance Association (Nasria) has disclosed that during the 2024 financial year, its total assets increased to N$869 million, and its net profit exceeded N$100 million for the first  In 2024, Nasria restructured its investment portfolio and appointed six new investment managers to lead a sustainable growth strategy. As a result, insurance revenue increased by 6%, rising from N$79 million in 2023 to N$84 million in 2024. The growth was driven mainly by policy renewals and new business. Nasria’s executive of marketing, Ndapona Schleberger, spoke to Observer Money about the association’s evolving role in the insurance industry.…

Chamwe Kaira Rosh Pinah Zinc says its Rosh Pinah 2.0 expansion project has reached 75% completion.  The construction of the paste fill and water treatment plants is finished, and both are now being commissioned. “It is anticipated that both these plants will be handed over to operations early in the first quarter of 2025,” the company said. The underground piping and boreholes needed to distribute paste to the first trial stope have been installed. Barricading for the stope is complete, and all control instruments have been connected to the new control system through SCADA. The company said earthworks and civil…

Chamwe Kaira The China Development Bank (CDB) and the Development Bank of Southern Africa (DBSA) have signed a US$293 million loan facility agreement.  This marks the first financing cooperation between the two banks and will support infrastructure, energy, ICT, water, health, and manufacturing projects across Africa. “This agreement marks a new stage in our cooperation,” said CDB president Tan Jiong.  Both banks are members of the BRICS Interbank Cooperation Mechanism.  The agreement aims to enhance financial, economic, and trade cooperation among BRICS countries and strengthen the strategic partnership between China and South Africa.  It follows the ‘Ten Major Partnership Actions’…

Chamwe Kaira Water supply remains a challenge for the expanding uranium mining sector in the Erongo Region.  Namibia ranks fourth globally in uranium production, after Australia, Kazakhstan, and Canada. The mining industry has taken steps to address water constraints. According to the Chamber of Mines of Namibia's 2024 annual report, efforts include the commissioning of a bypass connection and the rehabilitation of a 34-kilometre pipeline from Omdel to the Orano desalination plant.  This upgrade has boosted the water supply by an additional 400 to 500 cubic metres per hour. The Orano plant’s capacity was further enhanced in December 2024 with…

The Walvis Bay Corridor Group (WBCG) has welcomed the recent strong show of support from Tsodilo Resources for Namibia’s ongoing railway infrastructure upgrades and expansion plans.  The developments, particularly the rehabilitation of the Walvis Bay-Tsumeb railway line and the planned extension from Grootfontein to Katima Mulilo under the Trans-Zambezi Railway initiative, are critical to strengthening Namibia’s position as the preferred trade route for southern Africa. Tsodilo Resources Ltd, a Botswana-based mineral exploration company, has expressed interest in using the Walvis Bay Corridors to export its high-grade iron ore.  The company has plans to construct a rail link in Botswana that…

Swakopmund’s built environment is undergoing a visible transformation, driven by a combination of sustained residential demand, strategic municipal investment, and broader development efforts aimed at repositioning the town as a regional hub for tourism, industry, and education. According to the latest municipal building statistics, Swakopmund recorded a steady 18% year-on-year increase in approved building plans in June 2025, with monthly approvals rising by 22% from May to June. Residential projects continue to dominate, making up over 96% of approvals, an indication of the town’s persistent housing demand and the pace of suburban expansion.  However, what’s particularly promising is the growing…

The island of Mauritius was once the native habitat of the dodo, a striking, flightless bird that went extinct in the face of unsustainable hunting by sailors. Today, the dodo is a national symbol for the country, representing the importance of conservation and sustainability efforts. Economies are also shaped by human action, including fiscal policy. Mauritius has a strong policy track record that has engendered a transition from an agricultural economy to a diversified upper-middle-income country.  However, Mauritius now faces challenges from high public debt, significant public investment needs, low productivity, and an ageing society. To address them, fiscal policy…

Justicia Shipena The newly appointed leadership of the Namibian Petroleum Operators Association (Nampoa) aims to enhance its role in the oil and gas sector by strengthening dialogue, coordination, and engagement across the industry. On Wednesday, Nampoa announced changes to its board. Shell Namibia country chair Eduardo Rodriguez has been appointed chairperson, replacing Klaus Endresen, who stepped down after two terms and over 30 years of service to the association and the industry. As a founding member of Nampoa since its establishment in 1992, the association said Endresen will remain on the board as a representative of BW Kudu.  The association…

Justicia Shipena  Sourcing construction materials locally or within the Southern African Development Community (SADC) region can help reduce building costs in Namibia, says Frederick van Greunen, a board member of the Institute of Namibian Quantity Surveyors (INQS). He was speaking to the Windhoek Observer on Wednesday during the INQS business breakfast held in Windhoek.  The event brought together over 60 participants, including architects, engineers, banks, lawyers, suppliers, and equity financiers, to discuss the role of quantity surveyors in the building industry. “We need to look in our neighbourhood if we are buying materials—tiles, steel, paint, sheeting. We mustn’t always import…

Allexer Namundjembo   A new Industrial Baseline Survey (IBS) says Namibia is not yet ready for large-scale oil and gas production because it lacks key technical certifications, strong health-and-safety systems and reliable compliance checks. The findings were shared in virtual session hosted by the Namibia Chamber of Commerce and Industry (NCCI).  The meeting, open to both NCCI members and non-members, centred on the nation's readiness for the upstream oil and gas sector. The IBS was launched in December 2024 and officially endorsed by the government. It was commissioned by NCCI and conducted by Deloitte Namibia, with contributions from the Ministry of…