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Chamwe Kaira The Namibian Competition Commission (NaCC) has unconditionally approved the takeover of Barloworld Limited’s operations in Namibia by Newco. “The parties therefore confirm that the standby offer condition relating to the receipt of approval from the Namibian Competition Commission has been fulfilled,” the company said. Barloworld and Newco announced the proposed deal on 28 February. Since then, the parties have been securing approvals from regulators across the region.  On 26 August, the Botswana Competition and Consumer Authority informed the two companies that it had unconditionally approved the implementation of the Newco offer.  “The parties therefore confirm that the standby…

Chamwe Kaira  Oryx Properties Limited profit for the year ended 30 June dropped to N$90 million compared to N$416 million last year. The company said reported profit, earnings per share, and headline earnings were hit mainly by the derecognition of deferred tax assets. This followed legislative changes that limit the carry-forward period for assessed losses to five years. “Although further amendments may be required on an annual basis, they are not expected to be material relative to the adjustments made in the current year. Had these legislative changes not occurred, the Group’s profit for the year, earnings per share, and…

Chamwe Kaira FirstRand Namibia reported a net profit after tax of N$1.9 billion for the year ended 30 June 2025, up 12.2% from N$1.7 billion in 2024. The group  said the results were driven by customer growth, higher transaction volumes, and effective cost containment despite rising impairments. Return on equity improved to 28.6% from 27.8%. Net asset value per share rose to 2,676 cents from 2,329 cents. A dividend of 476.34 cents per share was declared, representing a 34.7% year-on-year increase.  “We are pleased with our progress on the key drivers of shareholder value creation. Our performance reflects disciplined financial…

Staff Writer The Capricorn Foundation has invested N$41.6 million in more than 100 corporate social responsibility projects since its establishment in 2020. The foundation is funded by Capricorn Group’s Namibian subsidiaries Bank Windhoek, Capricorn Asset Management, and Entrepo. “We look forward to making even more positive impact in the next five years and to also apply the experience of the past five years, to assist other NGO's to build capacity, including our subsidiary in Botswana, where we are in the process of establishing the Capricorn Foundation,” said Marlize Horn, executive officer of the Capricorn Foundation. The Capricorn Group released its…

Staff Writer The African Union Development Agency (AUDA-NEPAD) and the African Union Commission (AUC), in collaboration with the Angolan government, will host Africa’s biggest infrastructure financing summit from 28 to 31 October 2025 in Luanda. The event follows the momentum of previous gatherings, including the 2023 Dakar Infrastructure Financing Summit.  It forms part of a continental effort to unlock investments and partnerships in support of the African Union’s Agenda 2063 infrastructure goals under the Programme for Infrastructure Development in Africa (PIDA). The summit comes at a time when Africa faces an annual infrastructure financing gap of more than US$100 billion…