Page 9 – News Stand

08 Aug

Animal feed venture wins OM SEED competition in Omusati

info_e12wt4csNational News

Allexer Namundjembo An animal feed production project has claimed first place in the Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED) competition in the Omusati region. The winning venture, led by Sakeus Npiwashimwe, founder of Ndipwa Trading cc, focuses on enhancing food security and promoting sustainable agriculture. Npiwashimwe will recieve awarded seed capital and business development support to grow his business. Launched in 2022, the OM SEED initiative by the Old Mutual Foundation has supported entrepreneurs nationwide through funding, skills development, and long-term mentorship. Petrus Daniel, founder of Etunda GSP, secured second place with his agricultural and horticultural enterprise…

08 Aug

Zim parliament seeks e-parliament transformation with Namibia

info_e12wt4csNational News

Moses Magadza A delegation of senior staff members from the Parliament of Zimbabwe recently concluded a week-long learning exchange visit to Namibia's National Assembly and the Secretariat of the SADC Parliamentary Forum (SADC PF). The assistant clerk to the Parliament of Zimbabwe and leader of the delegation, Prince Daniel, described the experience as enriching and highlighted promising prospects for future collaboration. The six-member delegation focused on deepening their understanding of parliamentary practices, records management, and the institutional evolution of the SADC PF, particularly its transformation journey into a SADC Regional Parliament. “We might be an old democracy compared to our…

08 Aug

Brand Africa honours Namibia’s Best Brands: Windhoek Observer to publish exclusive supplement

info_e12wt4csFeatured, Observer Money

Windhoek — A celebration of African excellence and branding took centre stage recently as Brand Africa, in collaboration with the Windhoek Observer under the auspices of Paragon Media, hosted the 3rd edition of Best Brands Namibia awards. Held in the capital, the event brought together Namibia’s leading voices in business, media, and marketing, united by a shared vision to define, promote, and elevate African brands. At the heart of this movement is Brand Africa, a pan-African non-profit initiative founded in 2010 by renowned branding authority Dr Thebe Ikalafeng. The initiative was born from a bold and urgent mission: to drive…

08 Aug

Nedbank writes off Namibian home loans

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Chamwe Kaira Nedbank Group’s results for the six months ending June 30 revealed a 77% increase in impairments, totalling N$184 million. This rise was driven by write-offs in Namibia’s retail home loan portfolio, impairment reviews in Eswatini, and a downgrade in Mozambique’s sovereign debt ratings. Nedbank also extended its intelligent depositor device rollout across Eswatini, Lesotho, Namibia, and Zimbabwe, now offering cash recycling capabilities. Terence Sibiya, Nedbank’s group managing executive for Africa Regions, emphasised that the future of the bank’s growth lies in Africa. The Nedbank Africa Regions (NAR) cluster, which includes Eswatini, Lesotho, Mozambique, Namibia, and Zimbabwe, along with…

08 Aug

Letshego pays N$219 million dividends

info_e12wt4csObserver Money

Chamwe Kaira Letshego Holdings Namibia will pay a dividend of N$219.4 million, or 43.88 cents per share, to its ordinary shareholders, according to the company’s interim financial results for the period ending 30 June 2025. The company, listed on the Namibia Stock Exchange (NSX), declared the interim dividend on 1 August, pending regulatory approval. Salient dates will be announced once approval is obtained. The results showed a 24.6% increase in profit after tax, rising to N$248 million from N$199 million in the six months ending 30 June 2024. Operating profit grew to N$284 million from N$219 million during the same…

08 Aug

Reserves increase by 3.8% to N$59.6 billion

info_e12wt4csObserver Money

Chamwe Kaira The Bank of Namibia’s international reserves increased by 3.8% to N$59.6 billion at the end of June. This rise was mainly driven by net inflows from commercial banks and customer foreign currency (CFC) placements. The reserves cover 3.9 months of imports, or 4.8 months excluding oil exploration and appraisal activities. Namibia’s banking industry cash balances fell further in June. Commercial banks held N$6.1 billion in cash, down from N$8.5 billion in May, primarily due to corporate tax payments made at the end of the month. Growth in broad money supply slowed in June. Annual growth in M2 decreased…

08 Aug

Demand for clean energy drives uranium market

info_e12wt4csObserver Money

Chamwe Kaira The demand for uranium is being driven by the existing reactor fleet, reactors under construction, and reactor life extensions, particularly in the US and other countries, according to Paladin Energy. Significant growth in nuclear energy demand is expected from commitments made at COP28 and COP29. Thirty-one countries, including the US, Canada, the UK, and France, have pledged to triple nuclear power capacity by 2050. Another contributing factor is US President Donald Trump’s executive orders to boost the nuclear energy sector in the US, aiming to quadruple the US nuclear fleet from 100 GW to 400 GW by 2050. …

08 Aug

Repo rate expected to remain unchanged

info_e12wt4csObserver Money

Chamwe Kaira The repo rate is expected to remain unchanged at 6.75% for the rest of the year. The Bank of Namibia (BoN) aims to narrow the interest rate gap with South Africa, which currently stands at 25 basis points, in order to maintain stable capital flows. The central bank kept the repo rate unchanged during its June meeting. "This decision reflects its commitment to maintaining the currency peg with the South African rand while also supporting the domestic economy and aligning with global and regional policy trends," said FNB Namibia economist Cheryl Emvula. She added that the monetary policy…

08 Aug

Livestock prices show stability and growth

info_e12wt4csObserver Money

Chamwe Kaira The Livestock Producers’ Organisation (LPO) has released its latest report on livestock price trends for the period January to June, showing a generally positive outlook across most categories. The report, compiled from data from abattoirs, auctions, and international benchmarks, highlights price movements in Namibia’s livestock sector. Namibian cattle prices remained firm in the first half of 2025. Slaughter prices for A2/3, B2/3, and C2/3 grade carcasses showed slight upward movements with minimal monthly volatility. Cow categories, both lean and fat, also maintained stable prices throughout the reporting period. Cattle auction prices for weaners and tollies reflected slight increases…

07 Aug

Tariffs fuel volatility in diamond prices

info_e12wt4csObserver Money

Diamond prices declined for most of July amid uncertainty over US tariffs. Major retailers postponed holiday purchases, creating pressure on prices and inventory following a hike in manufacturing. US dealers raised prices on the final day of the month in response to President Donald Trump’s July 30 announcement of 25% duties on Indian imports. The trade began moving inventory to the US ahead of 7 August, when the new rate goes into effect. Smaller diamonds saw a sharper downturn amid a growing oversupply: The index for 0.30- and 0.50-carat stones declined 3.3% and 4.7% respectively. Larger stones enjoyed more stability,…