Business Express

24/10/2025

Creating wealth at every stage of life - A Namibian perspective

By Deon van Dyk

In Namibia, meaningful discussions about personal finance often occur too late—typically in response to a financial crisis or major life event. Yet, wealth creation is not an event; it is a lifelong process that requires foresight, discipline, and adaptability. Much like Namibia’s vast and open landscapes, financial growth unfolds over time. Regardless of whether one is in their twenties or approaching retirement, proactive financial planning today will profoundly influence tomorrow’s outcomes.

By Deon van Dyk In Namibia, meaningful discussions about personal finance often occur too late—typically in response to a financial crisis or major life event. Yet, wealth creation is not an event; it is a lifelong process that requires foresight, discipline, and adaptability. Much like Namibia’...

24/10/2025

Rhino Resources plans new appraisal wells and flow test in Namibia

African oil and gas company Rhino Resources plans to drill an appraisal well on a Namibian prospect next year and take a flow test on another as it races TotalEnergies to first oil in the southern African nation, its chief executive said.

The appraisal well, potentially part of a block-wide program and subject to government approval, is planned for Capricornus where light oil was found and a flow rate of 11,000 barrels a day tested, while the drill stem test is planned for Volans, its latest high liquid-yield gas condensate find.

African oil and gas company Rhino Resources plans to drill an appraisal well on a Namibian prospect next year and take a flow test on another as it races TotalEnergies to first oil in the southern African nation, its chief executive said. The appraisal well, potentially part of a block-wide program....

24/10/2025

NASRIA announces strong financial results and regional expansion

The Namibia Special Risks Insurance Association (NASRIA) has reported a solid financial performance for the 2024/2025 financial year, marked by significant growth in assets and a continued commitment to regional expansion and social investment.

The state-owned entity confirmed it has maintained its proud record of clean audits, receiving an unqualified audit opinion for the year. NASRIA’s insurance revenue saw a 6% increase, rising from N$84 million to N$89 million, a growth attributed to new business and policy renewals.

The Namibia Special Risks Insurance Association (NASRIA) has reported a solid financial performance for the 2024/2025 financial year, marked by significant growth in assets and a continued commitment to regional expansion and social investment. The state-owned entity confirmed it has maintained its....

23/10/2025

Toska Sem appointed as vice-chairperson of the ICAO technical commission

The Namibia Civil Aviation Authority (NCAA) has announced the appointment of its Executive Director, Toska Sem, as Second Vice-Chairperson of the Technical Commission of the International Civil Aviation Organisation (ICAO), a role attained following her nomination by Australia and secondment by Cameroon and Kazakhstan during the recent 42nd ICAO Assembly, which took place in Montreal, Canada.

The Namibia Civil Aviation Authority (NCAA) has announced the appointment of its Executive Director, Toska Sem, as Second Vice-Chairperson of the Technical Commission of the International Civil Aviation Organisation (ICAO), a role attained following her nomination by Australia and secondment by Came...

22/10/2025

At first glance, Namibia’s mid-year budget review reads like a story of calm seas and steady hands

By Kara van den Heever

Revenue forecasts are holding firm, spending remains within the limits outlined in March 2025, and the shuffling of funds across departments has not led to any dramatic budget revisions. On paper, it is a portrait of stability and optimism.

But beneath the surface of those reassuring numbers lies a different reality: one of growing uncertainty and the quiet anticipation of tougher adjustments ahead.

22/10/2025

Galp to select partner for Namibia’s Mopane field by year-end

Portuguese energy company Galp Energia is in advanced talks with several major oil companies to divest a 40% stake in its Mopane field offshore Namibia, reported Reuters.

According to Galp executive board member Nuno Bastos, the company aims to select a partner by the end of this year.

Galp intends to sell half of its 80% stake in the Mopane field, which is estimated to contain reserves of at least ten billion barrels (bbbl).

Portuguese energy company Galp Energia is in advanced talks with several major oil companies to divest a 40% stake in its Mopane field offshore Namibia, reported Reuters. According to Galp executive board member Nuno Bastos, the company aims to select a partner by the end of this year. Galp intends....

22/10/2025

From resilience to relevance

By Ramona Itembu

Resilience has long been the essence of Namibians' ability to survive life. Whether returning from financial downturns, drought, or personal financial setbacks, we have learned to survive. But as we tick down the clock to the later part of 2025, surviving is not enough. The financial services industry must evolve from simply being resilient to actually being relevant in the life of average Namibians.

By Ramona Itembu Resilience has long been the essence of Namibians' ability to survive life. Whether returning from financial downturns, drought, or personal financial setbacks, we have learned to survive. But as we tick down the clock to the later part of 2025, surviving is not enough. The financia...

22/10/2025

GIPF – a Namibian epic success story that is yet to be told

By Hilma Niilonga Amukwiyu

The Government Institutions Pension Fund (GIPF) is Namibia’s epic success story that is yet to be told.

Established in 1989, its primary mandate is to provide pensions and related benefits to civil servants and employees of participating employers in Namibia.

By Hilma Niilonga Amukwiyu The Government Institutions Pension Fund (GIPF) is Namibia’s epic success story that is yet to be told. Established in 1989, its primary mandate is to provide pensions and related benefits to civil servants and employees of participating employers in Namibia. Its primary...

22/10/2025

Namibian Competition Commission pays N$9 million pecuniary penalties into the state revenue fund

The Namibian Competition Commission (NaCC) has transferred N$9 million in pecuniary penalties to the State Revenue Fund for the financial year ending March 2025. This action fulfils the Commission’s obligation under Section 53(5) of the Competition Act No.2 of 2003, which mandates that all collected penalties be paid into the fund.

The Namibian Competition Commission (NaCC) has transferred N$9 million in pecuniary penalties to the State Revenue Fund for the financial year ending March 2025. This action fulfils the Commission’s obligation under Section 53(5) of the Competition Act No.2 of 2003, which mandates that all collect...

22/10/2025

Building a greener Namibia, one tyre at a time

By Atushe Heita

Recycling is no longer just a choice, it is a necessity. As Namibia faces mounting waste challenges and the escalating threat of climate change, the question is no longer whether we should act, but how urgently we must act. For decades, our landfills and open spaces have been the final resting place for countless discarded materials, with used tyres among the most persistent culprits. Every year, Namibia discards an estimated 600,000 used tyres, a number that increases by about 2.8% annually. These tyres do not biodegrade quickly; in fact, they can take more than 50 years to fully decompose. In the meantime, they release toxic chemicals into the soil, pollute our air when burned, and often become breeding grounds for disease-carrying mosquitoes and other pests.

By Atushe Heita Recycling is no longer just a choice, it is a necessity. As Namibia faces mounting waste challenges and the escalating threat of climate change, the question is no longer whether we should act, but how urgently we must act. For decades, our landfills and open spaces have been the fin...

22/10/2025

Balancing access, autonomy, and financial responsibility

By Dr. John Steytler

The launch of the recent Fin Fit survey on how government employees view the Payroll Deduction Management System (PDMS) is about more than just collecting statistics. The data should give us pause to reflect on what the numbers are saying. It reminds us that financial systems are not abstract mechanisms; they impact people’s lives. As the former Statistician General, I know the power of data. It should connect policy with lived experience.

By Dr. John Steytler The launch of the recent Fin Fit survey on how government employees view the Payroll Deduction Management System (PDMS) is about more than just collecting statistics. The data should give us pause to reflect on what the numbers are saying. It reminds us that financial systems ar...

21/10/2025

Namibia adjusts budget amid economic headwinds, prioritises education and health

Finance Minister Ericah Shafudah presented the Mid-Year Budget Review for the 2025/26 fiscal year, outlining a strategic reallocation of resources to address urgent national priorities while maintaining fiscal discipline in the face of a slowing economy.

Tabled under the theme “Beyond 35: For a Prosperous Future,” the review keeps the global appropriation unchanged at N$89.4 billion. However, it shifts funds from underperforming projects and vacant positions to critical sectors, primarily education and health, reflecting the government's commitment to the newly launched National Development Plan 6 (NDP6).

Finance Minister Ericah Shafudah presented the Mid-Year Budget Review for the 2025/26 fiscal year, outlining a strategic reallocation of resources to address urgent national priorities while maintaining fiscal discipline in the face of a slowing economy. Tabled under the theme “Beyond 35: For a Pr...