Windhoek Observer – Page 37 – Windhoek Observer

30 Jan

Bannerman advances Etango project with no debt

Observer Money

Chamwe Kaira Bannerman Energy Ltd ended the quarter to 31 December 2025 with a cash balance of A$89.3 million and liquid assets of about A$12.7 million. The company has no debt apart from normal creditor balances. Early works spending reached about A$48.5 million, while committed early works contracts total around A$42.1 million. Bannerman said its balance sheet supports a disciplined, stage-gated approach to spending and contract awards. The company continues to assess funding options for Etango, including project and corporate debt, as well as possible offtake and joint venture arrangements. Azure Capital and Vermilion Partners are advising on the funding…

30 Jan

Japan plans synthetic diamond plant in US

Observer Money

Chamwe Kaira Japan plans to build a synthetic diamond plant in the United States under a memorandum of understanding signed with the United States. The agreement sets a framework for up to US$550 billion in Japanese strategic investments aimed at strengthening economic and national security ties between the two countries. The move could further weaken Namibia’s natural diamond exports, as the United States is one of the country’s largest markets. The Bank of Namibia has already said that growing competition from synthetic diamonds is pushing down prices for natural stones. Late last year, Debmarine Namibia chief executive officer Willy Mertens…

30 Jan

Paratus shareholders endorse board decisions

Observer Money

Staff Writer Paratus Namibia Holdings Limited said shareholders unanimously approved all resolutions tabled at its Annual General Meeting held on 27 January 2025. The meeting was convened in line with the notice issued to shareholders on 4 December 2025. No special resolutions were considered. At the time of the AGM, the company had 98.90 million shares in issue. Shareholders representing 91.84 million shares attended in person or by proxy. This represented about 93% of the total voting shares. Shareholders approved the adoption of the Integrated Annual Report for the financial year ended 30 June 2025, including the annual financial statements.…

30 Jan

Trustco terminates Legal Shield transaction

Observer Money

Staff Writer Trustco Group Holdings Limited has terminated its transaction framework with Legal Shield Holdings Limited after concluding that the conduct of Riskowitz Value Fund LP was incompatible with the framework approved by shareholders. In a market update, Trustco said its board completed a detailed review of the Legal Shield transaction approved by shareholders in December 2024. The review also considered later disclosures and the actions taken by Riskowitz Value Fund LP after the first tranche of the transaction was implemented. Trustco said shareholders approved the transaction on the clear basis that it would not lead to any direct or…

30 Jan

Woolworths grows sales despite tough trading

Observer Money

Staff Writer Woolworths Holdings Limited reported turnover and concession sales growth of 5.4% for the 26 weeks ended 28 December 2025. The growth exceeded inflation and reflected positive performance across all business segments despite tough economic conditions in South Africa and Australia. On a constant currency basis, group turnover and concession sales increased by 6.1%. The company said consumer demand remained resilient across its portfolio. In South Africa, Woolworths recorded above-market turnover and concession sales growth of 6.8%. The food business led performance, with turnover and concession sales rising by 7.0%, or 5.2%, on a comparable-store basis. The retailer reported…

30 Jan

Angola Oil & Gas launches in Luanda as investment accelerates

Observer Money

The Angola Oil & Gas Conference & Exhibition (AOG), organised by Energy Capital & Power was officially launched in Luanda this week marking the start of the countdown to the country’s premier oil and gas event. Scheduled to take place on 9-10 September 2026, in Luanda, under the theme Investing in the Future of Angola, the event comes on the heels of Angola’s 50 years of independence in 2025, providing a strategic platform for policymakers, operators, financiers and service providers to chart the next five decades of hydrocarbon development. With a one-billion-dollar investment pipeline underway, new barrels coming to the…

30 Jan

Ideology vs pragmatism, which is which?

Opinions

Kae Matundu-Tjiparuro Yours Truly Ideologically could not but take a keen and deep interest as well as be intrigued by the opinion piece of Rodney Cloete in the Namibian Sun of last Wednesday, 21 January, 2026 titled: Beyond East and West: What Namibia gets wrong about great power competition. Admittedly for Yours Truly, it is not only a good read but a good write for that. Its essence being the endeavour entreating Namibia to wake up to the challenges of today in a practical and unideological, if not an ideological, way, believing the days of ideology, those of hardline Western…

30 Jan

Beyond ceremony, remembering our leaders toward enduring legacy

Opinions

PAUL T. SHIPALE (with inputs by Folito Nghitongovali Diawara Gaspar) With only a few days remaining before the anniversary commemorations of three of Namibia’s most distinguished leaders, one cannot help but pause and reflect not only on their lives, but on how the nation chooses to remember them. The month of February carries profound historical and emotional weight for Namibians. It marks the remembrance of Dr Abraham Iyambo on 2 February, the late Third President of the Republic of Namibia, Dr Hage G. Geingob, on 4 February, and the Founding Father of the Namibian Nation and First President of our…

29 Jan

Gendev denies manipulating workers over fishing quota

National News

Renthia Kaimbi Gendev Fishing Group board chairperson Paulina Haindongo has denied claims that the company is using its workers to pressure the government for a larger fishing quota. Her response comes as Gendev considers retrenching 489 employees, a move that could raise job losses in Namibia’s wetland pelagic sector to about 1 100 since December. Haindongo challenged critics to produce proof. “It is not true that the company is using employees to force the government to give the company more quotas. Kindly provide us with the evidence where the company instructed the employees to pressure the government on quotas,” she…

29 Jan

Upgraded Okakarara Hospital laundry still idle

National News

Justicia Shipena The laundry unit at Okakarara District Hospital remains non-operational despite undergoing renovations. This was revealed on Tuesday during an oversight visit by the parliamentary standing committee on gender equality, health and social services. A total of N$15 million was allocated for the renovation of the hospital’s kitchen and laundry facilities. The funding was provided under the 2021/22 to 2023/24 Medium-Term Expenditure Framework. Construction work on both facilities has been completed. However, the laundry unit has not started operating due to unresolved problems with the sewage system. In April 2024, then health minister Kalumbi Shangula said during the groundbreaking…