Windhoek Observer

CHAMWE KAIRA  Mobile Telecommunications Limited (MTC) Ltd is expected to hold its Annual General Meeting in Windhoek on 28 February, the company said in a stock exchange notice. The AGM is expected to consider and if thought fit, to pass a number of ordinary resolutions. These include considering and adopting the audited financial statements of the company and the group and the reports of the directors and auditors for the year ended 30 September 2024. The meeting is also expected to pass the resolution to confirm the final ordinary dividend of 49.27 cents per ordinary share. Also on the agenda…

CHAMWE KAIRA  Bannerman Energy Ltd has confirmed that it has secured supply contracts to cover construction water and power requirements for its Etango uranium project in the Erongo region. In a quarterly update for the period ending 31 December 2024, the company announced that negotiations for life-of-mine operational water and power supply contracts have progressed as required and are now at an advanced stage. Regarding water supply, the company said operational water for Etango will be sourced from NamWater and supplied from desalinated sources to the base reservoir in Swakopmund. From there, the planned permanent Etango water supply infrastructure consists…

CHAMWE KAIRA  B2Gold Corp has announced an offering of convertible senior unsecured notes due in 2030, with an aggregate principal amount of US$350 million.  The company expects to grant initial purchasers an option for 15 days to acquire up to an additional US$52.5 million in notes. According to B2Gold, the net proceeds from the offering will be used to fund working capital requirements and for general corporate purposes.  Initially, the funds will be used to pay down the outstanding balance on the company’s revolving credit facility. Future draws on the facility will then be used to support working capital and…

CHAMWE KAIRA  Namibia’s automotive market is set for a strong recovery in 2025, driven by improving economic conditions and strategic vehicle launches. A report by Simonis Storm Securities projects that a more accommodative monetary policy and rising consumer confidence will accelerate vehicle sales across both passenger and commercial segments. Toyota is well-positioned to strengthen its market dominance, leveraging upcoming next-generation Hilux and Fortuner models, which will integrate improvements in fuel efficiency, technology, and safety features. The refreshed Corolla Cross, featuring advanced hybrid technology, reflects Toyota’s ability to align with evolving consumer preferences for fuel-efficient and cost-effective mobility solutions, the report…

Namdeb’s life of mine is up to 2042. Namdeb’s performance and continued journey as a significant contributor and role player in the Namibian economy would not have been possible without the royalty remission. Nambeb is currently enjoying a five-year,5% royalty remission, agreed with the government in 2021.   Namdeb’s 2023 production year is characterised by milestones including the historical production achievement of one million western-block square meters of area mined.  Namdeb obtained contestable customer approval from Namibia’s Electricity Control Board (ECB), a key milestone for the development of the Wind Farm which is a strategic imperative contributing towards energy cost…