Windhoek Observer – Page 414 – Windhoek Observer

28 Nov

ReconAfrica appoints new directors

Observer Money

CHAMWE KAIRA Reconnaissance Energy Africa (ReconAfrica) Ltd has announced an operational update with respect to its exploration activities on Petroleum Exploration Licence 073, onshore Namibia, the appointment of directors and the filing of its financial results for the quarter ended 30 September. The highlights included the Spud the Naingopo exploration well in the Damara Fold Belt on 7 July, 2024. The well is currently drilling at a depth of 4 000 metres. The company entered into a definitive agreement with BW Energy Limited, for a 20% working interest in Petroleum Exploration Licence 073, including a US$22 million (US$16 million) equity…

28 Nov

ANIREP takes over HopSol Africa

Observer Money

CHAMWE KAIRA The board of directors of Alpha Namibia Industries Renewable Power Limited (ANIREP) have announced that the company has entered into an agreement to acquire an additional equity stake in HopSol Africa (Proprietary) Limited, increasing its ownership in the entity to 100%. HopSol Africa, a leading Engineering, Procurement, and Construction (EPC) company specialising in renewable energy projects, has been a pivotal partner in advancing ANIREP’s vertically integrated renewable energy strategy. The company said this acquisition underscores ANIREP’s commitment to strengthening its position in Namibia’s renewable energy sector and enhancing its operational capacity to deliver sustainable and innovative energy solutions.…

28 Nov

Sulphuric acid storage plans ready for review

Observer Money

CHAMWE KAIRA The draft Environmental Impact Assessment (EIA) Scoping Report and the Environmental Management Plan (EMP) for the Cooperative Bulk Handling Terminal (Pty) Ltd (CBHT), in the port of Walvis Bay has been finalised and is ready for the public review, documents have shown. CBHT will offer services to Bannerman Resource’s Etango uranium project. The project includes a proposed sulphuric acid storage and handling facilities in the Port of Walvis Bay. The Etango uranium project is located on the Mining Licence 250 (ML 250), which was granted by the Ministry of Mines and Energy on 14 December 2023. The Etango…

28 Nov

Oceana’s horse mackerel catch drop

Observer Money

CHAMWE KAIRA The Oceana Group has said in results for the year ended 30 September that horse mackerel operating costs in Namibia increased by 18.3% due to the combination of lower catch rates, down 13.7%, increased fuel costs from the use of more expensive intermediate fuel oil and higher quota usage fees. The total sales volumes of horse mackerel decreased by 14.6% to 38 711 tons in 2023, from 45 327 tons previously. According to Oceana, there was a sustained firm consumer demand for horse mackerel, with average Rand prices slightly easing from the high level of the previous year.…

28 Nov

Walvis Bay to acquire extra handling equipment

Observer Money

Namport recently finalized the transfer of container handling operations at the new container terminal in the Walvis Bay harbour to Terminal Investment Namibia (TiN). The terminal, which boasts an annual throughput capacity of 750,000 Twenty-Foot Equivalent Units (TEUs), is now managed under a 25-year concession agreement. Observer Money sat down with Namport to discuss the implications of this deal with TiN and the competitive pressures posed by emerging railway and port projects across the SADC region. Observer Money (OM): We have seen new railway and port projects in SADC-Malawi-Mozambique, Malawi, Mozambique, Zambia, DRC, Angola-Zambia and Botswana, Zimbabwe and Mozambique and…

28 Nov

Safeguard yourself against festive season risks

Observer Money

JOHANNES HESEKIEL The holiday season is a time of joy and togetherness, often spent in the company of close family and friends. However, this period also sees an increase in certain risks, such as theft and car accidents. To protect yourself, your loved ones, and your belongings, it is essential to keep proactive measures and stay vigilant during this vulnerable time. How to Avoid Theft Incidents of theft and burglary are more likely to increase during the holidays. This is because many people go on holidays, making it easier for criminals to target their vacant houses. Here are some tips…

28 Nov

Eskom gets stable rating

Observer Money

CHAMWE KAIRA S&P Global Ratings has revised Eskom Holdings SOC Ltd.'s outlook from 'B' foreign and local currency long-term ratings to positive from stable. The company affirmed its 'B' issue ratings on the group's senior secured and senior unsecured debt and its 'BB-' foreign currency issue ratings on the government-guaranteed debt. S&P Global Ratings has raised its long-term South Africa national scale credit rating to 'zaBBB+' from 'zaBBB' and affirmed its short-term national scale rating of 'zaA-2'. Currently, Namibia imports most of its electricity from South Africa and other countries in the region. A special arrangement between NamPower and Eskom,…

28 Nov

Festive season to boost hospitality sector

National News

The festive season promises a significant boost to Namibia’s hospitality sector, with domestic and SADC visitors expected to drive demand, particularly in the northern and coastal regions, which remain key holiday destinations. This anticipated surge presents an opportunity to enhance economic performance through targeted promotional campaigns and service improvements in these high-traffic areas. NWR ’s initiatives, such as the Namleisure card and upcoming Black Friday specials, are well-aligned with the need to foster domestic and regional tourism. By addressing affordability and accessibility, these efforts are likely to stimulate greater interest in exploring Namibia’s diverse landscapes and cultural offerings. South African…

28 Nov

Namibians Vote

National News

27 Nov

Growing calls to end child marriage

Featured

Moses Magadza, Sylvia Obaga and Sally Ncube As the 16 days of activism against gender-based violence gather momentum shortly after the International Day for the Elimination of Violence Against Women and Girls, Faiza Mohamed, director of the Africa Office at Equality Now, has highlighted the continuing crisis of child marriage in Southern Africa. In a statement, Mohamed said with nearly one-third of women aged 20 to 24 in Eastern and Southern Africa married before the age of 18, the need for urgent action has never been clearer than now. She noted that roughly 50 million women in the region were…