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Chamwe Kaira Reconnaissance Energy Africa Ltd (ReconAfrica) has increased the size of its fundraising to C$32 million after strong investor interest. The Canadian-listed oil and gas company plans to sell about 33.7 million new units at C$0.95 each.  The funds will be used mainly to advance work on its oil discovery in Namibia, prepare further drilling, and push ahead with exploration activities in Angola and offshore Gabon. The fundraising is being led by Research Capital Corporation, together with Canaccord Genuity and Haywood Securities.  Members of ReconAfrica’s management and board will also invest in the offering. Each unit consists of one…

Chamwe Kaira Local electricity generation in Namibia increased on a year-on-year basis during the third quarter of 2025, supported by improved water availability at the Ruacana hydropower plant, according to the latest economic data. Local electricity generation rose by 19.4% compared with the same period last year.  Higher domestic output helped reduce reliance on imports, with electricity imports declining by 2.2% year-on-year over the quarter. Despite higher generation, electricity consumption fell. Units of electricity consumed declined by 3.2% year-on-year in the third quarter of 2025.  The drop was linked to lower activity in several commercial subsectors, including mining, reflecting slower…

Chamwe Kaira Namibia recorded net outflows of international remittances during the third quarter of 2025, pointing to a continued gap between remittance inflows and outflows, according to official data. Net remittances declined by N$262 million on an annual basis and by N$156 million quarter-on-quarter.  This resulted in a net remittance outflow of N$151 million during the period. The weaker position was driven by a sharp rise in remittance outflows.  Outflows increased by N$458 million year-on-year and by N$153 million on a quarterly basis, reaching N$800 million. The increase was mainly linked to higher personal transfers, particularly personal remittances, and increased…

Chamwe Kaira Namibia’s grey listing has had no material impact on the economy, supported by stable macroeconomic conditions and feedback from financial sector stakeholders, according to the Bank of Namibia (BoN). Authorities and market participants say the designation has not disrupted financial flows.  Commercial banks reported no major challenges, while international institutions, including the International Monetary Fund (IMF), indicated the greylisting was unlikely to place significant pressure on the economy. At the time of the grey listing, Namibia’s macroeconomic position remained steady, helping to cushion potential effects.  Similar conclusions were reached by Arysteq Asset Management, which found no significant changes…

Pepkor has lashed out at Lewis’s attempt to block its bid to buy the furniture business of retail major Shoprite, warning the Constitutional Court that such a move would have a chilling effect on domestic and offshore investors in South Africa. For its part, Lewis, which is seeking to set aside a Competition Appeal Court ruling that blocked its attempt to use competition law to stop the deal, argues that the transaction will harm consumers. In April, the competition commission recommended the deal to the competition tribunal on condition that jobs would not be lost and the merged business would…

Staff Writer Curro shareholders will receive cash payments for fractional share entitlements arising from the scheme of arrangement linked to the company’s acquisition by the Jannie Mouton Stigting and Curro’s subsequent delisting from the Johannesburg Stock Exchange (JSE). The transaction, previously announced on SENS, resulted in Curro shareholders becoming entitled to shares in Capitec Bank Holdings Limited and PSG Financial Services Limited as consideration.  Where these entitlements resulted in fractional Capitec or PSG Financial Services shares, the fractions were rounded down to the nearest whole share, with the remaining portion settled in cash. In line with JSE Listings Requirements and…

Staff Writer Mukuru has partnered with Travelex to expand cash payout options for remittance customers across South Africa. The partnership adds Travelex as an extra payout channel within the Mukuru network. Customers can now collect cash at Travelex’s 46 branches nationwide, located in high-traffic and accessible areas.  The wider network reduces travel time and improves access to cash. The collaboration operates within South Africa’s Bureau de Change framework, which provides a regulated environment for secure payouts.  Travelex operates under liquidity and compliance standards, with on-site know-your-customer processes in place to support secure transactions. “Mukuru has always focused on creating impactful…