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Chamwe Kaira The Bank of Namibia (BoN) is preparing to sign agreements with local gold producers as it moves to implement its gold accumulation strategy.  BoN outgoing governor Johannes !Gawaxab revealed progress at his farewell dinner. !Gawaxab said the central bank is now ready to proceed with the long-delayed plan and admitted that he did not provide enough leadership when the strategy was introduced in 2023.  “We needed to diversify our reserves. The price of gold at that time was US$1 800 per ounce. We were so risk-averse. Now the price is US$4 400 per ounce, and by year-end it…

Chamwe Kaira Savanna Beef Processors Limited has moved the issuance of slaughter rights to mid-February 2026 as it continues its controlled operational ramp-up and waits for key export audit outcomes. The company began slaughtering 10 to 15 cattle per day on 1 October as part of a measured start-up aimed at generating processing data and training staff on the slaughter floor and deboning lines.  Savanna Beef took ownership of its abattoir on 27 October after receiving the taking-over certificate from the construction contractor, confirming the facility met all contractual requirements. From 12 to 15 November 2025, the company hosted the…

Chamwe Kaira Mobile Telecommunications Company (MTC) says the long-running complaints about data disappearing are mostly linked to how customers use their mobile devices and apps, not to incorrect billing by the company. MTC managing director Licky Erastus told Observer Money that customers have raised these concerns for years, but MTC’s investigations indicate that most cases relate to customer education.  He said the company has tools that track usage and billing.  “We can demonstrate where the usage happened. We need to do customer education,” he said. Erastus added that in all cases where MTC provided feedback, customers were satisfied. MTC's chief…

Chamwe Kaira The Chamber of Mines of Namibia has begun the search for a new chief executive officer following the retirement of long-serving CEO Veston Malango on 30 November.  Malango will remain with the organisation for at least a year to allow for a smooth handover.  He is also expected to continue serving the mining industry, possibly through roles on boards or regulatory bodies. The chamber has advertised the CEO position on a five-year renewable contract and appointed Visions Consulting to manage the recruitment process in line with its governance policies. The mining industry contributed 13.3% to GDP in 2024,…

Staff Writer  TotalEnergies has expanded its presence in Namibia’s oil sector after reaching a major agreement with Galp Energia to take over operatorship of petroleum exploration license 83 (PEL 83), the block that hosts the Mopane discovery.  The transaction gives TotalEnergies a 40% operated stake in the licence, strengthening its role in Namibia’s fast-growing deepwater basin. Under the deal announced this week, Galp will acquire a 10% interest in PEL 56, which includes the Venus discovery, and a 9.39% stake in PEL 91.  The agreement positions TotalEnergies as operator of both Venus and Mopane, the country’s two biggest oil discoveries,…

Chamwe Kaira MultiChoice Group’s time as a publicly listed company is ending after Groupe Canal+ completed a takeover process that has been unfolding throughout the year. In October 2025, Canal+ announced through the Stock Exchange News Service that it would use its legal right under section 124(1) of South Africa’s Companies Act to compulsorily acquire all remaining MultiChoice shares it did not own.  The squeeze-out marked the final step in a takeover closely watched by investors and regulators across Africa. The October notice set out the timetable for the process, stating that once the acquisition was completed, MultiChoice’s ordinary shares…

Staff Writer Hosea Kutako International Airport and Walvis Bay International Airport have been recertified after meeting national and global aviation safety standards. The Namibia Airports Company confirmed that both airports achieved an effective implementation score of 83% following a detailed assessment by the Namibia Civil Aviation Authority (NCCA). The aerodrome certificates were issued on 5 December 2025 and remain valid until 6 December 2027. The certification confirms full compliance with NAMCAR's parts 139 and 140 and the standards set by the International Civil Aviation Organisation. NAC chief executive officer Bisey /Uirab said the achievement reflects a strong commitment to aviation…

Staff Writer O&L Leisure has partnered with South African Airways to launch a tourism campaign aimed at strengthening Namibia’s position as a leading African travel destination. The initiative began with a major webinar attended by more than 100 top travel agents from nine African countries.  The session brought together key Namibian tourism players, including Gondwana Collection, Namibia Wildlife Resorts, the City of Windhoek and national tourism bodies such as the Namibia Tourism Board (NTB), TASA, the Hospitality Association of Namibia (HAN) and CARAN. O&L Leisure marketing general manager Maryke van Lill said the partnership signals a shift in how Namibia…

Staff Writer The African Development Bank (AfDB) has approved a US$159.50 million loan to the Democratic Republic of Congo to improve access to the Ngandajika Agro-Industrial Park and boost connectivity in the country’s central region. The total project cost is US$177.16 million, with the Congolese government contributing the balance.  The project to strengthen connectivity at the Ngandajika Agro-Industrial Park aims to link the park more effectively to major economic corridors in central DRC. The work will include upgrades to the Nkuadi–Ngandajika–PAIN and Lukalaba–Ngandajika roads, as well as improvements to connecting sections between National Roads 1 and 2.  The project also…