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Niël Terblanché The Government Institutions Pension Fund (GIPF) has issued an urgent public cautionary notice regarding an ongoing legal battle against Myrtle Growth Capital (Pty) Ltd. The GIPF, warning that the company has no authority to sell or dispose of shares held on behalf of the Namibia Mid Cap Fund (NMCF). According to GIPF’s marketing and stakeholders engagement general manager, Edwin Tjiramba, the litigation currently before the High Court of Namibia seeks to prevent Myrtle Growth Capital from unlawfully handling shares in various unlisted investments. “Myrtle Growth Capital is the former fund manager of the NMCF, but was deregistered as…

Niël Terblanché The National Petroleum Corporation of Namibia (NAMCOR) announced the presence of hydrocarbons in the Sagittarius-1X exploration well, drilled offshore in the Orange Basin. In a statement, issued on Monday, NAMCOR’s executive for upstream exploration, Victoria Sibeya said the Drilling operations commenced on 18 December 2024, in partnership with Rhino Resources (42.5%, operator), Azule Energy (42.5%), NAMCOR (10%), and Korres (5%). Using the Noble Venturer drillship, the well reached its final depth on 6 February. She indicated that the drilling was targeting upper cretaceous reservoirs. “The well successfully encountered a hydrocarbon-bearing formation with no observed water contact,” she said…

Allexer Namundjembo The commemorative note being issued to honour the late President Hage Geingob will neither be the first nor the last of its kind. This was said by the Bank of Namibia’s (BoN) governor, Johannes !Gawaxab on Wednesday during the monetary policy announcement. !Gawaxab reflected on past commemorative efforts, noting that for the bank's 20th anniversary, a commemorative coin featuring the founding president, Sam Nujoma, was issued.  "Over a 30-year period, we’ve only issued one coin and one banknote. The N$30 note was the second one. This isn’t something we do lightly. It is solely commemorative and will circulate,…

Niël Terblanché Namibia’s leading digital innovation company, MTC, has reaffirmed its commitment to youth empowerment with the continuation of its MTC 4Life programme. The Corporate Social Investment (CSI) initiative aims to equip young Namibians with practical business and entrepreneurial skills to establish or expand their small and medium enterprises, ultimately helping to reduce unemployment. The initiative announced on Tuesday will provide 40 young entrepreneurs with a two-week training programme in various trades, including barbering, brick manufacturing, animation, carpentry, hairstyling, electricity and solar installation, upholstery, and welding. The training will be facilitated by qualified Namibian professionals. Upon completion, participants will receive…