Observer Money

Chamwe Kaira Alpha Namibia Industries Renewable Power Limited (Anirep) says its renewable energy portfolio is on track to grow to over 190 MWp of clean, diversified energy capacity.  The company made the announcement in its latest financial results for the year ended February 28, following the successful launch of the Khan Moses Mague/Garoëb 25 MW solar PV plant. The growth outlook is supported by Anirep's recent acquisition of a 45% stake in the 50 MWp CERIM Wind Project and the development of the 100 MWp Kokerboom project. Total group revenue for the year grew to N$177.2 million, up from N$89.2…

Chamwe Kaira Namibia's international reserves dropped to N$57.4 billion at the end of May, a 9.8% decline from the previous month, according to the Bank of Namibia (BoN). The decline was driven by net outflows from commercial banks, customer foreign currency (CFC) withdrawals, and revaluation losses caused by the strengthening of the Namibian dollar against major currencies. The current level of reserves translates into 3.7 months of import cover. Excluding oil exploration and appraisal activities, the import cover stood at 4.6 months. Commercial banks’ cash holdings fell to N$8.5 billion in May from N$9.9 billion in April, due to net…

The Swakopmund Municipality has announced plans to upgrade the town’s aerodrome. This week, Observer Money asked the municipality’s public relations officer, Linda Mupupa, about the reasons behind the planned upgrade. Observer Money (OM): What has led to this proposed upgrade?  Linda Mupupa (LM): Council called for a feasibility study in 2023 to be conducted on the aerodrome. The purpose of the study was to develop a framework that will guide the council in enhancing the operations and overall functionality of the Swakopmund Aerodrome, in alignment with the council’s long-term vision. The ultimate goal is to position the aerodrome as a…

Namibia’s mining sector continues to register strong gains in 2025, with uranium and gold emerging as key pillars of economic growth and resilience. Namibia’s uranium industry stands out as a top performer, recording a 59% year-on-year increase in production as of April 2025. Supported by rising global demand for clean and reliable energy sources, uranium has become the country’s most valuable export, contributing N$2.86 billion (26%) of Namibia’s total exports for April. Namibia is cementing its reputation as a strategic supplier of uranium to the world, especially as nuclear energy gains renewed momentum in global energy transition efforts. The strong…

Chamwe Kaira Oryx Properties Limited has officially acquired Safari Investments Namibia (Proprietary) Limited, following the fulfilment of all conditions in the sale agreement.  The transaction became effective on 30 June, with the transfer of shares completed on the same day. Safari Investments RSA Limited confirmed that all conditions precedent to the sale of 100% of the issued share capital and claims in Safari Investments Namibia had been met.  The sale agreement was first announced on 28 March. Oryx informed its unitholders that the acquisition was successfully concluded and that “caution is no longer required to be exercised when dealing in…

Chamwe Kaira Namibia exported petroleum jelly valued at N$3,100 to Greece and the Cayman Islands in May.  In contrast, the country imported petroleum jelly worth N$4.9 million during the same month, mainly from South Africa. Between May 2024 and May 2025, the average monthly import value of petroleum jelly stood at N$3.7 million.  The highest import value was N$5.9 million in July 2024, while the lowest was N$1.1 million in April 2025. In terms of trade under the African Continental Free Trade Area (AfCFTA), Namibia exported goods worth N$5.3 billion to African countries and imported goods valued at N$5.7 billion,…

Chamwe Kaira Bannerman Energy Ltd is awaiting the finalisation of key agreements with NamWater and NamPower for its Etango uranium project.  The company said the last step in the commercial water supply process is the execution of a binding agreement with NamWater. Bannerman expects to sign the draft agreement with NamWater after making a positive final investment decision on Etango. In October 2024, Bannerman signed a letter of intent with NamWater, securing a 15-year water supply. NamWater also signed a back-to-back letter of intent with the Erongo Desalination Plant operator to ensure the source supply. On electricity, Bannerman has accepted…

Chamwe Kaira Paladin Energy Ltd has appointed Michele Buchignani as an independent non-executive director.  The Johannesburg Stock Exchange (JSE) recently made the announcement. Paladin owns the Langer Heinrich mine in the Erongo region. Buchignani, based in Vancouver, brings extensive experience in law, finance, private equity, executive compensation, and risk management.  She has held senior roles at CIBC World Markets, Ontario Teachers’ Pension Plan, and law firms in Canada and Australia. She has served on various boards and advisory panels for public, private, and non-profit organisations.  These include TSX-listed Copper Mountain Mining Corporation, TSX Trust Company, and Nasdaq-listed Westport Fuel Systems.…

Chamwe Kaira Andrada Mining Limited has raised N$120 million to support the expansion of its operations at Uis in the Erongo Region.  The company closed its previously announced subscription and share placing, securing a total of £5 million (approximately N$120 million). Of this amount, £4.5 million (approximately N$108 million) came through an equity subscription involving 150 million ordinary shares taken up by Talent10 Resources Proprietary Limited.  Talent10 now holds 8.16% of Andrada’s enlarged issued share capital. The remaining £0.5 million (approximately N$12 million) was raised by placing 16 million shares with institutional and professional investors.  The bookrunner for the placement…

Jacques Taylor  Doing business in Africa is challenging for any company in any industry sector, but with 40 years of experience in the field, TATA has established itself as a company that is both commercially successful and relevant to the diverse demographic and geographical communities in which it operates across the continent. During the period of its operations in Africa, TATA has observed and experienced vast changes: greater economic prosperity for more Africans, the evolution of the African Union, the establishment of a pan-African parliament and the push for a single currency, the forging of closer regional trade ties including…