Observer Money

CHAMWE KAIRA Andrada Mining Limited, the technology metals mining company, increased its revenue by 34.4% to £30.1 million (N$658 million) for the financial year ended 28 February 2026, from £22.4 million (N$490 million) in the previous financial year. The company reported total consolidated net assets of £88.2 million at the end of February 2026, up from £69.6 million a year earlier. Despite the increase in revenue and net assets, Andrada recorded a total comprehensive loss of £8.29 million for the year, compared with a loss of £8.42 million in the 2025 financial year. The company's basic loss per share increased…

CHAMWE KAIRA  Paladin Energy, which owns the Langer Heinrich Mine (LHM) in Namibia’s Erongo Region, says the global uranium market is being supported by a favourable long-term supply-demand outlook as governments and industries increasingly recognise the role of nuclear energy in securing reliable, low-carbon electricity. The uranium producer said market fundamentals continue to strengthen as governments, utilities and large industrial and technology companies seek to improve energy security, meet rising electricity demand and achieve decarbonisation targets. Paladin said global uranium demand is underpinned by the existing and expanding nuclear reactor fleet, with approximately 440 reactors currently operating worldwide, nearly 80…

CHAMWE KAIRA The government is working with key stakeholders, including workers, to find a responsible solution to restart the Scorpion Zinc mine and refinery operation at Rosh Pinah, mines and energy minister Modestus Amutse has said. Speaking at the Mineworkers’ Union of Namibia (MUN) southern regional roundtable in Oranjemund, Amutse said stakeholders could not ignore the difficult realities faced by families following the closure of Scorpion Zinc in 2024, which resulted in the loss of around 500 jobs. His speech was delivered on his behalf by Justina Jonas, member of parliament.  Many households in Rosh Pinah continue to feel the…

Staff Writer  Instant Payments Namibia (IPN) has launched its official website as part of efforts to improve public awareness and stakeholder engagement around Namibia’s national instant payments programme. The website, www.ipn.com.na, will serve as a central source of information on the development of the country’s instant payments ecosystem, including the Namibia Instant Payment Solution (IPS) and its consumer-facing brand, WayaMe. IPN chief operating officer, Marsorry Ickua said the platform is intended to provide Namibians, participating financial institutions, businesses, the media and other stakeholders with accessible information on the programme and its development. IPN is a subsidiary of the Bank of…

Staff Writer  Letshego Holdings Namibia Limited has declared an interim dividend of 50.70 cents per ordinary share for the six-month period ended 30 June 2026. The dividend follows the publication of the company’s reviewed unaudited interim results for the period on 18 August 2026. According to a notice issued by Letshego Holdings Namibia, shareholders will need to hold the shares before the ex-dividend date to qualify for the distribution. The last day to trade cum dividend is Friday, 11 September 2026, while the shares will trade ex-dividend from Monday, 14 September 2026. The last date to register for the dividend…

Staff Writer  Namibia Securities Exchange (NSX)’s overall share index rose 2.06% over the week to 2,476.51 points, marking a 15.65% increase since December 2025, according to market data for the period 24 to 28 August. The index closed at 2,476.51 points, up from 2,426.60 points on the previous day, representing a gain of 49.91 points. The local index recorded a more modest increase of 0.13% to 852.60 points, up 5.55% from its December 2025 level of 807.75 points. Among the major sectors, Basic Materials recorded the strongest gain, rising 4.96% to 958.60 points. The sector has increased 33.98% since December…

CHAMWE KAIRA Deep Yellow has said that construction mobilisation at its Tumas uranium project in the Erongo region is expected to commence in August, with the civil and concrete works to be delivered sequentially. The company has already awarded two contracts worth a combined estimated N$389 million for civil and concrete works at the project as the company advances towards a Final Investment Decision (FID) expected in the fourth quarter of this year.  Following a competitive tender process, Namibia Construction Pty Ltd was awarded the first contract, valued at approximately N$212 million. The contract covers reinforced concrete construction within the…

Staff Writer  Old Mutual Namibia’s rewards redemptions now exceed N$5 million in value. The company announced this week that clients can now invest their Old Mutual Rewards points into their Unit Trust investments.  “This innovative enhancement enables members to convert everyday choices into long-term financial growth,” said Logan Fransman, group chief operating officer.  The new benefit allows Old Mutual Rewards members to transfer their rewards points into one of Old Mutual Namibia’s Unit Trust funds, providing a simple and convenient way to build wealth over time, the company said.  “We’re constantly looking for ways to connect financial wellness with our…

Staff Writer  Strong gold prices continue to provide a favourable operating environment for Namibia’s gold producers in July. This comes at a time when the Bank of Namibia’s domestic gold acquisition initiative further enhances the strategic importance of locally produced gold to the national economy and reserve management framework, according to the Chamber of Mines of Namibia.  The central bank has developed a structured gold acquisition framework, informed by international best practice and engagements with peer central banks, as part of efforts to strengthen and diversify the country’s official reserve assets. As at 3 August 2026, the Bank had acquired…

CHAMWE KAIRA Paladin Energy Ltd reported a significant improvement in its financial performance for the year ended 30 June 2026, supported by higher uranium production and sales from its 75%-owned Langer Heinrich Mine in Namibia. Paladin said in its 2026 Annual Report, that it recorded a net loss after tax of US$9.1 million (N$145m) for 2026 financial year, compared with a loss of US$76.5 million in 2025. Paladin said the improvement reflected the successful ramp-up of the Langer Heinrich Mine (LHM), which produced 4.82 million pounds of uranium oxide (U₃O₈) during the financial year, at the upper end of its…