Observer Money

Staff Writer Andrada Mining Limited has signed a cooperation agreement with the European Investment Bank to advance the feasibility study for the Uis Lithium Expansion Project in Namibia. The agreement was concluded through Andrada’s wholly owned subsidiary, Uis Tin Mining Company (Proprietary) Limited. It will provide technical and project development support to move the lithium project to a bankable feasibility level. The support will come through the EU-funded Critical Raw Materials Technical Assistance Facility under the EU–OACPS framework. Consulting services worth up to €2 million, about N$37.9 million, will be provided as a non-dilutive grant. The agreement carries no repayment…

Nhika Vassallo and Magano Erkana Namibia, the world’s third-largest uranium producer, contributes approximately 10% of global uranium output, which is no small feat for a ‘small’ nation.  Namibia is currently able to produce about 60% of its energy demand locally while importing the shortfall from neighbouring nations. This dependency, coupled with rising energy demands, underscores the need for energy diversification. With hydropower, solar, and wind dominating its current energy mix, nuclear power offers a promising solution to achieve energy security, reduce carbon emissions, and support economic growth aligned with Namibia’s Vision 2030. Historical ambitions and policy development Namibia’s nuclear energy…

Chamwe Kaira  Passenger traffic at Namibia’s airports exceeded one million for the first time since the Covid-19 pandemic, reaching 1,055,641 in the 2024/25 financial year. According to the Namibia Airports Company Limited’s (NAC) 2024/25 Annual Report, this marks a 23% increase from the 854 808 passengers recorded in 2023/24. Flight movements rose by 8% to 46 994, compared to 43,505 in the previous year. This figure remains below the pre-pandemic peak of 60,288 movements recorded in 2019, which NAC attributes to the exit of several regional carriers. Aeronautical revenue increased to N$346.2 million in 2024/25 from N$326.2 million in 2023/24. …

Staff Writer  Kulani Energy has acquired key assets from Optipower, a former division of Murray & Roberts Limited, which is currently in business rescue. The deal was concluded at the end of January 2026 through Kulani Energy’s subsidiary, OptiProjects. The subsidiary focuses on power transmission and distribution, as well as renewable energy infrastructure. Kulani Energy is a wholly Black women-owned engineering and energy infrastructure company. The acquisition strengthens its engineering, procurement and construction capacity to support grid expansion in South Africa. The transaction was completed while Murray & Roberts was in business rescue. Kulani said this preserved skills and capability…

Staff Writer Africa holds an estimated US$29.5 trillion in mine-site mineral value, equal to about 20% of global mineral wealth, but captures only a small share of the economic value linked to these resources, according to a new study by the Africa Finance Corporation. The study shows that US$8.6 trillion of this value remains undeveloped, pointing to the continent’s under-explored status. It identifies fragmented geological data, uneven coverage and limited transparency as factors that increase risk perception and reduce investment.  The Africa Finance Corporation recommends improving the availability and quality of geological data to attract more exploration capital. The report…

South Africans are once again seeing relief at the pump, with the latest fuel price cuts delivering the cheapest petrol in roughly four years. The reductions, around 65 cents per litre for petrol and more than 50 cents for diesel, continue a downward trend that began earlier in 2026, when falling crude prices and currency strength combined to lower pump prices nationwide. While the immediate benefits are tangible – cheaper transport, easing inflationary pressure and support for businesses – the underlying drivers reveal a more fragile reality. South Africa’s fuel costs remain shaped primarily by global oil markets and exchange-rate…

Staff Writer Africa holds an estimated US$29.5 trillion in mine-site mineral value, equal to about 20% of global mineral wealth, but captures only a small share of the economic value linked to these resources, according to a new study by the Africa Finance Corporation. The study shows that US$8.6 trillion of this value remains undeveloped, pointing to the continent’s under-explored status. It identifies fragmented geological data, uneven coverage and limited transparency as factors that increase risk perception and reduce investment.  The Africa Finance Corporation recommends improving the availability and quality of geological data to attract more exploration capital. The report…

Chamwe Kaira Construction of Namibia’s first biomass power plant is progressing with the recent arrival of steam drums from China. The N$2.64 billion project is expected to be completed in the first quarter of 2027. NamPower said this week that the Otjikoto Biomass Power Station reached a major milestone with the delivery of two steam drums. The components are required for the plant’s two 20 MW boilers. The steam drums were manufactured in China and transported through Walvis Bay to Tsumeb as abnormal loads. NamPower said the delivery involved detailed planning, specialised transport and coordination over long distances. The company…

Staff Writer The Bank of Namibia (BoN) has appointed two new members to its Monetary Policy Committee (MPC) to support its mandate of setting and implementing monetary policy aimed at maintaining price stability. Dr John Steytler has been appointed as the first independent member of the committee for a three-year term. He previously served at the Bank of Namibia in senior roles, including chief economist and director of research. Steytler brings more than 30 years of experience in national and international economic policy.  He has served as chief executive officer of the Development Bank of Namibia (DBN), economic advisor to…

Chamwe Kaira Anglo American has started an impairment review of De Beers’ carrying value, citing prolonged weakness in global diamond market conditions and continued pressure on the business’s financial performance. De Beers is a 50/50 partner with the Namibian government in Debmarine, Namdeb and the Namibia Diamond Trading Company. In a preliminary update for the second half of the 2025 financial year, Anglo American said underlying EBITDA from De Beers is expected to be negative for the full year. The group said this is due to difficult rough diamond trading conditions and lower realised prices. “As a result, the impairment…