Observer Money – Page 24

23 Oct

Nuclear science and technology conference aims to unlock development potential

info_e12wt4csEnergy, Observer MoneyAfrican nuclear landscape, International Atomic Energy Agency (IAEA)

Niël Terblanché Namibia aims to position itself as a key player in the African nuclear landscape while exploring the potential of the latest technology to find sustainable solutions to the country’s energy needs to support industrial growth and environmental sustainability The Second Nuclear Science and Technology Conference commenced in Swakopmund on Wednesday and brought together experts, policymakers, and international stakeholders to discuss the role of nuclear science in Namibia’s development. The event has attracted international experts from the International Atomic Energy Agency (IAEA) and various African nations. The conference, themed “Unlocking the Potential of Nuclear Science and Technology for Namibia’s…

22 Oct

Swakop Uranium injected N$7.9 billion in local procurement

info_e12wt4csObserver MoneyLeading in Mining Excellence

Martin Endjala The Swakop Uranium has contributed N$7.9 billion to the local economy through procurement, taxes, royalties, and social development. The company released its 2023 sustainability report in Windhoek on Monday. The report was launched under the theme “Leading in Mining Excellence.”. In a speech delivered on her behalf by international relations deputy minister, Jennely Matundu, mines and energy deputy minister, Kornelia Shilunga said Swakop Uranium is poised to become a global leader in the supply of uranium because. She added that she has reliable information that the Husab Mine will reach its nameplate capacity by the end of the…

22 Oct

Namibia to host 7th International Energy Conference in 2025

info_e12wt4csObserver MoneyNamibia International Energy Conference (NIEC), RichAfrica Consultancy

Niël Terblanché Namibia will host the 7th edition of the Namibia International Energy Conference (NIEC) from 23 to 25 April 2025, in Windhoek. According to a statement released on Tuesday by RichAfrica Consultancy’s chief executive officer, Selma Shimutwikeni, the event aims to solidify Namibia’s position as a regional energy hub. Themed “Leading the Way: Becoming an Energy Hub with In-Country Value,” the conference will bring together key players in the global and local energy sectors to explore opportunities for growth, investment, and sustainable development. The 2025 edition of the NIEC Organised by RichAfrica Consultancy and endorsed by the Ministry of…

20 Oct

NamPost Bank goes digital

info_e12wt4csObserver MoneyFestis Hangula, Namibia Post Limited (NamPost)

Martin Endjala The Namibia Post Limited (NamPost) last week launched a banking application (app) that will enable customers to make transactions and pay bills at their convenience. Festis Hangula, the chief executive officer of NamPost, explained that the app is designed to meet the needs of savings and transactional account holders. “For savings bank account holders, especially savings and transactional accounts, they need access to their funds to transact, pay bills and send money,” said Hangula. The postal operations have been running financial services under the savings bank for many years. He emphasised the institution's ongoing commitment to serving the…

17 Oct

Footballers welcome Kuisebmond Stadium rehabilitation initiative

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Allexer Namundjembo Soccer players and fans of the sport in Walvis Bay have welcomed the announcement by the Walvis Bay municipality to rehabilitate Kuisebmond Stadium. The municipality announced its plans in a statement on Thursday. Blue Waters soccer fan Bernard Kamatoto described the municipality's move as a life changer. Speaking to the Windhoek Observer, Kamatoto said sports lovers in Walvis Bay will have the opportunity to watch soccer and use the stadium for their sports activities. "At least we will have a chance to access the stadium after it is completed," he said. Former Brave Gladiators coach Paulus Shipanga also…

17 Oct

Access Bank coming to be big player

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CHAMWE KAIRA The Bank of Namibia has granted a provisional banking license to Access Bank, a Nigerian listed bank, with the goal of becoming a Tier 1 bank on the Namibian market. Head of the Access Bank Namibian project, Oluseun Onasoga, said in an interview that in every market that Access Bank operates in, its ambition is to be in the top five on the market. “We don’t want to play small. You have to have the required capital to ensure that you can support your strategic game plan. Our entry into Namibia is not to be a small player,”…

17 Oct

NASRIA eyes oil and gas sector

info_e12wt4csEnergy, Observer Money

CHAMWE KAIRA Namibia Special Risks Insurance Association Limited (NASRIA) is exploring possibilities of tailored products that the firm can offer to the emerging oil and gas sector following discoveries in the Orange Basin, chairman Adrianus Vugs has said. The company recently handed over a dividend of N$16 million for the 2024 financial year to its sole shareholder, the government. Vugs said that the dividend handover is a testament to the collective efforts of NASRIA’s dedicated team, the guidance of the Board, and the strategic direction provided by government. “This dividend is not just a financial transaction; it represents the culmination…

17 Oct

PPS Namibia posts strong results

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CHAMWE KAIRA In 2023, PPS Namibia said it delivered a satisfying performance, surpassing most competitors despite navigating a challenging, low-growth economy. PPS Namibia recorded an operating profit of N$49.3 million. The total net (of reinsurance) claims increased from N$73.6 million to N$83.3 million. Gross insurance premium revenue increased year over year by 9%, from N$213 million to N$233 million. The company said its members in Namibia also benefited from the favourable investment market returns in 2023. Investment returns distributed to members’ PPS Profit-Share Accounts have increased from N$4.7 million in 2022 to N$176.9 million in 2023. “We continue to adhere…

17 Oct

Banks invested N$980m in bonds

info_e12wt4csObserver MoneyBank of Namibia, Energy Agency (IEA), Johannes !Gawaxab

CHAMWE KAIRA Local banks have issued green bonds worth N$980 million in the last six years, figures presented at a Bank of Namibia green financing meeting have shown. Bank Windhoek issued the country’s first green bond in 2018 and a sustainability bond in 2021, raising N$227 million to fund renewable energy, sustainable agriculture, and biodiversity projects. In 2022, Standard Bank Namibia issued a green bond to raise N$400 million for solar and wind energy projects, while RMB Namibia, in partnership with FNB Namibia, raised N$353 million for green buildings and renewable energy initiatives. Central bank governor Johannes !Gawaxab said the…

17 Oct

Bannerman advances towards final investment decision

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CHAMWE KAIRA Bannerman Energy Ltd. executive chairman, Brandon Munro, has disclosed that the September quarter marked another period of strong progress for Bannerman as the company advanced its Etango uranium project in the Erongo Region toward a final investment decision. “Our strong balance sheet and flexible approach to project development enable us to exercise a gated approach to Etango development, with phased green lighting of various construction works in line with advancement across broader project work streams and financial capacity. The success of our recent A$85 million equity placement delivered us the ability to move into the next phase of…