Observer Money – Page 24 – Windhoek Observer

05 Sep

Shareholding changes at Deep Yellow

ObserverObserver MoneyJohn Borshoff, Tumas project, Vanguard Group of Australia

CHAMWE KAIRA The Vanguard Group of Australia has become a substantial shareholder in Deep Yellow the company that is developing the Tumas project in the Erongo Region after it acquired 48 million shares with a voting right of 5.003%. The development was confirmed by Deep Yellow Managing Director and CEO, John Borshoff. Vanguard Group is the manager of various Mutual funds and accounts and in that capacity has the power to dispose of the shares. Deep Yellow is progressing its dual-pillar strategy to establish a multi-mine company with capacity to produce 10 million pounds of uranium per annum. The company…

05 Sep

Short-term insurance shields small business owners

ObserverObserver MoneySmall business owners

JOHANNES HESEKIEL Small companies experience various challenges in the constantly evolving business landscape of the present day. There are numerous uncertainties that arise during the journey, ranging from managing daily tasks to navigating the intricacies of market demands. Small business owners are most concerned about unforeseen incidents that could interrupt their operations and put their assets at risk. Short-term insurance serves as a safeguard, protecting assets and ensuring business operations continue smoothly. Short-term insurance, also known as general insurance, shields businesses from possible financial losses. Temporary insurance plans usually last for a specific period, usually up to a year, and…

01 Sep

NBL exits O&L Group retirement fund

ObserverObserver Money

Martin Endjala The Namibia Breweries Limited (NBL) will exit the Ohlthaver and List (O&L) Group as of 1 October. This was announced last week by O&L in a notice to the employees of NBL. “We wish to inform you that NBL will exit the O&L retirement fund as of 1 October. As such, all NBL employees will no longer form part of the fund as from this date,” read the notice. NBL is no longer part of the O&L Group of companies following its acquisition by Heineken International in a transition that was approved in April 2023. The group said…

29 Aug

Letshego’s operating profit increase to N$219m

ObserverObserver MoneyLetshego Holdings (Namibia) Limited

CHAMWE KAIRA Letshego Holdings (Namibia) Limited has said in interim results for the year ended 30 June, that operating profit increased by 18% to N$219 million compared to N$186 million in the year ended June 2023. Profit after tax increased by 16.3% to N$199 million compared to N$171 million in the same period last year. The group said Letshego Bank (Namibia) Limited capital adequacy ratio improved by 3% to 35%. Letshego's said strong business fundamentals, coupled with significant advancements in governance and sustainability frameworks, positioned the company to capitalize on the benefits and potential generated by the initial phases of…

29 Aug

Osino to delist from NSX

ObserverObserver MoneyNamibian Competition Commission, Shanjin International Gold Co. Ltd

CHAMWE KAIRA Osino Resources has announced that it will delist from the Namibia Stock Exchange. The company told shareholders that further to the transaction finalization notice distributed to shareholders on 19 August, notice was being given hereby given that the trading of the Osino Resources Corp shares will be suspended on 26 August 2024 and delisted from the Namibian Stock Exchange on 30 August. Osino has already announced that Shanjin International Gold Co., Ltd. (formerly known as Yintai Gold Co., Ltd will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share.…

29 Aug

Uranium market resurgence unfolding

ObserverEnergy, Observer MoneyBannerman Energy Ltd, Etango Project

CHAMWE KAIRA Bannerman Energy Ltd, which is developing the Etango project in the Erongo has said persistent cumulative supply gap now stands at approximately 150 million pounds of uranium oxide. Namibia stands to gain from increase in demand for uranium is it is one of the world’s largest producers of uranium. Bannerman said in a presentation to investors that Emerging Small Modular Reactor (SMR) technology is driving further new demand additions. The company added that the industry has lost a decade of uranium exploration and project development post Fukushima. The other factors that are driving demand for uranium include the…

29 Aug

ANIREP expecting changes to its operations

ObserverObserver MoneyAlpha Namibia Industries Renewable Power Limited, Namibian Stock Exchange

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) has extended its cautionary announcement it first issued on 16 August 2021, advising shareholders that negotiations are still in progress, which if successfully concluded, may have a material effect on the price of the company’s shares. “Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s shares until a further announcement is made,” it said on the Namibian Stock Exchange. The core annuity revenue for ANIREP is derived from the IPP sale of electricity and operations and maintenance services, both consistently generating cash in accordance with the nature…

29 Aug

Capricorn expecting higher profits

ObserverObserver MoneyCapricorn Group

CHAMWE KAIRA Capricorn Group’s expects profit after tax and earnings per share for the year ended 30 June to be materially higher by between 15% and 20% compared to what was reported in the prior period. Additionally, headline earnings per share for the year ended 30 June 2024 is expected to be materially higher than what was reported in the prior period by between 13% and 18%, the group said. Capricorn added that during the year ended 30 June, Capricorn Group implemented IFRS 17 – "Insurance Contracts", which requires full retrospective application for disclosure purposes. FRS 17 is an International…

29 Aug

FirstRand Namibia earnings to increase by 7% to 12%

ObserverObserver Money

CHAMWE KAIRA Firstrand Namibia Limited has said group's earnings and headline earnings for the year ended 30 June 2024 will be significantly higher than prior year by between 7% to 12%. “The main drivers of the increase in headline earnings are customer growth, credit extended during the period and higher transaction volumes. The group’s audited financial results will be released on or about 12 September,” the company said. In the 2023 annual report, the FirstRand Namibia group said it has made substantial strides towards delivering on its strategic targets and growing the business. The results showed a net profit after…

29 Aug

Langer Heinrich rakes in US$24.8m

ObserverObserver MoneyLanger Heinrich Mine

CHAMWE KAIRA The Langer Heinrich Mine raked in US$24.8 million in July with the first customer shipment, containing 319 229 pounds of uranium oxide that departed Walvis Bay, Namibia in July. The mine had been under care of maintenance for a number of years. The shipment came with a partial advance payment under the terms of the customer offtake agreement. Paladin Energy of Australia, which is the major shareholder, said the restart project was completed on time and within cost forecast, with total project expenditure of US$119.7 million. Paladin successfully achieved the commercial production targets set for the 2024 financial…