Observer Money

Chamwe Kaira  The Otjikoto Mine near Otavi, in which B2Gold holds a 90% stake, produced 24 529 ounces of gold in the first quarter of 2026, exceeding expectations. According to the company’s operational and financial results released on Thursday, the higher production was mainly driven by better-than-expected ore grades.  This was partly offset by slightly lower mill throughput caused by repairs during the quarter. During the first quarter of 2026, the mine recorded a mill feed grade of 1.06 grams per tonne. Mill throughput reached 0.74 million tonnes, while gold recovery averaged 98.1%. Cash operating costs for the quarter were…

Staff Writer Standard Bank Namibia has appointed Deloitte & Touche Namibia as its new independent external auditor, replacing PricewaterhouseCoopers Namibia with effect from 29 April 2026. The appointment was announced in a notice issued by The Standard Bank of Namibia Limited in line with the JSE Limited debt and specialist securities listings requirements. According to the bank, the change follows the requirements of the Bank of Namibia’s BID-10 regulation, which requires external auditors to rotate every 10 years. The bank said the appointment also complies with JSE Limited's debt and specialist securities listings requirements. The notice was issued in Johannesburg…

Staff Writer Namibia’s offshore oil and gas sector continues to attract international interest, with the latest hydrocarbon licence map showing growing exploration activity across the country’s coastal basins and frontier areas. Data from the Ministry of Mines and Energy and the National Petroleum Corporation of Namibia (Namcor) shows existing petroleum exploration licences, production areas and blocks that are either open or under application. Several international oil companies currently hold exploration licences in Namibia.  These include Shell Exploration & Production, TotalEnergies, Chevron Namibia, ExxonMobil, Galp Energia and Rhino Resources. Other licence holders include ReconAfrica, Tower Resources, Eco Atlantic, Pancontinental Energy and…

Chamwe Kaira  Bannerman Energy and CNNC Overseas Limited (CNOL) have signed an agreement to advance the Etango uranium project, securing both funding and long-term uranium offtake for the development. Under the agreement, CNOL will receive a life-of-mine entitlement to 60% of Etango’s yellowcake uranium production, while Bannerman will independently market the remaining 40%. The uranium supplied to CNOL will be priced using a combination of spot and term uranium price indices. The companies said the agreed payment and delivery terms are expected to improve working capital efficiency and support project value. The Etango project is one of Namibia’s major uranium…

Staff Writer  FNB Namibia expects the Bank of Namibia (BoN) to keep the repo rate mostly unchanged in 2026 as inflation risks, weak economic growth and exchange rate volatility continue to pressure the economy. FNB Namibia market research manager, Mandisa Van Wyk, said the need to protect the currency peg and maintain adequate import cover limits the room for interest rate cuts, despite support for reserves from mining inflows. “The need to safeguard the currency peg and maintain adequate import cover limits scope for easing, despite temporary support to reserves from mining-related inflows. Monetary policy is therefore likely to remain…

Johannes Nghishidimbwa We are living in a defining moment, one that demands more from our generation than ever before. Ours is not just a generation of ambition; it is a generation that must be intentional about winning, not by chance, but by design. Consider a young professional, just a few years out of college, balancing rising rent payments, student loans, and a desire to build a life of meaning and security.  With every pay cheque quickly spoken for, the pressure to get ahead feels constant, and the risk of falling behind is real. These challenges are not unique; they are…

Chamwe Kaira  The recent monetary stance by the Bank of Namibia (BoN) appears to have eased borrowing conditions, providing relief and supporting demand, particularly for long‐term and secured credit, which has been gaining traction since the previous rate reduction in December last year, FNB Namibia economist Cheryl Emvula has said. On 29 April, the Bank of Namibia (BoN) decided to keep the repo rate unchanged at 6.50%, maintaining the 25-basis-point difference with South Africa.  The central bank said the decision was influenced by weak economic activity, slow private sector credit growth, inflation risks and the recent strengthening of the rand.…

Chamwe Kaira  The Ministry of Environment, Forestry and Tourism has announced the 2026 hunting season for game animals and game birds in Namibia, with some hunting activities allowed until the end of August. The hunting season was published in the government gazette dated 30 April.  The notice was signed by environment, forestry and tourism minister Indileni Daniel. Namibia earns about N$400 million every year from professional hunting, according to government statistics. The ministry said communal conservancies earned N$292.5 million from hunting activities between 2013 and 2024.  During the same period, joint-venture tourism activities generated N$166.3 million. The notice sets out…

Staff Writer  Simonis Storm Securities has maintained a hold recommendation on Paratus Namibia Holdings after the company reported strong revenue growth but weaker profits in its interim results for the six months ended 31 December 2025. Paratus reported revenue of N$381.3 million during the period, up 16.5% from N$327.3 million recorded a year earlier. Underlying operational revenue growth, excluding dividend income from the previous period, stood at 23.4%. Despite the increase in revenue, the company recorded a total comprehensive loss of N$36.3 million compared to income of N$26.5 million in the same period last year. No interim dividend was declared.…

Staff Writer  The Chamber of Mines of Namibia says major mining projects continued to progress in 2025, strengthening expectations that the sector will remain one of Namibia’s main economic drivers in the coming years. The chamber said Namibia’s medium-term mining outlook remains supported by a strong pipeline of uranium, gold, copper and critical mineral projects. However, it warned that rising policy uncertainty is starting to affect investor confidence. One of the largest projects advancing is the Tumas Uranium Project, being developed by Deep Yellow. The project moved closer to a final investment decision as financing discussions with Nedbank continued. Nedbank…