Observer Money

Construction sector operating in the dark without Labour Force data

Construction sector operating in the dark without Labour Force data

Martin Endjala The Construction Industries Federation of Namibia (CIF) has called on the government to release the Labour Force Survey from the 2023 Population and Housing Census. The industry cited the lack of data, which is hampering effective planning and recovery for the struggling construction sector. Despite conducting a national census in 2023, Bärbel Kirchner, the chief executive officer of CIF, said the sector continues to function without any current employment data. “Our industry needs to understand the extent of job losses and identify where we can retrain and reskill to meet the demands of recovery and support growth in…
Read More
Langer Heinrich revises production estimates

Langer Heinrich revises production estimates

CHAMWE KAIRA Paladin Energy has revised its 2025 production guidance at Langer Heinrich Mine to 3 to 3.6 million pounds (previously 4 to 4.5 million pounds). The company said the revision was as a result of the lower-than-expected production results for October and ongoing challenges and operational variability experienced to date in ramping up production at the Langer Heinrich Mine. Paladin noted that the increased range of potential production outcomes will have a material impact on the company’s unit operating costs and the realised price for uranium sales and forecast capital expenditure will be reassessed given the LHM operational performance…
Read More
Lower petrol prices to stabilise inflation

Lower petrol prices to stabilise inflation

CHAMWE KAIRA Namibia’s inflation rate is expected to remain relatively stable, bolstered by the Ministry of Mines and Energy’s recent decision to maintain fuel prices through November, Simonis Storm has observed. Petrol will remain at N$20.25 per litre, while diesel 50ppm and 10ppm are set at N$19.72 and N$19.82 per litre, respectively. “By holding fuel prices steady, the ministry aims to curb inflationary pressures, particularly within the transport sector—a significant inflation driver earlier in the year. This stabilisation of fuel costs contributes to a more predictable inflationary environment, yet several underlying risks persist,” Simonis said. Despite the positive impact of…
Read More
Otjikoto glittering than expected

Otjikoto glittering than expected

CHAMWE KAIRA B2Gold has said the Otjikoto Mine, in which the company holds a 90% interest, has continued to outperform during the third quarter of this year, producing 52 131 ounces of gold. The production was above expectations and this was as a result of higher than anticipated mill feed grade and higher than expected mill throughput. For the third quarter, mill feed grade was 1.88 grams per tonne, mill throughput was 0.87 million per tonne, and gold recovery averaged 98.8%. Ore production from the Wolfshag underground mine for the third quarter of 2024 averaged over 1 800 tonnes per…
Read More
ANIREP to appoint new directors

ANIREP to appoint new directors

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) is expected to approve new board members during the Annual General Meeting (AGM) of its shareholders that will be held on 29 November. The meeting is also expected to resolve that no dividend is declared for the year ended 29 February, according to a notice on the Namibian Stock Exchange. The meeting is expected to accept the retirements of Sphiwe Mayinga, non-executive director, James Nyandoro as executive director and Denis Maxiwell as a member of the investment committee. The meeting is also expected to re-appoint Dr. Mac Hengari and Ambassador Philemon…
Read More
Debt issuance total N$2.2 billion

Debt issuance total N$2.2 billion

In October, Namibia experienced its highest issuance of government debt securities for any month of the 2024/25 financial year thus far, totalling N$2.2 billion, according to the Bank of Namibia’s updated borrowing plan. However, despite this significant issuance, the country’s total government debt saw a net increase of only N$956 million, largely due to the redemption of the GC24 bond. The month-on month growth in government debt was 0.8% This was lower than the 1.73% increase recorded in September, despite the conduct of three bond auctions and five treasury bill auctions, which is more than typical for a month. By…
Read More
Trustco is ‘coming to America’

Trustco is ‘coming to America’

CHAMWE KAIRA Trustco is in the process of completing the US regulatory requirements to list on the Nasdaq Stock Market, the company announced. Both the JSE and NSX have been notified of the company’s intention to move the primary listing to a direct listing on Nasdaq, in terms of their relevant listing requirements. “The company intends to maintain secondary listings on the JSE and NSX. No action is required from shareholders at this time. Trustco has been publicly trading on the NSX for 18 years, and on the JSE for 15 years,” the company said. In terms of Section 18.26…
Read More
Multichoice trading profit down to N$7 billion

Multichoice trading profit down to N$7 billion

CHAMWE KAIRA MultiChoice has said currency depreciation reduced trading profit by close to N$7 billion over the last 18 months. The company said it delivered various positive operational outcomes through active interventions for the six-month period ended 30 September. The company said meaningful progress made on the Canal+ transaction with the merger control filing submitted to the South African Competition Commission on 30 September, and engagements with other regulatory authorities underway. The group's linear subscriber base declined by 11% or 1.8 million subscribers year to year to 14.9m active subscribers at 30 September. “While this is indicative of the extremely…
Read More
Spotlight on Indigenous people in mining communities

Spotlight on Indigenous people in mining communities

Mining Indaba, the premier platform for deal-making, investment, and corporate networking for African mining for over 30 years – has announced a 2025 agenda that emphasises the voices of indigenous people and communities in the mainstream of the conference. The new focus for next year’s event – Investing In Mining Indaba 2025 – reinforces the Mining Indaba commitment to future-proofing African communities, by foregrounding the experiences of those directly affected by mining. “The meaningful integration and collaboration with mining communities and indigenous people are essential to shaping the future of mining,” said Laura Nicholson, Head of Content & Strategic Partnerships…
Read More
CRAN engages in consumer protection efforts

CRAN engages in consumer protection efforts

The Communications Regulatory Authority of Namibia (CRAN) attended and participated at the inaugural meeting of the Communications Regulators' Association of Southern Africa (CRASA) Consumer Committee, hosted by the Independent Communications Authority of South Africa (ICASA). The gathering took place in Johannesburg, South Africa, marking a significant step towards advancing consumer protection initiatives in the Southern African Development Community (SADC) region. The consumer committee meeting was convened to initiate the implementation of the Consumer Committee Operational Plan for 2024/2025. This forum provided a platform for CRASA members to collaborate on addressing critical issues and seizing strategic opportunities related to consumer rights…
Read More