Observer Money

Choppies revenue reach N$805m
26 Sep

Choppies revenue reach N$805m

info_e12wt4csFeatured, Observer Money
CHAMWE KAIRA Choppies Supermarkets Namibia (Pty) Limited recorded revenue of Botswana Pula (BWP) 613 million (N$805 million) in the financial year ended 30 June 2024, the company announced. The company is a retailer of fast-moving consumer goods, operating shops around Namibia, Botswana, Zambia and Zimbabwe. Retail sales totaled BWP 612 million, while gross profit totaled BWP 100 million, according to Choppies. In Namibia, the company has assets worth BWP 271 million and liabilities worth BWP 220 million. The company disclosed that Choppies Enterprises Limited has issued guarantees for Choppies Supermarkets Namibia (Pty) Limited valued at BWP 36 million. Choppies Enterprises…
Read More
Capricorn bosses benefit from shares
26 Sep

Capricorn bosses benefit from shares

info_e12wt4csObserver Money
CHAMWE KAIRA The Capricorn Group has announced several dealings in securities by several of its directors in a statement issued on the Namibian Stock Exchange (NSX). The announcement marked the culmination of a two-year journey for the directors, as their share awards under the conditional share plan finally vested. According to the NSX notice, Marthinus Johannes Prinsloo, a director of Capricorn Group Limited, exercised his vested shares awarded under the conditional share plan. On 2 September 2022, he had been granted 48 967 shares. Now, with the passing of two years, those shares were ready to be exercised. With the…
Read More
‘Laughing and crying eyes’……Osino founder sheds light on selling the company
26 Sep

‘Laughing and crying eyes’……Osino founder sheds light on selling the company

info_e12wt4csObserver Money
CHAMWE KAIRA Outgoing President and CEO of Osino Resources, Heye Daun has said as a small exploration company with no income, the company was dependent on shareholder funding and equity that came from investors. The company’s flagship is the Twin Hills Gold Project in the Erongo Region. Daun became an entrepreneur in 2010, when he acquired the Otjikoto project. This led to being introduced to Canadian capital markets. He raised money on the Canadian markets and later sold the Otjikoto project to B2Gold of Canada. This proved to Daun that gold mining in Namibia could be successful and contribute to…
Read More
Osino created 20 local millionaires
26 Sep

Osino created 20 local millionaires

info_e12wt4csObserver Money
CHAMWE KAIRA Gold mining company, Osino Resources, which had listed on the Namibia Stock Exchange (NSX) in September created about 20 Namibian millionaires. Osino has since delisted on the NSX after it was bought by Shanjin International of China. Osino’s founder, Heye Daun said the company had a lot of Namibian shareholders and that it had raised N$45 million during its listing on the NSX. “We have created a lot of wealthy people, some of them were our own staff members, they took risks, worked hard and made their money,” explained Daun. He said in terms of value addition, company…
Read More
Bannerman’s financial remain solid
26 Sep

Bannerman’s financial remain solid

info_e12wt4csObserver Money
CHAMWE KAIRA Bannerman Energy Ltd’s financial position remained solid in the financial year ended 30 June 2024. As of 30 June 2024, its cash balance stood at 24 million Australian dollars (A$), bolstered by the successful raising of A$85 million through a two-tranche placement to institutional and sophisticated investors. The first tranche of A$75.7 million was received in early July, and the second tranche of A$9.3 million was received in mid-August 2024. Executive chairman Brandon Munro said this in the 2024 annual report, which highlighted a year of disciplined execution of its strategy. Munro said Bannerman made significant strides in…
Read More
Paratus invested N$204m in infrastructure
26 Sep

Paratus invested N$204m in infrastructure

info_e12wt4csObserver Money, ,
CHAMWE KAIRA For the year ended 30 June 2024, Paratus Namibia invested N$204.7 million in infrastructure compared to N$450.6 million in 2023, the company said in financial results. The number of new sites and fibre in new areas were limited to focus on the sign-up of new customers on the existing infrastructure. During this financial year, N$111m was invested towards capacity expansion, customer access of the current network and the expansion of the LTE network. During the 2023 and 2024 financial years, N$42.2 million was invested by the company, in conjunction with Paratus Botswana, for the construction of the fibre…
Read More
Tourism registers steady growth
26 Sep

Tourism registers steady growth

info_e12wt4csObserver Money
Namibia’s tourism sector exhibited resilience and steady growth in August, bolstered by a diverse mix of both regional and international visitors. European tourists, in particular, were a driving force, with their share of international arrivals increasing to 70.28%, up from 66.33% in July 2024. This upward trend underscores Namibia’s growing appeal as a leisure destination for European travellers, emphasising the importance of tailored marketing strategies aimed at this key demographic. The continued dominance of holiday and leisure travel presents opportunities for further infrastructure development to enhance the visitor experience and maintain positive momentum. However, as a significant portion of Namibia’s…
Read More
NAMPOA empowers journalists with in-depth insights into oil and gas industry
23 Sep

NAMPOA empowers journalists with in-depth insights into oil and gas industry

info_e12wt4csEnergy, Observer Money
Niël Terblanché As Namibia’s upstream petroleum industry continues to grow, driven by significant offshore discoveries, public interest has surged. Along with growing interest comes a pressing need for the media to provide accurate, well-informed coverage of the sector. In response, the Namibia Petroleum Operators Association (NAMPOA) is hosting a press seminar aimed at enhancing journalists’ understanding of the oil and gas industry, particularly its upstream operations. Scheduled for 24 September 2024, this seminar seeks to bridge the information gap between the oil and gas industry and the public by equipping media professionals with the tools necessary for informed reporting. The…
Read More
Residential development dominates August building statistics
23 Sep

Residential development dominates August building statistics

info_e12wt4csObserver Money,
Martin Endjala Residential development in Windhoek and Swakopmund dominated building statistics during August, with construction activities in both cities continuing to show growth. According to a report by Simonis Storm Securities, construction activity remained modest in both Windhoek and Swakopmund, with continued development in both regions. Windhoek recorded an increase in approvals from 189 in July 2024 to 222 in August 2024, the highest on record for the year. Swakopmund also saw a rise in approvals, jumping from 39 to 64 during the same period. Despite this increase in construction activity, the overall value of completed projects experienced a sharp…
Read More
A 50MW solar power plant to be constructed near Ruacana
23 Sep

A 50MW solar power plant to be constructed near Ruacana

info_e12wt4csEnergy, Observer Money
Martin Endjala A 50-megawatt photovoltaic (PV) power plant is set to be constructed near Ruacana if a proposal to build it is approved. Cathral Investment Seventy-Seven (Pty) Ltd. (CI77), plans to develop a 50 MW solar power plant on a site at the NamPower Kunene substation in the Omusati region. “The plant is not for local supply, but it's for international supply and central Namibia,” Enviro Dynamics’s environmental consultant, Norman Van Zyl said during a telephone interview with the Windhoek Observer on Monday. Enviro Dynamics has been instructed to apply for an Environmental Clearance Certificate (ECC) on behalf of CI77.…
Read More
Like Us
Follow Us
Subscribe Us
Follow Us
LinkedIn