Observer Money

Chamwe Kaira Sprott Inc and its controlled corporate entities have reduced their shareholding in Elevate Uranium Ltd, according to a shareholder notice on the stock markets. The Sprott Group Entities’ holding dropped from 41 999 990 shares, representing 10.892% voting power, to 37 968 150 shares, equivalent to 9.846% voting power. The reduction followed a series of on-market trades executed by Sprott and its related entities across various dates, decreasing the number of voting shares held. Sprott Asset Management USA Inc, a fund and investment manager within the group, controls the voting and disposal of the shares.  As a controlled…

A high-level gathering of tourism investors, developers and ESG leaders has sparked critical debate about the relevance of global sustainability standards in the Southern African context, raising pressing questions about whether widely used environmental, social and governance (ESG) frameworks are fit for purpose in emerging markets. Hosted by the SADC Tourism Alliance, the closed-door think tank titled Profit, Planet, People: How Global Hospitality is Scaling in Southern Africa Responsibly, marked a regional convening to bring hospitality operators and sustainability experts into a candid conversation with developers and private equity. What emerged was clear: while ESG remains a vital entry point…

Chamwe Kaira  Botswana’s minister of transport and infrastructure and co-chair of the Joint Ministerial Committee (JMC) of the Trans-Kalahari Railway (TKR) project, Noah Salakae, says the railway is too important to fail. He made the remarks during the recent Joint Ministerial Committee meeting in Maun.  “If the feasibility numbers do not immediately convince financiers, we must not fold our arms. We must innovate, adapt, and build the partnerships that will make it happen,” said Salakae. The governments of Namibia and Botswana signed a Memorandum of Understanding (MoU) in 2010 to develop the Trans-Kalahari Railway.  In 2014, they signed a bilateral…

Chamwe Kaira  Namibia will take part in the ‘Financing a Clean and Equitable Industry Decarbonisation’ dialogue next week in Busan, South Korea. The head of the Namibia Green Hydrogen Programme (NGHP2), James Mnyupe, will represent the country.  The NGHP2 said the dialogue set to take place on 25 August comes at an important time following Namibia’s recent success in securing Climate Investment Funds (CIF) support under the Industry Decarbonisation Programme.  With this backing, Namibia is now developing a sectoral transformation investment plan to drive green industrialisation and decarbonisation. So far, Namibia has attracted about N$2.08 billion in investment for green…

Allexer Namundjebo The Central Procurement Board of Namibia (CPBN) has awarded public procurement contracts valued at N$7.5 billion over the past eight years.These contracts have been issued since the board’s establishment in 2017. The figure was revealed on Monday during the CPBN board stakeholders' engagement with current contractors. CPBN board member Julinda !Garus-Oas said the amount includes N$1.3 billion for 36 contracts awarded for goods, N$1.9 billion for 80 service contracts, and N$4.4 billion for 63 projects. Opening the session, CPBN board chairperson Mary Shiimi stressed that procurement plays a key role in national development.  She said contracts with CPBN…

Chamwe Kaira Namibia’s mining sector has continued to show resilience despite a weak global economy, the Chamber of Mines of Namibia said in its July monthly update. Global growth in early 2025 has been subdued, with major economies such as the United States and the United Kingdom slowing, while emerging markets have delivered mixed results.  Rising inflation, trade volatility, and falling external demand led the Bank of Namibia (BoN) to revise its growth forecast for 2025 from 3.8% to 3.5%.  The chamber stated that the contraction in agriculture and diamond mining had an impact. Mining, however, remains the backbone of…

Allexer Namundjembo Stabilisation in the South African rand and favourable external price trends are expected to drive Namibia’s inflation lower in 2025. The Bank of Namibia (BoN), at its recent Monetary Policy Dialogue, projected inflation to ease from a five-year average of 4.3% to 3.8% in 2025.  The dialogue took place under the theme, "35 Years of Monetary Stewardship: Enhancing Policy Resilience in a Changing Economic Landscape."  In July, the country's inflation was 3.5%.  “This downward trajectory reflects both domestic policy discipline and favourable external price developments,” said BoN governor Johannes !Gawaxab. Inflation previously peaked at 6.0% in October 2023,…

Chamwe Kaira  A proposed offshore petroleum safety regulator wants to have the power to impose fines and penalties and shut down operations when necessary in the oil and gas sector.  The regulator would go beyond compliance and safety audits by enforcing strict measures to ensure accountability in the sector. “The Offshore Petroleum Safety Regulatory body will not just oversee compliance and conduct safety audits but will have the authority to impose penalties, fines and shutdown operations when necessary,” said the founder of the Erongo Offshore Safety Conference, Knowledge Ipinge, who recently spoke at the Namibia Oil and Gas Conference in…