Observer Money – Page 37

29 Aug

FirstRand Namibia earnings to increase by 7% to 12%

info_e12wt4csObserver 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

info_e12wt4csObserver 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…

29 Aug

Uranium exploration gets positive feedback

info_e12wt4csObserver MoneyGIB Mining in EPL 10131, Namisun

CHAMWE KAIRA Namisun, the environment project company has said its opinion is that the environmental aspects and potential impacts relating to the proposed uranium exploration activities of GIB Mining in EPL 10131 in the Namib Naukluft National Park (NNNP), in the Erongo Region, have been successfully identified and assessed as part of this EIA Scoping process. Namisun said relevant management and mitigation measures have been provided to ensure significant environmental and social impacts are avoided or minimized and positive social impacts enhanced, where relevant. In consideration of the park management plan of NNNP, careful consideration from GIB Mining as well…

29 Aug

Demand for African airlines cargo grow by 6.2%

info_e12wt4csObserver MoneyInternational Air Transport Association (IATA)

The International Air Transport Association (IATA) has just released its July 2024 year- on -year analysis of the air cargo market and traffic. During the month in review, African airlines saw 6.2% year-on-year demand growth for air cargo in July, the lowest of all regions and their lowest recorded figure in 2024. Demand on the Africa–Asia market increased by 15.4% compared to July 2023 while July capacity increased by 10.5% year-on-year July’s figures reflect slower year-on-year demand and capacity compared with June when demand was up 11.8% year-on-year and capacity rose expanded by 23.8% year-on-year. By comparison, the global airline…

28 Aug

Namibia leads Africa’s Green Hydrogen revolution

info_e12wt4csEnergy, Observer MoneyCleanergy Solutions, Daures Hydrogen Village, Elof Hansson, HDF Energy, HyIron, Hyphen Hydrogen Energy, Hyrail, Zhero

Niël Terblanché Namibia is rapidly emerging as a leader in the green hydrogen industry, with eight active projects that are set to transform the nation's energy landscape and position it at the forefront of global green energy initiatives. These projects, which include Hyphen Hydrogen Energy, Elof Hansson, HDF Energy, HyIron, Zhero, Cleanergy Solutions, Daures Hydrogen Village, and Hyrail, are developing essential production infrastructure across the country, from wind and solar farms to electrolysis facilities and desalination plants. According to James Mnyupe, Namibia's Green Hydrogen Commissioner, the heart of this green revolution is the Hyphen Hydrogen Energy project, strategically located in…

27 Aug

Telecom faces challenges amid mobile and data network expansion

info_e12wt4csObserver Moneydata network expansion

Hertta- Maria Amutenja Telecom is grappling with challenges as it undertakes a substantial expansion of its mobile and data services across the country. The company has acknowledged difficulties in infrastructure investment, which have hampered efforts to modernise its network. Stanley Shanapinda, the chief executive officer of Telecom Namibia, addressed these issues during an update on the implementation of the company’s mobile and data turnaround strategy. He noted that the limited investment in infrastructure over the past decade has resulted in the company lagging behind in upgrading its mobile network to 3G and 4G standards. “For a certain period, Telecom found…

26 Aug

Trustco to provide deposit repayment plan on Tuesday

info_e12wt4csObserver MoneyBank of Namibia (BoN), Trustco Bank Namibia Limited (TBN)

Martin Endjala Trustco Group Holdings Ltd. (TGH), the parent company of Trustco Bank Namibia Limited (TBN), has until Tuesday to provide the Bank of Namibia (BoN) with a deposit plan. This follows TGH's decision to return TBN’d banking license to the BoN for cancellation with immediate effect. Quinton van Rooyen, Chairman of Trustco Group Holdings' Board Investment Committee, disclosed this information in a statement last week. "In light of recent developments, Trustco has decided to exit from investing in deposit-taking institutions in Namibia. Our focus is now shifting towards non-deposit-taking financial services, where we see tremendous growth potential,” he said.…

26 Aug

Namibia set to host strategic business forum in Beijing

info_e12wt4csObserver MoneyForum on China-Africa Cooperation (FOCAC)

Niël Terblanché Namibia is preparing to play a key role in this year's Forum on China-Africa Cooperation (FOCAC), as its delegation will host a business forum aimed at enhancing strategic economic partnerships with China. The forum, to be held during the event in Beijing from 4 to 6 September, will provide numerous opportunities for business collaborations and at the same time, strengthen bilateral ties between Namibia and China. At the end of last week, Jerobeam Shaanika, the Deputy Executive Director of Namibia’s Ministry of International Relations and Cooperation, reiterated the importance of the event, noting that it presents a unique…

22 Aug

NBL unveils N$337m wine packaging line

info_e12wt4csObserver MoneyNamibia Breweries Limited (NBL), Peter Simons

CHAMWE KAIRA Namibia Breweries Limited (NBL) has unveiled its N$337-million wine packaging line, a significant milestone in the company’s ongoing commitment to innovation and growth. The new facility was officially inaugurated by President Dr Nangolo Mbumba at NBL Head Office in Windhoek. In a strategic move to expand production capacity and diversify its brand portfolio, NBL has allocated an additional N$44 million to enhance its existing packaging lines. This upgrade will allow the brewery to produce and package popular ciders such as Savanna and Hunters locally for the first time. Additionally, the brewery’s extended warehouse, covering 4,400 square meters represents…

22 Aug

Curro seeking for more investments

info_e12wt4csObserver MoneyCurro Holdings Limited, Walvis Bay Gymnasium

CHAMWE KAIRA Curro Holdings Limited has said in the financial results for the six months ended 30 June that it is actively pursuing opportunities to offer quality education to more learners in Southern Africa. The group opened two new campuses in Walvis Bay and Oshana and also owns the Windhoek Gymnasium. The Walvis Bay Gymnasium opened with 350 pupils. Oshana Gymnasium opened with an initial intake of 200 to 250 learners. The two new schools were built at a total cost of N$240 million. Curro said the two new campuses in Namibia are part of a joint venture. “Much of…