Observer Money – Page 43

29 Aug

Letshego’s operating profit increase to N$219m

info_e12wt4csObserver MoneyLetshego Holdings (Namibia) Limited

CHAMWE KAIRA Letshego Holdings (Namibia) Limited has said in interim results for the year ended 30 June, that operating profit increased by 18% to N$219 million compared to N$186 million in the year ended June 2023. Profit after tax increased by 16.3% to N$199 million compared to N$171 million in the same period last year. The group said Letshego Bank (Namibia) Limited capital adequacy ratio improved by 3% to 35%. Letshego's said strong business fundamentals, coupled with significant advancements in governance and sustainability frameworks, positioned the company to capitalize on the benefits and potential generated by the initial phases of…

29 Aug

Osino to delist from NSX

info_e12wt4csObserver MoneyNamibian Competition Commission, Shanjin International Gold Co. Ltd

CHAMWE KAIRA Osino Resources has announced that it will delist from the Namibia Stock Exchange. The company told shareholders that further to the transaction finalization notice distributed to shareholders on 19 August, notice was being given hereby given that the trading of the Osino Resources Corp shares will be suspended on 26 August 2024 and delisted from the Namibian Stock Exchange on 30 August. Osino has already announced that Shanjin International Gold Co., Ltd. (formerly known as Yintai Gold Co., Ltd will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share.…

29 Aug

Uranium market resurgence unfolding

info_e12wt4csEnergy, Observer MoneyBannerman Energy Ltd, Etango Project

CHAMWE KAIRA Bannerman Energy Ltd, which is developing the Etango project in the Erongo has said persistent cumulative supply gap now stands at approximately 150 million pounds of uranium oxide. Namibia stands to gain from increase in demand for uranium is it is one of the world’s largest producers of uranium. Bannerman said in a presentation to investors that Emerging Small Modular Reactor (SMR) technology is driving further new demand additions. The company added that the industry has lost a decade of uranium exploration and project development post Fukushima. The other factors that are driving demand for uranium include the…

29 Aug

ANIREP expecting changes to its operations

info_e12wt4csObserver MoneyAlpha Namibia Industries Renewable Power Limited, Namibian Stock Exchange

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) has extended its cautionary announcement it first issued on 16 August 2021, advising shareholders that negotiations are still in progress, which if successfully concluded, may have a material effect on the price of the company’s shares. “Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s shares until a further announcement is made,” it said on the Namibian Stock Exchange. The core annuity revenue for ANIREP is derived from the IPP sale of electricity and operations and maintenance services, both consistently generating cash in accordance with the nature…

29 Aug

Capricorn expecting higher profits

info_e12wt4csObserver MoneyCapricorn Group

CHAMWE KAIRA Capricorn Group’s expects profit after tax and earnings per share for the year ended 30 June to be materially higher by between 15% and 20% compared to what was reported in the prior period. Additionally, headline earnings per share for the year ended 30 June 2024 is expected to be materially higher than what was reported in the prior period by between 13% and 18%, the group said. Capricorn added that during the year ended 30 June, Capricorn Group implemented IFRS 17 – "Insurance Contracts", which requires full retrospective application for disclosure purposes. FRS 17 is an International…

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…