Observer Money

Chamwe Kaira French media group Canal+ has strengthened its control over MultiChoice Group Limited, increasing its shareholding in the South African pay-TV operator to 76.52%. MultiChoice said Canal+ formally notified the company that it had acquired an additional interest, bringing its holding to 72.46% of ordinary shares in issue. The increase follows Canal+'s ongoing mandatory offer to remaining shareholders, which attracted acceptances for 17.95 million shares. Once these are settled, Canal+'s stake will rise to 76.52%. The development marks a new stage in Canal+'s gradual takeover of MultiChoice, which began early this year as part of its plan to expand…

Staff Writer Choppies Enterprises has confirmed the finalisation of its dividend for the financial year ending 30 June 2025.  Shareholders on the Botswana Stock Exchange (BSE) and Johannesburg Stock Exchange (JSE) will receive the payout following the company’s earlier announcement on 22 September 2025. A gross final dividend of 0.6 thebe per share has been declared for shareholders on the BSE.  After Botswana’s 10% withholding tax, the net amount will be 0.54 thebe per share. For JSE shareholders, the dividend will be paid in South African Rand at an exchange rate of BWP 1 = ZAR 1.20150 as of 7…

Chamwe Kaira US-based State Street Corporation and its subsidiaries have increased their shareholding in uranium developer Deep Yellow Limited, which is developing the Tumas project in Namibia’s Erongo Region.  The change was revealed in a filing with the Australian Securities Exchange (ASX). The filing outlines transactions involving State Street Bank and Trust Company, State Street Global Advisors, and related entities.  The adjustments stem from securities lending, borrowing activities, and rebalancing of managed investment portfolios. Following the transactions, State Street and its associated entities now hold about 8.36% of Deep Yellow’s issued share capital, up from 7.36% reported in May 2025.…

Staff Writer McDermott and the Petroleum Training and Education Fund (Petrofund) have signed a Memorandum of Understanding (MoU) to collaborate on academic and industrial training initiatives in Namibia’s upstream oil and gas sector. The partnership will align with international standards to give Namibian students, job seekers, and service providers access to training, mentorship, and employment opportunities. It aims to build technical skills in engineering, fabrication, operations, and project management to prepare the local workforce for roles in the country’s growing offshore energy industry. “This MoU furthers our commitment to developing local content and building a sustainable oil and gas workforce…

Staff Writer De Beers Group has launched Desert Diamonds, its first new “beacon” in more than a decade, supported by the company’s largest marketing investment in over ten years.  A De Beers beacon is a celebration of natural diamonds presented through a jewellery concept that unites the industry around a central idea and inspires category-wide marketing efforts. First unveiled at the JCK Las Vegas Show earlier this year, Desert Diamonds draws inspiration from desert landscapes where many natural diamonds are found.  The collection celebrates a range of colours from warm whites to champagne tones and amber hues. It uses this…

Chamwe Kaira Former minister of finance, Iipumbu Shiimi, says the country's high household debt, especially among public servants, is fuelled by gaps in the law and weaknesses in the deduction code system. Shiimi explained that the payroll deduction management system (PDMS), meant to improve access to credit, has instead encouraged excessive borrowing as microlenders face little risk when repayments are automatically taken from salaries. “Consequently, many civil servants are left with little to no disposable income and increasing financial distress,” he said. Shiimi called for the speedy adoption of the consumer protection bill to place all microlenders under the Namibia…

Chamwe Kaira Reconnaissance Energy Africa (ReconAfrica) Ltd says drilling of the Kavango West 1X exploration well is progressing as planned. Brian Reinsborough, the company’s president and chief executive officer, said the final casing string has been set at a depth of about 2,300 metres, just above the targeted Otavi reservoir. “Currently, the well is drilling ahead into the Otavi carbonate reservoir, which is the primary target in the Damara Fold Belt. We anticipate drilling an extensive section of the potential reservoir, which will be followed by a full evaluation of the Otavi section. The Kavango West 1X well is testing…

Staff Writer Canadian-listed copper developer Koryx Copper Incorporated has made amendments to its management information circular ahead of a special shareholder meeting scheduled for 15 October. The company said the changes were required due to a labour dispute in British Columbia, which could delay regulatory approvals for its planned continuation and redomiciliation from Canada to Luxembourg. At the meeting, shareholders will vote on Koryx’s proposal to transfer its registered office and central administration to the Grand Duchy of Luxembourg, where it will operate as Koryx Copper S.A., a public limited company. The move is aimed at improving Koryx’s international corporate…

African companies raised over US$800 million in the third quarter of this year, marking a 21% increase compared to the same quarter in 2024. This growth was driven primarily by growth-stage funding, despite a decline in the number of deals.  This uptick in funding, following several quarters of decline since the 2021 funding bubble, reinforces predictions highlighted in our recently released Africa Venture Pulse Report, which indicates that 2025 funding is on track to surpass 2024 totals. Since peaking in 2022, overall deal activities, particularly deals between US$100 000 and US$1m, have been on a steady decline.  In contrast, very…

Chamwe Kaira Trading on the Namibian Stock Exchange’s (NSX) fixed income market was quiet on Monday, with only one deal recorded, according to NSX data. The government bond market remained largely unchanged, with yields stable across maturities. Economic indicators pointed to steady conditions as the country enters the final quarter of 2025. The only transaction involved the GC32 government bond, with N$10 million in nominal value traded at a yield of 9.31%. The bond, which matures in April 2032, closed unchanged at a price of 98.27. Other benchmark government bonds, ranging from the short-term GC25 to the long-term GC50, reported…