Observer Money

CHAMWE KAIRA  Letshego Holdings Namibia has told shareholders that profit after tax for the year ending 31 December 2024 is expected to be materially higher, by between 15% and 20%, than what was reported for the comparative period. “Therefore, earnings per share and headline earnings per share for the year ending 31 December 2024 is expected to be materially higher, by between 15% and 20%, than what was reported for the comparative period,” the company said. Last year, the company said in interim results for the year ended 30 June 2024 that operating profit increased by 18% to N$219 million…

Erasmus Shalihaxwe Electricity Control Board (ECB) Chief Executive Officer, Robert Kahimise said proposed tariff structures must balance the operational viability of utilities with ensuring electricity remains accessible and affordable for all Namibians. Kahimise spoke at the Nampower 2025/2026 bulk tariff public presentation in Windhoek on Wednesday.  He said the ECB, as a regulator, aims to create tariffs that are fair and support economic growth at both business and household levels. “We are not just inundated with access and affordability concerns. The long-term sustainability of our national electricity utility also features pertinently given its creditworthiness—which is foundational not only to its…

Hertta-Maria Amutenja  MTC has extended its fibre transmission network to 2 738 km to strengthen its backbone infrastructure to meet increasing demand for fixed internet services and reduce dependency risks. The expansion, which covers Windhoek and coastal areas, is part of MTC’s strategy to enhance digital connectivity for businesses and households. The company aims to provide reliable and high-speed internet services, supporting Namibia’s digital transformation and economic growth. MTC’s chief brand, marketing, communications, and sustainability officer, Tim Ekandjo, explained the importance of robust infrastructure in maintaining the company’s market leadership.  “The ability to continue meeting the market’s demands requires that…

CHAMWE KAIRA  The Capricorn Group delivered strong financial results with profit after tax for the six-month period ended. 31 December 2024, increasing by 28.4% to N$1.06 billion, compared to N$827.6 million in the same period last year. This translates to a 29.1% rise in earnings per share to 196.80 cents. The annualised return on equity also improved from 16.8% to 19.1%. The performance is due to excellent results and solid all-round performances by its subsidiaries, Bank Windhoek, Bank Gaborone, Capricorn Asset Management (CAM), Entrepo, and Peo Finance, said David Nuyoma, Group CEO. Operating profit for the half year increased by…

Global demand for liquefied natural gas (LNG) is forecast to rise by around 60% by 2040, largely driven by economic growth in Asia, emissions reductions in heavy industry and transport as well as the impact of artificial intelligence, according to Shell’s LNG Outlook 2025. Industry forecasts now expect LNG demand to reach 630-718 million tonnes a year by 2040, a higher forecast than last year. Global LNG trade grew by only 2 million tonnes in 2024, the lowest annual increase in 10 years, to reach 407 million tonnes due to constrained new supply development. More than 170 million tonnes of…

CHAMWE KAIRA  Andrada Mining Limited, a tin producer with a critical raw materials portfolio of mining and exploration assets in Namibia, has provided an update on its remuneration policy.  The policy was approved by shareholders at the company's general meeting held in September last year.  On 1 March 2024, the company approved the payment of certain cash bonuses as part of the remuneration policy for the full year ended 28 February 2024. Only 50% of the cash bonuses have been paid to date.  The company achieved an overall performance score of 65% in the 2024 financial year based on the…

CHAMWE KAIRA  Deep Yellow, which is developing the Tumas Project in the Erongo Region, says it has established the right platform at the right time, ready to build greenfield projects when the price is right. The company said in a project update that the uranium market backdrop creates exceptional opportunities in the post-Fukushima supply reconstruction era and taking advantage of an assured supply shortage further exacerbates a bifurcated market. The company said it has a strong financial position with Australian dollar (A$) 238.4 million cash to initiate development of Tumas and pursue a growth strategy. The financial investment decision on…

CHAMWE KAIRA  The government wants the Trans-Kalahari Rail Corridor Development Project, a joint project with Botswana, to be implemented as soon as possible.  The Trans-Kalahari Railway project is poised to yield substantial socioeconomic advantages, such as significantly enhancing the rail capacity of Botswana Railways and TransNamib Holdings Limited.  Additionally, it promises to alleviate the strain on regional road infrastructure and reduce the likelihood of accidents involving heavy trucks and smaller vehicles, as freight transportation shifts from road to rail. Minister of Works and Transport, John Mutorwa, told a meeting of officials of the two countries that the governments of Namibia…

CHAMWE KAIRA  Deep Yellow has said legal action against the company by Jurgen Hoffman and Tumas Granit is completely without merit and that the company will take all necessary action to protect its interests, as it has done on all previous occasions. The company is developing the Tumas uranium project in the Erongo Region.  Deep Yellow further clarified that Jurgen Hoffman and Tumas Granite are not Deep Yellow’s partners in Namibia.  Last week it emerged that Hoffman had commenced proceedings against the Minister and Ministry of Mines and Energy to have the mining license declared void.  Deep Yellow in a…

Namibia will become the first country in the world to generate carbon credits under a project by the Nopal Renewable Energy Corporation.  Observer Money asked Nicole Maske, a partner at Nopal Renewable Energy Corporation on how the company will progress with its plans.  The company plans to invest N$1.8 billion in a large-scale nopal cactus farm in Maltahöhe, aiming to establish Namibia as a leader in carbon sequestration through agriculture. Observer Money (OM): How will Nopal Renewable Energy raise N$1.8 billion needed for the next three years needed to invest in the cactus farm at Maltahöhe? Will this money be…