Observer Money

Chamwe Kaira Standard Bank has partnered with InnoVent SAS to fund the Diaz Wind Project, Namibia’s largest wind energy farm. The bank has been appointed as the sole mandated lead arranger and underwriter of the senior debt and ancillary facilities. It will provide N$1.2 billion towards the project’s construction. The Diaz Wind Project is a 44-megawatt wind energy farm under development near Lüderitz by InnoVent SAS. It is the second and currently the largest wind project in Namibia. The project supports Namibia’s plan to reduce reliance on imported electricity and build local renewable capacity. “We have collaborated with InnoVent SAS…

CHAMWE KAIRA  Letshego Holdings Namibia Limited (LHN), listed on the Namibian Stock Exchange, has announced its 9th Annual General Meeting (AGM) will take place on Friday, 27 June, in Windhoek. The AGM will cover key resolutions for the financial year ending 31 December 2024. Shareholders will consider the company’s audited financial statements and reports from the board and independent external auditors. Shareholders will vote to ratify two dividend payments: an interim dividend of 39.89 cents per share paid in November 2024 and a final dividend of 43.88 cents per share, to be paid on 27 June. Mansueta-Maria Nandjila Nakale, an…

CHAMWE KAIRA Reconnaissance Energy Africa Ltd. (ReconAfrica) and the National Petroleum Corporation of Namibia (Namcor) have not yet finalised the transaction announced for September 22, 2022. ReconAfrica said discussions are ongoing. The agreement involves ReconAfrica acquiring half of Namcor’s 10% carried participating interest in the 6.3 million-acre Petroleum Exploration Licence (PEL 73) in the Kavango Basin. ReconAfrica also announced that Grayson Andersen has left the company to pursue new career opportunities. Mark Friesen has joined as Managing Director, Investor Relations and Capital Markets. He is based in Calgary and brings experience in energy finance and investor relations in the Canadian…

Chamwe Kaira Mobile Telecommunications Limited (MTC) has informed shareholders that it expects its profit after tax for the period ending 31 March 2025 to rise by between 10% and 17%. Basic and headline earnings per share are also expected to increase by the same margin. “The main contributors to the increase relate to revenue growth and cost control measures. This trading statement has not been reviewed by MTC’s external auditors. The unaudited financial results for the period ending 31 March 2025 are expected to be published on or about 6 June 2025,” the company said in a notice on the…

Chamwe Kaira Koryx Copper Inc. says its latest drill results show continued improvement at the Haib copper and molybdenum project in southern Namibia. Company President and CEO Heye Daun said the project is progressing, though drilling and assay work have moved slower than expected. “We now have a bulked-up technical team in place, with additional drill rigs expected to arrive within the next few weeks, which should improve our drilling rate from the second half of the year. In parallel with the drilling, we are making very significant progress with the various met test work components towards demonstrating the feasibility…

Chamwe Kaira  Bannerman Energy Ltd has appointed Danny Goeman as Independent Chair of its Product Offtake Committee. The company said Goeman is a seasoned commodity marketing executive with over 30 years of experience. He has worked across a range of mining companies, commodities, and regions. His previous roles include Director of Sales, Marketing and Shipping at Fortescue Limited. He also held several senior positions at Rio Tinto, such as General Manager for RTIO Marketing Asia, General Manager for Industry Analysis and Product Strategy, and Global Process Lead for Marketing Services. Goeman brings business experience in Asia and Europe, covering iron…

JOHN STEYTLER  Economic collaboration between Namibia and Botswana has the potential to reshape the regional energy landscape. Recently, President Dr Netumbo Nandi-Ndaitwah of Namibia and President Duma Boko of Botswana met to discuss critical economic initiatives. One of the key topics on their agenda was the possibility of a joint oil refinery, a move that could bring significant benefits to both nations. With Namibia anticipating substantial offshore oil discoveries, refining this resource domestically presents an opportunity to enhance revenue streams while reducing reliance on imported petroleum. Instead of merely exporting raw crude, a refinery would allow Namibia and Botswana to…

In an industry where every second of downtime can disrupt passengers and delay operations, a new satellite service is helping airports and airlines stay connected, no matter what. With the launch of SITA Managed Satellites, airports around the world can now maintain vital communication at all times, even during blackouts, natural disasters, or in the most remote or infrastructure-limited locations. The fully managed service is now available in over 130 countries, offering primary, secondary, and emergency connectivity options tailored specifically for the air transport industry. It takes advantage of low earth orbit (LEO) satellites to deliver secure, high-bandwidth, low-latency communications…

Niël Terblanché Fitch Ratings has affirmed Namibia’s long-term foreign currency issuer default rating, maintaining a stable outlook. Fitch also recognised Namibia’s BB country ceiling, one notch above the sovereign rating. The international rating agency pointed out the country’s relatively strong institutional framework and governance standards but cautioned that high public debt, fiscal deficits, and declining revenues present challenges to long-term stability. According to Fitch, Namibia’s ratings are supported by its strong governance indicators and institutional framework relative to rating peers, with its large non-banking financial sector offering flexibility in fiscal financing. “However, these strengths are offset by high fiscal deficits…

Niël Terblanché Despite growing optimism among African consumers, homegrown brands continue to lag in recognition, with the latest Brand Africa 100 rankings revealing that only 11 of the continent’s most admired brands are African, a historic low. The 2025 results, released at a ceremony in Addis Ababa on Friday, reflect a stark mismatch between belief in Africa’s potential and actual support for African-made products. Namibia, like many African countries, stands at a crossroads. While brands such as MTN and Dangote continue to command admiration, broader brand visibility and loyalty remain elusive. The United Nations Under-Secretary-General and Executive Secretary of the…