Observer Money

CHAMWE KAIRA Uranium One Group says it has taken note of Stampriet Aquifer Uranium Mining Association (SAUMA)’s open letter which was published in the media recently. The Uranium One Group which aims to invest up to N$8,5 billion in the Namibian economy through the uranium mine near Stampriest. Uranium One said it is of the opinion that SAUMA’s letter was one sided and did not take all factors into consideration. The company said Rosatom, the mother company of Uranium One Group, has a proven track record of over 50 years in In-Situ Leaching or In-Situ Recovery (ISR) mining. “Because Rosatom…

CHAMWE KAIRA The growing attractiveness of Walvis Bay as a preferred option for import and export activities among hinterland countries such as Botswana, Zambia, Zimbabwe, and the Democratic Republic of the Congo (DRC) can be attributed to several key factors including strategic location, efficient transport corridor, modern infrastructure, customs and trade facilitation, competitive costs, political stability, diversified cargo handling and being transshipment hub, Acting Executive: Commercial Services at NamPort, Trevor Ndjadila said this week. In terms of strategic location, he said Walvis Bay offers a strategic and geographically advantageous location along the southwestern coast of Africa. It provides these landlocked…

Letshego Holdings Namibia has appointed Mansueta-Maria Nakale as chairperson of the board of Letshego and its subsidiaries. Letshego shareholders were advised that Maryvonne Palanduz's tenure agreement with Letshego has come to an end and accordingly retired from the board, effective 31 January 2024. Letshego said Nakale holds a Masters in Corporate Financial Management (University of Cape Town), Bachelor of Commerce - Accounting and Economics(UNISA), Masters in Business Administration (Stellenbosch) and a Certificate in Project Management (University of Sellenbosch). Nakale has over 20 years of experience in the financial sector with a specialisation in investment management and financial sector supervision. She…

In Namibia, making a real impact with financial solutions is a shared endeavour that requires collective action, innovative thinking, and a deep understanding of our people's needs. As a united force within the financial services industry, we bear a collective responsibility to lead the way toward a better future for everyone. At the forefront of our efforts is the imperative to ensure that our financial strategies are intricately aligned with Namibia's unique socio-economic landscape. This involves fostering collaboration and partnership with key stakeholders, including the government, businesses, and community groups, to identify priority areas where our combined resources can generate…

Bannerman Energy Limited has announced changes to its board and key executive roles, effective from early March 2024, in further preparation for planned development of its flagship Etango Uranium Project in Namibia. After almost 15 years of dedicated service, Ronnie Beevor will be retiring from the Bannerman Board. Bannerman’s current Managing Director and CEO, Brandon Munro, will assume the role of Executive Chairman. Alison Terry will be appointed as Lead Independent Director and Gavin Chamberlain is to be promoted from Chief Operating Officer to the Company’s Chief Executive Officer. Bannerman Executive Chairman-elect, Brandon Munro said the changes are designed to…

The International Air Transport Association (IATA) released data for global air freight markets showing that air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties. Full-year demand reached a level just slightly below 2022 and 2019. Global full-year demand in 2023, measured in cargo tonne-kilometers (CTKs), was down 1.9% compared to 2022 (-2.2% for international operations). Compared to 2019, it was down 3.6% (-3.8 for international operations. Capacity in 2023, measured in available cargo tonne-kilometers (ACTKs), was 11.3% above 2022 (+9.6% for international operations). Compared to 2019 (pre-COVID) levels, capacity was up 2.5% (0.0%…

African airlines’ annual traffic rose 38.7% in 2023 compared to the prior year. Full year 2023 capacity was up 38.3% and load factor climbed 0.2 percentage points to 71.9%, the lowest among regions. December 2023 traffic for African airlines rose 9.5% over December 2022, the International Air Transport Association (IATA) said. IATA announced that the recovery in air travel continued in December 2023 and total 2023 traffic edged even closer to matching pre-Total traffic in 2023 (measured in revenue passenger kilometers or RPKs) rose 36.9% compared to 2022. Globally, full year 2023 traffic was at 94.1% of pre-pandemic (2019) levels.…

Niël Terblanché Namibia's premier private tourism operator, the Gondwana Collection, has launched another round of its transformative Go4Gold program. This initiative aims to challenge deep-seated fears and personal convictions, promising life-altering positive changes for those who fully commit to the process. Gys Joubert, the CEO of the Gondwana Collection, explains that the company's success is rooted in its commitment to investing in people and fostering a culture of transparency, which forms the foundation of its organizational philosophy. In this nurturing environment, every team member is encouraged to play a meaningful role, contributing to the collective success of the organization. The…

CHAMWE KAIRA Paladin Energy Limited has announced that it executed a US$150 million syndicated debt facility (debt Facility) this week. The debt facility will provide Paladin with capital flexibility as the company recommences operations at the Langer Heinrich Mine (LHM) in Namibia and progresses its growth options, including progressing the Michelin exploration project in Canada. Paladin said the execution of the debt facility marks the successful completion of a comprehensive syndication process, including LHM site visits by independent technical and environmental experts and financier teams, corporate due diligence and an international syndication process. Paladin said it had executed the debt…

Chamwe Kaira The Walvis Bay Corridor Group (WBCG) plans to conduct a study on the competitiveness of the Walvis Bay Corridors. The Group in conjunction with the transport and logistics industry is seeking a consultant to conduct a study on the competitiveness of the Walvis Bay Corridors. The objective of the consulting exercise is to look at the competitiveness of the corridors and the assessment of tariff and non-tariff barriers and infrastructure in non-tariff barriers, tariff Barriers and infrastructure deficit. The Group said road transport related Infrastructure is a key enabler for intra-regional and international trade. The Group said it…