Observer Money – Page 6 – Windhoek Observer

18 Feb

MTC appoints Hiwilepo as non-executive chairperson

Observer Money

Staff Writer Mobile Telecommunications Limited (MTC) has appointed Trophimus Hiwilepo as its new non-executive chairperson with effect from 13 February. The appointment follows the passing of former chairperson Theofelus Mberirua, which the company announced on 25 November 2024. In a notice to shareholders, MTC said the board appointed Hiwilepo in line with section 3.59 of the Namibia Securities Exchange Listings Requirements and Article 88 of the company’s Articles of Association. Hiwilepo has served as an independent non-executive director since July 2024. The board said the appointment reflects its confidence in Hiwilepo’s leadership and business experience, as well as his commitment…

18 Feb

Shareholders back NAM board and auditor appointments

Observer Money

Staff Writer Namibia Asset Management Ltd (NAM) shareholders approved all resolutions tabled at the company’s annual general meeting held on 12 February 2026. Shareholders noted and adopted the annual financial statements for the year ended 30 September 2025. Under ordinary resolution 1, shareholders approved remuneration for non-executive directors for the 2026 financial year. The resolution received 187.82 million votes in favour, with no votes against or abstentions. Ordinary resolution 2 approved the appointment of EY Namibia as the company’s registered auditor, as recommended by the Audit and Risk Committee. Shareholders also authorised the directors to determine the auditor’s remuneration. The…

18 Feb

Trustco general meeting invalid after defective notice

Observer Money

Staff Writer Trustco Group Holdings Limited says no valid voting took place at its general meeting held in Windhoek on Monday, after the notice convening the meeting was found to be defective. The meeting was convened at the request of Riskowitz Value Fund LP and took place at The Weinberg – Muscadel & Burgundy venue. It was called in terms of section 189(3) of the Companies Act No. 28 of 2004. Trustco chairperson Advocate Raymond Heathcote SC ruled that the notice did not comply with section 1(8) of the Act, which sets out how and when notice must be given…

17 Feb

Repo rate expected to remain unchanged

Observer Money

Chamwe Kaira Standard Bank Namibia has said that given the Bank of Namibia’s emphasis on closing the differential with South Africa and the current 25 basis points (bps) gap, its expectation is that the Bank of Namibia will keep rates unchanged until the South African Reserve Bank (SARB) fully closes the differential through further cuts. “Only then would BoN begin its own easing cycle. In this scenario BON will only deliver two 25bps cuts in tandem with South Africa,” Standard Bank economist Helena Mboti has said. The Bank of Namibia is expected to make its first monetary policy decision for…

17 Feb

Cirrus buys stake in Ultimate Safaris

Observer Money

Staff Writer Cirrus Unlisted Investments and Ultimate Safaris have completed an equity funding transaction that will see Cirrus acquire a significant minority stake in Ultimate on behalf of individual and institutional Namibian investors. Ultimate is a Namibian luxury lodge and tour operating company. Cirrus said the business has strong potential for further growth and represents a high-impact Namibian company. Ultimate Safaris started small and has built a reputation for its sustainability efforts. The company focuses on luxury ecotourism and operates across Namibia’s natural landscapes and remote areas. It works to limit environmental impact while supporting conservation and local communities. “Namibia…

17 Feb

IAEA reviews proposed uranium project in Omaheke

Observer Money

Staff Writer The Stampriet Aquifer Uranium Mining Association (SAUMA) attended a closed stakeholder meeting with the International Atomic Energy Agency (IAEA) on 6 February. Environmental commissioner Timoteus Mufeti invited the association to take part. The meeting formed part of an independent technical review by six IAEA representatives into a proposed uranium in situ leaching mining project in the Omaheke region. The review aims to provide expert advice on environmental protection, groundwater resources, public health and regulatory oversight. The IAEA team was invited to review Headspring Investments’ application for an environmental clearance certificate (ECC). The company plans to conduct four years…

17 Feb

Standard Bank Namibia warns of Deepfake scam

Observer Money

Staff Writer Standard Bank Namibia has issued a public warning about a fraudulent social media video that falsely portrays its chief executive officer, Erwin Tjipuka, promoting an alleged investment scheme. In a statement released on Monday, the bank said the video, which has been circulating on platforms including Facebook, is a deepfake, digitally manipulated content designed to mislead viewers by attributing statements or endorsements to well-known individuals. The bank said neither Tjipuka nor its leadership has participated in, endorsed or advised on any investment opportunity outside the institution’s official product offerings. Standard Bank Namibia said it unequivocally distances itself from…

16 Feb

Chinese investor backs Etango with US$294m deal

Observer Money

Chamwe Kaira Bannerman Energy Ltd has signed binding investment and joint venture agreements with China Nuclear Overseas Limited to fund the development of the Etango Uranium Project in the Erongo Region. Under the agreement, CNOL will invest US$294.5 million for a 45% stake in Bannerman Energy (UK) Ltd, the newly formed joint venture company. Bannerman will retain a 55% interest. CNOL will also reimburse Bannerman up to US$27 million for 45% of approved early works expenditure incurred from 1 July 2025 until completion. The joint venture company owns 95% of the Etango Project. The project has an initial planned production…

16 Feb

Holistic employee benefits: Building financial security beyond a salary

Featured, Observer Money

Jolene Mans In today’s competitive workplace, employees expect more than just a pay cheque. They seek security, peace of mind and benefits that support their well-being throughout every stage of life. A truly holistic employee benefits package delivers on these expectations by combining retirement savings, risk protection and wellness initiatives into one comprehensive offering. This approach not only enhances employee satisfaction but also strengthens organisational resilience and talent retention. Retirement savings: A foundation for financial independence Retirement funds remain one of the most powerful tools for building long-term wealth and ensuring financial independence after your working years. Beyond simply saving…

16 Feb

One Economy Foundation takes 5% stake in Etango deal

Observer Money

Chamwe Kaira The One Economy Foundation holds a 5% loan-carried interest in the Etango Uranium Project, giving the Namibian empowerment entity a stake in one of the country’s largest proposed mining developments. The interest was disclosed in Bannerman Energy Ltd’s Etango Strategic Financing Presentation, released as part of its strategic financing agreement with CNNC Group. The project is held by Bannerman Mining Resources (Namibia) (Pty) Ltd. This entity is 95% owned by Bannerman Energy (UK) Ltd and 5% by the One Economy Foundation on a loan-carried basis. Bannerman Energy (UK) Ltd is owned 55% by Bannerman Energy (Netherlands) BV and…