Observer Money

Chamwe Kaira Old Mutual says its Life APE sales were slightly lower in the quarter ending 31 March 2025. The drop was due to weaker guaranteed annuity sales in personal finance, which followed a market-wide decline caused by falling yields. The company also said it did not repeat the large savings sales it recorded in the same period last year under Old Mutual Corporate. These corporate deals tend to be irregular, with long and unpredictable lead times. “This was partially offset by good risk sales across all distribution channels in mass and foundation cluster as well as strong corporate sales…

Chamwe Kaira  SLR Environmental Consulting Namibia, commissioned by Osino Gold Exploration and Mining, has completed an Environmental Impact Assessment (EIA) for groundwater abstraction from the Kranzberg Aquifer near Usakos in the Erongo Region.  The assessment found that with recommended mitigation measures, the residual impacts are low to very low. SLR said the mitigation plan follows a hierarchy: avoiding sensitive areas first, then reducing impacts, and finally rehabilitating disturbed sites.  The firm considers the EIA and Environmental Management Plan (EMP) robust enough for MAFWLR and MEFT to make informed decisions. Osino is developing the Twin Hills Gold Project about 25 km…

Chamwe Kaira  Rössing Uranium produced 2,600 metric tonnes of uranium oxide in 2024, down from 2,920 metric tonnes in 2023, according to the Sustainability and Performance report. The mine extracted 30,334,678 metric tonnes of material in 2024, compared to 16,683,199 metric tonnes the previous year. Ore milled decreased to 8,486,056 metric tonnes from 9,301,890 metric tonnes in 2023. Revenue fell by 9% due to a 20% drop in sales volume following a month-long major maintenance shutdown, a delayed restart, water-related challenges, and technical issues at the processing plant. Despite these setbacks, Rössing Uranium made a net profit after tax of…

Chamwe Kaira The Bank of Namibia’s stock of international reserves rose by 6.6% at the end of April to N$63.6 billion. The increase was mainly driven by Southern African Customs Union (SACU) receipts. This level of reserves covers 4.2 months of imports. When oil exploration and appraisal activities, mostly funded from abroad, are excluded, import cover stands at 5.1 months. Broad money (M2) grew by 11.6% in April, up from 10.1% in March. The growth in M2 came from an increase in domestic claims, which rose by 9.8%, compared to 9.2% the previous month. “The rise in domestic claims growth…

Chamwe Kaira Oceana Group Limited has received formal notice that clients of Allan Gray have increased their stake in the company. The asset manager’s clients now hold 10.34% of Oceana’s total issued ordinary shares. The company shared this update in a statement issued to shareholders. “Shareholders are hereby advised that Oceana has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the company, such that the total interest in the ordinary shares of the company held by Allan Gray’s clients now amounts to 10.34% of the total issued ordinary shares…

Chamwe Kaira  TotalEnergies EP Namibia B.V. and its joint venture partners Namcor and Qatar Energy plan to drill up to 40 development wells on Block 2913B off Namibia’s southern coast. The wells will include oil producer (OP) wells and gas injection (GI) wells. This information is from the final scoping report of the Environmental and Social Impact Assessment for the Venus Development, prepared for TotalEnergies by SLR Environmental Consulting (Namibia). Block 2913B covers 8,215 km² and lies offshore southern Namibia, about 300 km from Oranjemund, 320 km from Lüderitz, and 700 km from Walvis Bay. Water depths range from 2,600…

Altron HealthTech, a division of the Altron group and a leader in healthcare technology solutions, is expanding its reach in Namibia with the launch of Elixir Live. Elixir Live is a comprehensive, cloud-based healthcare practice management system designed to streamline clinical and operational processes while empowering healthcare practitioners with secure, data-driven tools to improve patient outcomes that will be hosted within the borders of Namibia, making it compliant with Namibian privacy laws and offering excellent data security. “The introduction of Elixir Live into Namibia is both a strategic and geographical move by Altron HealthTech to support the growing demand for…

Chamwe Kaira  Reconnaissance Energy Africa Ltd (ReconAfrica) announced a C$10 million (N$130 million) marketed public offering.  The proceeds will fund exploration, general corporate needs, and the drilling of a key well. Research Capital Corporation leads the deal, with Canaccord Genuity Corp. and Haywood Securities Inc. as underwriters. BW Energy, already a major shareholder, is increasing its stake by investing about C$2 million, roughly 20% of the offering. This raises BW Energy’s ownership from 6.5% to 7.6%.  “This investment strengthens our strategic partnership and positions BW Energy at the forefront of Namibia’s drive for energy independence,” said BW Energy CEO Carl…

The International Air Transport Association (IATA) reported that US$1.3 billion in airline funds are blocked from repatriation by governments as of the end of April. This is a significant amount, although it is an improvement of 25% compared with the $1.7 billion reported for October 2024. IATA urged governments to remove all barriers preventing airlines from the timely repatriation of their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations. “Ensuring the timely repatriation of revenues is vital for airlines to cover dollar-denominated expenses and maintain their operations. Delays and denials violate bilateral agreements…

WANDILE SIHLOBO Maize is essential for Southern Africa’s food security. Its widespread production across this region is somewhat of a barometer of the status of the agricultural output. The past 2023-24 maize production season was challenging following a mid-summer drought that led to poor harvest across the region. Zambia lost half of its maize crop, Zimbabwe lost nearly two-thirds of its maize, and other countries such as Malawi and Lesotho experienced significant losses. South Africa was a slight exception because the impact was less severe than in the region. The country’s maize harvest fell by 23% to 12.7 million tonnes.…