Observer Money

Dundee expecting seamless smelter sale

Dundee expecting seamless smelter sale

Dundee Precious Metals Inc. early this month announced that it has entered into a definitive share purchase agreement with a subsidiary of Sinomine Resource Group Co. Ltd for the sale of its interest in the Tsumeb smelter located in Tsumeb including all associated assets and liabilities, through the disposition of all of the issued and outstanding shares it indirectly holds in Dundee Precious Metals Tsumeb Holding for consideration of US$49 million in cash. Dundee had operated the smelter for 13 years having acquired the smelter in 2010 to secure a processing outlet for the complex concentrate produced by the company’s…
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RA to upgrade Windhoek’s Auas Road

RA to upgrade Windhoek’s Auas Road

CHAMWE KAIRA The Roads Authority plans to upgrade the Auas Road in Windhoek. The project involves the upgrade of the road to a double carriage way from the Sean McBride intersection to the Mandume Ndemufayo Intersection, with a new taxi rank. The aim of the project is to improve the traffic flow on this portion of road, which is currently congested, especially during peak traffic. The RA has appointed Lithon Project Consultants to conduct the design, and construction supervision of the project. Enviro Dynamics has been appointed to conduct the Environmental and Social Impact Assessment for the project, in line…
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Namibia to import 162 000 tonnes of maize

Namibia to import 162 000 tonnes of maize

Agricultural Economics Today, economist Wandile Sihlobo has started that Southern Africa’s maize supplies will likely be tight in the 2023/24 season. Zambia, the second largest maize producer in the area after South Africa, declared a drought disaster and there will be increased pressure on South Africa to supply maize to the neighbouring countries. South Africa’s early production forecasts indicate that the country will also face a challenge in maize production. The Crop Estimate Committee places South Africa’s 2023/24 white and yellow maize harvest at 7 million tonnes (down 17% year on year) and 7,3 million tonnes (down 8% year on…
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Namdeb plans 34MW Wind Energy Facility

Namdeb plans 34MW Wind Energy Facility

CHAMWE KAIRA Namdeb Diamond Corporation (Namdeb) is proposing the development of the Kerbehuk Ridge Wind Farm, a 34MW Wind Energy Facility (WEF) located approximately 50km north of Oranjemund, within the Southern Coastal Mine area covered by Mining Licence 43. The development and operation of the Namdeb Wind (Phase 1) project are contingent upon receiving an Environmental Clearance Certificate (ECC) from the Ministry of Environment, Forestry, and Tourism (MEFT). Granting of the ECC is subject to an Environmental Impact Assessment (EIA), which is being undertaken by SLR Consulting (South Africa) (Pty) Ltd (SLR). Namdeb is jointly owned by the government and…
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Namport revenue increases with N$1.5 billion

Namport revenue increases with N$1.5 billion

Martin Endjala Namport has recorded a revenue increase to the tune of N$1.5 billion or 22 percent compared to the N$1.2 billion increase recorded in 2022. The profit was set against a target of N$1.2 billion while the ports authority announced an operating profit of N$411 million compared to the 2022 financial year which recorded N$375 million. This is according to a Namport integrated annual report for the financial period from 1 April 2022 to 31 March 2023. These achievements are said to highlight the ability of the company to adapt to market conditions, capitalise on demand, and maintain competitiveness…
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Small Stock Farming: The Imperatives

Small Stock Farming: The Imperatives

Nichlas Mbingeneeko The previous article focused on caring for lambs or goat kids. This article continues to focus on caring for lambs or goat kids as they are growing. As the lambs and goat kids grow, the milk produced by the mothers often becomes insufficient, particularly in the case of multiple births. Moreover, the grazing may be deficient in minerals and trace minerals. In that instances, the farmer needs to provide for supplementation for the lambs and goat kids as well as the lactating ewes. Supplementation, in the context of animal husbandry, relates to the provision of nutritional substances generally…
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Letshego borrowing reaches N$3.1 Billion

Letshego borrowing reaches N$3.1 Billion

Local borrowing by Letshego Holdings (Namibia) increased to N$ 3.1 billion in the year ended 31 December 2023 as the company undertook to finance growth and decrease reliance on parent funding. The company said in its financial results that it has been progressively implementing its digitalisation strategy in line with our ambition to grow market share. These sentiments were expressed by Chief Executive Officer, Ester Kali and Chairperson, Mansueta-Maria Nakale. Further, customer deposit mobilization continued in 2023 with growth from N$536 million at the end of 2022 to N$828 million at the end of 2023. The group remains optimistic about…
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Namibia Dairies taking steps to conserve water

Namibia Dairies taking steps to conserve water

The City of Windhoek recently said the current estimates indicate that the Central Area of Namibia (CAN) will not have an adequate water supply to bridge the next two rainy seasons. Observer Money asked Namibia Dairies how it plans to cope with the situation. Observer Money (OM): What has Namibia Dairies done since the last drought to conserve water? Namibia Dairies (ND): Considering the challenges posed by recurrent drought conditions in our region, Namibia Dairies, a subsidiary of the Ohlthaver & List (O&L) group, has been unwavering in our commitment to water conservation. This dedication is not only a reflection…
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Namibia had positive impact on Santam earnings

Namibia had positive impact on Santam earnings

South Africa remains Santam Limited most significant contributor to Gross Written Premium (GWP) at 84% (2022: 85%), with GWP from this market increasing in line with inflation by 5% to R31.5 billion (2022: R30 billion). GWP from outside South Africa, written on the Santam Ltd and Santam Namibia Ltd licences, made up 16% (2022: 15%) of total GWP and grew by 7% to N$5.8 billion (2022: N$5.5 billion). Santam said growth in the proportion of business written outside of South Africa was hampered by the cancelled business at Santam Re. Santam said it once again demonstrated its resilience, achieving strong…
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Guarantees to public enterprises reach N$9.3 billion

Guarantees to public enterprises reach N$9.3 billion

Government guarantees extended to public enterprises are expected to increase slightly to N$9.3 billion in the 2024/25 financial year compared to the revised estimate of N$9.1 billion in the 2023/24 financial year. Of these guarantees, N$2.2 billion was issued to domestic financial institutions while N$7.1 billion is issued to foreign lenders. For the subsequent years of the Medium Term Expenditure Framework (MTEF), total government guarantees are expected to rise to N$9.8 billion. The newly issued guarantees in the 2023/24 financial year were in support of entities such as Meatco and Namcor for business rescue and recapitalisation, and the Namibia Student…
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