Namibian Stock Exchange – Windhoek Observer

24 Oct

Otto Shikongo to chair FNB board

ObserverObserver MoneyFirstRand Namibia Ltd, Namibian Stock Exchange

CHAMWE KAIRA FirstRand Namibia Ltd. and First National Bank of Namibia have announced the appointment of former Debmarine Namibia chief executive officer Otto Shikongo as chairman of its boards effective 17 October. FNB said the appointment of Shikongo as board chairperson is in compliance with paragraph 3.59(c) of the listing requirements of the Namibian Stock Exchange. “The company’s shareholders are hereby advised that Otto Nakasole Shikongo, an independent non-executive director and deputy chairperson of the company, is appointed as chairperson of the boards of FirstRand Namibia Ltd. and First National Bank of Namibia effective 17 October ,” the notice said.…

03 Oct

Oryx property portfolio valued at N$4.1 billion

ObserverObserver MoneyDebenture Trust Deed, Namibian Stock Exchange, TPF International Limited

CHAMWE KAIRA Oryx Properties has stated in its 2024 integrated report that its diverse and growing property portfolio is valued at N$4.167 billion. This includes all primary real estate sectors and continues to expand geographically, strengthening the group’s resilience to economic fluctuations. Moreover, the company said investors enjoy international exposure to the Croatian property sector through our substantial 26% shareholding in TIL. “Our primary listing on the NSX offers investors a transparent view of our performance. To safeguard long-term value for our unitholders, the policy is to pay out a minimum of 75% of total distributable income until 2027, after…

19 Sep

NBL profit to drop by 90%

ObserverObserver MoneyHeineken South Africa, Namibian Stock Exchange

CHAMWE KAIRA Namibia Breweries Limited expects profit after tax and basic earnings per share are expected to decrease by more than 90% for the twelve months ended 30 June 2024. The company said in a trading statement that the decrease is attributable to the once-off extraordinary gains related to the profit realised on the sale of the shares held in Heineken South Africa (RF) Proprietary Limited in the comparative year. Namibia Breweries said headline earnings per share from continuing operations for the twelve months ended 30 June 2024 are expected to decrease by less than 5% compared to the comparative…

05 Sep

Another repo rate cut projected

ObserverObserver Moneyfinal GC24 switch, Namibian Stock Exchange

CHAMWE KAIRA Namibia experienced a dynamic month in August in the fixed income market, characterised by fluctuating demand levels and interest rate reductions that have influenced yields, latest financial statistics have shown. The Bank of Namibia conducted five treasury bill auctions, two primary bond auctions, and completed the final GC24 switch. Secondary trades on the Namibian Stock Exchange (NSX) saw an overall decline, although there was a notable increase in trading volumes for the GC27 bond. Interest rates, which had been raised from 3.75% during the pandemic to a peak of 7.75% by July 2023, were reduced on August 14th…

29 Aug

ANIREP expecting changes to its operations

ObserverObserver MoneyAlpha Namibia Industries Renewable Power Limited, Namibian Stock Exchange

CHAMWE KAIRA Alpha Namibia Industries Renewable Power Limited (ANIREP) has extended its cautionary announcement it first issued on 16 August 2021, advising shareholders that negotiations are still in progress, which if successfully concluded, may have a material effect on the price of the company’s shares. “Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s shares until a further announcement is made,” it said on the Namibian Stock Exchange. The core annuity revenue for ANIREP is derived from the IPP sale of electricity and operations and maintenance services, both consistently generating cash in accordance with the nature…

09 May

Govt weighs MTC listing plans

ObserverObserver MoneyCovid-19, Government, Mobile Telecommunications Limited, MTC, Namibian Stock Exchange, NSX

Staff Writer Government could be forced to review the set timelines and defer the listing of Mobile Telecommunications Limited (MTC) due to COVID-19 outbreak, for what was to be the country’s biggest listing of a Namibian company on the Namibian Stock Exchange (NSX). According to the initially announced timelines, MTC was expected to be listed on the bourse by July 2020, after having submitted its listing application to the Namibian Stock Exchange (NSX) by February 2020, with the opening date for its public offer having been set for March 2020 and closing in June 2020. “We are discussing the matter…