Windhoek Observer – Page 362 – Windhoek Observer

17 Oct

Bannerman advances towards final investment decision

Observer Money

CHAMWE KAIRA Bannerman Energy Ltd. executive chairman, Brandon Munro, has disclosed that the September quarter marked another period of strong progress for Bannerman as the company advanced its Etango uranium project in the Erongo Region toward a final investment decision. “Our strong balance sheet and flexible approach to project development enable us to exercise a gated approach to Etango development, with phased green lighting of various construction works in line with advancement across broader project work streams and financial capacity. The success of our recent A$85 million equity placement delivered us the ability to move into the next phase of…

17 Oct

Andrada hits high-grade mineral strikes at Brandberg West

Observer MoneyAnthony Viljoen, Brandberg West mine

CHAMWE KAIRA Andrada Mining Limited, a critical raw materials producer with mining and exploration assets in the Erongo Region, has provided the final results from its inaugural drilling program at the historical Brandberg West mine, situated within the exploration license, EPL5445. The company said the aim of the program was to establish an initial understanding of the grades and geology within the historical open pit area and to investigate potential mineralised extensions to the north. These results constitute the second and final batch of samples from this program, representing ten out of the twenty holes drilled. Anthony Viljoen, chief executive…

17 Oct

Gold, zinc, copper prices increase

Observer Money

CHAMWE KAIRA The Bank of Namibia has disclosed that the price of gold trended higher over the past two-month period, buoyed by safe-haven demand. Likewise, zinc and copper prices increased over the same period, partly due to relatively lower global interest rates and a weaker US dollar exchange rate, the central bank said. The central bank said that while the uranium spot price initially fell toward the end of August, reflecting softening market fundamentals and market rebalancing, it recovered in the subsequent six weeks. Meanwhile, diamond prices have stabilised amid increased rough diamond inventories in India. “Weaker global demand, particularly…

17 Oct

Car sales to remain low

Observer Money

CHAMWE KAIRA Economic indicators in September showed positive trends, including a month of lower interest rates since May 2023, a stronger rand/Namibian dollar, and easing inflation below the 4% mark, Simonis Storm has revealed. The firm said lower fuel prices further bolstered consumer and business confidence, offering relief to household budgets. Although the July increases did not continue in August, the commercial vehicles segment has shown a positive trend in recent months, boosted by the mentioned macro factors. The firm said as the country anticipates further interest rate reductions, the costs of borrowing are expected to decline, which may stimulate…

17 Oct

Trustco expects major deal to close by December

Observer MoneyLegal Shield Holdings Limited, Riskowitz Value Fund LP (RVF), Trustco Group Holdings Limited

CHAMWE KAIRA Trustco Group Holdings Limited (Trustco) has announced updates to its planned purchase of additional shares in Legal Shield Holdings Limited (LSH), the company announced. Originally announced on 23 April, the transaction involves Trustco acquiring an extra 11.35% stake in LSH from Riskowitz Value Fund LP (RVF). This will increase Trustco’s total ownership of LSH to 91.35%. The transaction, valued at N$468 million (US$27 million), will be completed by issuing new Trustco shares to RVF. The transaction is expected to close by 31 December. The acquisition includes valuable assets such as Trustco Insurance Limited and Trustco Life Limited, as…

17 Oct

Solar could provide electricity to 400m people

Observer MoneyOff-Grid Solar Market Trends Report, World Bank’s Energy Sector Management Assistance Program

Off-grid solar is the most cost-effective way to power 41% of people globally by 2030 who are still living without energy access. The sector already provided 55% of the new connections in sub-Saharan Africa between 2020 to 2022 - where about 85% of the unelectrified population lives. The latest Off-Grid Solar Market Trends Report (MTR) 2024, published today by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and GOGLA, warns that a 6-fold increase over current investment levels - or US$21 billion - is required to realize off-grid solar’s potential to contribute to universal energy access, or this opportunity…

17 Oct

Save Today and Secure Tomorrow

Observer Money

ELSIE KAMBALA Saving money is a very essential habit. Saving goals can be short-term, medium-term, and long-term. Savings are meant for various functions, including daily needs, long term goals like retirement and life insurance and unplanned events like accidents and sickness. Financial advisers agree that you should have at least three to six months’ equivalent of your monthly expenses in your savings account. Furthermore, financial experts have suggested that at least 20% of your monthly income must go towards savings, 50% to basic needs like rent and mortgage and 30% must go towards wants. The Namibia Financial Inclusion Survey 2017…

17 Oct

A hermeneutical re-appraisal of the biography of Bishop Peter T. Kalangula; A Revisionist/ oppositional narrative Part 1

Opinions

Paul T. Shipale There is a new trend in post-colonial Namibia which inspires and propels the publishing of political autobiographies and memoirs by theologians, ex-combatants, politicians, journalists, public servants etc. Indeed, currently in vogue is the re-writing of the dead and forgotten by either their friends or children. The biography of the late Bishop Peter Tanyengenge Kalangula titled: ‘A Namibian of Stature’, authored by Nelson T. Kalangula, falls in this category as one of the recent writings that are meant to immortalise some people and indicate a growing interest in re-membering the ‘heroic deeds of those who are not pedestalled…

17 Oct

Can socio-economic ills be addressed if the root cause, capitalism, remains intact?

Opinions

Kae Matundu Many, if not most, of the political parties and/or formations aspiring to form the next government of the Republic of Namibia after the 27 November Presidential and National Assembly elections have now presented their manifestos. These manifestos encapsulate the aspirations of those who have embraced them. For all intents and purposes, the contents of these manifestos and those of some others amount to nothing more than hollow promises that border on fantasy. With political analysts, the very ones who have been insisting on these manifestos, reducing some, if not all of them, to nothing but mere political hallucinations.…

16 Oct

GRN considers Nigeria’s offer to train anti-corruption officers

Main

Ester Mbathera Namibia is reviewing a proposal from Nigeria to train officers involved in anti-corruption activities. The acting executive director of the Ministry of International Relations and Cooperation (MIRCO), Ambassador Jerobeam Shaanika, confirmed this on Tuesday to the Windhoek Observer. “The specific areas of expertise will be agreed upon by the relevant institutions during the negotiations of the agreement,” he said. Shaanika stated that the Office of the Attorney General scrutinises all agreements and memoranda of agreement before seeking final approval from the Cabinet. The offer, extended by Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC), was discussed…