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Chamwe Kaira Bannerman Energy has secured a funding agreement worth about N$5.3 billion for its Etango Uranium Project in Namibia, paving the way for construction without taking on debt. The company said CNNC Overseas Limited will invest up to US$321.5 million through a strategic partnership. Under the agreement, CNNC Overseas will acquire a 45% stake in Bannerman’s UK subsidiary, which owns 95% of the Etango project.  Bannerman will retain an effective 52.25% interest, while CNNC Overseas will hold 42.75%. The One Economy Foundation will keep its 5% shareholding. Bannerman said the deal provides a debt-free funding route, reducing financial risk…

Chamwe Kaira  Namibia’s foreign reserves, inflation outlook and economic growth could face pressure if the conflict in the Middle East continues, Bank of Namibia governor Ebson Uanguta has warned. Uanguta said the domestic economy remains stable for now, but risks linked to rising global oil prices and disruptions to shipping routes have increased following the war involving Iran, Israel and the United States. “The situation remains fluid,” he said, warning that inflation and reserves could come under pressure if oil prices rise further and the Strait of Hormuz faces disruption. He said Namibia had been benefiting from a stable inflation…

Chamwe Kaira Anglo American says it will proceed with plans to sell De Beers and expects to provide an update during 2026. De Beers plays a key role in Namibia’s diamond sector through its partnership with the government in Debmarine Namibia, Namdeb Land and the Namibian Diamond Trading Company. The update comes as Namibia’s diamond production declined in the first quarter of 2026. Output fell 12% to 556 000 carats, down from 631 000 carats in the same period last year.  The drop follows scheduled maintenance on Debmarine Namibia’s mining fleet and the earlier decommissioning of two vessels. Production improved…

Staff Writer The Development Bank of Namibia (DBN) has launched a new client portal to improve access to its services and strengthen communication with clients. The platform forms part of the bank’s five-year strategy, which focuses on digital transformation to improve service delivery and efficiency. The Client Portal is a secure, mobile-friendly platform for existing clients with active loans. It allows users to manage their profiles, view account information and connect with DBN portfolio analysts. DBN chief of marketing and corporate affairs Jerome Mutumba said the platform marks a key step in the bank’s digital plans. “The introduction of the…

Apart from “A Diamond Is Forever", beacon campaigns, marketing, research, lobbying, social and environmental stewardship, traceability, and supply control, what has De Beers ever done for us? The reference is to the 1979 British comedy Monty Python’s Life of Brian. The leader of the People’s Front of Judea asks what good has ever come from their occupiers and enemies, the Romans. To his shock, faction members in the room start calling out positives: the aqueduct, the sanitation, the roads, education, and more. That’s how the industry sometimes sounds. Traders enjoy criticising the world’s most famous and influential diamond miner, which,…

Staff Writer The Ocean Innovation Africa Summit 2026, held in Durban at the end of March, brought together 581 delegates from 36 countries and hosted more than 420 business meetings focused on Africa’s blue economy ventures and innovations. The director general of the European Commission’s maritime affairs and fisheries department, Charlina Vitcheva, said progress in the sector depends on turning commitments into action through Africa-Europe cooperation. Salma Baghdadi, Innovation Lead at The Wave, said ocean regeneration requires strong systems around innovation. She emphasised the need for stakeholders to connect, ensuring that science drives solutions, those solutions penetrate the market and…