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CHAMWE KAIRA  TotalEnergies EP Namibia and its partners are planning to produce 160 000 barrels of oil per day at their proposed project situated offshore, which will have a storage capacity of around two million barrels of oil and a gas separation capacity of 550 000 million standard cubic feet per day (MMscfd). ThiIt is contained in documents, which form part of its application for environmental clearance of the project. TotalEnergies EP Namibia B.V., Namcor and Qatar Energy have announced plans to conduct an Environmental and Social Impact Assessment (ESIA) for the proposed development of the offshore Venus Field in…

Kevin Lings, Stanlib Asset Management senior economist, talks to Observer Money about the impact of the 21% tariffs imposed on Namibia by US President, Donald Trump.  Observer Money (OM): What do you make of the US government’s recent reciprocal tariff imposed on African countries which includes 21% tariffs on Namibia? Kevin Lings (KL): In general, the level of reciprocal tariffs introduced by the US are significantly higher than expected. It can be argued that the focus on the excessive tariff levels are focused on Asia, Cambodia, Vietnam, Indonesia, Thailand, although sub-Saharan Africa was also an area of focus including Angola,…

CHAMWE KAIRA  The imposition of a 21% tariff on Namibian exports by the United States, as part of a broader protectionist trade agenda, could exert notable pressure on Namibia’s inflation trajectory, Simonis Storm has said. The policy forms part of a sweeping tariff strategy that includes a 10% baseline tariff on all US imports, with elevated rates for specific trading partners, including Namibia. “Namibia’s key exports to the US, notably diamonds, uranium, and fish, are directly in the crosshairs of these tariffs. A decline in competitiveness in the US market may lead to reduced export volumes, lower foreign exchange earnings,…

CHAMWE KAIRA  Rangel, the logistics company, will also open a new office in Nakop, on the Namibian border, which will augment its current presence in Zambia and Tanzania. The logistics company entered the South African market in 2020 and has reaffirmed its commitment to helping Africa realise the potential of the African Continental Free Trade Area (AfCFTA) agreement through the additional investment of €6 million (N125.6 million) in a warehouse in South Africa. Covering an area of 10,000 m² near OR Tambo International Airport, the new warehouse will serve as a central hub for Rangel's expanding Contract Logistics offering, as…

CHAMWE KAIRA The Namibia Stock Exchange (NSX) had 12 primary listed companies as at 31 December 2024. The local market capitalisation, representing the total value of locally listed stocks, grew by 1.8% quarter-on-quarter and by 5.2% year-on-year to N$46.4 billion.  The Namibia Financial Institutions Supervisory Authority, said in the 2024 Fourth Quarter report that on a quarter-on-quarter basis, the local index rose by 1.3%, and by 2.9% year-on-year to 691 index points as at 31 December 2024. The value of securities traded declined by 93.1% quarter-on-quarter, and by 155.9% year-on year to N$123.9 million as at 31 December 2024. As…

CHAMWE KAIRA  The Southern African Customs Union (SACU) emerged as the biggest export destination for Namibian goods in February with a share of 30.7% of total exports, the Namibia International Merchandise Trade Statistics Bulletin revealed. BRICS and the OECD followed in second and third positions, contributing 23.7% and 23.3% to Namibia’s total exports, respectively. The Southern African Development Community (SADC), excluding SACU, and the European Union (EU) respectively occupied the fourth and fifth positions, accounting for 18.8% and 17.8% of total exports. Exports to SACU consisted mainly of non-monetary gold, while the export basket to the BRICS market was dominated…

CHAMWE KAIRA  Deep Yellow, which is developing the Tumas Project in Erongo Region, has said the construction schedule has increased from 18 to 24 months and production ramp-up has also increased from six months to a more conservative case of 15 months.  The company said this schedule estimates wet commissioning will be completed within 24 months after Final Investment Decision (FID) decision, with ore processing and production ramp-up commencing thereafter.  Deep Yellow said the first product into drums is anticipated approximately two months after ore processing commences.  “The schedule estimated for Tumas is considered to be conservative and will be…