Blog – Page 265 – News Stand

26 Sep

Choppies revenue reach N$805m

info_e12wt4csFeatured, Observer MoneyChoppies Supermarkets Namibia (Pty) Limited

CHAMWE KAIRA Choppies Supermarkets Namibia (Pty) Limited recorded revenue of Botswana Pula (BWP) 613 million (N$805 million) in the financial year ended 30 June 2024, the company announced. The company is a retailer of fast-moving consumer goods, operating shops around Namibia, Botswana, Zambia and Zimbabwe. Retail sales totaled BWP 612 million, while gross profit totaled BWP 100 million, according to Choppies. In Namibia, the company has assets worth BWP 271 million and liabilities worth BWP 220 million. The company disclosed that Choppies Enterprises Limited has issued guarantees for Choppies Supermarkets Namibia (Pty) Limited valued at BWP 36 million. Choppies Enterprises…

26 Sep

Capricorn bosses benefit from shares

info_e12wt4csObserver MoneyCapricorn Group Limited

CHAMWE KAIRA The Capricorn Group has announced several dealings in securities by several of its directors in a statement issued on the Namibian Stock Exchange (NSX). The announcement marked the culmination of a two-year journey for the directors, as their share awards under the conditional share plan finally vested. According to the NSX notice, Marthinus Johannes Prinsloo, a director of Capricorn Group Limited, exercised his vested shares awarded under the conditional share plan. On 2 September 2022, he had been granted 48 967 shares. Now, with the passing of two years, those shares were ready to be exercised. With the…

26 Sep

‘Laughing and crying eyes’……Osino founder sheds light on selling the company

info_e12wt4csObserver Money

CHAMWE KAIRA Outgoing President and CEO of Osino Resources, Heye Daun has said as a small exploration company with no income, the company was dependent on shareholder funding and equity that came from investors. The company’s flagship is the Twin Hills Gold Project in the Erongo Region. Daun became an entrepreneur in 2010, when he acquired the Otjikoto project. This led to being introduced to Canadian capital markets. He raised money on the Canadian markets and later sold the Otjikoto project to B2Gold of Canada. This proved to Daun that gold mining in Namibia could be successful and contribute to…

26 Sep

Osino created 20 local millionaires

info_e12wt4csObserver MoneyShanjin International of China.

CHAMWE KAIRA Gold mining company, Osino Resources, which had listed on the Namibia Stock Exchange (NSX) in September created about 20 Namibian millionaires. Osino has since delisted on the NSX after it was bought by Shanjin International of China. Osino’s founder, Heye Daun said the company had a lot of Namibian shareholders and that it had raised N$45 million during its listing on the NSX. “We have created a lot of wealthy people, some of them were our own staff members, they took risks, worked hard and made their money,” explained Daun. He said in terms of value addition, company…

26 Sep

Bannerman’s financial remain solid

info_e12wt4csObserver MoneyEtango Mining Licence

CHAMWE KAIRA Bannerman Energy Ltd’s financial position remained solid in the financial year ended 30 June 2024. As of 30 June 2024, its cash balance stood at 24 million Australian dollars (A$), bolstered by the successful raising of A$85 million through a two-tranche placement to institutional and sophisticated investors. The first tranche of A$75.7 million was received in early July, and the second tranche of A$9.3 million was received in mid-August 2024. Executive chairman Brandon Munro said this in the 2024 annual report, which highlighted a year of disciplined execution of its strategy. Munro said Bannerman made significant strides in…

26 Sep

Paratus invested N$204m in infrastructure

info_e12wt4csObserver MoneyCable Landing Station, Equiano subsea cable, Telecommunication Equipment

CHAMWE KAIRA For the year ended 30 June 2024, Paratus Namibia invested N$204.7 million in infrastructure compared to N$450.6 million in 2023, the company said in financial results. The number of new sites and fibre in new areas were limited to focus on the sign-up of new customers on the existing infrastructure. During this financial year, N$111m was invested towards capacity expansion, customer access of the current network and the expansion of the LTE network. During the 2023 and 2024 financial years, N$42.2 million was invested by the company, in conjunction with Paratus Botswana, for the construction of the fibre…

26 Sep

Tourism registers steady growth

info_e12wt4csObserver Money

Namibia’s tourism sector exhibited resilience and steady growth in August, bolstered by a diverse mix of both regional and international visitors. European tourists, in particular, were a driving force, with their share of international arrivals increasing to 70.28%, up from 66.33% in July 2024. This upward trend underscores Namibia’s growing appeal as a leisure destination for European travellers, emphasising the importance of tailored marketing strategies aimed at this key demographic. The continued dominance of holiday and leisure travel presents opportunities for further infrastructure development to enhance the visitor experience and maintain positive momentum. However, as a significant portion of Namibia’s…

25 Sep

Amupanda accuses Swapo of deceiving public on red line removal

info_e12wt4csNational Newsveterinary cordon fence

Erasmus Shalihaxwe Affirmative Repositioning (AR) movement leader, Job Amupanda described the government's recent announcement to gradually remove the red line as nothing more than an election tactic aimed at securing votes in the upcoming elections by the ruling party, Swapo. He said this during his party’s media conference in Windhoek on Wednesday. “The red line represents the weakest moment for any freedom fighter in Namibia's history. To have any freedom fighter or a political organisation that purports to have fought for freedom to be defending the red line is part of the lowest point you can ever find,” said Amupanda.…

25 Sep

Three NDF recruits died during training

info_e12wt4csMainFrans Kapofi, Osona Training Base in Okahandja

Stefanus Nashama Three recruits of the 17th intake died during the Namibian Defence Force's basic training. The minister of defence and veterans affairs, Frans Kapofi, made this revelation during the official graduation ceremony of the 17th intake at the Osona Training Base in Okahandja on Wednesday. “It is also unfortunate and regrettable that three recruits passed away during the course of their training,” he said. The three deceased recruits are all from Hardap Region. Two died during training while the other was stabbed to death in Windhoek while on a break. According to NDF spokesperson, Colonel Petrus Shilumbu, some candidates…

25 Sep

Oshana netball players forced to fund own league

info_e12wt4csSportsOshana Netball Association

Hilarius Hamutenya Netball in the Oshana region is grappling with financial difficulties due to a lack of sponsorship, according to Oshana Netball Association chairperson, Foibe Neliwa. “We are facing big challenges, and we currently have a committee where every member contributes N$100 to support netball. Unfortunately, we do not have enough sponsors to assist us,” Neliwa stated. Joleni Shipopyeni, the goal shooter for Afrocat Lions Oshana, reflected on her journey in netball, which began in Ongudi village in the Omungwelume-Ongenga constituency. Her exposure to the sport grew during her time at Gabriel Taapopi Senior Secondary School in 2003-2004, where she…