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The board of Anglo American has rejected a proposal from BHP Group Limited to take over Anglo American. Anglo American owns De Beers, which has several partnerships in Namibia with the government in Debmarine Namibia, Namdeb Holdings and the Namibia Diamond Trading Company. The proposal comprised an all-share offer for Anglo American by BHP, with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. “The board has considered the proposal with its advisers and concluded that the proposal significantly undervalues Anglo…

Shareholders of Standard Bank Namibia have approved the appointment of Isac Tjombonde as the board chairman of SBN Holdings Limited and Standard Bank Namibia Limited with effect 1 April. The other directors appointed to the board are Josephat Mwatotele, Gerald Riedel, Erwin Tjipuka (chief executive (executive director), Siphiwe Themba Bruce Madonsela (non-executive director), and Arlington Tendai Matenda (chief financial officer). “The shareholders are hereby provided with the outcome of the votes, where shareholders via proxy voted on the following resolutions prior to the meeting. The total Shares in issue are: 522,471,910, and resolutions were voted on by 493, 863, 919…

Namibia exported ‘live sheep, meat and sheep products’ valued at N$97,3 million in March which was mostly destined to South Africa. Over the entire period (March 2023 to March 2024), the value of ‘live sheep, meat and sheep products’ exported averaged N$72,5 million with the largest value of N$ 118,4 million recorded in April 2023 and the lowest value recorded in January 2024 at a value of N$32,6 million. On the demand side, Namibia imported ‘live sheep, meat and sheep products’ valued at N$ 200 000 during the month was mostly sourced from South Africa, the Namibia Statistics Agency said.…

Momentum Metropolitan Namibia, a subsidiary of Momentum Metropolitan Holdings has announced robust earnings for the interim results six months ending 31st December 2023. The company said despite challenges, the group’s performance reflects resilience and adaptability, with solid contributions from Namibia. The results showed that the Momentum Metropolitan Africa experienced a notable increase in normalised headline earnings, reaching R284 million, a testament to the group’s robust performance. This growth was particularly bolstered by enhanced investment income from Namibia, showcasing the significant contribution of the Namibian market to the group’s overall success, the company said. Sakaria Nghikembua, CEO of Momentum Metropolitan Namibia,…

Bannerman Energy Ltd, which is developing the Etango project in the Erongo region has said uranium sector saw significant volatility in the first quarter of 2024. Bannerman said TradeTech's spot price indicator, which began the year at US$91.00 per pound of uranium oxide rose to US$107 per pound in early February before falling to US$87.00 by the end of the quarter. TradeTech's long-term uranium oxide price indicator showed consistent monthly growth during the quarter, increasing by 17% from US$68 per pound to US$80 per pound at the end of March. This brought the long-term indicator to a 15-year high. The…

The International Air Transport Association (IATA) released data for March of global air cargo markets showing continuing strong annual growth in demand. Total demand, measured in cargo tonne-kilometers (CTKs), rose by 10,3% compared to March 2023 levels (11,4% for international operations). This is the fourth consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7,3% compared to March 2023 (10,5% for international operations). “Air cargo demand grew by 10,3% over the previous March. This contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the…