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Chamwe Kaira The Producer Price Index (PPI) for production recorded declines in the second quarter, dropping by -3.1% quarter-on-quarter and -2.5% year-on-year. The drop was mainly driven by falling manufacturing prices, which contracted by 9.3% compared to the previous quarter. Statistician general and Namibia Statistics Agency (NSA) chief executive officer, Alex Shimuafeni, said the annual decline was mostly influenced by lower prices in the mining and quarrying sector, which fell by 5.1%. The PPI tracks average changes in prices received by domestic producers for goods and services sold locally and abroad. Despite the annual decline, the index for mining and…

Chamwe Kaira The Bank of Namibia’s government bond auction on Wednesday recorded bids over  N$3 billion against an initial offer of N$2 billion. The GC35 recorded  the highest demand, with tenders of N$585 million, or 24% of the total. Allocations reached N$312 million, double the initial offer of N$160 million.  The GC40 also drew interest of N$214 million against an offer of N$140 million, but no allocation was made. Across the GC board, N$1.5 billion was offered, yet N$1.7 billion was allocated, resulting in an overallocation. “It is interesting to note that the GC40 also attracted significant interest of N$214…

Chamwe Kaira Windhoek Gymnasium, Walvis Bay Gymnasium and Oshana Gymnasium, the three schools jointly owned by Johannesburg Stock Exchange (JSE)-listed Curro Holdings Limited, could soon have a new owner. Curro announced to shareholders on the JSE that its board has received a firm intention offer from the Jannie Mouton Trust.  The trust, through Stigting, plans to acquire all issued Curro shares and delist the company from the JSE. Billionaire Jannie Mouton, founder of PSG Group and Capitec, owns the trust and has offered N$7.2 billion for the shares. He established the trust in 2004 to invest in education. Since then,…

Chamwe Kaira  HyIron Green Technologies (Pty) Ltd will explore sourcing high-potential iron ore domestically and process it using its established green hydrogen-powered technology under a new Memorandum of Understanding (MoU) signed with Broadmind Mining (Pty) Ltd and the Namibia Green Hydrogen Programme (NGH2P). The agreement aims to build a sustainable, low-carbon green industrial value chain in Namibia.  It will also strengthen the country’s mineral beneficiation capacity and support its goal of becoming a green industrial hub in Africa. The partnership will focus on Broadmind’s critical mineral assets, including rare-earth elements and iron ore, alongside HyIron’s green direct reduced iron (DRI)…