Observer Money – Page 109 – Windhoek Observer

15 May

Langer Heinrich hits high production output

Observer Money

Chamwe Kaira The Langer Heinrich Mine (LHM) processed more than 900 000 tonnes of ore during the March 2025 quarter. This marked the highest throughput since the mine restarted operations. The plant achieved an average recovery rate of 88%, which is within the company’s target. Paladin Energy, the mine’s operator, said it produced 745,484 pounds of uranium oxide in the March quarter. This was a 17% increase from the previous quarter and the highest quarterly output since the restart. Total uranium oxide production for the nine months ending 31 March stood at two million pounds. During the March quarter, the…

15 May

Otjikoto projects gold output of up to 185 000 ounces

Observer Money

Chamwe Kaira The Otjikoto Mine is expected to produce between 165,000 and 185,000 ounces of gold in 2025. Cash operating costs are forecast between US$695 (approximately N$12 931) and US$755 (approximately N$14 054) per ounce. All-in sustaining costs are projected between US$980 (approximately N$18 243) and US$1 040 (approximately N$19 366) per ounce. Production will be higher in the first half of the year. Open-pit mining is scheduled to end in the third quarter of 2025. The mine will process 3.4 million tonnes of ore in 2025, with an average grade of 1.63 grams per tonne and a gold recovery…

15 May

Africa’s cybersecurity skills gap is a business problem

Observer Money

Allan Juma Africa’s cybersecurity skills shortage is not just a technical staffing issue; it’s an urgent business emergency that threatens to derail the continent’s digital transformation entirely. Estimates point to a shortfall of hundreds of thousands of skilled professionals, with many businesses relying solely on overwhelmed generalist IT teams to battle increasingly sophisticated cyberthreats. Others simply remain unprotected. Either way, the risk of cyberattacks continues to grow, posing a critical threat to business continuity. Cybersecurity breaches cost African businesses US$3.5 billion annually and billions more from missed opportunities caused by reputational damage. Particularly for industries that work with sensitive data,…

14 May

FDI surges beyond oil and gas, totaling N$56 billion

Observer Money

Allexer Namundjebo Over N$56 billion of Namibia's recent Foreign Direct Investment (FDI) inflows have gone beyond oil and gas. This, according to Deputy Minister of International Relations and Trade, Jenelly Matundu, highlights a strong interest in sectors like tourism, agribusiness, and digital technology. Matundu was speaking at the launch of Namibia’s first-ever FDI Report, released by the Bank of Namibia (BoN) and the Namibia Investment Promotion and Development Board (NIPDB) on Tuesday. Matundu said the report reflects Namibia’s commitment to economic transparency. “This publication is not just a compilation of data. It symbolises our commitment to economic transparency and presents…

13 May

Technical training opens doors for unemployed youth

Observer Money

Hertta-Maria Amutenja Eight young Namibians have secured internships after completing a two-week technical training program through CodeConnect Namibia, run by the non-profit organisation African Connection. The training was conducted under the Binary Program, in partnership with Document Warehouse. Participants were introduced to the company’s systems and records management tools. Boitshepo Pieters, operations manager at The African Connection, said the initiative aims to address a lack of opportunities in the technology sector. “The African Connection was inspired by the need to bridge the gap between ambition and opportunity for Namibia's youth. Recognising the global shift towards technology-driven economies, the organisation aimed…

13 May

Caltex re-enters Namibian market under new partnership

Observer Money

Niël Terblanché The Caltex fuel brand has officially returned to the Namibian market with the launch of a newly rebranded service station in Windhoek, operated by Bachmus Oil and Fuel Supplies (Pty) Ltd. The new service station, located in the Southern Industrial area, represents the first of several planned outlets to operate under the Caltex brand following a strategic partnership between Bachmus and Chevron Brands International LLC. The managing director of Bachmus, Corne van Schalkwyk, said that Caltex has long-standing ties to Namibia. “This is a proud and historic moment for Bachmus. The Caltex brand holds a special place in…

13 May

EU invests N$1 million in local crafts

Observer Money

Justicia Shipena The European Union delegation to Namibia has invested N$1 million to support local crafters in the Khomas and Zambezi regions. This investment was made through the EU-Namibia Craft Project, under the Cultural Relations Platform. In this regard, 11 elected artisans took part in a workshop at the Penduka Training Centre in Windhoek. The training focused on product development, pricing, packaging and storytelling. Artisans gained hands-on experience in turning their ideas into market-ready products, especially in jewellery, beadwork and corporate gifts. “This workshop has helped build those foundations. We are investing N$1 million to support local crafters in the…

13 May

Pepkor merger could strengthen market dominance

Observer Money

Justicia Shipena The Namibian Competition Commission (NaCC) says the Pepkor Holding merger with national clothing retailer Big Daddy Clothing will strengthen an already dominant market position. The NaCC said it could also give the merging parties the ability to facilitate coordination. On Tuesday, the commission announced the approval of 13 mergers, following a meeting held on 8 May 2025. The first merger involves JD Financial Services Proprietary Limited acquiring the retail furniture segment of OK Bazaars Namibia Ltd, including the Furniture Debtors Book. JD Financial Services, which operates across various sectors such as retail, fintech, and strategic services, has extended…

12 May

BoN to conduct currency review in the next three months

Observer Money

Allexer Namundjembo The Bank of Namibia (BoN) will embark on a comprehensive national currency review within the next three months. The review is aiming to assess and improve the materials, design, and production processes of the country’s banknotes and coins. This was announced by BoN Governor Johannes !Gawaxab during the launch of the upgraded N$50 banknote in Windhoek on Monday. The review, he said, is intended to enhance cost-efficiency and durability across all denominations in circulation. “As a final note, we call on all Namibians to handle their money responsibly. Defacing or mutilating banknotes contributes to unnecessary replacement costs and…

09 May

Afrail appoints Steytler to its global advisory board

Observer MoneyDevelopment Bank of Namibia (DBN), Dr John Steytler

STAFF WRITER Afrail Inc, a premier infrastructure and smart mobility company pioneering eco-friendly transit systems across Africa, the Middle East, and the United States, has appointed Dr John Steytler to its global advisory board. Steytler, former CEO of the Development Bank of Namibia (DBN), and Namibia’s first Statistician General, is one of Namibia’s leading and most accomplished economists. He brings decades of expertise in economic policy, statistical systems, and development finance, having also served at the Bank of Namibia and the International Monetary Fund (IMF). He also previously served as economic advisor to the Presidency of the Republic of Namibia,…