Observer Money

Bannerman Energy Limited has announced changes to its board and key executive roles, effective from early March 2024, in further preparation for planned development of its flagship Etango Uranium Project in Namibia. After almost 15 years of dedicated service, Ronnie Beevor will be retiring from the Bannerman Board. Bannerman’s current Managing Director and CEO, Brandon Munro, will assume the role of Executive Chairman. Alison Terry will be appointed as Lead Independent Director and Gavin Chamberlain is to be promoted from Chief Operating Officer to the Company’s Chief Executive Officer. Bannerman Executive Chairman-elect, Brandon Munro said the changes are designed to…

The International Air Transport Association (IATA) released data for global air freight markets showing that air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties. Full-year demand reached a level just slightly below 2022 and 2019. Global full-year demand in 2023, measured in cargo tonne-kilometers (CTKs), was down 1.9% compared to 2022 (-2.2% for international operations). Compared to 2019, it was down 3.6% (-3.8 for international operations. Capacity in 2023, measured in available cargo tonne-kilometers (ACTKs), was 11.3% above 2022 (+9.6% for international operations). Compared to 2019 (pre-COVID) levels, capacity was up 2.5% (0.0%…

African airlines’ annual traffic rose 38.7% in 2023 compared to the prior year. Full year 2023 capacity was up 38.3% and load factor climbed 0.2 percentage points to 71.9%, the lowest among regions. December 2023 traffic for African airlines rose 9.5% over December 2022, the International Air Transport Association (IATA) said. IATA announced that the recovery in air travel continued in December 2023 and total 2023 traffic edged even closer to matching pre-Total traffic in 2023 (measured in revenue passenger kilometers or RPKs) rose 36.9% compared to 2022. Globally, full year 2023 traffic was at 94.1% of pre-pandemic (2019) levels.…

Niël Terblanché Namibia's premier private tourism operator, the Gondwana Collection, has launched another round of its transformative Go4Gold program. This initiative aims to challenge deep-seated fears and personal convictions, promising life-altering positive changes for those who fully commit to the process. Gys Joubert, the CEO of the Gondwana Collection, explains that the company's success is rooted in its commitment to investing in people and fostering a culture of transparency, which forms the foundation of its organizational philosophy. In this nurturing environment, every team member is encouraged to play a meaningful role, contributing to the collective success of the organization. The…

CHAMWE KAIRA Paladin Energy Limited has announced that it executed a US$150 million syndicated debt facility (debt Facility) this week. The debt facility will provide Paladin with capital flexibility as the company recommences operations at the Langer Heinrich Mine (LHM) in Namibia and progresses its growth options, including progressing the Michelin exploration project in Canada. Paladin said the execution of the debt facility marks the successful completion of a comprehensive syndication process, including LHM site visits by independent technical and environmental experts and financier teams, corporate due diligence and an international syndication process. Paladin said it had executed the debt…

Chamwe Kaira The Walvis Bay Corridor Group (WBCG) plans to conduct a study on the competitiveness of the Walvis Bay Corridors. The Group in conjunction with the transport and logistics industry is seeking a consultant to conduct a study on the competitiveness of the Walvis Bay Corridors. The objective of the consulting exercise is to look at the competitiveness of the corridors and the assessment of tariff and non-tariff barriers and infrastructure in non-tariff barriers, tariff Barriers and infrastructure deficit. The Group said road transport related Infrastructure is a key enabler for intra-regional and international trade. The Group said it…

CHAMWE KAIRA The uranium market showed further significant movement and positive dynamics over the quarter ending 31 December 2023. Bannerman Energy Ltd, which was recently awarded a mining licence for its Etango Uranium Project in the Erongo Region said this week COP28 significantly changed the global perception of the nuclear energy sector. The uranium spot price increased during the quarter from US$73 per pound to US$91 per pound subsequently passing through US$100 per pound in early January 2024. The conference, which has been referred to as the 'Nuclear COP', saw over 20 countries, including the United States, France, Japan, and…

Namibia imported good worth N$323 million from Liberia during the period 2015 to 2022, the Namibia Statistics Agency (NSA) said. Namibia during the same period exported goods worth N$95.7 to Liberia the agency said. The NSA has been highlighting Namibia’s trade with African countries as the continent as part of the promotion of the African Continental Free Trade Area (AfCFTA). The AfCFTA is one of the flagship projects of Agenda 2063, The Africa We Want. It is a high ambition trade agreement, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection,…

Namibia's strides in the electric vehicle (EV) sector, while aligned with its green hydrogen initiatives, face substantial challenges, particularly in infrastructure development and cost, Simonis Storm Securities said. It said introduction of the high-end GWM ORA 03 300 Super Luxury by Pupkewitz GWM showcases innovation in sustainable transportation, yet its high price of N$699,900 highlights the economic barriers in adopting EVs. “This cost factor raises significant concerns about the accessibility of EV technology to the wider population,” the firm said. It said the lack of a robust EV charging infrastructure in Namibia presents a considerable obstacle. “Despite advancements in renewable…

Tsodilo Resources Limited, which has several mining ventures in Botswana, some close to the Namibian border is hopeful that its legal issues in Botswana will be resolved in short time so that the company can resume the evaluation and development of the Xaudum Iron Formation (XIF) project. The project is located in the North-West District of Botswana and extends for a known length of some 40 kilometers. The XIF is proximate to the Namibian border and 35km from the town of Divundu in Namibia. The XIF Project is a magnetite iron prospect. It takes its name from the Xaudum River…