Observer Money

Chamwe Kaira  Anglo American chief executive officer Duncan Wanblad says the formal process to sell De Beers is advancing, despite current challenging market conditions. Anglo is the majority shareholder in De Beers.  The update is included in the company’s production report for the second quarter ended 30 June. De Beers operates in partnership with the Namibian government through Namdeb Land operations, Debmarine Namibia, and the Namibia Diamond Trading Company. Rough diamond production in the quarter declined by 36% to 4.1 million carats due to a planned response to lower demand.  The group reported that trading conditions remained difficult in the…

Chamwe Kaira  Bannerman Energy reported strong progress at its Etango uranium project during the quarter ended 30 June 2025, with key developments across multiple work streams.  The company is moving toward a positive final investment decision (FID), depending on market conditions. The Etango project is located in the Erongo region, 30 kilometres southeast of Swakopmund. It holds a uranium mineral resource of 207 million pounds of contained uranium oxide. Bannerman achieved one million lost-time injury-free man-hours in June. Early construction works remain on budget and on schedule. The construction power overhead infrastructure has been erected and connected to the grid.…

Chamwe Kaira  Reconnaissance Energy Africa Ltd (ReconAfrica) has announced that it is preparing to spud its Kavango West 1X exploration well in Namibia before the end of July.  The company also confirmed that board member Iman Hill will resign effective 31 July. In a corporate update, ReconAfrica said the drilling rig has been safely mobilised at the site. All required permits have been obtained from regulatory authorities. Final rig assembly and safety checks are currently in progress. The Kavango West 1X well is expected to reach a total depth of about 3,800 meters.  It targets more than 1,500 meters of…

Chamwe Kaira  The Langer Heinrich Mine has announced its 2026 financial year guidance along with realised uranium price sensitivities based on the company’s uranium sales contract portfolio.   Paladin Energy, which holds a 75% interest in the mine, said it will continue ramping up operations throughout the 2026 financial year.  The mine is shifting from processing stockpiled ore to processing primary mined ore. Paladin expects the ramp-up to be completed by the end of the financial year, with full mining and processing operations planned for the 2027 financial year. The remaining portion of the mining fleet is scheduled to arrive in…

Chamwe Kaira  Elevate Uranium managing director Murray Hill says the company’s U-pgrade Pilot Plant marks a pivotal step in its development. The plant is designed to confirm the U-pgrade beneficiation process on a continuous, scalable basis and will operate in Namibia. “Our team has worked diligently to ensure its readiness, and its operation in Namibia is central to validating the process at a continuous, scalable size. As we look to further optimise the development pathway in Namibia, the data and insights collected will be key to the technical studies that we aim to start during the period of pilot plant…

Allexer Namundjembo The Namibian Competition Commission (NaCC) has approved two merger transactions without conditions, finding that neither poses a risk to market competition in the country.  The decisions appear in government gazette No. 8691, dated 17July 2025. The first merger involves Mpact Operations (Pty) Ltd and Seyfert Corrugated Western Cape (Pty) Ltd.  The commission received the merger proposal on 8 April . Mpact produces paper-based packaging in Southern Africa. Seyfert manufactures corrugated packaging. Both companies are based in South Africa.  NaCC examined the potential impact of the merger on the Namibian market, focusing on corrugated boxes and packaging supply.  After…

Allexer Namundjembo The Bank of Namibia (BoN) will host a high-level intergenerational dialogue next month as part of its 35th anniversary celebrations.  The event will bring together current and former governors in a discussion on leadership, policy, and institutional legacy. BoN governor Johannes !Gawaxab will be joined by former governors Tom Alweendo and Iipumbu Shiimi under the theme “Anchored in Stability, Advancing with Transformation.”  The Governors’ Townhall, which will be attended by BoN staff, will explore the evolution of central banking policy and leadership while preserving institutional memory. “The intergenerational dialogue is a unique opportunity to reflect on the leadership…

Justicia Shipena  Sub-Saharan Africa is falling behind global standards in aviation safety. The region has only implemented 59.49% of International Civil Aviation Organisation (ICAO) standards and recommended practices (SARPS) across 46 of 48 states.  This falls short of the global average of 69.16% and well below the target of 75%. In response, the International Air Transport Association (IATA) has called on African governments to act, warning that failure to meet global standards undermines aviation’s role in driving economic growth, job creation, and social development. In a statement on Wednesday, IATA said Africa’s aviation sector contributes USD 75 billion (approximately N$1.4…

Erasmus Shalihaxwe Nedbank Namibia will host its first-ever Future of Business Conference next month at Droombos in Windhoek.  The event targets owner-managed businesses, emerging startups, and small and medium enterprises (SMEs), with a focus on leadership, communication, human resources, and information technology. The bank announced on Tuesday that the conference aims to equip Namibian entrepreneurs with practical tools and knowledge to grow their businesses and drive innovation.  Keynote speakers will include Nedbank group chief executive officer Jason Quinn, Nedbank Africa Head of Marketing Tatiana Ndlovu, and Aurik Co-Founder Pavlo Phitidis. “Namibian businesses are the backbone of our economy, and their…