Observer Money

Mallex Shipanga  The Namibia University of Science and Technology (NUST) has launched the country’s first Bloomberg Finance Lab in collaboration with Mobile Telecommunications Limited (MTC) and the Namibia Investment and Finance Academy (NIFA). Set to open in February at NUST’s High-Tech Transfer Plaza Select, the lab will be equipped with 12 Bloomberg Terminals—computer software systems that provide real-time analytics, data, and news. It will offer both undergraduate and graduate students the skills necessary for a career in finance. Through this lab, students will have the opportunity to earn globally recognised certifications, enhancing their competitiveness in the job market. “The Bloomberg…

Niël Terblanché The Namibian Petroleum Operators Association (NAMPOA) has elected a new board at its recent Annual General Meeting (AGM), positioning the organisation for a crucial role in Namibia’s rapidly expanding oil and gas sector. With Namibia’s oil and gas sector on the verge of significant growth, the newly elected NAMPOA board has pledged to continue advocating for industry best practices and fostering an investment-friendly environment. The newly elected board comprises distinguished industry leaders, including Klaus Endresen, Country Chair of BW Kudu; Eduardo Rodriguez, Shell Namibia Country Chair; Diogo Martins, Galp Country Manager; Selma Usiku, Eco Atlantic Director; and Laurent…

Niël Terbalnché The global air cargo market experienced an unprecedented surge in 2024, surpassing previous records and reinforcing its critical role in global trade. The International Air Transport Association (IATA) released its full-year report, highlighting an 11.3% year-on-year increase in demand, with international operations rising by 12.2%. According to IATA, the growth was attributed to a combination of robust e-commerce demand and ongoing disruptions in ocean shipping, which forced businesses to turn to air freight as a reliable alternative. Despite a slight decline in average yields compared to 2023, overall earnings remained 39% higher than pre-pandemic levels in 2019. IATA…

The Bank of Namibia has said its GDP growth projections, which extend to 2026, do not anticipate the production of oil mines or the commencement of oil production within this period, and as such, Shell's US$400 million write-down of an offshore oil discovery in Namibia does not impact these projections. These sentiments were expressed by Kazembire Zemburuka, Director of Strategic Communications and International Relations. Zemburuka was responding to questions by Observer Money on the recent announcement by Shell to write down $400m related to an oil discovery made in Petroleum Exploration License (PEL) 39.  Observer Money (OM): How does the…

CHAMWE KAIRA Paratus Namibia Holdings Limited has announced changes to the board of directors with effect from 23 January. Hans-Bruno Gerdes has retired as an independent non-executive director of the company. Gerdes was the chairman of the board of directors of the company and a member of the remuneration and nominations committee and audit, risk and compliance committee. “The board would like to extend its appreciation to Mr Gerdes for his commitment and service to the company over the years,” the company said. The company further announced that Heinrich Jansen van Vuuren has been appointed as a non-executive director of…

JAIRUS KAPENDA As Namibia embraces the digital age, the proliferation of electronic devices has become a double-edged sword. While technology offers unprecedented opportunities for connectivity and innovation, it also generates a growing problem, electronic waste (e-waste). E-waste refers to discarded electrical and electronic devices that are no longer in use or have reached the end of their life cycle. This includes items such as old computers, mobile phones, televisions, refrigerators, and other consumer electronics. As part of its mandate, CRAN recognises the importance of addressing the growing challenge of e-waste. The Authority has taken a proactive approach to educate the…

CHAMWE KAIRA  Reconnaissance Energy Africa Ltd has announced that, further to its announcements on 16 July and 30 July, it has completed the farm-down agreement with BW Energy Limited.  The sale of a 20% working interest in Petroleum Exploration Licence 73 (PEL 73), in northeast Namibia, has been approved by the Namibian Ministry of Mines and Energy and Namcor Exploration and Production.  The working interests in PEL 73 are now ReconAfrica, the operator, with a 70% working interest, while BW Energy has a 20% working interest and NAMCOR has a 10% working interest.  Brian Reinsborough, President and CEO, commented: “We…

CHAMWE KAIRA  Mobile Telecommunications Limited (MTC) Ltd is expected to hold its Annual General Meeting in Windhoek on 28 February, the company said in a stock exchange notice. The AGM is expected to consider and if thought fit, to pass a number of ordinary resolutions. These include considering and adopting the audited financial statements of the company and the group and the reports of the directors and auditors for the year ended 30 September 2024. The meeting is also expected to pass the resolution to confirm the final ordinary dividend of 49.27 cents per ordinary share. Also on the agenda…

CHAMWE KAIRA  Bannerman Energy Ltd has confirmed that it has secured supply contracts to cover construction water and power requirements for its Etango uranium project in the Erongo region. In a quarterly update for the period ending 31 December 2024, the company announced that negotiations for life-of-mine operational water and power supply contracts have progressed as required and are now at an advanced stage. Regarding water supply, the company said operational water for Etango will be sourced from NamWater and supplied from desalinated sources to the base reservoir in Swakopmund. From there, the planned permanent Etango water supply infrastructure consists…

CHAMWE KAIRA  B2Gold Corp has announced an offering of convertible senior unsecured notes due in 2030, with an aggregate principal amount of US$350 million.  The company expects to grant initial purchasers an option for 15 days to acquire up to an additional US$52.5 million in notes. According to B2Gold, the net proceeds from the offering will be used to fund working capital requirements and for general corporate purposes.  Initially, the funds will be used to pay down the outstanding balance on the company’s revolving credit facility. Future draws on the facility will then be used to support working capital and…