Observer Money

Chamwe Kaira  Paladin Energy says its Langer Heinrich Mine produced 993,843 pounds of uranium oxide during the quarter ending 30 June, a 33% increase from the previous quarter.  This marks the highest quarterly output since the mine restarted operations, bringing total production for the financial year to 3 million pounds. During the same quarter, the mine sold 710,051 pounds of uranium oxide, with total sales for the year reaching 2,705,693 pounds.  Paladin also signed one new uranium sales agreement in the quarter, bringing its total to 13 agreements with tier-one customers in the US, Europe, and Asia. The company achieved…

Hertta-Maria Amutenja  Namibia has recorded the highest tax-to-GDP ratio on the continent for the second year in a row, according to data from the African Tax Administration Forum (ATAF). This was revealed by Namibia Revenue Agency (NamRA) commissioner and ATAF vice chairperson Sam Shivute during a panel discussion at the ATAF Heads of Tax Administrations Leadership Masterclass, which is taking place this week in Rabat, Morocco. Shivute said the country's performance results from a series of domestic reforms and strategic interventions undertaken in recent years. During the panel session titled 'Embracing Collaboration and Enhanced Transparency for Domestic Resource Mobilisation', he…

Hanks Saisai Namibia is home to many communal areas under the administration of Traditional Authorities. The country's aspirations of achieving food security and the crucial role of land in this endeavour, emphasise the influence of Traditional Authorities in overseeing land for Agricultural Production. For instance, during a recent potato harvest, King Omukwanilwa Fillemon Nangolo and the leadership of the Ondonga Traditional Authority demonstrated the vital role these authorities play in agriculture. Land is considered a crucial factor of production in any agricultural business. To this end, Traditional Authorities that oversee communal land are essential stakeholders that can help transform communal…

Justicia Shipena  Forty entrepreneurs will be pitching their businesses in the final edition of the Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED).  The entrepreneurs were selected from 116 applications received across the Omaheke, Otjozondjupa, Omusati, and Kunene regions and will now participate in regional business visits. The shortlisted entrepreneurs, drawn from Omaheke, Otjozondjupa, Omusati, and Kunene, will now participate in regional business visits.  During this phase, judges will meet them in person to assess their businesses and evaluate their impact on local communities. The process begins in the Omaheke Region. This year marks the final edition of OM…

Allexer Namundjembo MTC has announced plans to open new  mobile homes in northern Namibia this year, with a focus on Katima Mulilo, Divundu, and Rundu, as demand for telecommunications services continues to grow. The announcement was made during the launch of the company’s 38th mobile home in Omuthiya on Friday.  MTC’s chief commercial officer, Octivious Kahiya, said the expansion responds to rising business activity and population growth in the north-eastern regions. “Within this calendar year, we anticipate opening stores in the North East due to the increase in business and SME sectors and the overall population growth. Emphasis will be…

Chamwe Kaira TransNamib says it is working closely with stakeholders, funders, and technical advisors to review and update its procurement strategy after the cancellation of its earlier locomotive tender.  The updated approach aims to ensure compliance, value for money, and alignment with operational needs. The company has been instructed by the government to diversify its locomotive fleet. To support this, TransNamib is sourcing a rail consultant to help guide the process. A new procurement approach for acquiring 23 locomotives is currently being developed.  The process is expected to be relaunched in the coming months, pending approval from financiers and governance…

The Namibia Special Risks Insurance Association (Nasria) has disclosed that during the 2024 financial year, its total assets increased to N$869 million, and its net profit exceeded N$100 million for the first  In 2024, Nasria restructured its investment portfolio and appointed six new investment managers to lead a sustainable growth strategy. As a result, insurance revenue increased by 6%, rising from N$79 million in 2023 to N$84 million in 2024. The growth was driven mainly by policy renewals and new business. Nasria’s executive of marketing, Ndapona Schleberger, spoke to Observer Money about the association’s evolving role in the insurance industry.…

Chamwe Kaira Rosh Pinah Zinc says its Rosh Pinah 2.0 expansion project has reached 75% completion.  The construction of the paste fill and water treatment plants is finished, and both are now being commissioned. “It is anticipated that both these plants will be handed over to operations early in the first quarter of 2025,” the company said. The underground piping and boreholes needed to distribute paste to the first trial stope have been installed. Barricading for the stope is complete, and all control instruments have been connected to the new control system through SCADA. The company said earthworks and civil…