Observer Money

CHAMWE KAIRA  Bannerman Energy Ltd has appointed Felicity Gooding as a non-executive director, the company has announced.  The company said Gooding is a proven senior finance executive with over 20 years of experience in senior finance and management roles within multinational and ASX-listed organisations, based in both Australia and internationally.  “Her core areas of expertise include strategic and financial analysis, debt funding, corporate finance, mergers and acquisitions and sustainability reporting. She has deep experience across a range of key industry sectors, notably green energy, mining, infrastructure, consumer goods, agriculture and philanthropy,” the company said.  Commenting on Gooding’s appointment, Bannerman executive…

CHAMWE KAIRA  The external debts on the books of Paladin Energy, which owns the Langer Heinrich, are the secured debt facility entered into with Nedbank CIB and Macquarie Bank Limited.  This was contained in the company’s quarterly cash flow report for the period ending 31 December 2024.  The facilities are a US$100 million amortising term loan (term facility) with a 5-year term and a US$50 million revolving credit facility (revolving facility) with a three-year term (with two options to extend by 12 months). CNNC Overseas Limited (CNOL) acquired their interest in Langer Heinrich Uranium (LHU) in 2014 and were assigned…

PIERRE-OLIVIER GOURINCHAS We project global growth will remain steady at 3.3% this year and next, broadly aligned with potential growth that has substantially weakened since before the pandemic. Inflation is declining, to 4.2% this year and 3.5% next year, in a return to central bank targets that will allow further normalisation of monetary policy. This will help draw to a close the global disruptions of recent years, including the pandemic and Russia’s invasion of Ukraine, which precipitated the largest inflation surge in four decades. Though the global growth outlook is broadly unchanged from October, divergences across countries are widening. Among…

HORST SIMON  Namibia, our country of stark desert sand dunes and a breathtaking coastline where the desert meets the ocean, inhabited by a diverse tapestry of cultures, stands on the verge of a remarkable future if we manage risk and exploit the opportunities we have. Thinking futuristic about the year 2090, our country can emerge not just as a country of hope but as a beacon of achievements, innovation, and success in sustainable growth. The story of our transformation will be one of ambition, unity and an unwavering commitment to progress, success, and sustainability. As a country, we face many…

Martin Endjala The Social Security Commission (SSC) has announced that it will increase maternity leave, sick leave, and other benefits as of 1 March. The commission announced this in a notice issued on Friday. This means that registered members will now have to pay more for their social security monthly contribution. It also means that the commission will have more funds to pay out to all members, especially for retirement, sick leave and maternity leave benefits. Last year there were calls to increase the set benefits. As of 1 March, the maximum basic wage ceiling, which is the limit to…

Stefanus Nashama The Namibia Statistics Agency (NSA) has announced that the country's export earnings for November 2024 reached N$12.2 billion, marking a 39.0 percent increase from N$8.8 billion recorded in October of the same year. In contrast, the country’s import bill for the month amounted to N$17.7 billion, a rise of 7.2 percent from N$16.5 billion in the previous month. These figures were released in the Namibia International Merchandise Trade Statistics Bulletin for the month under review, published on Thursday. The trade data reveals an improved trade deficit of N$5.5 billion in November 2024, an improvement from the N$7.7 billion…

CHAMWE KAIRA B2Gold plans to spend a total of US$7 million (N$131 million) for exploration at its Otjikoto mine in 2025. The focus of the exploration programme will be drilling to expand and refine the recently discovered Antelope deposit, located approximately 3 km south of phase 5 of the Otjikoto open pit, with a total of 44 000 meters of drilling planned, the company announced. Gold production at Otjikoto will be weighted towards the first half of 2025 due to the conclusion of open pit mining activities in the third quarter of 2025. For the full year 2025, Otjikoto is…

CHAMWE KAIRA Global oil prices are expected to exceed US$80 per barrel this year. Furthermore, Simonis Storm Securities has said for 2025, it anticipates that Namibia’s headline Consumer Price Index (CPI) will average around 4%, with core inflation stabilising at approximately 4.5%. The firm said the outlook assumes relative stability in global markets and continued monetary easing domestically. However, an expected increase in global oil prices, currently at US$77 per barrel, is projected to exceed US$80 per barrel, driven by heightened geopolitical tensions under the Trump administration. “Such an increase may exert upward pressure on transport costs, with potential spillover…

CHAMWE KAIRA During November 2024, goods worth N$5.8 billion, representing 47.6% of total exports, left the country by sea. The basket of exports via sea comprised mainly of uranium and ‘copper and articles of copper. Goods exported via air accounted for 28.9% of total exports and its export basket was mainly made up of precious stones (diamonds) and non-monetary gold, Namibia Statistics Agency trade figures have revealed. Road transportation accounted for 23.5%, with ‘fruits and nuts,’ petroleum oils and fish being the highest-valued commodities transported via the respective mode. In terms of volume, a total of 337 518 tons of…

CHAMWE KAIRA FNB Namibia has projected that inflation will rise to 3.6% this month and reach 4% in December with a 12-month average of 4% for the year. “We anticipate inflation to tick up in January 2025 due to seasonal adjustments made by the Namibia Statistics Agency in key sub-sectors such as rental inflation. We also expect food inflation to remain stubborn, despite more favourable weather conditions recently, until supply increases during the upcoming harvest,” FNB said. The firm continues to believe that the risks to inflation are tilted to the upside. However, FNB expects inflation to remain below 4.0%…