Observer Money

Bannerman Energy Ltd, which is developing the Etango project in the Erongo region has said uranium sector saw significant volatility in the first quarter of 2024. Bannerman said TradeTech's spot price indicator, which began the year at US$91.00 per pound of uranium oxide rose to US$107 per pound in early February before falling to US$87.00 by the end of the quarter. TradeTech's long-term uranium oxide price indicator showed consistent monthly growth during the quarter, increasing by 17% from US$68 per pound to US$80 per pound at the end of March. This brought the long-term indicator to a 15-year high. The…

The International Air Transport Association (IATA) released data for March of global air cargo markets showing continuing strong annual growth in demand. Total demand, measured in cargo tonne-kilometers (CTKs), rose by 10,3% compared to March 2023 levels (11,4% for international operations). This is the fourth consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7,3% compared to March 2023 (10,5% for international operations). “Air cargo demand grew by 10,3% over the previous March. This contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the…

Erasmus Shalihaxwe Labour expert Herbert Jauch, says the mining company Namdeb's decision to employ 171 workers on a fixed-term contract is a poor labour practice that disadvantages the affected workers. Jauch said this on Monday during an interview with Windhoek Observer while reacting to Namdeb chief executive officer Riaan Burger’s revelation that the diamond mining company has 1684 workers on permanent contracts and 171 fixed-term contracts. “I do not know the specific reasons why so many workers are employed on fixed-term contracts at NAMDEB. It is certainly a poor labour practice that disadvantages the affected workers,” said Jauch. Jauch said…

Niël Terblanché Ongoing growth in the Lüderitz energy market has necessitated the expansion of airline services for daily travel between Windhoek and Namibia’s secondary port. Since the service was introduced by FlyNamibia last July, about 5,000 passengers have flown between Windhoek and Lüderitz. French multinational oil giant, TotalEnergies was instrumental in implementing the service. FlyNamibia managing director Andre Compion said: “Our enduring partnership with TotalEnergies enables us to continuously adapt and offer the best service to our customers.” According to Compion, the new service would not have been possible without TotalEnergies, who was the driving force behind unlocking access to…

Hertta-Maria Amutenja The Ministry of Mines and Energy on Friday announced that petrol prices are set to increase by 70 cents per litre. Similarly, both types of diesel will increase by 40 cents per litre. In Walvis Bay, the new prices will stand at N$23.00 per litre for petrol, N$22.17 per litre for diesel 50 ppm, and N$22.37 per litre for diesel 10 ppm. The increases are slated to take effect in the first week of May. The ministry stated that adjustments in fuel prices across other regions of Namibia will be made accordingly. These changes come as the Ministry…

Martin Endjala The Bank of Namibia (BoN) on Friday launched the Instant Payment Project initiative that is set to revolutionise financial services across Namibia. The BoN Governor, Johannes !Gawaxab said the project aims to introduce an instant payment solution that is efficient, instantly accessible and designed for inclusivity. "The project aims to significantly broaden financial inclusion by providing essential and affordable financial services to all whilst focusing on the rural and informal sectors which face logistical and financial challenges in accessing conventional banking services," he said The targeted rollout is 2025. !Gawaxab explained that the platform will be accessible from…

Niël Terblanché The parliamentary standing committees on natural resources, economics, and public administration have called attention to what they perceive as inadequate efforts by mining companies in Namibia regarding their corporate social responsibilities. The findings, which stem from a series of meetings last year to enhance the sectors' contributions to the nation's development goals, were recently presented in the National Assembly. According to the chairperson of the parliamentary standing committee on natural resources, Tjekero Tweya, it has come to light that the execution of corporate responsibilities by mining firms is voluntary rather than legally enforced. “The findings raised some questions…

Martin Endjala NamPower inaugurated the newly constructed Auas-Gerus 400 kV transmission line that runs from the Auas transmission station outside Windhoek to the Gerus transmission station near Otjiwarongo. The line valued at N$870 million was inaugurated on Friday. NamPower’s managing director, Kahenge Haulofu said this will enable the power utility to continue delivering on its mandate, by ensuring continued and reliable power supply. "The transmission line will allow for an increased transfer capacity to NamPower's transmission customers and will enhance the company's ability to trade electricity between other countries within the Southern African Power Pool (SAPP)," said Haulofu. He said…

CHAMWE KAIRA New TransNamib Holdings CEO, Desmond van Jaarsveld believes that leading the stateowned enterprise presented a chance for him to contribute to the growth and development of Namibia's logistics sector. “I was particularly drawn to TransNamib's strategic vision and its potential for transformation. My goal is to build upon this vision by shaping and executing strategic initiatives that drive positive change and enhance operational efficiency,” he said in an interview. He added that serving as the CEO of such a key state-owned enterprise reflects his commitment to contributing to national development and infrastructure improvement in Namibia. “My primary motivation…