Observer Money – Page 72 – Windhoek Observer

26 Sep

‘Laughing and crying eyes’……Osino founder sheds light on selling the company

Observer Money

CHAMWE KAIRA Outgoing President and CEO of Osino Resources, Heye Daun has said as a small exploration company with no income, the company was dependent on shareholder funding and equity that came from investors. The company’s flagship is the Twin Hills Gold Project in the Erongo Region. Daun became an entrepreneur in 2010, when he acquired the Otjikoto project. This led to being introduced to Canadian capital markets. He raised money on the Canadian markets and later sold the Otjikoto project to B2Gold of Canada. This proved to Daun that gold mining in Namibia could be successful and contribute to…

26 Sep

Osino created 20 local millionaires

Observer MoneyShanjin International of China.

CHAMWE KAIRA Gold mining company, Osino Resources, which had listed on the Namibia Stock Exchange (NSX) in September created about 20 Namibian millionaires. Osino has since delisted on the NSX after it was bought by Shanjin International of China. Osino’s founder, Heye Daun said the company had a lot of Namibian shareholders and that it had raised N$45 million during its listing on the NSX. “We have created a lot of wealthy people, some of them were our own staff members, they took risks, worked hard and made their money,” explained Daun. He said in terms of value addition, company…

26 Sep

Bannerman’s financial remain solid

Observer MoneyEtango Mining Licence

CHAMWE KAIRA Bannerman Energy Ltd’s financial position remained solid in the financial year ended 30 June 2024. As of 30 June 2024, its cash balance stood at 24 million Australian dollars (A$), bolstered by the successful raising of A$85 million through a two-tranche placement to institutional and sophisticated investors. The first tranche of A$75.7 million was received in early July, and the second tranche of A$9.3 million was received in mid-August 2024. Executive chairman Brandon Munro said this in the 2024 annual report, which highlighted a year of disciplined execution of its strategy. Munro said Bannerman made significant strides in…

26 Sep

Paratus invested N$204m in infrastructure

Observer MoneyCable Landing Station, Equiano subsea cable, Telecommunication Equipment

CHAMWE KAIRA For the year ended 30 June 2024, Paratus Namibia invested N$204.7 million in infrastructure compared to N$450.6 million in 2023, the company said in financial results. The number of new sites and fibre in new areas were limited to focus on the sign-up of new customers on the existing infrastructure. During this financial year, N$111m was invested towards capacity expansion, customer access of the current network and the expansion of the LTE network. During the 2023 and 2024 financial years, N$42.2 million was invested by the company, in conjunction with Paratus Botswana, for the construction of the fibre…

26 Sep

Tourism registers steady growth

Observer Money

Namibia’s tourism sector exhibited resilience and steady growth in August, bolstered by a diverse mix of both regional and international visitors. European tourists, in particular, were a driving force, with their share of international arrivals increasing to 70.28%, up from 66.33% in July 2024. This upward trend underscores Namibia’s growing appeal as a leisure destination for European travellers, emphasising the importance of tailored marketing strategies aimed at this key demographic. The continued dominance of holiday and leisure travel presents opportunities for further infrastructure development to enhance the visitor experience and maintain positive momentum. However, as a significant portion of Namibia’s…

23 Sep

NAMPOA empowers journalists with in-depth insights into oil and gas industry

Energy, Observer MoneyEnvironmental and Social Impact Assessments (ESIA)

Niël Terblanché As Namibia’s upstream petroleum industry continues to grow, driven by significant offshore discoveries, public interest has surged. Along with growing interest comes a pressing need for the media to provide accurate, well-informed coverage of the sector. In response, the Namibia Petroleum Operators Association (NAMPOA) is hosting a press seminar aimed at enhancing journalists’ understanding of the oil and gas industry, particularly its upstream operations. Scheduled for 24 September 2024, this seminar seeks to bridge the information gap between the oil and gas industry and the public by equipping media professionals with the tools necessary for informed reporting. The…

23 Sep

Residential development dominates August building statistics

Observer MoneyNational Housing Enterprise (NHE), Simonis Storm Securities

Martin Endjala Residential development in Windhoek and Swakopmund dominated building statistics during August, with construction activities in both cities continuing to show growth. According to a report by Simonis Storm Securities, construction activity remained modest in both Windhoek and Swakopmund, with continued development in both regions. Windhoek recorded an increase in approvals from 189 in July 2024 to 222 in August 2024, the highest on record for the year. Swakopmund also saw a rise in approvals, jumping from 39 to 64 during the same period. Despite this increase in construction activity, the overall value of completed projects experienced a sharp…

23 Sep

A 50MW solar power plant to be constructed near Ruacana

Energy, Observer MoneyCathral Investment Seventy-Seven (Pty) Ltd

Martin Endjala A 50-megawatt photovoltaic (PV) power plant is set to be constructed near Ruacana if a proposal to build it is approved. Cathral Investment Seventy-Seven (Pty) Ltd. (CI77), plans to develop a 50 MW solar power plant on a site at the NamPower Kunene substation in the Omusati region. “The plant is not for local supply, but it's for international supply and central Namibia,” Enviro Dynamics’s environmental consultant, Norman Van Zyl said during a telephone interview with the Windhoek Observer on Monday. Enviro Dynamics has been instructed to apply for an Environmental Clearance Certificate (ECC) on behalf of CI77.…

19 Sep

Bank Windhoek invests N$400m in digital services

Observer MoneyCapricorn Private Wealth, Corporate Institutional Banking, James Chapman, Selekt Platinum

CHAMWE KAIRA The branch will remain an integral part of Bank Windhoek’s business, Bank Windhoek's Executive Officer of Retail Banking Services and Specialist Finance, James Chapman has said. The branches remain important for clients who come for financial advice and other commercial services. Over the last three years, Bank Windhoek has invested N$400m in digital platforms and Chapman said the bank will continue to invest in data and digital services in the future. He told Observer Money that when the bank embarked on the digital journey, its view was not that the branch will become obsolete. Chapman said transactions services…

19 Sep

Roaming deals eyed with SADC members

Observer MoneyBotswana Communications Regulatory Authority, Communications Regulatory Authority of Namibia

The Ministry of Information and Communication Technology has announced that Namibia and Botswana have agreed to reduce roaming charges, with cuts of up to over 60% starting in August 2024. The new rates will lower costs for calls, SMS and data, with reductions reaching up to 94% for data and 89% for calls. The Communications Regulatory Authority of Namibia (CRAN) and Botswana Communications Regulatory Authority (BOCRA) have told Telecom Namibia (TN Mobile) and Mobile Telecommunications Company (MTC) and Botswana Telecommunications Corporation Limited (BTC), Mascom Wireless Botswana (Mascom) and Orange Botswana (Orange) to slash roaming prices. Observer Money asked Shoki Kandjimi,…