Page 204 – News Stand

30 Jan

Africa lagging in soaring demand for air cargo

info_e12wt4csObserver Money

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…

30 Jan

Athlete awarded scholarship to pursue sport management education in RSA

info_e12wt4csSports

Erasmus Shalihaxwe The Frank Fredericks Foundation (FFF) has awarded 100m, 200m, and relay events specialist, Ndawana Haitembu with an N$20 000 scholarship to pursue an honours degree in Sports Management at the University of Johannesburg in South Africa. The foundation made the announcement on Thursday. ‘’Ndawana’s commitment to both sports and education has been truly inspiring. Her journey speaks volumes about her passion and perseverance. In 2023, she earned her Bachelor's degree in Sports Management from Namibia University of Science and Technology (NUST), followed by an International-Level Athletes Education Program Certificate from the World Anti-Doping Agency in 2024,’’ said the…

30 Jan

Exciting Women’s Super League action this weekend

info_e12wt4csSports

Erasmus Shalihaxwe The FNB Women’s Super League is set for a full schedule of games this weekend at various stadiums across the country. Friday Fixtures:The action kicks off today at 18h00 at the Namibia Football Association (NFA) Technical Stadium in Windhoek, where Beauties FC will take on Arrows Ladies FC. Saturday Fixtures:On Saturday, the first match of the day will see African Stars Ladies FC face Julinho Athletic Ladies FC at 11h00 at Uukwagula Stadium in Oshakati. At 14h00, Unam Bokkies FC will play against Windhoek City Soccer Club at Unam Stadium in Windhoek, while Okahandja FC will go up…

30 Jan

Shell’s write down will not impact GDP projection

info_e12wt4csObserver Money

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…

30 Jan

Paratus announced changes to board

info_e12wt4csObserver Money

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…

30 Jan

CRAN’s role in raising E-Waste awareness

info_e12wt4csObserver Money

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…

30 Jan

ReconAfrica completes farm down with BW Energy

info_e12wt4csObserver Money

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…

30 Jan

MTC to host AGM end of February

info_e12wt4csObserver Money

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…

30 Jan

Bannerman secures water and power contracts for Etango Uranium Project

info_e12wt4csObserver Money

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…

30 Jan

B2Gold announces offering of convertible senior notes

info_e12wt4csObserver Money

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…