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CHAMWE KAIRA  Swakop Uranium (Pty) executive president, Irvine Simataa, along with two officials, recently paid a courtesy call on the Ministry of Mines and Minerals Development Permanent Secretary, Hapenga Kabeta. The discussion centred on a potential partnership to develop high-potential uranium projects in Zambia, the Zambian Ministry of Mines and Minerals said. Swakop Uranium, a Namibian mining company specialising in uranium production, is keen to expand its expertise to emerging markets, including greenfield mining opportunities. This collaboration could mark a significant step in Zambia’s mining sector, leveraging Swakop Uranium’s experience to unlock new opportunities in uranium development, the Zambian ministry…

CHAMWE KAIRA  The electricity and water sector is projected to expand by 13.5% in 2025 and 12.8% in 2026, representing a notable rise from the 2.3% growth observed in 2024. The Bank of Namibia said in the December 2024 Economic Outlook update that this expected improvement in 2025 primarily stems from favourable rainfall patterns, which are anticipated to boost electricity generation, especially from the Ruacana hydropower plant. The improvement will also be bolstered by additional solar generation from the Otjikoto Biomass and the Rosh Pinah 70 MW PV plants, the central bank said. “Furthermore, rising reservoir levels will contribute to…

CHAMWE KAIRA  The Bank of Namibia’s stock of international reserves decreased at the end of March and stood at N$59.7 billion, reflecting a month-on-month decrease of 7.4%. The central bank stated that the government's rising imports and foreign payments primarily drove the monthly decrease in reserves. This level of international reserves translated into 3.9 months of import cover. When excluding oil exploration and appraisal activities, which are mainly financed from abroad, the import cover stood at 4.8 months of imports, the central bank said. Cash balances in the overall banking industry remained robust at N$9.4 billion in March 2025, relative…

CHAMWE KAIRA  In 2024, total direct employment in Namibia’s mining industry increased to 20 654, marking a 13.6% rise from 18 189 recorded in 2023, based on the Chamber of Mines of Namibia statistics. The chamber said this growth highlights the continued expansion of the sector, despite a few retrenchments reported during the year. “The steady rise in employment underscores the industry's resilience and its contribution to national job creation efforts. Employees in the mining sector collectively contributed N$1.69 billion in Pay-As-You-Earn (PAYE) tax, further emphasising the sector's role in supporting public revenue. The total wage bill amounted to N$7.9…

Arysteq, the largest independent, wholly Namibian-owned asset management company, today listed its first Actively Managed Exchange Traded Fund (AMETF), the Arysteq Short-Term Income AMETF (ASIETF) on the Johannesburg Stock Exchange (JSE). Approved by the Namibia Financial Institutions Supervisory Authority (NAMFISA), the Arysteq Short-Term Income AMETF is the first Namibian-based fund to list on the JSE. It is ideal for investors seeking low-cost, convenient alternatives to traditional non-listed products. The fund invests in Namibian short to medium dated instruments that are considered risk-free or carries some credit risk. These include a wide range of instruments issued by banks and other institutions.…

CHAMWE KAIRA  The growth in property sales volumes improved in 2024 but remained in negative territory. During the period under review, the sale of properties in Namibia improved by 4.2%, reaching -15.5% in December 2024 compared to -19.7% in 2023. Despite this, property sales remained in negative territory, thus reflecting ongoing affordability challenges and weak market sentiment, the financial stability report of April 2025 by Namibia Financial Institutions Supervisory Authority (NAMFISA) and the Bank of Namibia said.  The report said this is underscored by the low growth in mortgage credit, attributable to structural macroeconomic factors such as high unemployment. “The…

Duncan Wanblad, Chief Executive of Anglo American, has said group had a strong start to the year in copper and iron ore, with both businesses performing in line with guidance.  “In copper, Quellaveco and Los Bronces (in Chile) are both performing well, helping to offset the expected lower grades and variability in recoveries at Collahuasi (in Chile).  In iron ore, Kumba (South Africa) posted another solid quarter and increased iron ore sales as Transnet saw better rail logistics performance, and Minas-Rio had another excellent quarter. Our focus on operational excellence is delivering valuable stability to our simplified portfolio which provides…

CHAMWE KAIRA  Oceana Group Limited has warned shareholders to expect a decline in earnings for the six months ending 31 March 2025, mainly due to lower fish oil prices and increased operating expenses in its Namibian operations. In a trading statement released this week, the group said earnings per share (EPS) are expected to range between 300 cents and 350 cents, a drop of 40% to 49% compared to 587.6 cents reported during the same period last year.  Headline earnings per share (HEPS) are also expected to decline by 40% to 48%, compared to 578.8 cents in the prior comparative…