Engen has instituted legal proceedings against the Ministry of Works and Transport in pursuit of at least N$23 million it claims it is owed for fuel and related supplies to now defunct Air Namibia. Engen is an African-based energy group focused on the marketing of petroleum, lubricants and functional fluids,Continue Reading
FNB Namibia economist Ruusa Nandago has said that the rental market is expected to remain fairly stable as inflation starts to moderate and the repo rate remains at its peak of 7.75% with a shallow cutting cycle through to 2026. After moving out of contractionary territory in March 2023, theContinue Reading
The Electricity Control Board (ECB) and the Communications Regulatory Authority of Namibia (CRAN) signed a Memorandum of Understanding (MoU) committing to collaborate on areas of common interest and for the effective and efficient performance of their respective mandates. The ECB is established in terms of the Electricity Act, (No. 4Continue Reading
Following an intensive 24-months of facilitation, training, peer-to-peer learning, and diverse events, the European Union-funded Twinning Project titled “Support to the Namibian Standards Institution” successfully concludes on 31 January 2024, marking a significant milestone in boosting Namibia’s trade capabilities. This was revealed at the closing event, hosted at Droombos toContinue Reading
In a first for the Namibian market and aligned to the trend in banking globally, FNB Namibia has announced the closer to-market restructuring of its Executive Team. This restructure sees Nangula Kauluma take up the title of CEO FNB Retail Banking and Sepo Haihambo, that of CEO FNB Commercial Banking.Continue Reading
RMB Namibia has been announced as Best Foreign Exchange Bank in the country for the 24th annual Global Finance’s World’s Best Foreign Exchange Banks as part of the Gordon Platt Foreign Exchange Awards. This award celebrates excellence and innovation in foreign exchange banking services. This latest accolade is again aContinue Reading
Sustainable Power Solutions (SPS), together with its Namibian partners, Fortitude and the Oelofse family, are pioneering the latest development in Namibia’s energy and mining sector. N$200-million Renewable Energy Flagship Project SPS is leading the development and funding of a N$200-million investment in a 10 MW solar plant, which will generateContinue Reading
Shell has discovered at least 500 million barrels of recoverable oil in Namibia’s Orange Basin, the country’s petroleum commissioner Maggy Shino has said. The official was talking to Energy Capital & Power ahead of the Namibia International Energy Conference, in Windhoek on April 23-25. Shino said Shell Namibia Upstream hadContinue Reading
Paladin Energy has announced a N$2.8 billion syndicated debt facility to provide the company with capital flexibility ahead of the restart of operations at the Langer Heinrich mine, in Namibia, and to progress its growth options in Canada. Paladin executed the facility, comprising a N$1.9 billion amortising term loan overContinue Reading
A total of N$171 million (About $9 million) has been budgeted for exploration at B2Gold’s Otjikoto mine in 2024, the largest program since the definition of the Wolfshag discovery in 2012. This was said this week by B2Gold which further highlighted that the focus of the exploration program will beContinue Reading
