African technology metals mining company Andrada Mining is in the process of requesting the drawdown of a N$100-million, or about $5.8-million, facility from the Development Bank of Namibia (DBN). This follows DBN’s confirmation that all conditions have been fulfilled or waived and that financial close has occurred. Andrada expects theContinue Reading
Shell’s Cullinan-1X exploration well offshore Namibia did not make a commercial oil and gas discovery, the company said on Thursday. Namibia, which has yet to produce any oil and gas, has attracted strong interest from international companies after Shell and TotalEnergies recently made discoveries off the coast of the southernContinue Reading
The High Commissioner of the southern African nation to India, Gabriel Sinimbo, said on Saturday that the deaths of several cheetahs brought under Project Cheetah to Madhya Pradesh are happening due to the introduction of animals to a new environment. The High Commissioner further stressed that the felines will beContinue Reading
Osino Resources Corp. has reported the completion of the phase 1 earn-in on its majority-owned Omaruru Lithium Project in Namibia by Prospect Resources Limited and announced that Prospect will proceed with the phase 2 earn-in. Osino entered into an Earn-In and Shareholder Agreement with Prospect in Q4 2022 whereby ProspectContinue Reading
A dividend of N$224.5 million (44.89 cents per ordinary share) was paid to the Ordinary Shareholders of Letshego Holdings (Namibia) Limited during the June 2023 period, the Board of Directors of Letshego Holdings (Namibia) Limited has announced in its financial results for the six months ended 30 June 2023. ThisContinue Reading
Estonian Centre for International Development (ESTDEV) recently unveiled 11 projects in Africa that have been awarded funding, of which six take place in Namibia and three in collaboration with the Namibia Investment Promotion and Development Board (NIPDB). As one of the priority areas of development cooperation between Estonia and NamibiaContinue Reading
Following a survey instituted into Namibia’s tourism sector, research experts Simonis Storm has said that despite the survey showing a contribution of about 4% to nominal GDP, they believe the true contribution to be in the region of 15% to 18% of the Namibian economy. Of the eight associations inContinue Reading
Namibia Chamber of Commerce and Industry (NCCI) president, Bisey Uirab has said that although an often-difficult task and one that requires reversing certain long entrenched economic and social practices, NCCI calls on all Namibian businesses to embrace value addition. In a statement at the at the UNDP private sector engagementContinue Reading
With most of Namibia’s fish exports going to Europe and SADC member states, the export bill of fish has increased for the 9th consecutive month, seeing a 60.2% y/y increase in May 2023. According to a report released by Simonis Storm, the export bill rose from N$697 million in MayContinue Reading
…as South Africa cools its demand for Namibian weaners Namibian weaner prices struggled to recover during the second quarter of 2023 and averaged N$24.97/kg by the end of the period. According to the Meat Board of Namibia, this is a decline of 31.7 percent compared to the 2022 level ofContinue Reading
