Brian Reinsborough, President and CEO of Reconnaissance Energy Africa Ltd. (ReconAfrica) has said that plan to be drilling the Naingopo exploration well on PEL 73 onshore Namibia through October before reaching total depth and will disclose well results after thorough analysis of the logs and any obtained fluids. Reinsborough lastContinue Reading
Namibia’s net foreign direct investment (FDI) inflows declined during the second quarter of 2024, largely driven by base effects, intercompany loan repayments and a slowdown in the appraisal drilling campaigns. Namibia’s net direct investment inflows declined by N$7.2 billion and N$3.9 billion on a yearly and quarterly basis, respectively, toContinue Reading
The second quarter has witnessed proceeds from Namibia’s diamonds exports increase significantly by N$2.0 billion, reflecting a significant increase in the volume exported relative to a typically slower first quarter Despite this however, the Bank of Namibia notes that on a yearly basis, proceeds from rough diamonds declined marginally “DiamondContinue Reading
Total debt stock among households increased by N$125.94 million month-on-month and by N$1.3 billion year-on-year in August 2024, although overall growth remains subdued, a report by Simonis Storm reveals The research experts further note in the report that mortgage loans declined by 1.1% y/y, reversing the 3.1% y/y growth observedContinue Reading
MTC Maris is a mobile phone-based money transfer and payments service of Windhoek General Administrator (WGA), a subsidiary of Mobile Telecommunications Company (MTC), the largest network operator and digital service solutions provider network operator in Namibia. MTC Maris, (move with your money) allows users to deposit, withdraw, transfer money, payContinue Reading
The Namibia Youth Energy Forum (NYEF) has announced a new partnership with Dutch Project Quality Consulting Services (DPQ) to sponsor the establishment of operations and projects in Lüderitz. This collaboration aims to empower, educate, and upskill young people in Lüderitz, enabling them to actively participate in shaping Namibia’s energy landscape,Continue Reading
Sinomine Resource Group has announced the appointment of Logan Lou Yonggang as Chief Executive Officer (CEO) of Sinomine Tsumeb Smelter. Zebra Kasete, former Managing Director will transition into a new role as Executive Vice President: Business Development of Sinomine Tsumeb Smelter. He will be accountable for client acquisition, developing strategicContinue Reading
TotalEnergies will be targeting a billion-barrel resource with its next deepwater well offshore Namibia, according to chief executive Patrick Pouyanne. The Tamboti-1X probe is due to spud shortly in the northeast of Block 2913B which hosts the supermajor’s huge Venus discovery. Fresh from completing what is thought to have beenContinue Reading
Namibia has achieved another milestone in medical innovation with the successful completion of the country’s first-ever hair transplant surgery. The pioneering procedure was carried out at Aesthetics Centre Olympia (ACO), part of the Emoneko Group, on 26 September 2024, marking a new chapter in Namibia’s healthcare journey. A skilled teamContinue Reading
A successful outcome from Reconnaissance Energy Africa Ltd’s drilling efforts at the Naingopo exploration well could be a significant catalyst for the stock, analysts reiterated after the company provided an update on its exploration activities in Namibia. ReconAfrica said on Thursday that the Naingopo exploration well on Petroleum Exploration LicenseContinue Reading
