Reconnaissance Energy Africa Ltd has provided several key updates, including exploration progress at the Naingopo well at PEL 73 in Namibia. The company said it has drilled the well beyond 2,400 meters, targeting to drill to a depth of approximately 3,800 metres. “Operationally, things remain on track, with the NaingopoContinue Reading
MEA Markets magazine has announced the winners of this year’s African Excellence Awards, with MultiChoice Namibia having been awarded the Most Innovative Entertainment Platform 2024. Now in its seventh year, the African Excellence Awards continues to highlight businesses and individuals for their prestigious accomplishments, passionate approach to their products andContinue Reading
By Frans Koita As Namibia prepares for its upcoming presidential election in November 2024, the next leader will face a complex set of economic challenges that require strategic and decisive action. The country’s real GDP growth is projected to slow to 3.6% in 2024, down from 4.5% in 2023, largelyContinue Reading
GCR Ratings (GCR) has upgraded the Namibian national scale long-term issuer ratings for Letshego Holdings Namibia, Letshego Bank Namibia, and Letshego Micro Financial Services Namibia to A+(NA) from A(NA). The short-term issuer ratings of A1(NA) have been affirmed, and the outlook has been revised to Stable. Karl-Stefan Altmann, Chief FinancialContinue Reading
The discovery of increased reserves of crude oil in Namibia has sparked interest in Namibian assets, with an index fund tracking local government bonds poised for its biggest annual jump on record. The Exchange Traded Fund tracking local government bonds is listed on the Namibian Stock Exchange and in SouthContinue Reading
…pays out N$181.9 million to ordinary shareholders Letshego Holdings Namibia’s unaudited condensed consolidated interim results for the six months ended 30 June 2024 show that profit after tax rose by 16% to N$199 million (2023: N$171 million), reflecting the Group’s strategic focus on efficiency and product diversification. The Group continuesContinue Reading
Mobile Telecommunications Ltd, MTC, hosted the inaugural MTC OATF Tech conference, bringing together and providing a platform where industry experts explored and dissected relevant topics. The conference aims to foster dynamic and efficient tech solutions, prioritize engagement and networking, and grant institutions’ access to a broader range of knowledge, skills,Continue Reading
The Environmental Investment Fund of Namibia (EIF) and Northern Regional Electricity Distributor (NORED), in collaboration with the Ministry of Mines and Energy (MME), have announced the signing of a Memorandum of Agreement (MOA) under the Towards an Inclusive Design of the Renewable Energy Transition (TIDRET) project. This significant event marksContinue Reading
Loxworth Capital has announced a significant strategic investment in its portfolio company, Namibia Berries. Eos Capital, through its Euphrates Agri Fund, has acquired a 15% stake in Namibia Berries, strengthening the company’s growth trajectory. This partnership aims to significantly boost local blueberry production, contributing to Namibia’s agricultural sector and positioningContinue Reading
Trustco Group Holdings Ltd has announced that Meya Mining, in which Trustco holds a 19.5% interest, has recovered a remarkable 391.45-carat diamond. This significant find was made in the Kono District of Sierra Leone, within an area that spans the Kamara Gbense and Tankoro chiefdoms. Meya holds a 25-year exclusiveContinue Reading
