In 2023, Bank Windhoek sold 142 properties through estate agents in northern Namibia valued at N$188 million. Bank Windhoek Executive Officer of Retail Banking Services and Specialist Finance, James Chapman, announced this substantial increase compared to properties sold at N$88 million in 2021. Chapman was speaking at the Bank WindhoekContinue Reading
Trigon Metals is going to look for opportunities to grow production from underground, which in turn should increase copper production and profitability, Rennie Morkel, President and Chief Operating Officer has said. Morkel was speaking subsequent to last week’s announcement that the miner achieved commercial production from the underground operations atContinue Reading
Namibia Asset Management Ltd. (NAM), has released its reviewed interim results for the six months ending March 31, 2024, showing a downturn in financial performance. According to information available from the Johannesburg Stock Exchange (JSE), the company reported an operating profit of N$6,850,217, down from N$8,341,603 for the same periodContinue Reading
Fisheries and Marine Resources Minister, Derek Klazen has moved to address challenges being encountered with ex-fishermen that were absorbed through the Governmental Employment Re-Dressing Programme (GERP) following their loss of employment in recent years. With the fishermen having written multiple petitions seeking redress of numerous issues, Klazen last week initiatedContinue Reading
Chevron and Rhino Resources have filed environmental documents to support what will be two closely watched wildcatting operations offshore Namibia. The US supermajor and South Africa-based Rhino will fire-up exploration campaigns in the fourth quarter of 2024 or early 2025 on their highly promising acreage in the hydrocarbon-rich Orange basinContinue Reading
Koryx Copper has announced that it has received commitments for CAD$2,000,000 (about N$26 million) proceeds pursuant to a non-brokered private placement for the sale of up to 16,666,666 common shares of the Company at a price of $0.12 per Share. The Offering is subject to TSX Venture Exchange approval, andContinue Reading
The Old Mutual Foundation has launched its third edition of the highly anticipated Old Mutual Sustainable, Economic, and Empowerment Drive (OM SEED) today with a total investment of N$800 000 in support of grassroots entrepreneurs in Ohangwena, Zambezi, Oshikoto, and Kavango West Regions. Following the remarkable impact achieved in theContinue Reading
Pan-African legal and business advisory group CLG – formerly Centurion Law Group – has appointed Namibian lawyer Rachel Mushabati as Senior Associate, as the firm solidifies its commitment to tackling complex legal issues across Africa’s oil and gas sector. Committed to supporting clients in developing Africa’s energy resources, the appointmentContinue Reading
By Joel Shikoyeni As Namibia joins the Fourth Industrial Revolution (4IR), the Information and Communication Technology (ICT) industry starts to have a significant impact on the country’s economy, promoting equality of opportunity, industrial development, economic growth, and poverty eradication. The Namibian government has put laws in place to encourage theContinue Reading
By Bloomberg Exxon Mobil Corp. and Shell Plc are among energy giants evaluating bids for a stake in Galp Energia SGPS SA’s major oil field offshore Namibia, according to people familiar with the matter. TotalEnergies SE and Equinor ASA are also among those considering acquiring the 40% stake Galp isContinue Reading
