…company may fork out N$57 million for 67% stake in Giraffe Energy Sintana Energy Inc has snapped up a stake in some the of last remaining acreage in Namibia’s Orange basin hotspot, acquiring a material interest in the PEL 79 licence block located to the east of the ‘world-class’ MopaneContinue Reading
Trustco Group Holdings Limited (Trustco) has announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for N$468 million. This will increase Trustco’s holding in Legal Shield to 91.35%. The strategic transaction fortifies Trustco’s investment footprint in the insuranceContinue Reading
The Namibian Competition Commission (NaCC) has concluded its investigation against the Payment Association of Namibia (PAN) and nine (9) registered commercial banks, for alleged collaboration regarding interchange fees, which give rise to possible price fixing or market conditions. The Commission found that the relevant provisions of Part I of theContinue Reading
Delegates are in for a treat as the lineup of speakers for the upcoming Namibia International Energy Conference 2024 (NIEC2024) has been unveiled. With the countdown to the 6th edition of NIEC2024 underway, anticipation builds as renowned figures from the energy, investment, finance, and sustainability sectors prepare to take theContinue Reading
Trustco Group Holdings Limited has announced that Riskowitz Value Fund (RVF), a US-based fund, has entered into a six-month non-exclusive agreement to invest up to N$1.9 billion of hybrid capital into Trustco. “RVF’s proven track record and in-depth understanding of global markets make them a valuable asset as we exploreContinue Reading
President Nangolo Mbumba has urged the most recent graduates from University of Namibia (UNAM) to, in the absence of work, harness their entrepreneurial spirit and visionary mindset to create new opportunities, challenge the status quo, and pioneer innovative solutions to address the complex challenges facing our societies. Mbumba who wasContinue Reading
Over 90% of Namibian depositors are covered under the Deposit Guarantee Scheme which aims to protect depositors from the loss of their deposits by compensating them in the unlikely event of a commercial bank failure. The Scheme adopts a guaranteed coverage limit of N$25,000 which is currently in effect. TheContinue Reading
Growth in key mining industries in Namibia is estimated to decrease in 2024 mainly due to a myriad of issues including low production, water interruptions and declining international prices. According to the Bank of Namibia, growth for diamond mining is estimated to decrease significantly in 2024, partly dampened by lowContinue Reading
The Namibian economy is projected to slow down in 2024 before improving marginally in 2025. The domestic economy is estimated to decelerate from 4.2 percent in 2023 to 3.7 percent in 2024 before improving to 4.1 percent in 2025. “The projected slowdown is largely on account of weaker global demandContinue Reading
Australian multinational mining firm Oar Resources secured commitments from its shareholders to raise N$12 million to fund two greenfield uranium projects in Namibia. The capital will be raised through a share placement issued by the firm in April, facilitating the acquisition of the EPL 9652 and 9725 uranium licenses inContinue Reading
