Namibia’s vehicle sales for March 2024 reached 1,451 units, marking the highest sales since July 2016, when 1,540 units were sold, a report released by Simonis Storm reveals. Out of the 1,451 units sold in March 2024, 1,269 were sold to dealerships, 182 to rental agencies, and none to theContinue Reading
J & A Kraft Store has instituted legal proceedings against furniture store, Lewis amid accusations that the latter owes rental-related bills totalling in excess of N$1.7 million cumulated between 2010 and 2020 for a store situated in Walvis Bay. J & A Kraft has made claims that after leasing theirContinue Reading
…as N$5.24 billion is recorded in 2023 During the 2023 financial year, the Bank of Namibia recorded a significant increase in the currency in circulation compared to the previous financial year. The value of currency in circulation increased from N$4.87 billion in 2022 to N$5.24 billion in 2023, equating toContinue Reading
ASX-listed OAR Resources has signed a binding agreement with Bullrun Capital, Cityscape Asset and Impala Consulting to acquire a 100% interest in two exploration prospecting licences (EPLs) in the renowned Erongo region of Namibia, known for its significant active uranium deposits. The EPLs are currently in the application phase andContinue Reading
Mineral exploration and development company Koryx Copper has closed a non-brokered private placement for N$19 million. The proceeds of the private placement will be used for further exploration at the company’s projects in Namibia and Zambia and for general working capital. Koryx owns the Haib copper project, in Namibia, andContinue Reading
ASX-listed uranium producer Paladin Energy has achieved uranium concentrate production and drumming at the Langer Heinrich Mine (LHM), in Namibia, as of March 30. The company said in a statement on April 2 that focus would now shift to production ramp-up and building a finished product inventory, ahead of shipmentsContinue Reading
The Government Institutions Pension Fund (GIPF) benefit payments in the last five years between 2019 and 2023 totalled N$27 billion while employee contributions received over the same period amounted to N$22.4 billion, insights from GIPF’s integrated annual report for the 2023 financial year reveal. This indicates a 20% higher pay-outContinue Reading
Fisheries and Marine Resources minister, Derek Klazen has asked the National Assembly to approve a budget of N$321.4 million for his ministry, Vote 22, which he says will enable the ministry to carry out its mandate. The mandate of Vote 22 is to responsibly, conserve, protect and promote marine resourcesContinue Reading
In 2023, the main drivers of GDP growth were the electricity and water sector, experiencing a notable expansion of 27.9%, a significant increase from 11.9% in 2022, a recent report by Simonis Storms reveals. Additionally, the mining and quarrying sector contributed 18.9%, albeit showing a slowdown from the 24.0% recordedContinue Reading
The Ohlthaver & List (O&L) Group, a longstanding Namibian conglomerate with a wide-ranging portfolio across multiple sectors, has announced the official groundbreaking of the Philippsee floating photovoltaic (PV) project in Bad Schönborn, Germany. The investment in this project, made through O&L Europe SE, the German Holding company of OLFITRA, marksContinue Reading
