TotalEnergies is looking to sanction the first phase of its huge Venus project offshore Namibia in late 2025, targeting production of as much as 180,000 barrels per day. Venus is currently thought to hold about 2 billion barrels of recoverable oil, with chief executive Patrick Pouyanne making clear previously thatContinue Reading
Namibia’s oil potential could one day match Guyana, where big discoveries have sparked an economic transformation and set the world’s biggest companies jostling for position. There’s a “big chunk of oil” in waters off Namibia, said Patrick Pouyanne, chief executive officer of TotalEnergies SE, which alongside several other companies hasContinue Reading
Namibia’s offshore deposits could be in the range of hundreds of billions of barrels, Dr. Marcio Mello, President of the Brazil Petroleum Studies, stated during the Namibia International Energy Conference (NIEC). Geological data underscores the potential for over 100 billion barrels of unrisked oil reserves, with hundreds of prospects yetContinue Reading
…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
