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Business (684)

  • 28
  • Apr

B2Gold’s Otjikoto Mine is this year expected to produce between 165,000 and 175,000 ounces of gold at cash operating costs of between US$510 and US$550 per ounce. The mine produced 166,285 ounces of gold in 2016.

  • 28
  • Apr

Ebenecia Tjiveta of Onyose Trust was recently named as one of Standard Bank’s Woman of Excellence in 2016 for her work with mentally and physically disabled people. Standard Bank supports the development, empowerment and recognition of women in all sectors of society by contributing financially towards the Namibian Women of Excellence project through the Miss Namibia Pageant.

  • 28
  • Apr

Air Namibia Executive Committee (Exco) members have signed performance agreements, as a commitment to attain strategic objectives outlined in the national airline’s five-year strategic plan for the period 2016/17-2020/21.

  • 21
  • Apr

Stanlib Namibia says it is in the process of developing its local unlisted capability that will see the asset management firm invest in private equity or infrastructure in the near future. The investment management services provider, with over N$6 billion worth of assets under management, says it stands ready to comply with the proposed amendments to Regulation 28, Regulation 15 and Regulation 29 among others, that will be amended to gradually lift the domestic asset requirement threshold from the current 35 percent of total assets to 45 percent.

  • 21
  • Apr

The Namibia Chamber of Commerce and Industry (NCCI) has claimed that its members are owed in excess of N$500 million by Government in unpaid invoices for services rendered or goods supplied.

NCCI Chief Executive Officer, Tarah Shaanika, this week appealed to the Government to prioritise the payment of all outstanding debt owed to businesses or risk company closures and further job losses. Shaanika claimed that some of their members were either being liquidated or were at risk of being liquidated because of Government’s delay in payment, while some members were finding it difficult to continue operating at the same level as before because of Government’s budget cuts.

  • 21
  • Apr

FNB Namibia Holdings subsidiary, Ashburton Fund Managers Namibia, is expected to be operational by June, after the asset management firm secured a licence from regulators in December. FNB Chief Marketing Officer: Strategic Marketing and Communications, Tracey Eagles, told the Windhoek Observer this week that Ashburton Namibia’s licence was given the regulatory green light well before the Pointbreak acquisition approval came through last month.

  • 21
  • Apr

Telecom Namibia says it has made progress in expanding its fibre access network footprint despite the negative economic climate. The last mile fibre links were installed to connect corporate businesses and public institutions in 24 towns across the country.

  • 21
  • Apr

Namibia Diamond Trading Company (NDTC) is upbeat about the prospects of the global diamond sector this year, amid increased demand for the precious stone. This comes as the local diamond seller, a 50/50 partnership between global diamond miner, De Beers, and the Government of Namibia, says it has been witnessing increased demand for its stones over the course of the year.

  • 21
  • Apr

Production at Paladin Energy’s Langer Heinrich Uranium in the Erongo Region has dropped by more than a quarter to 896 070 pounds, in the four months ended 31 March, the company said this week. Paladin said production and unit costs were impacted by the first full quarter of a planned reduced production.

  • 21
  • Apr

Shareholders of new short-term insurance company, King Price, have pumped in N$35 million as start-up capital. Namibian shareholders own a combined 26 percent stake in King Price, while the rest of the shares are owned by Munich Re and the Mertech Group, whose owner, Francois van Niekerk, co-founded the Atterbury Property Group.

WINDHOEK OBSERVER

The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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