Author: Albert Nangara

Paladin is restarting its Langer Heinrich uranium mine in Namibia that was idled due to low prices. Australian uranium producers, including Paladin, have raised close to US$282.08 million in share sales this year to fund exploration and resuscitate mines.

The current primary uranium supply is unable to meet demand, and the deficit is being met by secondary supplies and inventory drawdowns, Paladin CEO Ian Purdy said at the Digger & Dealers Mining Forum in Kalgoorlie, Australia.

The average annual deficit is projected to be in the range of 40 million pounds over the coming decade, he told the forum.…

Invictus Energy received environmental impact assessment (EIA) renewal approval from the Zimbabwe Environmental Management Agency (EMA) for the Cabora Bassa project.

The renewal will be valid until July 2023 and permits the company, which owns 80 per cent of the project, to operate in accordance with Part XI of the Environmental Management Act.

Additionally, the renewal concludes the permitting requirements and enables the company to undertake activities in the field, including seismic acquisition and exploration drilling.…

In June, Zawya Projects announced that Namibia had received 25 submissions for pilot projects, from which it plans to select no more than five.

The four projects – the Daures, Namport, Cleanergy, and TransNamib projects – have a combined value of over N$890 million (53,39 million euros), and some of the funds will be sourced by the initiators of the projects. The four projects will be located in the Erongo region, which has been marked as ‘valley 1’ of the envisaged national hydrogen ecosystem.…

According to an article by Maritime Executive published August 17, 2022, since May Senegal and Germany have been working together to fast-track the completion of the BP-led Greater Tortue Ahmeyim (GTA) LNG project. The offshore field straddles the border between Senegal and Mauritania and is set to produce 2.5 million tons of LNG in the first phase. Plans call for output to double to 5 million tons in the second phase.

Earlier, Kosmos Energy, which is developing the GTA field with BP, said phase one is 80 percent complete. Senegal is now reporting that it will be ready to export its first LNG cargo to Europe in 2024 when production at Tortue Gas project is scheduled to start.

“Senegal will be able to sell its quota to Europe, especially Germany already, in the second half of 2024,” Mamadou Fall Kane, deputy permanent secretary of COZ-Petrogas, the government committee that monitors …

Nasdaq in an article dated April 20, 2022, said the move is classed as Black economic empowerment (BEE) transaction, a government initiative to reverse ongoing economic inequalities almost three decades after the end of apartheid, encouraging companies to meet quotas in areas including Black ownership, employment, and procurement.

“This deal underpins our firm belief that real transformation is necessary to sustain business growth and serve the best interests of all South Africans,” CEO Iain Williamson said in a statement.

“Through this Old Mutual Bula Tsela Retail Scheme, we will give our people the opportunity to become (indirect) owners of the company they love and trust,” he added.

The new shares will constitute approximately 4.36 per cent of Old Mutual’s current issued share capital and 4.18 per cent of the enlarged share capital.…

The ban on Russian coal imports will further strain coal supplies and force European consumers to look elsewhere at a time when there is already concern about dwindling supplies of Russian gas and a severe energy crunch in the winter.

According to an article by Africa News published May 26, 2022, as Europe takes action to reduce imports of Russian gas, the continent’s leaders have been looking to Africa as an alternative energy supplier. New deals have been signed with Algeria, Angola, Congo, Nigeria, and others are thought to be on the way.

In a related article by AFP dated April 21, 2022, Italy penned a deal with Angola to ramp up gas supplies from the southern African country as it urgently scrambles to break away from Russian gas over the Ukraine war.

“Today we have reached another important agreement with Angola to increase gas supplies,” Foreign Minister Luigi Di …

Trophy hunting is permitted across large swaths of Africa today. Many of the animals hunted and exported for trophies are smaller game, such as impala and warthogs.

Still, most of the revenue generated from commercial hunting comes from the so-called charismatic Big Five: elephants, lions, leopards, rhinoceroses, and buffalo.

Restrictions on trophy hunting imports have been imposed in the US, Europe, and Australia. At the same time, the UK recently announced that it would “ban imports from thousands of species as part of a wider UK drive on international conservation”.

• Minister of environment, forestry, and tourism Pohamba Shifeta says the banning of hunting trophy imports by the United Kingdom (UK), Belgium, and Finland may have negative consequences for Namibia and its wildlife
• A total of 5001 trophy hunters visited Namibia for hunting in 2019. German tourists or hunters were the highest with a total of 1792 (36 per cent)
• While

Broker-controlled accounts deliver lower costs and easier account opening procedures for investors wanting to open a VFEX trading account.

This offers a one-stop-shop facility for the investor, given by opening an account with the custodian and transacting through a securities dealer, the broker-controlled model offers investors all the services under one roof to the convenience of the investor.

The securities dealing firms will perform all the services on behalf of investors and these include, among others, opening accounts for investors, and performing the necessary due diligence exercise including the Know Your Customer (KYC) requirements.

It also includes day-to-day communication with the client, mailing of customer transaction statements at no cost, and transacting on the stock exchange on behalf of the investor.…

The central bank kept the policy rate at 200 per cent saying it would be reviewed in line with developments in monthly inflation. The high rate is to ensure that it is not viable to borrow local currency to speculate in the black market or even buy gold coins.

With foreign currency-denominated loans now constituting more than half of the total banking sector loans, with effect from September 1, statutory reserve requirements would be extended to forex deposits at rates of 5 per cent for call deposits and 2,5 per cent for time and savings deposits to ensure continued soundness of the banking sector.

Foreign exchange retention thresholds have been maintained at 75 per cent for agricultural exporters and 100 per cent for tourism, recovering from the effects of Covid-19.…

• Senditoo and Access Forex partner to give clients hassle-free international transfers.
• The partnership means that Senditoo’s services will be available at approximately 200 payout points across Zimbabwe.
• As of June 30, 2022, total international remittances amounted to US$1.372 billion, an increase of 23 percent from the US$1.113 billion recorded during the same period in 2021. Of the total amount, diaspora remittances amounted to US$797 million, a 23 percent increase from US$650 million received during the same period in 2021.
• International remittances comprise transfers by Zimbabweans in the Diaspora and International Organisations.

Senditoo, an international remittance company has partnered with Access Forex to implement an infrastructure that will enable it to process cross-border transactions. Senditoo has been on the move of late and the partnership with Access Forex marks another milestone in the company’s progression into being one of the big players in the remittance space.

The partnership means that Senditoo’s …