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The government has urged players in the tourism and hospitality industry to rethink their strategies and target new international markets to boost the sector.

TransNamib Holdings Limited is targeting to recruit 72 new train drivers within the next three years through an external training programme aimed specifically at the youth in Namibia. 

Trevali Mining Corp. has announced the resignation of Director Richard Williams, the latest executive to leave the mining company this month.

Trustco Bank Namibia Ltd (TBN) and the Trustco Group Holdings (TGH) have dragged the Bank of Namibia (BoN) to court after it has declined a N$1 billion capitalisation plan aimed at allowing the group’s banking unit to enter full commercial banking operations.

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Namibia and Eswatini have exchanged notes on the best practices to conserve and manage the environment. 

Paratus Namibia Holdings Ltd will set aside N$280 million towards infrastructure investments in 2023.

Namib Desert Diamonds (NAMDIA) has revealed that the diamond sales and marketing company was in the process of appointing a Chief Executive Officer following the expiry of founding CEO Kennedy Hamutenya’s term.

Osino Resources has completed the acquisition of two remaining minority interests in the mineral properties comprising the Twin Hills gold project, in Namibia for a total consideration of N$14.6 million.

Osino completed the acquisition of the remaining 10% of the shares in the capital of Osino Namibia Minerals Exploration (ONME) for N$11.5 million (C$870 000), settled through the issuance of one-million common shares of the company to Ominda Mineral Resources, which is arm’s length to Osino.

ONME was a 90%-owned subsidiary of Osino and holds eight exclusive prospecting licences (EPLs), covering 86 409 ha, including an EPL which hosts the gold mineralisation at the Clouds deposit, forming part of Osino’s overall Twin Hills gold mineral resource.

As a result, Osino now owns 100% of ONME.

Further, Osino also acquired 20% of the shares in Richwing Exploration for N$1.8 million (C$137 931), settled through the issuance of 37 615 Osino shares and N$1.3 billion (C$96 552) in cash to Richroad Investments and South Wing Investments, which are arm’s length to Osino.

Richwing was 80% owned by Osino and holds an EPL which hosts gold mineralisation and industrial minerals south of the Twin Hills project area.

Osino now owns 100% of Richwing.

Osino also expects to close an additional minority interest acquisition of 3% of the shares in the capital of Osino Gold Exploration and Mining (GEM) as previously announced in August.

Upon completion of this acquisition, Osino will own 100% of Osino GEM.

It expects to complete the acquisition of Osino GEM within a few weeks, as the acquisition is subject to approval by the TSX Venture Exchange.

 

 

Namibia Breweries Limited (NBL) says it generated N$1.82 billion in revenues from local beer product sales for the financial year ended 30 June 2022, a 6.6% decline from N$1.95 billion revenues recorded for the same period last year.

It’s vital for multinational oil companies operating in African nations like Namibia to work with specialised local firms who deeply understand the energy sector if they want to properly navigate legal, business and regulatory issues, says Shakwa Nyambe, Managing Director of leading energy law firm SNC Incorporated.