South Africa is heading for a general election in late May, with some polls suggesting the governing African National Congress (ANC) could get less than 50% of the vote for the first time in 30 years. Mounting criticism of the party that led the fight against apartheid under the late Nelson Mandela has chipped away...
Capricorn Group says it plans to increase its shareholding in Paratus Telecom, citing great growth potential by the telecommunications firm. The Namibian Stock Exchange-listed company currently has a 31% shareholding in the telco and looking to increase it to 36% later in the year. This will be an increase from the 30% the Group held...
Africa Oil Corp. has made a cash offer to acquire up to 8.0% of issued shares from minority shareholders in Impact Oil and Gas Limited. The offer is worth up to approximately US$64 million (about N$1.2 billion), which implies a valuation of US$805 million for 100% of the issued share capital of Impact. Africa Oil...
After extensive preparations spanning several months, the government has successfully finalised an agreement in which it will acquire a 24% stake in the country’s first large-scale green hydrogen project. On 22 December, Hyphen Hydrogen Energy announced that the government, via the SDG Namibia One fund, finalised a share subscription agreement. To support this, the Hyphen...
SDG Namibia One Fund, a dedicated green hydrogen blended finance vehicle and the designated funding partner to Namibia’s green hydrogen initiatives, and Hyphen Hydrogen Energy have concluded a share subscription agreement, following which the Fund will take up a 24% stake in the Hyphen green hydrogen project. The Fund’s equity subscription will be backed by...
The Namibian Association for Offshore Oil and Gas Service Providers (NAOGSP) held its inaugural board meeting at Walvis Bay on Saturday. The association aims to ensure Namibian businesses and communities enjoy a just stake in Namibia’s prospective oil and gas industry. Some 256 service companies participated in introductory sessions at Walvis Bay, Lüderitz, and Oranjemund...
Staff Reporter TSUMEB, November 14 — Energy firm 88 Energy has finalized a three-stage farm-in agreement with Monitor Oil and Gas Exploration (Namibia) (MELN), a Namibian company, aiming to acquire a maximum 45% stake in onshore petroleum exploration license 93 (PEL 93) in Namibia’s Owambo Basin. According to the terms, 88 Energy’s wholly owned subsidiary,...
The Namibian government is strategising to use the potential income generated from its recent oil and gas findings to buy a 24% stake in the untested Hyphen Hydrogen Energy green hydrogen project. This was revealed by green hydrogen commissioner James Mnyupe during the South African Green Hydrogen Summit in Cape Town last week. Mnyupe said...
THE Ministry of Mines and Energy says Namibia is considering the possibility of acquiring a stake in the Lobito Refinery in Angola or constructing its own refining facility. This comes as the country is on the brink of becoming an oil producer amid potential oil discoveries off the coast of Namibia by TotalEnergies and Shell....
A Hyphen Hydrogen Energy shareholder has offered to sell international oil and gas companies a stake in the Namibian project, for more than N$3 billion. It’s unclear whether international companies would be interested, especially since they could have gotten involved for free two years ago when the government selected Hyphen. This move comes as senior...