Canadian oil and gas company ReconAfrica acquires half of NAMCOR’s shares in Kavango basin

NAMIBIA – Reconnaissance Energy Africa (ReconAfrica), a Canadian oil and gas company, has announced that it has entered into a definitive purchase and sale agreement with its partner, Namcor Exploration and Production (NAMCOR). The partnership is to acquire half of NAMCOR’s 10% carried participating interest in the approximate 6.3 million acres petroleum exploration licence (PEL 73) in the Kavango basin,…

Read More

NamPower increases affordable electricity with the launch of 20 MW solar power plant

NAMIBIA – Namibian state-owned utility, NamPower, has inaugurated the utility’s first fully owned 20MW photovoltaic (PV) power plant in Omaruru in the Erongo region. The Omburu PV project which took 15 months to complete, was constructed through a joint venture between Hopsol Africa and Tulive Private Equity. According to Nampower, the plant, which occupies 40 hectares, is expected to supply…

Read More

Alpha Namibia secures bid to provide 18MW solar power to Namibia

NAMIBIA – Alpha Namibia Industrial Renewable Power Limited (ANIREP) has been selected as the preferred bidder for an Independent Power Producers (IPP) bid for the provision of 18.5 Megawatt power via the Modified Single Buyer (MSB) Framework. This is now only still subject to the successful conclusion of the terms of a Power Purchase Agreement (PPA). On completion of this…

Read More

Last mile distributor JABU raises US$15m in Series A round to expand into new markets

NAMIBIA – JABU, a last-mile distribution e-commerce firm based in Namibia, has raised US$15 million in a Series A round led by Tiger Global. Tiger Global’s second investment in the B2B e-commerce industry comes after backing Wasoko in its mammoth Series B round, which was completed in March. It’s also worth mentioning that this transaction took place before Tiger Global’s…

Read More

IPP Access Aussenkehr starts work on the 20 MWp Khan solar power plant

NAMIBIA – Independent power producer (IPP) Access Aussenkehr Solar One Namibia has launched the construction of the Khan solar photovoltaic power plant in the Erongo province of Namibia. The project involves the construction of a ground-mounted solar photovoltaic power plant with a capacity of 20 MWp. The Namibia-based independent power producer (IPP) will invest no less than N$300 million (US$20.6…

Read More

Letshego Bank Namibia secures US$30m facility to extend affordable housing finance

NAMIBIA – Letshego Bank Namibia, a commercial bank, and the International Finance Corporation (IFC) to provide Namibians with affordable housing finance. The IFC is a member of the World Bank group and is headquartered in Washington, DC, in the United States. It offers investment, advisory and asset management services to encourage private-sector development in less-developed countries. A statement from the…

Read More

Canada’s Eco Oil & Gas to acquire Namibia’s exploration company Azinam Group Limited

NAMIBIA – Eco (Atlantic) Oil & Gas, a Toronto-headquartered oil and gas exploration company focused on the offshore Atlantic margins, has signed a memorandum of understanding to acquire 100% of Azinam Group Limited, a wholly owned subsidiary of Azinam Holdings Limited. AziNam is an exploration and production company focused on rapidly progressing the exciting opportunities in Namibia. Offshore South Africa…

Read More

Telecoms company PARATUS Namibia invests US$8m in data center

NAMIBIA – PARATUS Namibia, a telecommunications and infrastructure provider, is constructing a N$123 million (US$8.15m) data centre in the Brakwater area of Windhoek. According to a statement released by the company the facility, to be christened the Armada Data Centre, will be launched in August. “It will be the first carrier neutral and the largest data centre in Namibia and…

Read More

NEDBANK Namibia set to fund seven projects through its Go Green Fund

NAMIBIA – NEDBANK Namibia, a financial service holding company, through its Go Green Fund, has put aside N$747,745 (US$49,519) in grants to fund seven projects that support the environment and preserve nature conservation in Namibia. The bank says this will contribute to building the country’s green economy. Those benefiting from the grants include the Namibia University of Science and Technology,…

Read More

Cleanergy Namibia to construct hydrogen and ammonia production plant

NAMIBIA – Cleanergy Namibia, a joint venture that will develop green hydrogen production projects in Namibia, has announced the construction of a hydrogen and ammonia production plant in the Erongo region of Namibia. The joint venture between Ohlthaver & List (O&L) and CMB. Tech will equip the plant with a solar photovoltaic power plant. The capacity of the future installations…

Read More