🇳🇦NamibiaSouthern Africa
Namibian Competition Commission approves TotalEnergies licence swap
via The Namibian1 min read
The Namibian Competition Commission has approved a transaction involving TotalEnergies EP Namibia BV and Windhoek PEL 28 BV for the exchange of participating interests in petroleum exploration licences 83, 56, and 91. According to Johannes Ashipala, director of mergers and acquisitions, the commission found that the transaction, despite involving a horizontal overlap, would result in only a marginal change in market share and would not materially affect competition. The regulator concluded that the market remains competitive and identified no public interest concerns. This approval occurs as Namibia's emerging oil and gas sector continues to attract investment from international energy companies.
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This summary was AI-generated from a story originally published by The Namibian.
Italian teenager Kimi Antonelli, driving for Mercedes, won the Belgian Grand Prix, extending his lead in the Formula One drivers’ championship. The 19-year-old finished 1.9 seconds ahead of Ferrari’s Charles Leclerc, with four-time champion Max Verstappen of Red Bull in third. Antonelli’s teammate George Russell crashed out on the opening lap after an incident with Hamilton. Hamilton, driving for Ferrari, finished fourth despite an incident during a pit-stop where he almost hit a mechanic, leading to a stewards’ investigation. Isack Hadjar of Red Bull finished sixth, just ahead of reigning world champion Lando Norris. This victory marks Antonelli’s sixth win and sixth pole position of the season, increasing his championship points to 204, 45 points clear of Hamilton, with Russell in third place with 154 points. The race saw multiple incidents, including a five-second penalty for Hamilton for his collision with Russell, and further investigations by the stewards regarding an unsafe release during a pit-stop.
Must ReadThe African Development Bank has announced a N$5.6 billion investment in Namibia's technical and vocational education and training TVET system and artificial intelligence. This funding aims to modernize vocational institutions, establish a National Artificial Intelligence Institute, and create 15,000 workplace opportunities for young people by 2030. While this is a positive development, there are calls for transparency and accountability, particularly regarding job creation. Concerns have been raised that the 15,000 jobs will be meaningless if private companies are not in a position to hire graduates, which is linked to the fair allocation of state tenders. The article also highlights the need for Information and Communication Technology Minister Emma Theofelus to accelerate the development of laws and regulations for artificial intelligence, noting that policy progress in this area has been slow.
Must ReadNamibia's Ministry of Industries, Mines and Energy has refuted claims that the country lost its bid to acquire a stake in De Beers, labeling circulating information as "misleading and incorrect." Mines minister Modestus Amutse stated that the government would release accurate information through official channels. This follows reports from Botswana's minister in the presidency, Moeti Mohwasa, who informed parliament that Anglo American had selected the Global Diamond Consortium as its preferred bidder for De Beers. Mohwasa mentioned the consortium proposed including Angola and Namibia in the deal, though members were not disclosed. Namibia had previously expressed interest in a De Beers stake after Anglo American decided to divest as part of its restructuring. The Namibian government believes ownership would enhance its position and influence in the global diamond value chain, crucial to its economy. Speculation about a UAE investor's involvement in the consortium has resurfaced, but Amutse previously denied any partnership with such an investor, cautioning against speculation during ongoing negotiations. A detailed update from the government is anticipated.