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COMPANY NEWS IN BRIEF

RMB buys 25% stake in Remgro

Rand Merchant Bank (RMB) has acquired a 25% stake in a Remgro-owned electricity trader, Energy Exchange of Southern Africa. Remgro, chaired by Johann Rupert, developed the exchange over the past five years and it allows corporates to purchase electricity from renewable energy-independent power producers.

According to a joint statement issued by the companies on Wednesday, RMB now has a 25% shareholding in Remgro's energy investment vehicle, Ubiquity Energy platform. Ubiquity is the holding company of Energy Exchange.

Energy Exchange is licensed with the National Energy Regulator of South Africa (Nersa) as an electricity trader.

In response to questions, RMB said the exchange's intellectual property and technical trading capacity - the completion of all the systems, legal and regulatory processes - had been built over the past five years.

But the exchange has become fully operational and gathered momentum around October 2021, after President Cyril Ramaphosa lifted the licence threshold on independent power projects to 100MW in June of that year.

Government has since removed the licensing cap indefinitely, to get generation capacity as quickly as possible online, in response to the energy crisis.

The exchange allows commercial and industrial entities to purchase electricity from licensed independent power producers. They may choose to meet all their energy needs through the exchange (by purchasing all the energy they need). Or they can purchase a portion of their electricity from the exchange and still rely on Eskom or embedded generation (like rooftop solar PV) to meet the remainder of their energy needs.-Fin24

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Allgemeine Zeitung 2024-06-22

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Katima Mulilo: 10° | 28° Rundu: 11° | 27° Eenhana: 12° | 29° Oshakati: 12° | 29° Ruacana: 12° | 29° Tsumeb: 13° | 25° Otjiwarongo: 10° | 24° Omaruru: 12° | 26° Windhoek: 9° | 23° Gobabis: 9° | 23° Henties Bay: 16° | 32° Wind speed: 23km/h, Wind direction: SE, Low tide: 09:31, High tide: 03:25, Low Tide: 21:49, High tide: 16:01 Swakopmund: 17° | 24° Wind speed: 22km/h, Wind direction: S, Low tide: 09:29, High tide: 03:23, Low Tide: 21:47, High tide: 15:59 Walvis Bay: 20° | 31° Wind speed: 24km/h, Wind direction: S, Low tide: 09:29, High tide: 03:22, Low Tide: 21:47, High tide: 15:58 Rehoboth: 9° | 24° Mariental: 11° | 25° Keetmanshoop: 13° | 25° Aranos: 11° | 25° Lüderitz: 17° | 27° Ariamsvlei: 13° | 26° Oranjemund: 13° | 23° Luanda: 20° | 22° Gaborone: 9° | 22° Lubumbashi: 11° | 27° Mbabane: 11° | 17° Maseru: 6° | 18° Antananarivo: 8° | 19° Lilongwe: 13° | 26° Maputo: 18° | 24° Windhoek: 9° | 23° Cape Town: 13° | 20° Durban: 15° | 22° Johannesburg: 9° | 18° Dar es Salaam: 21° | 30° Lusaka: 13° | 23° Harare: 11° | 23° Currency: GBP to NAD 22.68 | EUR to NAD 19.2 | CNY to NAD 2.47 | USD to NAD 17.96 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.28 | RUB to NAD 0.2 | INR to NAD 0.21 | USD to DZD 134.42 | USD to AOA 852.48 | USD to BWP 13.51 | USD to EGP 47.65 | USD to KES 127.73 | USD to NGN 1482.3 | USD to ZAR 17.96 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1783.38 Down -0.16% | Casablanca Stock Exchange (CSE) MASI 13140.91 Up +0.02% | Egyptian Exchange (EGX) 30 Index 26417.6 Up +1.09% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 321.88/OZ DOWN -0.0165 | Copper US$ 4.42/lb DOWN -0.0251 | Zinc US$ 2 875.00/T UP 0.09% | Brent Crude Oil US$ 85.10/BBP DOWN -0.0072 | Platinum US$ 990.14/OZ UP +0.92% Sport results: Weather: Katima Mulilo: 10° | 28° Rundu: 11° | 27° Eenhana: 12° | 29° Oshakati: 12° | 29° Ruacana: 12° | 29° Tsumeb: 13° | 25° Otjiwarongo: 10° | 24° Omaruru: 12° | 26° Windhoek: 9° | 23° Gobabis: 9° | 23° Henties Bay: 16° | 32° Wind speed: 23km/h, Wind direction: SE, Low tide: 09:31, High tide: 03:25, Low Tide: 21:49, High tide: 16:01 Swakopmund: 17° | 24° Wind speed: 22km/h, Wind direction: S, Low tide: 09:29, High tide: 03:23, Low Tide: 21:47, High tide: 15:59 Walvis Bay: 20° | 31° Wind speed: 24km/h, Wind direction: S, Low tide: 09:29, High tide: 03:22, Low Tide: 21:47, High tide: 15:58 Rehoboth: 9° | 24° Mariental: 11° | 25° Keetmanshoop: 13° | 25° Aranos: 11° | 25° Lüderitz: 17° | 27° Ariamsvlei: 13° | 26° Oranjemund: 13° | 23° Luanda: 20° | 22° Gaborone: 9° | 22° Lubumbashi: 11° | 27° Mbabane: 11° | 17° Maseru: 6° | 18° Antananarivo: 8° | 19° Lilongwe: 13° | 26° Maputo: 18° | 24° Windhoek: 9° | 23° Cape Town: 13° | 20° Durban: 15° | 22° Johannesburg: 9° | 18° Dar es Salaam: 21° | 30° Lusaka: 13° | 23° Harare: 11° | 23° Economic Indicators: Currency: GBP to NAD 22.68 | EUR to NAD 19.2 | CNY to NAD 2.47 | USD to NAD 17.96 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.37 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.28 | RUB to NAD 0.2 | INR to NAD 0.21 | USD to DZD 134.42 | USD to AOA 852.48 | USD to BWP 13.51 | USD to EGP 47.65 | USD to KES 127.73 | USD to NGN 1482.3 | USD to ZAR 17.96 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1783.38 Down -0.16% | Casablanca Stock Exchange (CSE) MASI 13140.91 Up +0.02% | Egyptian Exchange (EGX) 30 Index 26417.6 Up +1.09% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 321.88/OZ DOWN -0.0165 | Copper US$ 4.42/lb DOWN -0.0251 | Zinc US$ 2 875.00/T UP 0.09% | Brent Crude Oil US$ 85.10/BBP DOWN -0.0072 | Platinum US$ 990.14/OZ UP +0.92%