Namibia said it won’t be able to renew a trade deal with the European Union by the time an existing agreement expires in October because the 28-nation bloc is inflexible over food and agricultural imports.
QKR Corp., a mining investor founded by former JPMorgan Chase & Co. banker Lloyd Pengilly, is in talks to acquire a Namibian gold mine from AngloGold Ashanti Ltd., according to three people familiar with the matter.
Namibia’s state oil company will start building a 2.5 billion-Namibian-dollar ($241 million) fuel storage and offloading jetty at the port of Walvis Bay next year as it plans a return to the retail market.
Barclays Plc postponed a bid to buy a controlling stake in Namibia’s Bank Windhoek from Capricorn Investment Holdings Ltd. until it completes a transaction that will combine its African business with that of Absa Group Ltd.
Uranium mines operated by companies including Rio Tinto Plc and Paladin Energy Ltd. in Namibia face a water shortage as a drought in the southwest African nation curbs supply to the operations and three coastal towns.
Namibia Power Corp. expects to return its 120-megawatt Van Eck power station to the grid next June after completing an upgrade of the site’s four units, allowing the southwest African country to reduce energy imports.