OpenAI Explores Building 1-Gigawatt Data Center in India Amid Market Expansion-ISSUE #74 ☕

Here’s what’s in focus today:

• Namibia extends the deadline for the National Youth Fund pilot phase proposals to September 4, giving young innovators and entrepreneurs more time to submit their ideas.

• ECB President Christine Lagarde warns of global economic instability linked to interference in the U.S. Federal Reserve under Trump’s leadership — raising fresh concerns for international markets.

• ReconAfrica’s Kavango West 1X drilling project stays on track, with targets set on the Otavi Reservoir by November.

• OpenAI considers a major expansion in India, exploring plans to build a 1-gigawatt data center to support its fast-growing AI operations.

And finally, in a moment of national mourning —Condolence Messag

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BUSINESS & ECONOMY

Namibia Extends Deadline for National Youth Fund Pilot Phase Proposals to September 4

The Ministry of Finance has announced an extension of the deadline for submitting proposals under the National Youth Fund pilot phase to September 4, 2025. During this phase, applications are to be submitted at regional governor’s offices.

Transition to Regular Application Process

Following the official launch in September, the fund will transition into its regular application process. Applicants will then submit proposals directly to key Development Finance Institutions (DFIs), including the Development Bank of Namibia, Environmental Investment Fund, and AgriBank.

Normalization of Application Submissions

The ministry emphasized that daily submissions to the DFIs will become operational, normalizing and streamlining the application process beyond the pilot stage. It also clarified that this phase is not intended to exhaust the available fund resources.

Commitment to Youth Empowerment

The Ministry of Finance reaffirmed its ongoing commitment to empowering Namibian youth and promoting development across multiple sectors through the National Youth Fund initiative.

Source: The Namibian

ECB’s Christine Lagarde Warns of Global Economic Risks from Trump’s Fed Interference

European Central Bank President Christine Lagarde has cautioned that U.S. President Donald Trump’s efforts to remove Federal Reserve Chairman Jerome Powell and Fed Governor Lisa Cook pose a “very serious danger” to both the U.S. and global economies.

Trump has repeatedly criticized Powell for not cutting short-term interest rates and has threatened to fire him. He is also attempting to dismiss Governor Lisa Cook. Lagarde emphasized that any loss of Fed independence, shifting monetary policy control to political influence, could destabilize the world’s largest economy and have alarming worldwide repercussions.

“If U.S. monetary policy were no longer independent and instead dependent on the dictates of this or that person, then I believe the effect on the American economy—and consequently on the global economy—could be very worrying,” Lagarde said in an interview with Radio Classique.

Lagarde also highlighted a recent U.S. appeals court ruling that deemed most of Trump’s tariffs illegal, describing it as adding “a further layer of uncertainty” to the global economic outlook.

Source: Reuters

ReconAfrica’s Kavango West 1X Drilling Remains On Track, Targeting Otavi Reservoir by November

Reconnaissance Energy Africa Ltd (ReconAfrica) confirms that drilling of its Kavango West 1X exploration well in Namibia is progressing as planned. The company anticipates reaching the Otavi carbonate reservoir in late October and achieving a total depth of 3,800 meters by the end of November.

Key Test of Damara Fold Belt Prospect

This well marks ReconAfrica’s first test of the Damara Fold Belt play, targeting over 1,500 meters of the Otavi reservoir within a major structural fold identified through recent 2D seismic data. The fold spans approximately 22 kilometers long and three kilometers wide, representing the initial prospect among 19 mapped in this area.

CEO Brian Reinsborough praised the operations team and expressed optimism about sharing results with stakeholders by year-end.

Leveraging Past Insights

Senior Vice President of Exploration Chris Sembritzky described Kavango West 1X as the highest-potential seismic target in the Damara Fold Belt, citing its size, hydrocarbon migration pathways, and well-defined structural closure. The site selection followed detailed analysis of the earlier Naingopo well results, prompting adjustments to the drilling timeline.

Financial Position and Strategic Outlook

In June, ReconAfrica closed a C$19 million (approximately N$244 million) equity financing, nearly doubling previous projections. Although a planned 3D seismic survey has been postponed to 2026, the company continues to pursue additional acreage acquisitions and joint ventures to expand its portfolio and expedite progress toward production.

Sembritzky stated that with enhanced subsurface data, an experienced drilling crew, and optimized drill bits, the team is well equipped to complete an efficient, safe, and commercially successful well.

Stock Incentives and Licence Portfolio

The company also granted 6.96 million incentive stock options to directors, officers, employees, and consultants, priced at US$0.60 per share, with expiry set for July 31, 2030. These come with typical vesting schedules and resale restrictions.

ReconAfrica holds petroleum licences spanning roughly 13 million contiguous acres across northeastern Namibia, southeastern Angola, and northwestern Botswana.

Source: The Namibian

TECH

OpenAI Explores Building 1-Gigawatt Data Center in India Amid Market Expansion

OpenAI, the parent company of ChatGPT, is reportedly seeking local partners to establish a major data center in India with at least 1 gigawatt of capacity, according to Bloomberg News citing anonymous sources. Reuters has not independently verified this report.

Strategic Move to Strengthen Presence in India

OpenAI has formally registered as a legal entity in India and begun assembling a local team as part of expanding operations in its second-largest market by user base. The company plans to open its first office in New Delhi later this year, signaling a significant push into the region.

Potential Major Step for AI Infrastructure in Asia

The proposed data center could be a landmark project within OpenAI’s broader Stargate initiative — a multi-billion-dollar private sector investment in AI infrastructure backed by major players including Microsoft and SoftBank. The exact location and timeline for the India facility remain uncertain, but CEO Sam Altman may announce the project during his visit to India scheduled for September.

Background on Stargate Initiative

Announced by former U.S. President Donald Trump in January, the Stargate project commits up to $500 billion from private firms such as OpenAI, SoftBank, and Oracle to build AI infrastructure globally.

OpenAI did not immediately respond to Reuters’ request for comment.

Source: Reuters

NAMIBIA

Condolence Message

Revolox Media extends its deepest condolences to the families, colleagues, and loved ones of those who tragically lost their lives in the horrific head-on collision between a Namibian Police Force van and a Namibian Correctional Service van this past weekend.

We mourn with the nation during this time of profound loss and stand in solidarity with the law enforcement and correctional communities who dedicate their lives to protecting and serving Namibia. May the souls of the departed rest in peace, and may their families find strength and comfort in this difficult time.

Revolox Media