Year: 2022




CPI Report: March 2022

Executive summary

  • The annual inflation rate for March 2022 increased to (4.5%), up from (3.1%) recorded in March 2021. See figure 1
  • The annual inflation rate for March 2022 remained at 4.5% in relation to February 2022.
  • The main drivers of an increase in the annual inflation rate were transport, hotels, cafes and restaurants, furnishing, household equipment, and maintenance of the house categories. See figure 2
  • On a monthly basis, Namibia recorded an inflation rate of 0.5% in March 2022 in relation to 0.2% recorded in February 2022

Analysis

  • The transport category recorded an increase in the annual inflation rate from (2.4%) to (13.8%). This resulted from an increase in the operation of personal transport equipment (fuel costs)
  • Hotels, cafes, and restaurants recorded an increase in the annual inflation rate from (-0.2%) to (8.6%). This was influenced by an increase in the demand for accommodation services at the back of eased travel restrictions
  • Furnishings, household equipment, and routine maintenance of the house recorded an increase in the annual inflation rate from (4.1%) to (8.1%) as a result of an increase in the price levels of goods and services for routine household maintenance

Figure 1: Annual Inflation rate

Source: NSA & HEI RESEARCH 

Figure 2: Categorical analysis Year on Year %, Namibia

Source: NSA & HEI RESEARCH 

Outlook

We anticipate that the annual inflation rate will remain elevated in the medium term driven by soft commodities and transport inflation. We project stabilization factors in inflation to come into play over the long term.

NSX DAILY UPDATE (13 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  488,938  48,151,066 100.00%
ETFs  -    -   0.00%
Total  488,938  48,151,066  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 48,151,066 worth of shares was traded on the NSX on Wednesday, with about N$7,199,748 worth of Anglo-American plc, N$   65,299  worth of Shoprite Holdings and N$   9,360 of Namibia Breweries on the home front. No ETFs were traded on Wednesday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price increased in price at closing
  • Shares belonging to Shoprite Holdings were sold off as market conditions intensify.
  • On the NSX local listing, Paratus Namibia Holdings Ltd shares were sold off.
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 40.01 40.00 -0.02%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.69 13.69 0.00%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 4.99 4.99 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.51 2.51 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.01 12.01 0.00%
Mobile Telecommunication Company MOC 7.52 7.52 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 771.40 781.42 1.30%
B2Gold Corporation B2G 68.58 69.03 0.66%
Oceana Group Limited OCG 58.77 57.60 -1.99%
Mediclinic International Plc MEP 71.50 72.82 1.85%
Truworths TRW 55.14 55.25 0.20%
Nedbank Group Limited NBK 221.06 219.15 -0.86%
Standard Bank Group SNB 171.95 166.52 -3.16%
Shoprite Holdings SRH 238.77 234.61 -1.74%
FirstRand Limited FST 71.54 70.49 -1.47%
Momentum Metropolitan Holdings MMT 17.59 16.89 -3.98%
Old Mutual Ltd OMM 13.39 12.61 -5.83%
Sanlam Limited SLA 70.50 69.44 -1.50%
Santam Limited SNM 293.53 284.37 -3.12%
Vukile Property Fund Limited VKN 13.66 13.92 1.90%
Investec Limited IVD 95.40 93.28 -2.22%
PSG Konsult Limited KFS 13.80 13.54 -1.88%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 266.67 269.08 0.90%
New Gold Platinum ETF N NGNPLT 335.60 334.76 -0.25%
New Funds S&P NAM Bond NFNAMA 137.48 137.36 -0.09%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.55
EUR/ZAR 15.88
GBP/ZAR 19.11
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.74
USD/JPY 125.37
Commodities  
Gold 1,974.10
Silver 26.03
Platinum 986.00
Palladium 2,358.02
WTI 103.00
Brent 107.73

Table 5: Exchange Rates and Commodities 


Local News

Politicians have been fingered by the Government Institutions Pension Fund (GIPF) as some of the culprits whenit comes to squandering pension money, subsequently subjecting them to rely on money from families and friends to get by. (Namibian Sun)

Political parties are seemingly embarking on early campaigns by aggressively coming out of their cacoons to snap up potential members as the political landscape heats up ahead of the 2024 general elections.  (New Era Newspaper)

Railway company TransNamib is moving to auction non-core properties, which mostly compromise the houses accommodating staff members. (The Namibian)

Sub-Sahara News

This week’s devastating flooding, which has left over 300 people dead, according to latest estimates, is the third major flood disaster in KwaZulu-Natal in the past three years. (News24)

Sub-Saharan Africa’s economy is set to grow 3.6% this year, down from 4% in 2021, the World Bank said on Wednesday, as it warned rising food and energy prices fuelled by Russia’s war in Ukraine could spark civil unrest in the region. (CNBC Africa)

In an unexpected announcement, Prime Minister Patrick Achi and his Cabinet have tendered their resignation. The leader of Ivory Coast's government had held the job for a little over a year. (All Africa News)

International News

When Chinese Premier Li Keqiang called for a “sense of urgency” about growing economic risks during a meeting with provincial officials earlier this week, it was his third such warning in days. (Aljazeera News)

European stocks advanced on Thursday, even as a cautious undertone prevailed following hawkish Federal Reserve minutes and Washington's new sanctions against Russia. (RTT News)

The man suspected of setting off smoke bombs and spraying gunfire inside a New York City subway car, injuring 23 people, was arrested on Wednesday on a federal charge of violently attacking a mass transportation system, capping an around-the-clock manhunt. (Reuters)

NSX DAILY UPDATE (12 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  192,462  12,835,322 100.00%
ETFs  -    -   0.00%
Total  192,462  12,835,322  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 12,835,322 worth of shares was traded on the NSX on Tuesday, with about N$  8,057,912  worth of Anglo-American plc, N$  341,961 worth of Oceana Group Limited and N$  46,239  of Paratus Namibia Holdings Ltd on the home front. No ETFs were traded on Tuesday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price decreased in price as market tremble aimed the geo-political tensions around the world.
  • Shares belonging to Oceana Group Limited increased in price despite bearish conditions
  • On the NSX local listing, Paratus Namibia Holdings Ltd shares were sold off.
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 40.01 40.01 0.00%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.69 13.69 0.00%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 4.99 4.99 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.51 2.51 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.02 12.01 -0.08%
Mobile Telecommunication Company MOC 7.52 7.52 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 777.00 771.40 -0.72%
B2Gold Corporation B2G 68.14 68.58 0.65%
Oceana Group Limited OCG 58.23 58.77 0.93%
Mediclinic International Plc MEP 71.91 71.50 -0.57%
Truworths TRW 57.00 55.14 -3.26%
Nedbank Group Limited NBK 223.00 221.06 -0.87%
Standard Bank Group SNB 173.52 171.95 -0.90%
Shoprite Holdings SRH 242.05 238.77 -1.36%
FirstRand Limited FST 72.80 71.54 -1.73%
Momentum Metropolitan Holdings MMT 17.58 17.59 0.06%
Old Mutual Ltd OMM 13.53 13.39 -1.03%
Sanlam Limited SLA 70.00 70.50 0.71%
Santam Limited SNM 290.72 293.53 0.97%
Vukile Property Fund Limited VKN 13.80 13.66 -1.01%
Investec Limited IVD 103.30 95.40 -7.65%
PSG Konsult Limited KFS 13.60 13.80 1.47%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 265.91 266.67 0.29%
New Gold Platinum ETF N NGNPLT 349.91 335.60 -4.09%
New Funds S&P NAM Bond NFNAMA 138.76 137.48 -0.92%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.47
EUR/ZAR 15.69
GBP/ZAR 18.84
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.74
USD/JPY 125.64
Commodities  
Gold 1,970.70
Silver 25.71
Platinum 974.40
Palladium 2,389.77
WTI 100.86
Brent 105.06

Table 5: Exchange Rates and Commodities 


Local News

Finance Minister Iipumnu Shiimi has defended a change in pension fund regulation that would make it compulsory for individuals to preserve 75% of the value of their pensions until the age of 55. (Namibian Sun)

The Namibia Blood Transfusion Services (NamBTS) is pleading with individuals to come forth and donate blood due to the current shortage of bloody fluid.  (New Era Newspaper)

Swakop Uranium mine is accused of convincing its permanent employees to work overtime in exchange for meals worth N$ 200 at the mine’s canteen. (The Namibian)

Sub-Sahara News

It has emerged that Magister Investments, the obscure Mauritian company planning to take control of Tongaat, has a 41% mystery shareholder which has only been identified as "family" of the public face of the controversial deal. (News24)

The World Bank said on Tuesday it has signed deals to finance four projects in Senegal worth a total of $495 million to help improve education, electricity, economic development and road access to rural areas. (CNBC Africa)

Climate change activist Mithika Mwenda, the Executive Director of the Pan African Climate Justice Alliance (PACJA), is not reluctant to engage African governments to do what's necessary to commit to post-COVID-19 green growth strategies. (All Africa News)

International News

Ukrainian authorities say they captured a prominent pro-Kremlin tycoon who escaped from house arrest after Russia’s invasion. (Aljazeera News)

Asian stocks tumbled on Wednesday, the U.S. dollar strengthened and bond yields surged as investors pondered the possibility of aggressive monetary tightening by the U.S. Federal Reserve to fight inflation. (RTT News)

The Chinese commercial capital of Shanghai warned on Wednesday that anyone who violates COVID-19 lockdown rules will be dealt with strictly, while also rallying people to defend their city as its tally of new cases rebounded to more than 25,000. (Reuters)

MPC Outlook, April 2022

Background

The Bank of Namibia Monetary Policy Committee (MPC) is set to make its second announcement for 2022 on the interest rate decision on Wednesday the 13th of April 2022. The MPC increased the Repo rate by 25 basis points from 3.75% to 4.0% in their first MPC meeting. The MPC was of the view that the rate is appropriate to safeguard the one-to-one link between the Namibia Dollar and the South African Rand while meeting the country’s international financial obligations (See figure 1 below).

The South Africa Reserve Bank increased its repo rate by 50 basis points since the beginning of the year 2022 to counter inflation. High inflation rates remain a global challenge augmented by surging commodity prices and supply chain bottlenecks reflecting domestic capacity constraints and higher prices for imported goods (See figure 2 below).

Figure 1: Repo Rate, Namibia, South Africa, and China (March 2021-March 2022)

Source: BON, SA Reserve Bank, The People’s Bank of China & HEI Research

Figure 2: Namibia and selected Economies Annual Inflation (February 2021- February 2022)

Source: NSA, Stats SA, Stats China, Stats NZ, Stats Euro Area & HEI Research

Outlook

Given that the South African Reserve Bank indicated a policy path rate of an increase in each quarter for the next three years, we are of the view that the Bank of Namibia may follow the same path to safeguard the one-to-one link between the Namibia Dollar and the South African Rand. However high-interest rates exert pressure on household consumption and as a result, we expect the private sector credit extension for Namibia to remain subdued due to a decline in the demand for credit.

NSX DAILY UPDATE (11 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  132,787  14,602,864 100.00%
ETFs  -    -   0.00%
Total  132,787  14,602,864  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 14,602,864 worth of shares was traded on the NSX on Monday, with about N$ 448,750 worth of Anglo-American plc, N$ 46,098  worth of Mediclinic International Plc and N$ 260,665  of Namibia Breweries on the home front. No ETFs were traded on Monday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price decreased in price as market tremble aimed the geo-political tensions around the world.
  • Shares belonging to Mediclinic International Plc increased in price despite bearish conditions
  • On the NSX local listing, Namibia Breweries  shares bought before the trading stops on Wednesday as Heineken acquisition comes to an end.
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 40.00 40.01 0.02%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.80 13.69 -0.80%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 5.00 4.99 -0.20%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.50 2.51 0.40%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.01 12.02 0.08%
Mobile Telecommunication Company MOC 7.51 7.52 0.13%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 792.31 777.00 -1.93%
B2Gold Corporation B2G 68.02 68.14 0.18%
Oceana Group Limited OCG 57.57 58.23 1.15%
Mediclinic International Plc MEP 71.82 71.91 0.13%
Truworths TRW 56.95 57.00 0.09%
Nedbank Group Limited NBK 223.11 223.00 -0.05%
Standard Bank Group SNB 173.50 173.52 0.01%
Shoprite Holdings SRH 245.01 242.05 -1.21%
FirstRand Limited FST 72.63 72.80 0.23%
Momentum Metropolitan Holdings MMT 17.64 17.58 -0.34%
Old Mutual Ltd OMM 13.65 13.53 -0.88%
Sanlam Limited SLA 68.59 70.00 2.06%
Santam Limited SNM 297.27 290.72 -2.20%
Vukile Property Fund Limited VKN 13.69 13.80 0.80%
Investec Limited IVD 103.55 103.30 -0.24%
PSG Konsult Limited KFS 13.30 13.60 2.26%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 266.49 265.91 -0.22%
New Gold Platinum ETF N NGNPLT 342.22 349.91 2.25%
New Funds S&P NAM Bond NFNAMA 138.96 138.76 -0.14%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.55
EUR/ZAR 15.82
GBP/ZAR 18.96
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.74
USD/JPY 125.52
Commodities  
Gold 1,957.90
Silver 25.35
Platinum 983.20
Palladium 2,450.50
WTI 96.41
Brent 100.51

Table 5: Exchange Rates and Commodities 


Local News

Chinese businessman Li Bailong has filed a counter lawsuit of N$ 500,000 against former employee Itakeya George, who had accused him of stripping her naked in full view of co-workers and customers. (Namibian Sun)

Former public enterprises minister Leon Jooste says government is struggling to attract quality and skilled board members to fill positions at state-owned enterprises.  (New Era Newspaper)

Namibian trade unions have joined the uproar over the Financial Institutions and Markets Act (FIMA), claiming they have not been consulted by the Namibia Financial Institutions Supervisory Authority (NamFisa) regarding the proposed preservation of retirement benefits. (The Namibian)

Sub-Sahara News

SA's economic recovery depends on affordably, reliable energy - but capitulating to ongoing applications by Eskom for tariff increases in the long term would amount to rewarding inefficiency. (News24)

As Russian troops fought in Ukraine last month and the West sought global support for sanctions against the Kremlin, South African left-wing firebrand Julius Malema told a crowd he and his supporters would never turn on Russia after its support in the fight against apartheid. (CNBC Africa)

Although safe and effective COVID-19 vaccinations are available, the pandemic is still far from over, and countries affected by conflict are in danger of being left behind, the UN Security Council heard on Monday. (All Africa News)

International News

Sharply higher global food and energy prices due to the war in Ukraine are hitting developing countries hard, and better mechanisms for dealing with sovereign debt stress will be needed to stave off defaults, the International Monetary Fund (IMF) said on Monday. (Aljazeera News)

Australia's central bank kept its key interest rate unchanged at a record low, as widely expected, and signaled a hawkish stance going forward (RTT News)

Taiwan's military released a handbook on civil defence for the first time on Tuesday, giving citizens survival guidance in a war scenario as Russia's invasion of Ukraine focuses attention on how the island should respond to China's pressure. (Reuters)

NSX DAILY UPDATE (08 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  19,952  2,321,764 62.79%
ETFs  5,160  1,376,172 37.21%
Total  25,112  3,697,936  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$  3,697,936 worth of shares was traded on the NSX on Friday, with about N$   1,278,217  worth of Santam Limited, N$    273,914 worth of Mediclinic International Plc and N$   89,700  of Capricorn Group on the home front. ETFs worth N$ 1,376,172 were traded on Friday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Santam Limited share price increased in price as market participants targets insurance companies.
  • Shares belonging to Mediclinic International Plc increased in price despite bearish conditions
  • On the NSX local listing, Capricorn Group  shares were dumped resulting in decline in share price at market closing.
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 40.00 40.00 0.00%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.84 13.80 -0.29%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 5.00 5.00 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.50 2.50 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.01 12.01 0.00%
Mobile Telecommunication Company MOC 7.51 7.51 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 766.29 792.31 3.40%
B2Gold Corporation B2G 66.76 68.02 1.89%
Oceana Group Limited OCG 57.52 57.57 0.09%
Mediclinic International Plc MEP 70.25 71.82 2.23%
Truworths TRW 57.37 56.95 -0.73%
Nedbank Group Limited NBK 226.34 223.11 -1.43%
Standard Bank Group SNB 174.27 173.50 -0.44%
Shoprite Holdings SRH 241.72 245.01 1.36%
FirstRand Limited FST 73.05 72.63 -0.57%
Momentum Metropolitan Holdings MMT 17.42 17.64 1.26%
Old Mutual Ltd OMM 13.80 13.65 -1.09%
Sanlam Limited SLA 67.88 68.59 1.05%
Santam Limited SNM 297.00 297.27 0.09%
Vukile Property Fund Limited VKN 13.58 13.69 0.81%
Investec Limited IVD 102.06 103.55 1.46%
PSG Konsult Limited KFS 13.22 13.30 0.61%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 267.50 266.49 -0.38%
New Gold Platinum ETF N NGNPLT 320.73 342.22 6.70%
New Funds S&P NAM Bond NFNAMA 136.53 138.96 1.78%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.67
EUR/ZAR 15.97
GBP/ZAR 19.10
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.74
USD/JPY 125.01
Commodities  
Gold 1,941.10
Silver 24.85
Platinum 985.45
Palladium 2,485.77
WTI 96.23
Brent 100.84

Table 5: Exchange Rates and Commodities 


Local News

Local fishing industry stakeholders want the government to ban foreigners from taking part in quota auctions, to spur growth in the fishing industry. (Namibian Sun)

The vast swarm of locusts, which have decimated vital crops and grassland in the south of the country, has also been linked to the latest road accident which claimed three lives on Friday outside Keetmanshoop.  (New Era Newspaper)

Momentum is building against a regulation in the Financial Institutions and Markets Act 2 of 2021 (FIMA) which will see 75% of pension lump sums being withheld until a worker reaches the age of 55. (The Namibian)

Sub-Sahara News

South Africa needs $833.6 billion (~R12.3 trillion) to fund its transition to net-zero emissions, and assistance from developed markets is critical, according to a report by Standard Chartered. (News24)

Most emerging market currencies will continue to struggle against the mighty dollar over the coming year as the U.S. Federal Reserve finally delivers expected aggressive policy tightening, according to a Reuters poll of FX strategists. (CNBC Africa)

The National Industrial Court in Lagos has ordered the telecom giant, Airtel, to pay about N160 million to Abdul-Hakeem Olasewere, an employee wrongfully dismissed by the company on Christmas eve, 2013. (All Africa News)

International News

China’s inflation rose more than expected in March as COVID-19 lockdowns and the fallout of the war in Ukraine pushed up prices in the world’s second-largest economy. (Aljazeera News)

German exports rebounded at a stronger-than-expected pace in February, data from Destatis showed on Monday. (RTT News)

French President Emmanuel Macron will take his hunt for extra votes to the industrial heartlands of northern France on Monday, a blue-collar stronghold of his far-right rival Marine Le Pen who he will face in an April 24 presidential runoff vote. (Reuters)

NSX DAILY UPDATE (07 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  1,475,338  98,929,490 100.00%
ETFs  -    -   0.00%
Total  1,475,338  98,929,490  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 98,929,490 worth of shares was traded on the NSX on Thursday. with about N$  14,855,853  worth of Anglo-American, N$     995,215 worth of Mediclinic International Plc and N$  11,320  of Namibia Breweries on the home front. No ETFs were traded on Thursday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price decreased  aimed the bearish market conditions
  • Shares belonging to Mediclinic International Plc increased in price in spite of bearish conditions
  • On the NSX local listing, Namibia Breweries shares are frequenctly being dumped by market participants as shareholder loses investor confidence shortly after the company uttered there were no interim dividend.
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 41.99 40.00 -4.74%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.84 13.84 0.00%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 5.00 5.00 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.50 2.50 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.01 12.01 0.00%
Mobile Telecommunication Company MOC 7.51 7.51 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 772.50 766.29 -0.80%
B2Gold Corporation B2G 67.07 66.76 -0.46%
Oceana Group Limited OCG 56.70 57.52 1.45%
Mediclinic International Plc MEP 68.01 70.25 3.29%
Truworths TRW 57.65 57.37 -0.49%
Nedbank Group Limited NBK 230.41 226.34 -1.77%
Standard Bank Group SNB 175.35 174.27 -0.62%
Shoprite Holdings SRH 241.19 241.72 0.22%
FirstRand Limited FST 75.32 73.05 -3.01%
Momentum Metropolitan Holdings MMT 17.48 17.42 -0.34%
Old Mutual Ltd OMM 14.10 13.80 -2.13%
Sanlam Limited SLA 68.29 67.88 -0.60%
Santam Limited SNM 300.09 297.00 -1.03%
Vukile Property Fund Limited VKN 13.93 13.58 -2.51%
Investec Limited IVD 101.00 102.06 1.05%
PSG Konsult Limited KFS 13.30 13.22 -0.60%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 263.38 267.50 1.56%
New Gold Platinum ETF N NGNPLT 310.18 320.73 3.40%
New Funds S&P NAM Bond NFNAMA 135.19 136.53 0.99%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.75
EUR/ZAR 16.03
GBP/ZAR 19.27
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.76
USD/JPY 124.02
Commodities  
Gold 1,921.20
Silver 24.74
Platinum 961.75
Palladium 2,276.00
WTI 96.81
Brent 101.29

Table 5: Exchange Rates and Commodities 


Local News

The education sector is in crisis. Some schools have more than 100 learners per teacher, while others have not had accounting and mathematics teachers for three years. (Namibian Sun)

The Namibia Financial Institutions Supervisory Authority (NamFisa) yesterday urged the working public to remain calm ahead of the final standards and regulations on the Preservation of Retirement Benefits to be made under the Financial Institutions and Markets Act, 2021 (FIMA).  (New Era Newspaper)

The Central Procurement Board of Namibia (CPBN) has disqualified three companies- controlled by three brothers- from bidding for contracts valaued at N$ 382 million to supply maize meal and protein to the education ministry. (The Namibian)

Sub-Sahara News

The SA Revenue Service (SARS) saw nearly two million taxpayers who tried for refunds that were not allowed – some of which were "downright criminal", Commissioner Edward Kieswetter has said. (News24)

In South Africa, failed rescue attempts and a lack of qualified practitioners have contributed to what Deloitte is calling a "crisis of trust" in the business rescue industry. (CNBC Africa)

As of April 8, 2022, confirmed cases of Covid-19 from 55 African countries reached 11,435,999 while over  273,178,717 vaccinations have been administered across the continent. (All Africa News)

International News

Two people have been killed and 10 wounded in a series of shootings in the heart of the Israeli city of Tel Aviv. .(Aljazeera News)

Asian stocks ended mixed on Friday after reports suggested Russian forces have been repositioning with a goal of focusing on securing the separatist republics in Ukraine's eastern Donbas region. (RTT News)

Russia gave the most sombre assessment so far of its invasion of Ukraine, describing the "tragedy" of mounting troop losses and the economic hit from sanctions, as Ukrainians were evacuated from eastern cities before an anticipated major offensive. (Reuters)

Trade statistics Report: February 2022

Executive Summary


Analysis


  •  Total export earnings declined by 8.9% for February 2022 when compared to January 2022. This was attributed to a drop in the exports of non-monetary gold, fish, inorganic chemical, fruits, and nuts
  • On an annual basis, total exports earnings increased by 47.1% year on year. This resulted from an increase in the exports earnings recorded for commodities such as precious stones, uranium, and copper blisters
  • Import bill dropped by 7.8% for February 2022 when compared to January 2022. This was due to a decline in the import of copper ores and concentrates, petroleum oils, road motor vehicles, and fertilizers
  • On an annual basis, total imports increased by 51.7%. This was influenced by an increase in the importation of vessels, inorganic chemical elements, and  motor vehicles (See figure 1 below)
  • The trade balance increased by 58.9% for February 2022 in relation to the same period last year (See figure 2 below)

Figure 1: Export and Import value N$ million, (February 2021 – February 2022)

Source: Namibia Statistics Agency & HEI RESEARCH

Figure 2: Trade Balance (February 2021 - February 2022)

Source: NSA & HEI RESEARCH

Outlook


The country’s trade deficit continues to widen. Given the ambiguous current economic environment whereby energy and commodity prices continue spurring investments to improve local procurement of food production is of utmost importance. The beneficiation and value addition of raw materials in the domestic market should be explored.

NSX DAILY UPDATE (06 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  201,824  11,199,586 89.32%
ETFs  5,063  1,339,128 10.68%
Total  206,887  12,538,714  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 11,199,586 worth of shares was traded on the NSX on Wednesday. with about N$ 2,237,307 worth of Anglo-American, N$    383,440 worth of Mediclinic International Plc and N$ 548,852 of Namibia Breweries on the home front. ETFs worth N$ 1,339,128 were traded on Wednesda.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price decreased  aimed the bearish market conditions
  • Shares belonging to Mediclinic International Plc increased in price in spite of bearish conditions
  • On the NSX local listing, Namibia Breweries shares were traded  by market participants, with a decrease in share price
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 44.98 41.99 -6.65%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.89 13.84 -0.36%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 5.00 5.00 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.50 2.50 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 12.00 12.01 0.08%
Mobile Telecommunication Company MOC 7.51 7.51 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 779.42 772.50 -0.89%
B2Gold Corporation B2G 68.42 67.07 -1.97%
Oceana Group Limited OCG 57.64 56.70 -1.63%
Mediclinic International Plc MEP 67.67 68.01 0.50%
Truworths TRW 57.07 57.65 1.02%
Nedbank Group Limited NBK 228.73 230.41 0.73%
Standard Bank Group SNB 178.84 175.35 -1.95%
Shoprite Holdings SRH 234.43 241.19 2.88%
FirstRand Limited FST 74.46 75.32 1.15%
Momentum Metropolitan Holdings MMT 17.45 17.48 0.17%
Old Mutual Ltd OMM 13.76 14.10 2.47%
Sanlam Limited SLA 70.95 68.29 -3.75%
Santam Limited SNM 295.82 300.09 1.44%
Vukile Property Fund Limited VKN 13.72 13.93 1.53%
Investec Limited IVD 100.99 101.00 0.01%
PSG Konsult Limited KFS 13.20 13.30 0.76%

Table 3: Dual Listed Trades

Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 263.55 263.38 -0.06%
New Gold Platinum ETF N NGNPLT 325.42 310.18 -4.68%
New Funds S&P NAM Bond NFNAMA 137.82 135.19 -1.91%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.68
EUR/ZAR 16.03
GBP/ZAR 19.21
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.76
USD/JPY 123.61
Commodities  
Gold 1,923.90
Silver 24.41
Platinum 948.40
Palladium 2,232.70
WTI 97.81
Brent 102.84

Table 5: Exchange Rates and Commodities 


Local News

FDI has been identified as critical to the country's economic recovery and unlocking opportunities that enable a better quality of life for all Namibians. (Namibian Sun)

After an eventful six months of promoting Namibia as an investment and tourist destination at the Expo 2020 Dubai, the Namibian Pavilion has officially closed its doors as the curtain falls. (New Era Newspaper)

The Namibia Transport and Taxi Union (NTTU) is demanding at least a 40% taxi fare increment which will see the price for a single trip being hiked from N$13 to N$19. (The Namibian)

Sub-Sahara News

A long-awaited exploration strategy for the mining sector has been gazetted but the development of a critical cadastre system remains a "nightmare" for the Department of Mineral Resources and Energy, Minister Gwede Mantashe has said. (News24)

Britain’s Moxico Resources IPO-MOXI.L plans to invest $100 million to expand its majority-owned Mimbula copper mine in Zambia, UK Minister for Africa Vicky Ford said on Wednesday. (CNBC Africa)

Internet giant Google is celebrating the 151st birthday of Charlotte Maxeke, popularly known as the "Mother of Black Freedom". Maxeke was a scholar, an evangelist, a political activist, as well as an advocate for women's rights. She was also the first black woman to graduate with a university degree in South Africa. (All Africa News)

International News

As Russia flounders on the battlefields of Ukraine, the once-unthinkable possibility of nuclear weapons use is now on the rise, as President Vladimir Putin’s options for victory narrow. (Aljazeera News)

European bourses are expected to open on a cautious note on Thursday as sentiment remains impacted by the geopolitical crisis in the region that continues unabated. (RTT News)

Yemen's president dismissed his controversial deputy on Thursday and delegated his own powers to a presidential council in a move backed by Saudi Arabia, removing some obstacles to U.N.-led efforts to revive negotiations to end the seven-year war. (Reuters)

NSX DAILY UPDATE (05 APRIL 2022)

NSX Trades Traded Volume (No. Shares) Monetary Amount (N$) Trading Contribution (%)
Overall  1,461,142.  89,849,044 100.00%
ETFs  -    -   0.00%
Total  1,461,142  89,849,044  100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 89,849,044 worth of shares was traded on the NSX on Tuesday. with about N$   5,758,276  worth of Anglo-American, N$   5,683,878 worth of Mediclinic International Plc and N$  2,529,900  of Namibia Breweries on the home front. No ETFs were traded on Monday.

HEI Equity Research Commentary

From the trading activity that took place:

  • Anglo-American share price decreased  aimed the bearish market conditions
  • Shares belonging to Mediclinic International Plc decreased in share price as global markets sell off emerges
  • On the NSX local listing, Namibia Breweries shares were traded  by market participants, with a decrease in share price
Name NSX Local Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Namibian Breweries NBS 44.99 44.98 -0.02%
Nictus Holdings NHL 1.75 1.75 0.00%
Capricorn CGP 13.89 13.89 0.00%
First Rand Namibia FNB 29.51 29.51 0.00%
Standard Bank Namibia SNO 5.00 5.00 0.00%
Oryx Limited ORY 10.20 10.20 0.00%
Letshego LHN 2.50 2.50 0.00%
Namibia Asset Management NAM 0.66 0.66 0.00%
Stimulus SILP 127.90 127.90 0.00%
Paratus Namibia Holdings Ltd PNH 13.00 12.00 -7.69%
Mobile Telecommunication Company MOC 7.51 7.51 0.00%
Alpha Namibia Industries Renewable Power Limited ANE 9.00 9.00 0.00%

Table 2: Primary listed Trades


­­

Name South African Dual Listed Ticker Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
Anglo-American plc ANM 782.68 779.42 -0.42%
B2Gold Corporation B2G 69.12 68.42 -1.01%
Oceana Group Limited OCG 57.82 57.64 -0.31%
Mediclinic International Plc MEP 68.10 67.67 -0.63%
Truworths TRW 58.28 57.07 -2.08%
Nedbank Group Limited NBK 232.61 228.73 -1.67%
Standard Bank Group SNB 182.01 178.84 -1.74%
Shoprite Holdings SRH 235.55 234.43 -0.48%
FirstRand Limited FST 76.70 74.46 -2.92%
Momentum Metropolitan Holdings MMT 17.50 17.45 -0.29%
Old Mutual Ltd OMM 13.85 13.76 -0.65%
Sanlam Limited SLA 71.05 70.95 -0.14%
Santam Limited SNM 295.55 295.82 0.09%
Vukile Property Fund Limited VKN 13.75 13.72 -0.22%
Investec Limited IVD 101.00 100.99 -0.01%
PSG Konsult Limited KFS 13.15 13.20 0.38%

Table 3: Dual Listed Trades


Name ETFs Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Issuer Ltd NM NGNGLD Price Previous Close 'N$ Price End of Day 'N$ Daily Change %
New Gold Palladium ETF NGNPLD 263.84 263.55 -0.11%
New Gold Platinum ETF N NGNPLT 324.92 325.42 0.15%
New Funds S&P NAM Bond NFNAMA 139.67 137.82 -1.32%

Table 4: ETFs


Exchange Rates  
USD/ZAR 14.72
EUR/ZAR 16.03
GBP/ZAR 19.23
EUR/GBP 0.83
EUR/USD 1.10
GBP/USD 1.30
AUD/USD 0.76
USD/JPY 123.93
Commodities  
Gold 1,920.40
Silver 24.38
Platinum 968.50
Palladium 2,246.52
WTI 102.07
Brent 106.96

Table 5: Exchange Rates and Commodities 


Local News

The Institute for Public Policy Research (IPPR) has accused the government of shrouding in secrecy details linked to the awarding of the first ever green hydrogen project. (Namibian Sun)

President Hage Geingob will this afternoon deliver his annual State of the Nation Address (SONA) amid escalating prices of consumer goods, rampant unemployment and a struggling economy. (New Era Newspaper)

Around 890 houses completed under the government’s mass housing programme have still not been handed over to beneficiaries seven years after president Hage Geingob stopped the housing project. (The Namibian)

Sub-Sahara News

Global greenhouse gas emissions were at their highest levels in the past decade, and they need to be cut in order to avoid severe climate change impacts. Consumers can also play a significant role in emissions reductions, according to a report. (News24)

Cities are driving the human-caused climate change that threatens the global environment, but also offer hope. (CNBC Africa)

In developing countries, and the sub-Saharan region especially, the scale of unmet basic needs is enormous. It is estimated that 3 billion people in the developing world subsist on less than US$2 a day per person. (All Africa News)

International News

China may portray itself as a neutral party in the war in Ukraine, but the message it communicates to its audience at home tells a different story. (Aljazeera News)

Asian stocks rose broadly on Wednesday amid optimism around a peaceful resolution of the Ukraine war. (RTT News)

The United States and its allies on Wednesday prepared new sanctions on Moscow over civilian killings which President Volodymyr Zelenskiy described as "war crimes", as heavy fighting and Russian airstrikes pounded the besieged port of Mariupol. (Reuters)


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