Year: 2022

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	329 128	33 946 817	99.49%
ETFs	618	173 368	0.51%
Total	329 746	34 120 185	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 33 946 817 worth of shares was traded on the NSX on Thursday, with about N$ 12 325 347 worth of Anglo-American, N$ 18 748 499 worth of Barloworld Limited, and N$ 29 198 worth Capricorn Group Limited on the home front. ETFs worth N$ 173 368 were traded on Thursday.

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American share price reduce in price at closing as investors starts to hedge from a potential war.
• Shares belonging to Barloworld Limited were sold off by market participants as Russia-Ukraine war spiral.
• On the local NSX listing Capricorn Group shares were traded resulting into  a decline in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.23	11.23	0.00%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.97	5.97	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.58	1.58	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.25	8.25	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	725.48	735.23	1.34%
Barloworld Limited	BWL	133.31	124.37	-6.71%
Oceana Group Limited	OCG	54.30	51.90	-4.42%
Mediclinic International Plc	MEP	68.66	67.68	-1.43%
Truworths	TRW	62.38	60.60	-2.85%
Nedbank Group Limited	NBK	213.56	212.02	-0.72%
Standard Bank Group	SNB	159.51	157.98	-0.96%
Shoprite Holdings	SRH	230.59	226.88	-1.61%
FirstRand Limited	FST	65.96	64.57	-2.11%
Momentum Metropolitan Holdings	MMT	18.86	18.24	-3.29%
Old Mutual Ltd	OMM	13.32	12.83	-3.68%
Sanlam Limited	SLA	65.60	63.53	-3.16%
Santam Limited	SNM	276.49	268.16	-3.01%
Vukile Property Fund Limited	VKN	12.70	12.40	-2.36%
Investec Limited	IVD	87.30	84.89	-2.76%
PSG Konsult Limited	KFS	13.70	13.60	-0.73%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	266.92	279.23	4.61%
New Gold Palladium ETF	NGNPLD	352.42	388.38	10.20%
New Gold Platinum ETF N	NGNPLT	158.24	161.36	1.97%
New Funds S&P NAM Bond	NFNAMA	16.69	16.44	-1.50%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.46
EUR/ZAR	17.24
GBP/ZAR	20.63
EUR/GBP	0.83
EUR/USD	1.13
GBP/USD	1.36
AUD/USD	0.72
USD/JPY	115.44
Commodities
Gold	1 921.50
Silver	24.11
Platinum	1 106.90
Palladium	2 524.00
WTI	98.05
Brent	99.01

Table 5: Exchange Rates and Commodities 

Local News

Foreign and local investment seem to be a key variable in driving domestic economy going forward. (Namibian Sun)

Prospects have started to improve for the logistics sector in Namibia, as the rest of the world gradually recovers from the Covid-19 pandemic. This sector is important for the growth of the Namibian economy, as Namibia is well placed to be a logistics hub for its landlocked neighbours. (New Era Newspaper)

Namsov, a subsidiary fishing company of Tunacor Group, opened Namibia's first solar-powered horse mackerel fish processing plant at Walvis Bay on Thursday. (The Namibian)

Sub-Sahara News

The SA wine industry saw R10.2 billion in exports in 2021 - the highest rand value of SA wine exports since 2014, when the current method of calculating it was introduced. (News24)

Scattered throughout the U.S. are millions of old oil and gas wells with no known operator. They’re a major source of methane emissions and can leak contaminants into the groundwater. (CNBC Africa)

The National Energy Regulator of SA has approved the hike for Eskom for the 2022/2023 financial year. The tariff increase comes into effect on April 1. 2022. (All Africa News)

International News

Asian shares rebound but markets eye long-term Russia-Ukraine risk. (Reuters)

Asian stock markets are trading mostly sharply higher on Friday, following the broadly positive cues overnight from Wall Street, as traders picked up stocks at a bargain after the recent sell-off amid the continued escalation of the Russia-Ukraine crisis. (RTT News)

Taiwan Premier Su Tseng-chang has said the island will join “democratic countries” to impose sanctions on Russia over the invasion of Ukraine, although he did not give details. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	269 272	32 048 284	100.00%
ETFs	-	-	0.00%
Total	269 272	32 048 284	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 32 048 284 worth of shares was traded on the NSX on Wednesday, with about N$  1 382 204 worth of Anglo-American, N 9 372 293 worth of Barloworld Limited, and N$     54 763 worth of Mobile Telecommunications 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 reduce in price at closing as investors starts to hedge from a potential war.
• Shares belonging to Barloworld Limited were sold off by market participants as Russia-Ukraine war spiral.
• On the local NSX listing, Mobile Telecommunications shares were traded resulting into  a decline in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.23	11.23	0.00%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.97	-0.17%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.25	8.25	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	742.14	725.48	-2.24%
Barloworld Limited	BWL	134.26	133.31	-0.71%
Oceana Group Limited	OCG	54.30	54.30	0.00%
Mediclinic International Plc	MEP	69.95	68.66	-1.84%
Truworths	TRW	61.82	62.38	0.91%
Nedbank Group Limited	NBK	209.65	213.56	1.87%
Standard Bank Group	SNB	158.65	159.51	0.54%
Shoprite Holdings	SRH	226.32	230.59	1.89%
FirstRand Limited	FST	65.15	65.96	1.24%
Momentum Metropolitan Holdings	MMT	19.18	18.86	-1.67%
Old Mutual Ltd	OMM	13.25	13.32	0.53%
Sanlam Limited	SLA	64.56	65.60	1.61%
Santam Limited	SNM	283.16	276.49	-2.36%
Vukile Property Fund Limited	VKN	12.66	12.70	0.32%
Investec Limited	IVD	86.79	87.30	0.59%
PSG Konsult Limited	KFS	13.70	13.70	0.00%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	268.48	266.92	-0.58%
New Gold Palladium ETF	NGNPLD	352.82	352.42	-0.11%
New Gold Platinum ETF N	NGNPLT	158.69	158.24	-0.28%
New Funds S&P NAM Bond	NFNAMA	16.68	16.69	0.06%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.26
EUR/ZAR	17.16
GBP/ZAR	20.61
EUR/GBP	0.83
EUR/USD	1.13
GBP/USD	1.36
AUD/USD	0.72
USD/JPY	114.47
Commodities
Gold	1 941.05
Silver	25.11
Platinum	1 107.90
Palladium	2 524.00
WTI	98.05
Brent	99.01

Table 5: Exchange Rates and Commodities 

Local News

Foreign and local investment seem to be a key variable in driving domestic economy going forward. (Namibian Sun)

Prospects have started to improve for the logistics sector in Namibia, as the rest of the world gradually recovers from the Covid-19 pandemic. This sector is important for the growth of the Namibian economy, as Namibia is well placed to be a logistics hub for its landlocked neighbours. (New Era Newspaper)

Despite the poor turnout at the Namibia Chamber of Commerce and Industry (NCCI) meeting at the Ongwediva Trade Fair Centre on Monday, NCCI president Bisey /Uirab described it as fruitful. (The Namibian)

Sub-Sahara News

Finance Minister Enoch Godongwana’s first budget was a feel-good one. There were no new taxes, corporate tax fell, the poor got income relief, and education, health, police services and prosecutors all got more money. (News24)

South Africa’s National Treasury on Wednesday flagged an improved fiscal outlook at the 2022 budget, forecasting lower budget deficits and a better debt trajectory. (CNBC Africa)

The UK plans to boost its investment in renewable and climate change projects in Nigeria, the Minister for Africa, Vicky Ford said on her first trip to the country. She added that the UK was keen to improve energy access in Nigeria and help the country to keep to its COP26 commitments. (All Africa News)

International News

Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday, officials and media said, after President Vladimir Putin authorised what he called a special military operation in the east. (Reuters)

Asian stocks ended mostly higher on Thursday after minutes from the latest Fed meeting showed officials are leaning toward more decisive action on inflation but set no firm targets. (RTT News)

A controversial carbon trading deal in Malaysian Borneo worth an estimated $76.5bn appears to be all but dead after being declared illegal by the state’s top lawyer, unfeasible by scientists, and unsellable by carbon trading experts. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	226 697	9 177 998	100.00%
ETFs	-	-	0.00%
Total	226 697	9 177 998	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 9 177 998 worth of shares was traded on the NSX on Tuesday with about N$ 3 913 441 worth of Anglo-American, N$ 1 373 198 worth of Shoprite Holdings, and N$    24 750 worth of Mobile Telecommunications 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 increased in price at closing.
• Shares belonging to Shoprite Holdings were sold off by market participants.
• On the local NSX listing, Mobile Telecommunications shares were traded resulting into  a decline in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.13	11.23	0.90%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.49	8.25	-2.83%
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	730.39	742.14	1.61%
Barloworld Limited	BWL	143.90	134.26	-6.70%
Oceana Group Limited	OCG	54.90	54.30	-1.09%
Mediclinic International Plc	MEP	70.15	69.95	-0.29%
Truworths	TRW	62.79	61.82	-1.54%
Nedbank Group Limited	NBK	214.32	209.65	-2.18%
Standard Bank Group	SNB	159.96	158.65	-0.82%
Shoprite Holdings	SRH	229.45	226.32	-1.36%
FirstRand Limited	FST	65.90	65.15	-1.14%
Momentum Metropolitan Holdings	MMT	19.55	19.18	-1.89%
Old Mutual Ltd	OMM	13.62	13.25	-2.72%
Sanlam Limited	SLA	66.42	64.56	-2.80%
Santam Limited	SNM	285.00	283.16	-0.65%
Vukile Property Fund Limited	VKN	13.05	12.66	-2.99%
Investec Limited	IVD	87.51	86.79	-0.82%
PSG Konsult Limited	KFS	13.80	13.70	-0.72%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	268.02	268.48	0.17%
New Gold Palladium ETF	NGNPLD	350.01	352.82	0.80%
New Gold Platinum ETF N	NGNPLT	157.86	158.69	0.53%
New Funds S&P NAM Bond	NFNAMA	16.68	16.68	0.00%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.03
EUR/ZAR	17.03
GBP/ZAR	20.44
EUR/GBP	0.83
EUR/USD	1.13
GBP/USD	1.36
AUD/USD	0.72
USD/JPY	115.04
Commodities
Gold	1 898.30
Silver	24.11
Platinum	1 082
Palladium	2 347.52
WTI	91.72
Brent	93.60

Table 5: Exchange Rates and Commodities 

Local News

Should the JSE suspend the listing of Trustco Group Holdings’ on the South African stock exchange. (Namibian Sun)

The Development Bank of Namibia last week inaugurated its expanded office in Walvis Bay to serve towns in the Erongo region as well as some entrepreneurs and enterprises in the Kunene region. (New Era Newspaper)

ENERGY experts have questioned the decision by the National Petroleum Corporation of Namibia (Namcor) to sell half its stake in an oil-drilling licence in the Kavango East region, thereby pushing the Canadian company's stake up to 95%. (The Namibian)

Sub-Sahara News

Eskom, South Africa’s indebted power utility, is considering selling distribution assets as prospects of the government taking over about half of its R392 billion obligations dim, people with knowledge of the matter said. (News24)

Three in four people worldwide want single-use plastics to be banned as soon as possible, according to a poll released on Tuesday, as United Nations members prepare to begin talks on a global treaty to rein in soaring plastic pollution. (CNBC Africa)

South Africa is sending fresh troops and armoured vehicles to Mozambique's northern Cabo Delgado province as part of efforts to fight Islamic State-connected insurgents. (All Africa News)

International News

Asian stocks steadied on Wednesday and demand for safe-havens waned a little as investors regarded Russian troop movements near Ukraine and initial Western sanctions as leaving room to avoid a war, while a rate hike lifted New Zealand's dollar. (Reuters)

Asian stocks ended broadly higher on Wednesday amid hopes that a diplomatic solution can be found to avoid a Russian invasion of Ukraine. (RTT News)

Hong Kong has announced plans to roll out compulsory COVID-19 testing from next month, with each of the densely-populated territory’s 7.4 million residents required to submit to three rounds of tests. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	62 205	4 616 477	100.00%
ETFs	-	-	0.00%
Total	62 205	4 616 477	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 4 616 477 worth of shares was traded on the NSX on Monday, with about N$  597 030 worth of Anglo-American, N$  324 856 worth of Shoprite Holdings, and N$   89 040  worth of Capricorn Group Limited 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 increased in price at closing.
• Shares belonging to Shoprite Holdings were sold off by market participants.
• On the local NSX listing, Capricorn Group Limited shares were traded resulting into  a decline in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.14	11.13	-0.09%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.49	8.49	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	729.00	730.39	0.19%
Barloworld Limited	BWL	145.50	143.90	-1.10%
Oceana Group Limited	OCG	54.50	54.90	0.73%
Mediclinic International Plc	MEP	70.03	70.15	0.17%
Truworths	TRW	62.03	62.79	1.23%
Nedbank Group Limited	NBK	214.75	214.32	-0.20%
Standard Bank Group	SNB	161.25	159.96	-0.80%
Shoprite Holdings	SRH	230.07	229.45	-0.27%
FirstRand Limited	FST	66.41	65.90	-0.77%
Momentum Metropolitan Holdings	MMT	19.74	19.55	-0.96%
Old Mutual Ltd	OMM	13.75	13.62	-0.95%
Sanlam Limited	SLA	66.82	66.42	-0.60%
Santam Limited	SNM	275.01	285.00	3.63%
Vukile Property Fund Limited	VKN	13.10	13.05	-0.38%
Investec Limited	IVD	88.20	87.51	-0.78%
PSG Konsult Limited	KFS	13.75	13.80	0.36%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	267.56	268.02	0.17%
New Gold Palladium ETF	NGNPLD	341.51	350.01	2.49%
New Gold Platinum ETF N	NGNPLT	158.66	157.86	-0.50%
New Funds S&P NAM Bond	NFNAMA	16.70	16.68	-0.12%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.07
EUR/ZAR	17.13
GBP/ZAR	20.53
EUR/GBP	0.83
EUR/USD	1.19
GBP/USD	1.36
AUD/USD	0.72
USD/JPY	114.95
Commodities
Gold	1 911.00
Silver	24.22
Platinum	1 090
Palladium	2 400
WTI	93.20
Brent	94.59

Table 5: Exchange Rates and Commodities 

Local News

A year after the decision has been made to liquidate Air Namibia, public enterprise minister Leon Jooste says Cabinet will one day be vindicated over unpopular decision. (Namibian Sun)

Namibia over the weekend surpassed the 4 000 Covid-19 death mark, showing an indication the pandemic is still claiming lives, even though numbers of fatalities have decreased and regulations have been relaxed. (New Era Newspaper)

The MS Europa 2 passenger vessel docked at the Port of Walvis Bay on Thursday morning with 498 visitors on board, including crew members from across the world. (The Namibian)

Sub-Sahara News

South African Breweries (SAB) is calling on government to adjust the excise tax rate in line with inflation in this week’s budget, saying it may have to look to other African countries for investment if it doesn’t get the relief and certainty it seeks. (News24)

South Africa’s health department said on Monday that it was changing COVID-19 vaccination rules to try to increase uptake, as inoculations have slowed and the country has ample vaccine stocks. (CNBC Africa)

The Minister of Minerals and Mining Gwede Mantashe and oil giant Shell has had no joy from the Makhanda High Court which ruled that the interim interdict that was issued in December, 2021, be upheld. (All Africa News)

International News

The United States Navy announced the launch of a new joint fleet of unmanned drones in the Middle East with allied nations to patrol vast swaths of volatile waters as tensions simmer with Iran. (Reuters)

Asian stocks fell broadly on Tuesday as a cautious undertone prevailed against the backdrop of a hawkish Fed, rising oil prices and Russia-Ukraine tensions (RTT News)

Ethiopia began producing electricity for the first time from its Grand Ethiopian Renaissance Dam (GERD) – a massive hydropower plant on the River Nile that neighbours Sudan and Egypt say will cause severe water shortages downstream (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	25 668	2 001 683	87.77%
ETFs	1 246	279 044	12.23%
Total	26 914	2 280 727	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 2 001 683 worth of shares was traded on the NSX on Friday, with about N$ 615 505 worth of Anglo-American, N$ 254 284 worth of Shoprite Holdings, and N$  39 428 worth of Mobile Telecommunications on the home front. ETFs worth N$ 279 044 were traded on Friday.

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 allotted by market participants at closing of the day.
• On the local NSX listing, Mobile Telecommunications shares were traded resulting into  a decline in share price at closing
• ETF New Gold Issuer Ltd NM and  New Gold Platinum ETF N were both purchased by investor as market performance soar, making them desirable for investors.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.14	11.14	0.00%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.50	8.49	-0.12%
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	721.15	729.00	1.09%
Barloworld Limited	BWL	146.29	145.50	-0.54%
Oceana Group Limited	OCG	54.20	54.50	0.55%
Mediclinic International Plc	MEP	70.03	70.03	0.00%
Truworths	TRW	65.04	62.03	-4.63%
Nedbank Group Limited	NBK	216.20	214.75	-0.67%
Standard Bank Group	SNB	162.50	161.25	-0.77%
Shoprite Holdings	SRH	228.85	230.07	0.53%
FirstRand Limited	FST	66.61	66.41	-0.30%
Momentum Metropolitan Holdings	MMT	20.00	19.74	-1.30%
Old Mutual Ltd	OMM	13.87	13.75	-0.87%
Sanlam Limited	SLA	67.19	66.82	-0.55%
Santam Limited	SNM	269.86	275.01	1.91%
Vukile Property Fund Limited	VKN	12.99	13.10	0.85%
Investec Limited	IVD	89.20	88.20	-1.12%
PSG Konsult Limited	KFS	13.98	13.75	-1.65%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	265.03	267.56	0.95%
New Gold Palladium ETF	NGNPLD	343.70	341.51	-0.64%
New Gold Platinum ETF N	NGNPLT	156.69	158.66	1.26%
New Funds S&P NAM Bond	NFNAMA	16.74	16.70	-0.24%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.07
EUR/ZAR	17.13
GBP/ZAR	20.53
EUR/GBP	0.83
EUR/USD	1.19
GBP/USD	1.36
AUD/USD	0.72
USD/JPY	114.95
Commodities
Gold	1 893.70
Silver	23.73
Platinum	1 072.50
Palladium	2 310.00
WTI	89.41
Brent	90.64

Table 5: Exchange Rates and Commodities 

Local News

A year after the decision has been made to liquidate Air Namibia, public enterprise minister Leon Jooste says Cabinet will one day be vindicated over unpopular decision. (Namibian Sun)

The global oil exploration industry is pulsating with unconfirmed news of a second oil discovery off the coast of Namibia. (New Era Newspaper)

The MS Europa 2 passenger vessel docked at the Port of Walvis Bay on Thursday morning with 498 visitors on board, including crew members from across the world. (The Namibian)

Sub-Sahara News

The SA economy, which has been stagnant for a decade, will have even more limited options for growth in 2022 as the global environment becomes less favourable, says the IMF. (News24)

Europe and Africa will work together to resolve by spring a rich-versus-poor nation dispute over how to ensure fair distribution of COVID-19 vaccines and treatments, the head of the European Commission said on Friday. (CNBC Africa)

The Minister of Minerals and Mining Gwede Mantashe and oil giant Shell has had no joy from the Makhanda High Court which ruled that the interim interdict that was issued in December, 2021, be upheld. (All Africa News)

International News

U.S. President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine, the French leader said on Monday, offering a possible path out of one of the most dangerous European crises in decades. (Reuters)

European stocks were sharply lower on Monday as rising geopolitical tensions between Russia and Ukraine sparked nervousness at the start of the week. (RTT News)

Ethiopia began producing electricity for the first time from its Grand Ethiopian Renaissance Dam (GERD) – a massive hydropower plant on the River Nile that neighbours Sudan and Egypt say will cause severe water shortages downstream (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	292 112	16 296 081	100.00%
ETFs	-	-	0.00%
Total	292 112	16 296 081	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 16 296 081 worth of shares was traded on the NSX on Thursday, with about N$ 1 180 645 worth of Anglo-American, N$ 10 629 876 worth of Oceana Group Limited, and N$ 272 017 worth of Capricorn Group Limited 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 in price at closing.
• Shares belonging to Oceana Group Limited are continuously being dumped as ENS Africa’s pending investigations begins to strike fear in investor’s confidence
• On the local NSX listing, Capricorn Group Limited shares were traded resulting into  a decline in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.15	11.14	-0.09%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.50	8.50	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	730.10	721.15	-1.23%
Barloworld Limited	BWL	145.14	146.29	0.79%
Oceana Group Limited	OCG	54.51	54.20	-0.57%
Mediclinic International Plc	MEP	70.75	70.03	-1.02%
Truworths	TRW	59.36	65.04	9.57%
Nedbank Group Limited	NBK	217.40	216.20	-0.55%
Standard Bank Group	SNB	164.89	162.50	-1.45%
Shoprite Holdings	SRH	228.35	228.85	0.22%
FirstRand Limited	FST	67.54	66.61	-1.38%
Momentum Metropolitan Holdings	MMT	20.16	20.00	-0.79%
Old Mutual Ltd	OMM	14.10	13.87	-1.63%
Sanlam Limited	SLA	67.02	67.19	0.25%
Santam Limited	SNM	269.02	269.86	0.31%
Vukile Property Fund Limited	VKN	13.07	12.99	-0.61%
Investec Limited	IVD	91.55	89.20	-2.57%
PSG Konsult Limited	KFS	14.09	13.98	-0.78%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	262.93	265.03	0.80%
New Gold Palladium ETF	NGNPLD	333.85	343.70	2.95%
New Gold Platinum ETF N	NGNPLT	153.13	156.69	2.32%
New Funds S&P NAM Bond	NFNAMA	16.70	16.74	0.24%

Table 4: ETFs

Exchange Rates
USD/ZAR	14.97
EUR/ZAR	17.02
GBP/ZAR	20.38
EUR/GBP	0.83
EUR/USD	1.19
GBP/USD	1.35
AUD/USD	0.72
USD/JPY	115.19
Commodities
Gold	1 894.60
Silver	23.93
Platinum	1 097.90
Palladium	2 346.51
WTI	91.30
Brent	92.69

Table 5: Exchange Rates and Commodities 

Local News

The increase in the repo rate by the Bank of Namibia (BoN) from its historic low level of 3.75% to 4.00% will lead to a higher borrowing rate. (Namibian Sun)

All SACU member states simultaneously implemented the 2022 version of the Harmonised System (HS) Nomenclature on 1 January 2022, in the context of the SACU Common External Tariff (CET), which has replaced the HS 2017 version. (New Era Newspaper)

THE Ministry of Sport, Youth and National Service says it needs close to N$100 million to refurbish Independence Stadium in Windhoek. (The Namibian)

Sub-Sahara News

Having turned a profit for the third year in a row, the once-troubled South Deep gold mine is on track to becoming "bulletproof" at any gold price, Gold Fields has said. (News24)

The EU will welcome more than 40 African leaders to Brussels on Thursday in an effort to reassert its influence on a continent where China and Russia have made hefty investment inroads, and where many felt let down by Europe’s COVID-19 vaccines rollout. (CNBC Africa)

As of February 17, 2022, confirmed cases of Covid-19 from 55 African countries reached 11 119 737 while over 220 617 343 vaccinations have been administered across the continent. (All Africa News)

International News

Shelling in Ukraine on Thursday renewed Western fears of an imminent Russian invasion as U.S. President Joe Biden said Moscow is preparing a pretext to justify a possible attack and the Kremlin expelled an American diplomat. (Reuters)

European stocks were sharply lower on Friday amid bets for more aggressive interest rate hikes by the Federal Reserve. (RTT News)

The European Union has welcomed more than 40 African leaders to Brussels in an effort to reassert its influence on a continent where China and Russia have made hefty investment inroads, and where many felt let down by Europe’s COVID-19 vaccines rollout. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	426 192	49 523 839	100.00%
ETFs	-	-	0.00%
Total	426 192	49 523 839	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 49 523 839 worth of shares was traded on the NSX on Wednesday, with about N$ 43 430 220 worth of Barloworld, N$ 918 727 worth of Oceana Group Limited, and N$  31 588 worth of Capricorn Group Limited on the home front. No ETFs were traded on Wednesday.

HEI Equity Research Commentary

From the trading activity that took place:

• Barloworld share price increased in price at closing.
• Shares belonging to Oceana Group Limited were dumped as ENS Africa’s pending investigations may uncover more “tentacles” in the company’s financial statements that are still bound to be released.
• On the local NSX listing, Capricorn Group Limited shares were trading without changes in share price at closing.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.15	11.15	0.00%
First Rand Namibia	FNB	29.50	29.50	0.00%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.50	8.50	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	719.48	730.10	1.48%
Barloworld Limited	BWL	143.10	145.14	1.43%
Oceana Group Limited	OCG	55.51	54.51	-1.80%
Mediclinic International Plc	MEP	69.62	70.75	1.62%
Truworths	TRW	58.33	59.36	1.77%
Nedbank Group Limited	NBK	213.80	217.40	1.68%
Standard Bank Group	SNB	161.62	164.89	2.02%
Shoprite Holdings	SRH	229.53	228.35	-0.51%
FirstRand Limited	FST	66.55	67.54	1.49%
Momentum Metropolitan Holdings	MMT	19.65	20.16	2.60%
Old Mutual Ltd	OMM	13.81	14.10	2.10%
Sanlam Limited	SLA	66.00	67.02	1.55%
Santam Limited	SNM	267.85	269.02	0.44%
Vukile Property Fund Limited	VKN	12.73	13.07	2.67%
Investec Limited	IVD	90.40	91.55	1.27%
PSG Konsult Limited	KFS	14.00	14.09	0.64%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	263.37	262.93	-0.17%
New Gold Palladium ETF	NGNPLD	327.19	333.85	2.04%
New Gold Platinum ETF N	NGNPLT	148.66	153.13	3.01%
New Funds S&P NAM Bond	NFNAMA	16.57	16.70	0.78%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.00
EUR/ZAR	17.03
GBP/ZAR	20.37
EUR/GBP	0.83
EUR/USD	1.19
GBP/USD	1.35
AUD/USD	0.71
USD/JPY	115.24
Commodities
Gold	1 875.75
Silver	23.49
Platinum	1 064.25
Palladium	2 309.52
WTI	92.08
Brent	93.26

Table 5: Exchange Rates and Commodities 

Local News

The Namibian Revolutionary Transport Union (Naretu) has given government and the Namibian Employers Federation (NEF) until 26 February implore trucking companies to stop victimising truckers who have joined the union. (Namibian Sun)

Micro, Small and Medium Enterprises (MSMEs) play an integral part in stimulating socioeconomic development in emerging markets, and Namibia is no exception. (New Era Newspaper)

Bank of Namibia (BoN) spokesperson Kazembire Zemburuka says the heavy losses by commercial banks are due to 32 000 fraudulent cases recorded in the banking sector in the better part of last year. (The Namibian)

Sub-Sahara News

President Cyril Ramaphosa has defended his decision to appoint special advisors in the Presidency on matters related to the economy, saying he was looking to centralise government's policy approach to different areas. (News24)

South Africa's headline inflation slowed to 5.7 percent in January after a significant acceleration in December of 5.9 percent - the highest it has been in 5 years. (CNBC Africa)

Angola has recovered assets worth more than U.S.$11 billion that had been looted from state coffers and stashed in countries around the world, Justice Minister Francisco Queiroz has said. (All Africa News)

International News

Southeast Asian nations held talks in Cambodia on Thursday, amid divisions in the block over how to restore stability in Myanmar after a military coup a year ago and with the junta's representative barred from attending the meeting. (Reuters)

European stocks pared early gains on Thursday, as investors digested mixed earnings updates and awaited the release of U.S. consumer price data later in the day for further signs of accelerating inflation. (RTT News)

The United States and NATO have said Russia is still building up troops around Ukraine despite Moscow’s insistence it was pulling back, questioning President Vladimir Putin’s stated desire to negotiate a solution to the crisis. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	450 111	52 302 143	98.42%
ETFs	3 211	841 282	1.58%
Total	453 322	53 143 425	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 52 302 143 worth of shares was traded on the NSX on Tuesday, with about N$ 1 776 120 worth of Anglo-American, N$ 423 989 worth of Investec Limited, and N$ 78 608 worth of Capricorn Group Limited on the home front. ETFs worth N$ 841 282 were traded on Tuesday.

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American share price increased in price at closing.
• Shares belonging to Investec Limited were traded resulting to the share price to drop.
• On the local NSX listing, Capricorn Group Limited shares were dumped by market participants resulting into a reduction in price.
• New Gold Issuer Ltd NM ETF was bought yesterday commodity prices starts to increase in value.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	48.00	48.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.00	11.15	1.36%
First Rand Namibia	FNB	29.51	29.50	-0.03%
Standard Bank Namibia	SNO	5.98	5.98	0.00%
Oryx Limited	ORY	8.56	8.56	0.00%
Letshego	LHN	1.53	1.53	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	12.77	12.77	0.00%
Mobile Telecommunication Company	MOC	8.50	8.50	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	730.02	719.48	-1.44%
Barloworld Limited	BWL	144.75	143.10	-1.14%
Oceana Group Limited	OCG	58.18	55.51	-4.59%
Mediclinic International Plc	MEP	68.47	69.62	1.68%
Truworths	TRW	57.52	58.33	1.41%
Nedbank Group Limited	NBK	206.60	213.80	3.48%
Standard Bank Group	SNB	154.58	161.62	4.55%
Shoprite Holdings	SRH	222.35	229.53	3.23%
FirstRand Limited	FST	63.78	66.55	4.34%
Momentum Metropolitan Holdings	MMT	19.88	19.65	-1.16%
Old Mutual Ltd	OMM	13.62	13.81	1.40%
Sanlam Limited	SLA	65.11	66.00	1.37%
Santam Limited	SNM	269.15	267.85	-0.48%
Vukile Property Fund Limited	VKN	12.40	12.73	2.66%
Investec Limited	IVD	90.80	90.40	-0.44%
PSG Konsult Limited	KFS	14.09	14.00	-0.64%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	263.49	263.37	-0.05%
New Gold Palladium ETF	NGNPLD	340.65	327.19	-3.95%
New Gold Platinum ETF N	NGNPLT	151.62	148.66	-1.95%
New Funds S&P NAM Bond	NFNAMA	16.55	16.57	0.12%

Table 4: ETFs

Exchange Rates
USD/ZAR	15.07
EUR/ZAR	17.12
GBP/ZAR	20.43
EUR/GBP	0.83
EUR/USD	1.13
GBP/USD	1.35
AUD/USD	0.71
USD/JPY	115.64
Commodities
Gold	1 856.65
Silver	23.44
Platinum	1 026.95
Palladium	2 279.02
WTI	92.37
Brent	93.49

Table 5: Exchange Rates and Commodities 

Local News

NovaNam has further embedded its sustainability strategy by investing in two photovoltaic solar projects. (Namibian Sun)

As plans by the government draw closer to dissolve the Namibia Students Financial Assistance Fund, top executives are tendering their resignations. (New Era Newspaper)

Namibia has called for peaceful dialogue between Russia and Ukraine amid growing tensions and warmongering. (The Namibian)

Sub-Sahara News

Mineral Resources and Energy Minister Gwede Mantashe has published a draft electricity pricing policy, which will revolutionise how customers are charged for electricity. (News24)

Banks and investors have channeled massive sums of money to support the coal industry in recent years, according to new research, propping up the world’s dirtiest fossil fuel at a time when humanity is facing a climate emergency. (CNBC Africa)

Members of Parliament in Ethiopia voted to end the country's state of emergency, which was declared in November and set to last for six months. (All Africa News)

International News

China's factory-gate inflation eased to its slowest pace in six months and consumer price growth also softened in January amid weakening property sector demand, new coronavirus curbs and government efforts to rein in surging materials costs. (Reuters)

Asian stocks gained ground on Wednesday after a strong session on Wall Street overnight. (RTT News)

President Emmanuel Macron is expected to announce France will withdraw its forces from Mali, amid a breakdown in relations with the country’s military leaders. (Aljazeera News)