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NSX DAILY UPDATES (13 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	135,551.00	6,678,480.65	100.00%
ETFs	-	-	0.00%
Total	135,551.00	6,678,480.65	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 6,678,480.65 worth of shares was traded on the NSX on Thursday with about N$ 394,248 worth of shares belonging to Anglo-American plc and N$ 192,730 worth of shares belonging to FirstRand Namibia Ltd. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American continued to be subscribed by market participants on the backdrop of boosted investor confidence in the mining sector, resulting in an increase of 1.8% in the company's stock value at closing
FirstRand Namibia’s shares were traded by market participants, resulting in no change in share price at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.30	2.73%
Letshego	LHN	3.85	3.85	0.00%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.50	7.50	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	550.00	559.80	1.78%
B2Gold Corporation	B2G	67.02	68.72	2.54%
Oceana Group Limited	OCG	70.96	69.25	-2.41%
Truworths	TRW	59.60	59.98	0.64%
Nedbank Group Limited	NBK	224.46	224.61	0.07%
Standard Bank Group	SNB	179.01	183.63	2.58%
Shoprite Holdings	SRH	239.11	238.60	-0.21%
Firstrand Limited	FST	68.97	69.84	1.26%
Momentum Metropolitan Holdings	MMT	18.32	18.49	0.93%
Old Mutual Ltd	OMM	12.26	12.49	1.88%
Sanlam Limited	SLA	61.19	62.90	2.79%
Santam Limited	SNM	283.10	290.00	2.44%
Vukile Property Fund Limited	VKN	12.12	12.07	-0.41%
Investec Limited	IVD	106.58	107.23	0.61%
PSG Konsult Limited	KFS	13.53	13.51	-0.15%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	331.70	327.30	-1.33%
New Gold Palladium ETF	NGNPLD	226.07	223.44	-1.16%
New Gold Platinum ETF N	NGNPLT	167.50	168.05	0.33%
Satrix S&P Namibia Bond ETF)	SXNNAM	18.93	19.07	0.74%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	17.96
EUR/NAD	20.15
GBP/NAD	23.54
EUR/GBP	0.85
EUR/USD	1.12
GBP/USD	1.31
AUD/USD	0.68
USD/JPY	138.08
Commodities @ 07:00
Gold	1,960.85
Silver	24.94
Platinum	976.10
Palladium	1,278.53
WTI	76.69
Brent	81.09

Table 5: Exchange Rates and Commodities

Local News

Stock exchange urged to stop reconafrica listing new shares (Sun Newspaper)

Amid persistent talks regarding the potential downfall of Meatco and the growing demand for restructuring, CEO Mwilima Mushokabanji has expressed confidence in the company’s progress and is optimistic about its resurgence. (New Era Newspaper)

Health and social services deputy minister Ester Muinjangue on Tuesday confirmed cases of chronic lead exposure at Rosh Pinah in the //Kharas region. (The Namibian Newspaper)

Sub-Sahara News

Original equipment manufacturers have intimate knowledge of many Eskom plants, but in some instances have been sidelined for alternative, often cheaper, service providers. (News24)

A United Nations agency urged global finance ministers to give poor countries debt repayment breaks, estimating the COVID-19 pandemic and subsequent surge in inflation and borrowing costs had pushed an extra 165 million people into poverty. (CNBC Africa)

Over 1,000 participants from the U.S. and across the African continent, including government officials, private sector executives, investors, and multilateral stakeholders, are meeting in Botswana's capital city of Gaborone at the U.S.-Africa Business Summit to explore investment opportunities and strengthen business relationships between Africa and the U.S (AllAfrica News)

International News

Thursday's Goldilocks blend of cooling U.S. inflation and a still toasty jobs market continues to cast a glow across markets, with stocks in Asia extending a rally while lower global yields spur a further unwinding of yen carry trades. (Reuters News)

European stocks fell in cautious trade on Friday amid concerns that higher interest rates may weigh on global economic growth. Disappointing economic data from Germany and U.K. also added to the gloomy mood. (RTT News)

The dark evening air was pierced by the sound of an M16 gunshot. Then another. And another. In total, 53 bullet casings were found by police outside the bamboo and thatched wood house of Emelda Fausto and her husband, Roly, where they were killed on June 14 along with their children Ben, 14, and Ravin, 11. (Aljazeera News)

Inflation report, June 2023

Executive Summary

In June 2023, the annual inflation rate slowed to 5.3% from the 6.0% recorded in June 2022 and from the 6.3% recorded the prior month. (Figure 1)
The biggest contributors to inflation were: food and non-alcoholic beverages (11.7 %), recreation and culture (10.1%), and miscellaneous goods and services (8.1 %). (Figure 2)
Namibia recorded an inflation rate of 0.1% on a monthly basis in June 2023 compared to 0.2% in May 2023. The monthly decline was mainly driven by transport inflation which recorded a decline of 0.4%

Analysis

The food and non-alcoholic beverages component which accounts for 16.5% of the NCPI basket, recorded an annual inflation rate of 11.7% for June 2023, this was less than the 12.5% recorded in May 2023 but more than the 7.0% recorded for June 2022. The increase in the annual inflation rate for this category was mainly attributed to an increase in the prices of vegetables (18.5%), bread and cereals (17.3%), and fruits (17.2%). This was the 6^th month of Food and non-alcoholic beverages being the largest contributor to inflation.
The transport category which accounts for 14.3% of the consumer basket registered a decline in the annual inflation rate of 0.1% in June 2023 compared to 18.6% recorded in June 2022. The decline in the annual inflation rate for this component was reflected mainly in the subcomponent of operation of personal transport equipment which declined by 2.5% compared to 32.0% obtained in June 2022 attributed to the -7% fall in petrol and diesel prices. On a monthly basis, the category registered a decline of 0.4% in the general level of prices in June 2023 compared to a decline of 0.6% registered in May 2023.
Recreation and culture recorded an increase in the annual inflation rate of 10.1% from 4.9%. This was influenced by an increase in the demand for package holidays as travel activities increases due to June being a school holiday month
The annual inflation rate for miscellaneous goods and services increased from 0.8% to 8.1%. This was driven by an increase in prices of insurance services

Figure 1: Annual Inflation Index & Rate Namibia, (June 2022 – June 2023)

Source: NSA & HEI Research

Figure 2: Sub-Categorical analysis (%) change Year on Year(y-o-y) and Month on Month(m-o-m)

Source: NSA & HEI Research

Outlook

Going forward we expect inflation to continue easing mainly due to the base effect and the anticipated decline in prices of major components such as food and transport. This is due to easing cost-push factors and a decline in global oil prices.

Posted on July 13, 2023
Inflation, Reports
2 Comments on Inflation report, June 2023

NSX DAILY UPDATES (12 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	429,619.00	10,034,623.10	100.00%
ETFs	-	-	0.00%
Total	429,619.00	10,034,623.10	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 10,034,623.10 worth of shares was traded on the NSX on Wednesday with about N$ 817,147 worth of shares belonging to Anglo-American plc and N$ 158,776 worth of shares belonging to Shoprite Holdings. No ETFs were traded on Wednesday.

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American was subscribed by market participants as cooling U.S inflation data boosted investor confidence in the mining sector, resulting in an increase of 3.1% in the company's stock value at closing
Shoprite Holdings’ shares were traded by market participants after the Competition Tribunal ruling regarding its exclusive lease agreements, resulting in a slight increase in share price by 2.5% at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.85	3.85	0.00%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.50	7.50	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	533.52	550.00	3.09%
B2Gold Corporation	B2G	66.95	67.02	0.10%
Oceana Group Limited	OCG	69.11	70.96	2.68%
Truworths	TRW	56.48	59.60	5.52%
Nedbank Group Limited	NBK	220.73	224.46	1.69%
Standard Bank Group	SNB	175.51	179.01	1.99%
Shoprite Holdings	SRH	233.24	239.11	2.52%
Firstrand Limited	FST	67.83	68.97	1.68%
Momentum Metropolitan Holdings	MMT	18.11	18.32	1.16%
Old Mutual Ltd	OMM	12.06	12.26	1.66%
Sanlam Limited	SLA	60.22	61.19	1.61%
Santam Limited	SNM	283.08	283.10	0.01%
Vukile Property Fund Limited	VKN	12.04	12.12	0.66%
Investec Limited	IVD	104.42	106.58	2.07%
PSG Konsult Limited	KFS	13.49	13.53	0.30%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	337.83	331.70	-1.81%
New Gold Palladium ETF	NGNPLD	222.13	226.07	1.77%
New Gold Platinum ETF N	NGNPLT	167.81	167.50	-0.18%
Satrix S&P Namibia Bond ETF)	SXNNAM	18.91	18.93	0.11%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	18.16
EUR/NAD	20.23
GBP/NAD	23.59
EUR/GBP	0.85
EUR/USD	1.11
GBP/USD	1.29
AUD/USD	0.68
USD/JPY	138.77
Commodities @ 07:00
Gold	1,961.45
Silver	24.37
Platinum	962.80
Palladium	1,294.28
WTI	75.92
Brent	80.33

Table 5: Exchange Rates and Commodities

Local News

Rössing Uranium has sponsored N$50 000 to a team of 20 small-scale miners, under the Emerging Mining Association of Namibia, to attend an international mining conference in Angola (Sun Newspaper)

Meatco employees yesterday took to the streets to voice their grievances and demand significant improvements to their working conditions and pay (New Era Newspaper)

Mobile Telecommunications Company (MTC) yesterday said it would not share its infrastructure with other industry players. (The Namibian Newspaper)

Sub-Sahara News

The Competition Tribunal on Wednesday agreed to give Shoprite as much time as its rival, Pick n Pay, to phase out controversial exclusive lease agreements (News24)

Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the COVID-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said. (CNBC Africa)

At least seven people were killed in Wednesday's protests in Kenya, as demonstrators took to the streets to protest the high cost of living (AllAfrica News)

International News

President Joe Biden accused Russian President Vladimir Putin of having a "craven lust for land and power" at the end of a NATO summit on Wednesday where Ukraine won new security assurances from the U.S. and its allies for its defense against Moscow. (Reuters News)

European stocks tumbled on Thursday, as heightened concerns about China's economic recovery and expectations for a more hawkish Federal Reserve sapped investors' appetite for risk. (RTT News)

Pita Limjaroenrat’s progressive party may have won the most number of seats in Thailand’s general election, but it is far from certain that the 42-year-old businessman will succeed in becoming the Southeast Asian nation’s next prime minister. (Aljazeera News)

NSX DAILY UPDATES (11 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	1,639,555.00	48,565,113.05	97.92%
ETFs	3,871.00	1,032,509.38	2.08%
Total	1,643,426.00	49,597,622.43	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 48,565,113.05 worth of shares was traded on the NSX on Tuesday with about N$5,910,036 worth of shares belonging to Anglo-American plc and N$15,170 worth of shares belonging to FirstRand Namibia Ltd on the domestic market. Additionally, ETFs worth N$ 1,032,509.38 were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American was subscribed by market participants, resulting in an increase of 0.5% in the company's stock value at closing
FirstRand Namibia’s shares were traded by market participants, resulting in no change in share price at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.85	3.85	0.00%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.50	7.50	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	531.00	533.52	0.47%
B2Gold Corporation	B2G	65.81	66.95	1.73%
Oceana Group Limited	OCG	69.11	69.11	0.00%
Truworths	TRW	56.48	56.48	0.00%
Nedbank Group Limited	NBK	221.77	220.73	-0.47%
Standard Bank Group	SNB	175.68	175.51	-0.10%
Shoprite Holdings	SRH	220.87	233.24	5.60%
Firstrand Limited	FST	67.47	67.83	0.53%
Momentum Metropolitan Holdings	MMT	18.09	18.11	0.11%
Old Mutual Ltd	OMM	12.00	12.06	0.50%
Sanlam Limited	SLA	59.90	60.22	0.53%
Santam Limited	SNM	283.46	283.08	-0.13%
Vukile Property Fund Limited	VKN	11.98	12.04	0.50%
Investec Limited	IVD	105.10	104.42	-0.65%
PSG Konsult Limited	KFS	13.20	13.49	2.20%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	337.83	337.83	0.00%
New Gold Palladium ETF	NGNPLD	222.13	222.13	0.00%
New Gold Platinum ETF N	NGNPLT	167.81	167.81	0.00%
Satrix S&P Namibia Bond ETF)	SXNNAM	18.91	18.91	0.00%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	18.46
EUR/NAD	20.37
GBP/NAD	23.95
EUR/GBP	0.85
EUR/USD	1.10
GBP/USD	1.29
AUD/USD	0.67
USD/JPY	139.47
Commodities @ 07:00
Gold	1,943.40
Silver	23.43
Platinum	938.40
Palladium	1,249.53
WTI	74.75
Brent	79.31

Table 5: Exchange Rates and Commodities

Local News

The public enterprises minister has had his say on state entities bankrolling foreign rips for their line ministers. (Sun Newspaper)

The property management company and Ohlthaver & List (O&L) Group subsidiary, Broll Namibia, celebrated 20 years in the business in June 2023. With a property portfolio valued at over N$2.6 billion, the company’s service offerings include property management, facilities management, occupier services as well as retail leasing and consultancy, and development management services. (New Era Newspaper)

The Ministry of Agriculture, Water, and Land Reform has been blasted for returning N$98 million meant for the Department of land reform to the treasury. (The Namibian Newspaper)

Sub-Sahara News

Less than a week after Electricity Minister Kgosientsho Ramokgopa said he was confident that Eskom had enough generating capacity to withstand the cold weather, the power utility announced the implementation of Stage 6 load shedding. (News24)

Most emerging market stocks gained on Tuesday as risk appetite improved amid bets that market-punishing U.S. rate hikes were approaching an end, while equities in China rose on Beijing’s support for the property sector. (CNBC Africa)

The Senate on Tuesday constituted an ad hoc committee to investigate the fuel subsidy regime of the Nigerian National Petroleum Company Limited (NNPCL). (AllAfrica News)

International News

Ukrainian President Volodymyr Zelenskiy meets NATO leaders on Wednesday after they declared his country's future lay inside the alliance but rebuffed his call for a timeline to membership. (Reuters News)

Asian stocks ended mostly lower on Wednesday after new data showed China's economy continued to struggle in June. Investors also looked ahead to the release of the Federal Reserve's latest monetary policy meeting minutes as well as the U.S. jobs report (RTT News)

Israel’s parliament, or Knesset, has given its first approval to a bill that would Babarandage don Sarath Appuham, a 59-year-old fisherman, has worked at Negombo Lagoon since he was a teenager. Palpable differences in tide patterns and fish catches from climate change have complicated his work. (Aljazeera News)

Building Plans Approved Report, Windhoek: June 2023

Executive summary

The City of Windhoek approved a total of 202 building plans valued at N$ 100,756,635 in June 2023. See figure 1
Out of 202 building plans approved, 142 were additions plans, 42 were house plans, 11 were wall plans, 6 were commercial plans, and 1 pool plan
The number of approved building plans increased by 14% when compared to those approved in May 2023. See Figure 2
During the month under review, a total number of 49 buildings were completed for Windhoek at the value of N$ 22,365,684
Total buildings completed increased by 32% when compared to the buildings completed in May 2023

Analysis

On an annual basis, the number of building plans approved for Windhoek declined by 19%. This could have stemmed from the drop in major construction projects in the economy
For the month under review, the highest number of building plans approved were from Windhoek suburbs with a total of 37 plans (22 addition plans, 12 house plans, 1 commercial plan, 1 wall plan, and 1 pool plan) valued at N$ 25,034,729
Khomasdal had the second-highest number of building plans approved with a total of 27 plans valued at N$ 12,212,500
Klein Windhoek had the third-highest number of building plans approved with a total of 14 plans valued at N$ 10,406,000

Outlook

We anticipate construction activities to improve from its declining trajectory in the short to medium term. The improvement is anticipated to result from the recovery in SACU revenue and the renewed emphasis on prioritizing capital and infrastructure spending for the financial year 2023/24.

Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (June 2022 – June 2023)

Source: CoW & HEI RESEARCH

Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (June 2022 - June 2023)

Source: CoW & HEI RESEARCH

NSX DAILY UPDATES (10 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	79,162.00	3,167,064.62	100.00%
ETFs	-	-	0.00%
Total	79,162.00	3,167,064.62	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 3,167,064.62 worth of shares was traded on the NSX on Monday with about N$ 2,190,982 worth of shares belonging to Anglo-American plc and N$ 217,950 worth of shares belonging to Mobile Telecommunications Limited on the domestic market. Additionally, No ETFs were traded on Monday.

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American was sold off by market participants, as China’s economic stimulus concerns affecting resource-based companies, resulting in a decline of 0.7% in the company's stock value at closing
Mobile Telecommunications Limited shares were traded by market participants, resulting in an increase of the share price by 5.8% at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.85	3.85	0.00%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.09	7.50	5.78%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	534.50	531.00	-0.65%
B2Gold Corporation	B2G	65.79	65.81	0.03%
Oceana Group Limited	OCG	71.17	69.11	-2.89%
Truworths	TRW	56.89	56.48	-0.72%
Nedbank Group Limited	NBK	224.23	221.77	-1.10%
Standard Bank Group	SNB	178.00	175.68	-1.30%
Shoprite Holdings	SRH	219.99	220.87	0.40%
Firstrand Limited	FST	68.32	67.47	-1.24%
Momentum Metropolitan Holdings	MMT	18.11	18.09	-0.11%
Old Mutual Ltd	OMM	12.06	12.00	-0.50%
Sanlam Limited	SLA	59.86	59.90	0.07%
Santam Limited	SNM	288.11	283.46	-1.61%
Vukile Property Fund Limited	VKN	12.17	11.98	-1.56%
Investec Limited	IVD	105.58	105.10	-0.45%
PSG Konsult Limited	KFS	13.51	13.20	-2.29%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	339.96	337.83	-0.63%
New Gold Palladium ETF	NGNPLD	228.25	222.13	-2.68%
New Gold Platinum ETF N	NGNPLT	167.01	167.81	0.48%
Satrix S&P Namibia Bond ETF)	SXNNAM	18.97	18.91	-0.32%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	18.77
EUR/NAD	20.67
GBP/NAD	24.15
EUR/GBP	0.85
EUR/USD	1.10
GBP/USD	1.28
AUD/USD	0.66
USD/JPY	140.88
Commodities @ 07:00
Gold	1,932.55
Silver	23.39
Platinum	939.40
Palladium	1,237.00
WTI	73.39
Brent	78.05

Table 5: Exchange Rates and Commodities

Local News

The local Unesco office, which is situated in the higher education ministry, wants the minister to repay money paid to her earlier this year. (Sun Newspaper)

Bank Windhoek’s executive officer of retail banking services and specialists finance, James Chapman, said that the bank values its staff members and has consistently made a concerted effort to invest in a future-fit leadership and talent pool. (New Era Newspaper)

Andrada Mining (formerly Afritin), a United Kingdom-based company, has produced a record 216 tonnes of tin-in-concentrate at its Uis operation in Namibia in the first quarter of 2023. (The Namibian Newspaper)

Sub-Sahara News

The North Gauteng High Court in Pretoria has granted the government's application to place the SA Post Office in business rescue, putting a halt to ongoing liquidation proceedings and paving the way for an R2.4 billion taxpayer bailout. (News24)

West African regional bloc ECOWAS has chosen Nigerian President Bola Tinubu as its new chairman at a time of deepening insecurity, including military coups and terrorism, in the region. (CNBC Africa)

The International Trade Centre (ITC), in collaboration with the Farmers Union Network of Liberia (FUNL), started a week-long training program on the importance of cooperatives for coffee producers. The goal is to assist them in the process of creating coffee cooperatives in Liberia to boost revenues. (AllAfrica News)

International News

NATO leaders gather for a summit in Vilnius on Tuesday seeking to overcome divisions on Ukraine's membership bid after a deal to lift Turkey's block on Sweden joining the military alliance. (Reuters News)

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders seem cautious and reluctant to make significant moves amid uncertainty about the pace of economic growth amid rising interest rates (RTT News)

Israel’s parliament, or Knesset, has given its first approval to a bill that would limit the oversight powers of the country’s Supreme Court, furthering a controversial judicial overhaul in the country. (Aljazeera News)

NSX DAILY UPDATES (07 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	173,566.00	3,826,890.41	100.00%
ETFs	-	-	0.00%
Total	173,566.00	3,826,890.41	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 3,826,890.41worth of shares was traded on the NSX on Friday with about N$ 129,379 worth of shares belonging to Truworths and N$ 4,947 worth of shares belonging to Letshego Holdings Ltd on the domestic market. Additionally, No ETFs were traded on Friday.

HEI Market Commentary

From the trading activity that took place:

Share belonging to Truworths was subscribed by market participants, resulting in an increase of 2.1% in the company's stock value at closing
Letshego Holdings’ shares were traded by market participants with no change in share price at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.85	3.85	0.00%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.09	7.09	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	522.00	534.50	2.39%
B2Gold Corporation	B2G	66.32	65.79	-0.80%
Oceana Group Limited	OCG	71.26	71.17	-0.13%
Truworths	TRW	55.73	56.89	2.08%
Nedbank Group Limited	NBK	221.78	224.23	1.10%
Standard Bank Group	SNB	175.93	178.00	1.18%
Shoprite Holdings	SRH	221.11	219.99	-0.51%
Firstrand Limited	FST	67.77	68.32	0.81%
Momentum Metropolitan Holdings	MMT	17.76	18.11	1.97%
Old Mutual Ltd	OMM	11.95	12.06	0.92%
Sanlam Limited	SLA	59.12	59.86	1.25%
Santam Limited	SNM	287.99	288.11	0.04%
Vukile Property Fund Limited	VKN	12.10	12.17	0.58%
Investec Limited	IVD	103.38	105.58	2.13%
PSG Konsult Limited	KFS	13.41	13.51	0.75%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	338.68	342.00	0.98%
New Gold Palladium ETF	NGNPLD	226.96	230.43	1.53%
New Gold Platinum ETF N	NGNPLT	164.98	167.86	1.75%
Satrix S&P Namibia Bond ETF)	SXNNAM	19.02	19.15	0.68%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	18.86
EUR/NAD	20.68
GBP/NAD	24.20
EUR/GBP	0.85
EUR/USD	1.09
GBP/USD	1.28
AUD/USD	0.66
USD/JPY	142.57
Commodities @ 07:00
Gold	1,929.70
Silver	23.25
Platinum	917.80
Palladium	1,240.53
WTI	73.61
Brent	78.27

Table 5: Exchange Rates and Commodities

Local News

The Namibian Police will kick off a two-day campaign against drugs in Otjiwarongo in the Otjozondjupa Region this morning. (Sun Newspaper)

Namibia has not been spared from the rapidly rising inflation and interest rates experienced across the globe over the past year and a half. (New Era Newspaper)

Namibia’s trade activity increased in value by 18,7% year-on-year (y/y) in May, driven by an increase in exports, led by uranium, which rose 45,3% y/y and imports, topped by petroleum oils, rising 4,0% y/y. (The Namibian Newspaper)

Sub-Sahara News

SA, which has experienced crippling electricity outages in recent months, will "survive" this winter season thanks to a huge improvement in generation, a cabinet minister said on Saturday. (News24)

Emerging market stocks hit a one-month low on Friday as bets of a higher U.S. rate regime lasting for longer stifled risk appetite, while Hungary’s forint dwindled ahead of an S&P debt rating review and on expectations of continued rate cuts (CNBC Africa)

Seychelles has allegedly imposed a ban on Nigerian passport holders, applying for short-term visas or holiday purposes. (AllAfrica News)

International News

Zelenskiy said an invitation to join NATO would show that the alliance is not afraid of Moscow, and that getting clear security guarantees while outside the group would be one of his goals in Vilnius (Reuters News)

European stocks may open on a firm note Monday amid a growing sense of optimism about the U.S. economy (RTT News)

The United States military says it has killed a leader of the ISIL (ISIS) group in eastern Syria in a drone strike. (Aljazeera News)

NSX DAILY UPDATES (06 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	1,299,564.00	39,028,613.87	100.00%
ETFs	-	-	0.00%
Total	1,299,564.00	39,028,613.87	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 39,028,613.87 worth of shares was traded on the NSX on Thursday with about N$ 5,034,180 worth of shares belonging to Anglo-American plc and N$ 45,430 worth of shares belonging to Letshego Holdings Ltd on the domestic market. Additionally, No ETFs were traded on Thursday.

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American continuously declined, as Chinese industrial profits data disappointed, resulting in a decline of 3.9% in the company's stock value at closing
Letshego Holdings’ shares were traded by market participants with a slight decline in share price by 2.5% at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.40	50.40	0.00%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.95	3.85	-2.53%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.08	7.09	0.14%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	543.00	522.00	-3.87%
B2Gold Corporation	B2G	67.13	66.32	-1.21%
Oceana Group Limited	OCG	71.60	71.26	-0.47%
Truworths	TRW	56.75	55.73	-1.80%
Nedbank Group Limited	NBK	226.56	221.78	-2.11%
Standard Bank Group	SNB	178.36	175.93	-1.36%
Shoprite Holdings	SRH	225.23	221.11	-1.83%
Firstrand Limited	FST	68.75	67.77	-1.43%
Momentum Metropolitan Holdings	MMT	18.12	17.76	-1.99%
Old Mutual Ltd	OMM	12.20	11.95	-2.05%
Sanlam Limited	SLA	59.99	59.12	-1.45%
Santam Limited	SNM	290.50	287.99	-0.86%
Vukile Property Fund Limited	VKN	12.49	12.10	-3.12%
Investec Limited	IVD	105.89	103.38	-2.37%
PSG Konsult Limited	KFS	13.21	13.41	1.51%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	336.32	338.68	0.70%
New Gold Palladium ETF	NGNPLD	227.34	226.96	-0.17%
New Gold Platinum ETF N	NGNPLT	165.10	164.98	-0.07%
Satrix S&P Namibia Bond ETF)	SXNNAM	19.13	19.02	-0.58%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	19.08
EUR/NAD	20.78
GBP/NAD	24.30
EUR/GBP	0.85
EUR/USD	1.08
GBP/USD	1.27
AUD/USD	0.66
USD/JPY	144.02
Commodities @ 07:00
Gold	1,916.15
Silver	22.86
Platinum	908.55
Palladium	1,234.50
WTI	71.83
Brent	76.53

Table 5: Exchange Rates and Commodities

Local News

Namibia’s sovereign wealth fund has grown to N$385 million from its initial capital injection of N$270 million, deposited at its launch in May 2022. (Sun Newspaper)

The real value of building plans approved decreased during the first quarter of 2023. This leading indicator for future construction activity, decreased year-on-year and quarter-on-quarter by 27.1% and 33.3%, respectively. (New Era Newspaper)

Economist Daniel Motinga has threatened to resign as NamPower board chairperson due to continued political interference in the running of the national electricity company. (The Namibian Newspaper)

Sub-Sahara News

A surge in US private payrolls fuelled worries that US interest rates would stay higher for longer. (News24)

Nigeria’s average daily petrol consumption has fallen by 28% since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator shows. (CNBC Africa)

Emergency services in the Ekurhuleni metro have confirmed that 24 people died of suspected gas inhalation at the Angelo informal settlement in Boksburg on Wednesday night (AllAfrica News)

International News

The head of the U.N.'s nuclear watchdog said on Friday that one or two of the team of international experts behind its report greenlighting Japan's release of treated radioactive water from the crippled Fukushima plant may have expressed concerns (Reuters News)

Quarterly national accounts from the UK and flash inflation from France and the euro area are due on Friday, headlining a hectic day for the European economic news. (RTT News)

Israeli forces have shot dead a Palestinian man after he opened fire near an illegal settlement, killing one Israeli soldier, according to Israel’s army. (Aljazeera News)

NSX DAILY UPDATES (05 JULY 2023)

*NSX Trades*	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	655,336.00	13,060,029.31	96.64%
ETFs	1,744.00	454,303.92	3.36%
Total	657,080.00	13,514,333.24	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 13,060,029.31 worth of shares was traded on the NSX on Wednesday with about N$ 565,919 worth of shares belonging to Anglo-American plc and N$ 504,400 worth of shares belonging FirstRand Namibia Ltd on the domestic market. Additionally, ETFs worth N$ 454,303.92 were traded on Wednesday.

HEI Market Commentary

From the trading activity that took place:

Share belonging to Anglo-American continuously declined, as Chinese industrial profits data disappointed, resulting in a decline of 1.5% in the company's stock value at closing
FirstRand Namibia’s shares were traded by market participants with no change in share price at closing.

*Name*	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	36.80	36.80	0.00%
Nictus Holdings	NHL	2.20	2.20	0.00%
Capricorn	CGP	14.65	14.65	0.00%
First Rand Namibia	FNB	50.39	50.40	0.02%
Standard Bank Namibia	SNO	6.50	6.50	0.00%
Oryx Limited	ORY	11.00	11.00	0.00%
Letshego	LHN	3.90	3.95	1.28%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.75	12.75	0.00%
Mobile Telecommunication Company	MOC	7.08	7.08	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	8.99	8.99	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	551.19	543.00	-1.49%
B2Gold Corporation	B2G	66.67	67.13	0.69%
Oceana Group Limited	OCG	71.56	71.60	0.06%
Truworths	TRW	56.41	56.75	0.60%
Nedbank Group Limited	NBK	228.97	226.56	-1.05%
Standard Bank Group	SNB	178.82	178.36	-0.26%
Shoprite Holdings	SRH	226.78	225.23	-0.68%
Firstrand Limited	FST	69.20	68.75	-0.65%
Momentum Metropolitan Holdings	MMT	18.15	18.12	-0.17%
Old Mutual Ltd	OMM	12.19	12.20	0.08%
Sanlam Limited	SLA	59.29	59.99	1.18%
Santam Limited	SNM	290.12	290.50	0.13%
Vukile Property Fund Limited	VKN	12.60	12.49	-0.87%
Investec Limited	IVD	106.58	105.89	-0.65%
PSG Konsult Limited	KFS	13.33	13.21	-0.90%

Table 3: Dual Listed Trades

*Name*	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	334.80	336.32	0.45%
New Gold Palladium ETF	NGNPLD	225.51	227.34	0.81%
New Gold Platinum ETF N	NGNPLT	165.61	165.10	-0.31%
Satrix S&P Namibia Bond ETF)	SXNNAM	19.11	19.13	0.10%

Table 4: ETFs

*Exchange Rates @ 07:00*
USD/NAD	18.78
EUR/NAD	20.37
GBP/NAD	23.85
EUR/GBP	0.85
EUR/USD	1.08
GBP/USD	1.26
AUD/USD	0.66
USD/JPY	144.42
Commodities @ 07:00
Gold	1,924.90
Silver	23.41
Platinum	924.85
Palladium	1,249.78
WTI	71.99
Brent	76.74

Table 5: Exchange Rates and Commodities

Local News

Dedicated stations will be established in each region to assist livestock farmers to update stock brands, ear tags, and other identification methods. (Sun Newspaper)

During the month under review (May 2023) the total airport arrival declined to 40,902, down from 43,943 arrivals recorded in April 2023. (HEI Research)

The Ministry of Gender Equality, Poverty Eradication, and Social Welfare says more than 618 000 Namibians are surviving on social grants. These include old-age pensions, grants for orphans and vulnerable children (OVC), and disability grants. (The Namibian Newspaper)

Sub-Sahara News

Former president Jacob Zuma will play a key role in representing Belarus at a Zimbabwe conference on the trade in African carbon credits, according to the organizers of the event. (News24)

The latest round of voluntary crude oil output cuts evidence the cooperation between heavyweight producers and allies Russia and Saudi Arabia, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on Wednesday. (CNBC Africa)

Africa football boss Patrice Motsepe has stepped in to resolve the South African women's national team Banyana Banyana crisis. (AllAfrica News)

International News

Experts from the U.N. nuclear watchdog based at the Russian-held Zaporizhzhia nuclear power plant in Ukraine have yet to observe any indications of mines or explosives at the plant, but they need more access to be sure, the agency said on Wednesday. (Reuters News)

European stocks are seen opening little changed on Thursday as rate hike fears persisted, and investors awaited China PMI data for directional cues (RTT News)

Instagram owner Meta has launched its new social media network Threads, aiming to capitalize on the turmoil at Twitter under billionaire owner Elon Musk. (Aljazeera News)

Airport Arrivals Report, May 2023

Background

According to the World Tourism Organization, international tourism is on its way back to pre-pandemic levels, with twice as many people traveling in the first quarter of 2023 as in the same period of 2022. During the first quarter of 2023, international arrivals had reached 80% of pre-pandemic levels. During this period, an estimated 235 million tourists traveled internationally, more than doubling the figure for the same period in 2022. This is an indication that tourism has maintained its resilience. Additionally, according to revised 2022 data, over 960 million tourists traveled internationally last year, implying that two-thirds (66%) of pre-pandemic numbers were recovered with the African continent reaching 88% of 2019 levels.

The domestic tourism activity, as measured by total airport passenger arrivals, improved significantly year on year with total tourist arrivals increasing year on year to 81 614 for the first quarter of 2023. The recovery could be primarily attributed to the normalization of travel activity following the removal of the Covid-19 restrictions as the economy opened up. The Covid-19 pandemic, as well as shifting consumer preferences and more significant international developments, many of which cannot always be easily predicted and catered to, have forced Namibia's tourism industry to adapt over the past few years. Namibia is known for its stunning landscapes, rich biodiversity, and unique cultural experiences, making it an attractive tourist destination in the region and on the continent.

2. Analysis

2.1 Quarter 1 2023

During quarter 1 of 2023 total arrivals were 37.0% lower than the pre-pandemic level when compared to the first quarter of 2019 (pre-pandemic period), the yearly increase in airport passenger arrivals was reflected in both international and regional arrivals. Quarter-on-quarter, the total number of tourist arrivals declined by 15.6% from 96 755 recorded during the fourth quarter of 2022. This could be attributed to seasonal patterns that influence traveler’s choices. Furthermore, international arrivals increased year on year, from 18 207 recorded during the first quarter of 2022 to 37 654 recorded in the first quarter of 2023. Additionally, regional arrivals increased from 30 890 recorded in the first quarter of 2022 to 43 960 recorded in the first quarter of 2023. The increase in international and regional arrivals could be attributed to an improvement in consumer confidence that could have led to a high demand in traveling activities.

2.2 May 2023

During the month under review (May 2023) a total airport arrival declined to 40902, down from 43943 arrivals recorded in April 2023. This translated into a 6% monthly decline (Figure 1). The decline was attributed to a decline in Hosea Kutako International Airport (HKIA) with a decline of 11% followed by the regional airport arrivals declining by 5%. This could have been attributed to low regional and international travelers’ confidence ascribed to a high cost of living, leading to cautious spending on traveling activities. Notwithstanding this, total airport arrivals for May 2023 were driven by international arrivals taking up 43.3% of total arrivals followed by regional arrivals with 40.8% and the remaining 15.9% was domestic arrivals.

On an annual basis, total airport arrivals increased by 32.7% when compared to 2022. This increase could be attributed to improved travelers’ confidence amidst the confluence of factors that influences consumers spending patterns (Figure 2).

Figure 1: Monthly Total Airport Arrivals (May 2022 – May 2023)

Source: NAC &HEI RESEARCH

Figure 2: International, Regional vs. Domestic Arrivals (May 2022 – May 2023)

Source: NAC & HEI RESEARCH

3. Outlook

The economic environment will continue to be the primary determinant of how effectively the tourism sector recovers in 2023 and beyond. However, we anticipate an increase in arrivals for the month of June, particularly domestic arrivals, given that June is a school holiday month, and as a result, we expect an increase in demand for travel-related activities.

Posted on July 5, 2023
Tourism
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Author: hei