Author: hei




NSX DAILY UPDATE (15 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 1,026,724.00 39,859,461.9699.24%
ETFs 922.00 305,320.300.76%
Total 1,027,646.00 40,164,782.26100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 39,859,461.96 worth of shares was traded on the NSX on Thursday with about N$ 4,374,283 worth of shares belonging to Anglo-American plc and N$4,922 worth of shares belonging to Paratus Namibia Holdings Ltd on the home front. ETFs worth N$ 305,320.30 were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

  • Market participants sold off belonging to Anglo-American as commodity prices decline, resulting in a slight decrease of 0.1% in the company's stock value at closing
  • Market participants actively traded Paratus shares on the domestic market, resulting in a decline in share price by 0.31%
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS36.0036.000.00%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0041.000.00%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.75-0.31%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

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NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM602.20601.80-0.07%
B2Gold CorporationB2G68.9967.64-1.96%
Oceana Group LimitedOCG71.4473.252.53%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW56.9056.30-1.05%
Nedbank Group LimitedNBK228.35229.280.41%
Standard Bank GroupSNB173.33173.710.22%
Shoprite HoldingsSRH228.84228.66-0.08%
FirstRand LimitedFST68.5469.190.95%
Momentum Metropolitan HoldingsMMT18.4818.620.76%
Old Mutual LtdOMM12.0812.190.91%
Sanlam LimitedSLA59.4960.461.63%
Santam LimitedSNM292.00294.200.75%
Vukile Property Fund LimitedVKN13.2013.401.52%
Investec LimitedIVD110.60110.48-0.11%
PSG Konsult LimitedKFS12.6913.597.09%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD333.21334.320.33%
New Gold Palladium ETFNGNPLD247.88245.61-0.92%
New Gold Platinum ETF NNGNPLT171.92174.321.40%
Satrix S&P Namibia Bond ETF)SXNNAM18.9118.87-0.21%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.25
EUR/NAD19.96
GBP/NAD23.32
EUR/GBP0.85
EUR/USD1.09
GBP/USD1.27
AUD/USD0.68
USD/JPY140.60
Commodities @ 07:00 
Gold1,968.20
Silver23.98
Platinum991.40
Palladium1.396.78
WTI70.44
Brent75.47
Table 5: Exchange Rates and Commodities 

Local News

One of Namibia's largest banks has allegedly indicated that it will withdraw its employees from its medical aid fund should a 10% increase in monthly contributions take effect on 1 July. (Sun Newspaper)

Employees of the Walvis Bay municipality expressed concern about the competence of their senior management, saying it is playing Russian roulette with the ratepayers’ money. (New Era Newspaper)

Health Minister Kalumbi Shangula says there is a massive shortage of medical specialists in the country, with one doctor per 1000 patients. (The Namibian Newspaper)

Sub-Sahara News

Following last year's violent, unprotected strike which led to Stage 6 load shedding, this year's Eskom wage negotiations reached an agreement as part of its bargaining forum. (News24)

Kenya’s finance minister on Thursday said the government will pay all debts when they fall due, and cut the budget deficit for the fiscal year starting next month to 4.4% from an estimated 5.8% in this financial year. (CNBC Africa)

Opposition parties raised concerns over the African National Congress's (ANC) approval of the National Health Insurance (NHI) Bill, citing potential corruption and public health facilities' general unreadiness. Health Minister Joe Phaahla praised the legislation, said: "This is one of the most revolutionary pieces of legislation presented to this house since the dawn of our democracy in 1994." (AllAfrica News)

International News

A federal grand jury has indicted a U.S. Air National Guardsman accused of leaking top-secret military intelligence records online, the Justice Department said in a statement on Thursday. (Reuters News)

Asian stock markets are mostly higher on Friday, following the positive cues from Wall Street overnight, on easing concerns over the outlook for interest rates after a report showing initial jobless claims in the U.S. increased by much more than expected last week. (RTT News)

Reports of the widespread use of torture by Russian forces in Ukraine could indicate that the severe abuse of Ukrainian prisoners of war and civilians is “state-endorsed” by Moscow, a United Nations expert has said (Aljazeera News)

NSX DAILY UPDATES (14 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 2,582,807.00 113,214,135.15100.00%
ETFs -   -  0.00%
Total 2,582,807.00 113,214,135.15100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 113,214,135.15 worth of shares was traded on the NSX on Wednesday with about N$ 18,284,361 worth of shares belonging to Anglo-American plc and N$ 2,124 worth of shares belonging to Mobile Telecommunications Limited on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

  • Market participants subscribed belonging to Anglo-American as metal prices and currency exchange improves, resulting in an increase of 3.6% in the company's stock value at closing
  • Market participants actively traded Mobile Telecommunications Limited shares on the domestic market, resulting in no change in share price.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS36.0036.000.00%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0041.000.00%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.790.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

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NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM581.06602.203.64%
B2Gold CorporationB2G71.0068.99-2.83%
Oceana Group LimitedOCG71.6671.44-0.31%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW55.2056.903.08%
Nedbank Group LimitedNBK225.53228.351.25%
Standard Bank GroupSNB170.00173.331.96%
Shoprite HoldingsSRH228.21228.840.28%
FirstRand LimitedFST68.1268.540.62%
Momentum Metropolitan HoldingsMMT18.4918.48-0.05%
Old Mutual LtdOMM11.9812.080.83%
Sanlam LimitedSLA59.6359.49-0.23%
Santam LimitedSNM295.20292.00-1.08%
Vukile Property Fund LimitedVKN13.1513.200.38%
Investec LimitedIVD109.88110.600.66%
PSG Konsult LimitedKFS12.3812.692.50%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD337.47333.21-1.26%
New Gold Palladium ETFNGNPLD244.09247.881.55%
New Gold Platinum ETF NNGNPLT175.54171.92-2.06%
Satrix S&P Namibia Bond ETF)SXNNAM18.8618.910.27%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.40
EUR/NAD19.90
GBP/NAD23.26
EUR/GBP0.85
EUR/USD1.08
GBP/USD1.26
AUD/USD0.67
USD/JPY141.04
Commodities @ 07:00 
Gold1,947.55
Silver23.50
Platinum974.75
Palladium1.367.00
WTI68.06
Brent72.99
Table 5: Exchange Rates and Commodities 

Local News

The High Court will today decide whether Menzies should continue offering ground-handling services at the country's biggest airport, or whether it should pack its bags and make way for locally-owned Paragon. (Sun Newspaper)

The Bank of Namibia is expected to throw yet another jab at consumers with the third repo rate announcement of the year this morning. (New Era Newspaper)

The government has set in motion plans to ban single-use plastic by the end of the year. Environment minister Pohamba Shifeta recently told parliament that plastic waste stays on the planet for much longer than anyone may think. (The Namibian Newspaper)

Sub-Sahara News

Health Minister Joe Phaahla says he does not see the NHI Bill changing much in the National Council of Provinces. (News24)

Nigeria’s central bank allowed the naira currency NGN=D1 to drop as much as 36% on the official market on Wednesday, days after President Bola Tinubu suspended the central bank governor who oversaw much-criticized multiple exchange rates. (CNBC Africa)

Tributes are pouring in for Cameroon's charismatic political leader and chairman of the country's first political party, the Social Democratic Front. The party announced his passing on June 12, 2023, in Yaoundé at the age of 81. (AllAfrica News)

International News

The Federal Reserve kept interest rates unchanged on Wednesday but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year (Reuters News)

Asian stock markets are trading mostly lower on Thursday, following the mostly negative cues from global markets overnight, as traders are nervous over the outlook for interest rates as the Bank of Canada once again raised interest rates after leaving rates unchanged for two straight meetings. (RTT News)

At least 78 people have died and many more are feared missing after a fishing boat carrying refugees and migrants capsized and sank off the southern coast of Greece – one of the worst such disasters this year. (Aljazeera News)

MPC Outlook, June 2023

The Bank of Namibia Monetary Policy Committee (MPC) is set to make its third announcement for 2023 on the interest rate decision today the 14th of June 2023. The MPC increased the repo rate by 25 basis points during their second meeting on the 13th of April 2023, bringing the repo rate to 7.25%. Additionally, the South Africa Reserve Bank increased its repo rate by 50 basis points in its last meeting held in March 2023 bringing the repo rate to 8.25%. This translated into a spread of 100 basis points between Namibia and South Africa’s repo rates. (Figure 1)

Our outlook is that the Bank of Namibia’s MPC could increase the repo rate by 25 basis points to continue protecting the currency peg and to control inflation for price stability. We expect the interest rate hike cycle to persist in the short term. This is augmented by the lingering upside inflation risks in South Africa as food price inflation continues to be elevated, as the risk of drier weather conditions in coming months has increased. Load-shedding may additionally have broader price effects on the cost of doing business and the cost of living. Non-performing loans at the banks will rise as a result of the ongoing increase in interest rates. As such banks will start to take the variation in the rise in non-performing loans and the returns on interest rates into account.

Figure 1: Repo and Interest Rates, Namibia vs. South Africa (January 2019- April 2023)

Source: BoN & HEI Research

South Africa monetary policy committee interest Rate decision, 26 January 2023

The South African bank’s monetary policy committee opted to increasing the repurchase rate by 0.25% to 7.25%. This decision was strongly motivated by finding the balance between inflation risks and the potential economic slowdown climate. The revised repurchase rate remains supportive of credit demand in the near term while raising rates to levels more consistent with the current view of inflation and its risks to it. The SARB’s MPC aims to anchor inflation expectations more firmly around the midpoint of the target band (3% -6%) which currently stands at 7.2%. The Governor of the Reserve Bank is of the view that this decision is aimed at maintaining the inflation target sustainably over time. Guiding inflation back towards the mid-point of the target band can reduce the economic costs of high inflation and enable lower interest rates in the future according to SARB. Economic and financial conditions are expected to remain more on the upside of risk for the foreseeable future.

Figure 1: Global real interest rates vs. Inflation as at 27 January 2023

Source: COUNTRY’S STATISTICS AGENCY, CENTRAL BANKS & HEI RESEARCH

NCPI, MAY 2023

Executive Summary

  • In May 2023, the annual inflation rate rose to 6.3% from the 5.4% recorded in May 2022 and from the 6.1% recorded the prior month. (Figure 1)
  • The categories of food and non-alcoholic beverages (12.5%), recreation and culture (9.9%), miscellaneous goods and services (7.7%), and alcoholic beverages and tobacco (7.5%) saw the biggest changes in the annual inflation rate. (Figure 2)
  • Namibia recorded an inflation rate of 0.2% on a monthly basis in May 2023 compared to 0.4% in April 2023

Analysis

  • The NCPI basket, which includes 16.5% of food and non-alcoholic beverages, had year-over-year inflation of 12.5% during the review period as opposed to 6.6% during the same period in 2022. This emanated from an increase in the demand for green pepper, cabbage, cucumber, and hot beverages such as tea due to the winter season (figure 3)
  • The annual inflation rate for recreation and culture rose from 4.3% to 9.9%. This was caused by a 99.2% increase in package vacations as a result of a boost in tourism activities
  • For miscellaneous goods and services, the annual inflation rate rose from 0.5% to 7.7%. This occurred due to the demand for insurance services
  • The category for alcoholic beverages and tobacco increased from 4.7% during the same time last year to 7.5% this year. This was primarily impacted by the 8.4% increase in the cost of alcoholic beverages, especially white spirits 

Figure 1: Annual Inflation Rate Namibia, (May 2022 – May 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

Figure 3: Annual inflation rate for food and non-alcoholic beverages per subgroup, (May 2022 – May 2023)

Source: NSA & HEI Research

Outlook

We anticipate that inflation will continue to be higher for longer as a result of South Africa's subdued economic outlook, which is primarily caused by the energy crisis, transportation bottlenecks, and the local currency hovering at an all-time low as a result of recent diplomatic tensions. This is because a significant portion of Namibia's imports, specifically food, which is the primary driver of the annual inflation, is imported from South Africa.

NSX DAILY UPDATES (13 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 299,311.00 21,595,324.0171.43%
ETFs 25,515.00 8,636,827.5028.57%
Total 324,826.00 30,232,151.51100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 21,595,324.01 worth of shares was traded on the NSX on Tuesday with about N$ 2,321,946 worth of shares belonging to Anglo-American plc and N$ 2,182,752 worth of shares belonging to Namibia Breweries on the home front. ETFs worth N$ 8,636,827.50 were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

  • Market participants subscribed belonging to Anglo-American as metal prices rebounded, resulting in an increase of 3.5% in the company's stock value at closing
  • Market participants actively traded Namibia Breweries shares on the domestic market, resulting in an increase in share price at closing from N$35.99 to N$36.00.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS35.9936.000.03%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0141.00-0.02%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.790.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM561.47581.063.49%
B2Gold CorporationB2G71.3271.00-0.45%
Oceana Group LimitedOCG70.7171.661.34%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW53.9955.202.24%
Nedbank Group LimitedNBK221.00225.532.05%
Standard Bank GroupSNB167.34170.001.59%
Shoprite HoldingsSRH222.22228.212.70%
FirstRand LimitedFST66.5268.122.41%
Momentum Metropolitan HoldingsMMT18.1718.491.76%
Old Mutual LtdOMM11.7711.981.78%
Sanlam LimitedSLA58.9059.631.24%
Santam LimitedSNM293.50295.200.58%
Vukile Property Fund LimitedVKN13.0413.150.84%
Investec LimitedIVD108.68109.881.10%
PSG Konsult LimitedKFS12.3812.380.00%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD337.05337.470.12%
New Gold Palladium ETFNGNPLD241.01244.091.28%
New Gold Platinum ETF NNGNPLT176.99175.54-0.82%
Satrix S&P Namibia Bond ETF)SXNNAM18.6318.861.23%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.65
EUR/NAD20.11
GBP/NAD23.51
EUR/GBP0.85
EUR/USD1.07
GBP/USD1.26
AUD/USD0.67
USD/JPY140.09
Commodities @ 07:00 
Gold1,959.35
Silver23.85
Platinum981.85
Palladium1.357.03
WTI69.66
Brent74.62
Table 5: Exchange Rates and Commodities 

Local News

Cabinet - through finance minister Ipumbu Shiimi - has been accused of bullying NamPower to discontinue the suspension of electricity and to “never” again suspend the supply of utilities to various defaulting local authorities as a means to expedite revenue collection. (Sun Newspaper)

The shortage of medicines and clinical supplies will soon be something of the past as the health ministry started to procure medicine and clinical materials directly from suppliers. (New Era Newspaper)

Officials at the home affairs ministry are reportedly unhappy with the relationship between senior ministry officials and the Chinese government. They are particularly concerned about conditions in the agreement that may disadvantage Namibia. (The Namibian Newspaper)

Sub-Sahara News

Following arguably the strongest US threat yet against South Africa over its relationship with Russia, economists have warned that South Africa risks harsh pain. (News24)

The inflation rate cooled in May to its lowest annual rate in more than two years, likely taking pressure off the Federal Reserve to continue raising interest rates, the Labor Department reported Tuesday. (CNBC Africa)

A group of Democratic and Republican members of the U.S. Congress has written to Secretary of State Antony Blinken requesting that the annual Africa Growth and Opportunities Act (Agoa) Forum be moved from South Africa this year (AllAfrica News)

International News

Former U.S. President Donald Trump pleaded not guilty on Tuesday to federal criminal charges that he unlawfully kept national security documents when he left office and lied to officials who sought to recover them. (Reuters News)

Asian stocks turned in a mixed performance on Wednesday as Chinese trade data disappointed and investors awaited cues from key central bank meetings due next week (RTT News)

A top Russian officer has been reported killed in a Ukrainian missile strike during Kyiv’s counteroffensive against Russian forces, a Russian-backed official in Ukraine has said, offering his condolences. (Aljazeera News)

NSX DAILY UPDATES (12 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 611,752.00 26,837,718.19100.00%
ETFs -   -  0.00%
Total 611,752.00 26,837,718.19100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 26,837,718.19 worth of shares was traded on the NSX on Monday with about N$ 3,134,201 worth of shares belonging to Anglo-American plc and N$ 3,540 worth of shares belonging to Mobile Telecommunications Limited on the home front. No ETFs were traded on Monday.

HEI Market Commentary

From the trading activity that took place:

  • Market participants sold shares belonging to Anglo-American as a significant downside risk to a tight central bank policy, resulting in a decline of 2.9% in the company's stock value.
  • Market participants actively traded Mobile Telecommunications Limited shares on the domestic market, resulting in no change in share price at closing.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS35.9935.990.00%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0141.010.00%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.790.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM577.98561.47-2.86%
B2Gold CorporationB2G71.9971.32-0.93%
Oceana Group LimitedOCG72.0970.71-1.91%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW54.6053.99-1.12%
Nedbank Group LimitedNBK223.08221.00-0.93%
Standard Bank GroupSNB171.95167.34-2.68%
Shoprite HoldingsSRH224.28222.22-0.92%
FirstRand LimitedFST68.0466.52-2.23%
Momentum Metropolitan HoldingsMMT18.0718.170.55%
Old Mutual LtdOMM11.7711.770.00%
Sanlam LimitedSLA59.0858.90-0.30%
Santam LimitedSNM296.27293.50-0.93%
Vukile Property Fund LimitedVKN12.8013.041.87%
Investec LimitedIVD109.93108.68-1.14%
PSG Konsult LimitedKFS12.4912.38-0.88%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD342.17337.05-1.50%
New Gold Palladium ETFNGNPLD238.25241.011.16%
New Gold Platinum ETF NNGNPLT182.06176.99-2.78%
Satrix S&P Namibia Bond ETF)SXNNAM18.7018.63-0.37%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.55
EUR/NAD19.97
GBP/NAD23.22
EUR/GBP0.86
EUR/USD1.07
GBP/USD1.25
AUD/USD0.67
USD/JPY139.45
Commodities @ 07:00 
Gold1,973.93
Silver24.17
Platinum998.00
Palladium1.345.50
WTI67.40
Brent72.12
Table 5: Exchange Rates and Commodities 

Local News

Following the uproar over the perceived mass exclusion of the numerically dominant tribes of the //Karas Region from the ongoing recruitment of police cadet officers, the government has moved to ensure that all future recruitments comprise 80% of the region’s indigenous communities. (Sun Newspaper)

After being ignored last week, Cabinet again directed national power utility Nampower to discontinue the suspension of electricity for local authorities in arrears. (New Era Newspaper)

The government has ordered a thorough investigation into the source of the dried sedimentation of traditional brewed beer which killed 16 people at Kayova village last week, saying the product should not be sold anymore. (The Namibian Newspaper)

Sub-Sahara News

Eskom has finally put out a request for proposal (RFP) to supply the Gourikwa power plant in Mosselbay and Ankerlig power station in Atlantis with natural gas. (News24)

The South African rand extended gains on Monday, building from the previous week, as investor sentiment towards Africa’s most industrialized economy improved. (CNBC Africa)

Angolan head of State João Lourenço has announced plans for the installation of a cybersecurity academy in the country. (AllAfrica News)

International News

Former President Donald Trump arrived in Miami on Monday to face federal criminal charges, while a new Reuters/Ipsos poll found a vast majority of his fellow Republicans believe the case to be politically motivated. (Reuters News)

Asian markets turned in a mixed performance on Tuesday as weak U.S. data rekindled growth worries and the Reserve Bank of Australia kept the door open to further tightening after unexpectedly raising its key interest rate (RTT News)

Ukraine says it is continuing to make advances against Russian troops occupying its south and east as the early stages of its much-hyped counteroffensive take shape. (Aljazeera News)

NSX DAILY UPDATE (09 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 912,802.00 35,235,362.82100.00%
ETFs -   -  0.00%
Total 912,802.00 35,235,362.82100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 35,235,362.82 worth of shares was traded on the NSX on Friday with about N$ 2,907,573 worth of shares belonging to Shoprite Holdings and N$ 893,239 worth of shares belonging to FirstRand Namibia Ltd on the home front. No ETFs were traded on Friday.

HEI Market Commentary

From the trading activity that took place:

  • Market participants bought shares belonging to Shoprite Holdings, resulting in a decline of 4.5% in the company's stock value.
  • Market participants actively traded FirstRand Namibia shares on the domestic market, resulting in no change in share price at closing.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS35.9935.990.00%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0141.010.00%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.790.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM583.85577.98-1.01%
B2Gold CorporationB2G71.5471.990.63%
Oceana Group LimitedOCG72.7972.09-0.96%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW52.6054.603.80%
Nedbank Group LimitedNBK220.37223.081.23%
Standard Bank GroupSNB165.25171.954.05%
Shoprite HoldingsSRH214.52224.284.55%
FirstRand LimitedFST65.8668.043.31%
Momentum Metropolitan HoldingsMMT17.9518.070.67%
Old Mutual LtdOMM11.7011.770.60%
Sanlam LimitedSLA57.8059.082.21%
Santam LimitedSNM292.97296.271.13%
Vukile Property Fund LimitedVKN12.7012.800.79%
Investec LimitedIVD107.84109.931.94%
PSG Konsult LimitedKFS12.4712.490.16%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD345.25342.17-0.89%
New Gold Palladium ETFNGNPLD252.04238.25-5.47%
New Gold Platinum ETF NNGNPLT184.50182.06-1.32%
New Funds S&P NAM BondNFNAMA18.6018.700.54%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.72
EUR/NAD20.13
GBP/NAD23.54
EUR/GBP0.85
EUR/USD1.07
GBP/USD1.25
AUD/USD0.67
USD/JPY139.48
Commodities @ 07:00 
Gold1,975.90
Silver24.39
Platinum1,013.20
Palladium1.316.00
WTI70.35
Brent75.04
Table 5: Exchange Rates and Commodities 

Local News

Former Air Namibia employees submitted a petition to the Ministry of Justice, demanding full payment of severance claims agreed to under oath during their involuntary termination following the company's liquidation. (Sun Newspaper)

Secretive defense company August 26 Holdings, which has strenuously and consistently refused to account for public funds, is once again in the red, this time over the alleged disappearance of around N$3 million. Although details around the embezzlement remain sketchy (New Era Newspaper)

Swapo vice president Netumbo Nandi-Ndaitwah says the party members should respect their leaders, including those who contested for the top position but did not make it. (The Namibian Newspaper)

Sub-Sahara News

Eskom's chairman, Mpho Makwana, says blackouts have eased in recent weeks because of the change in the power utility's management structure. (News24)

Pandemic-related disruptions to global supply chains and the effects of Russia’s war in Ukraine have driven up prices of energy, commodities, and other necessities. (CNBC Africa)

Top EU figures are to meet with the Tunisian president to discuss a rise in attempted migration to Europe. But Kais Saied says his economically stricken country won't act as a "border guard" for the bloc. (AllAfrica News)

International News

Former U.S. President Donald Trump has become the most high-profile person to ever face criminal charges under the Espionage Act for the unlawful retention of sensitive national defense records. (Reuters News)

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from global markets on Friday, as traders react positively to the resolution of the U.S. debt ceiling crisis after it was signed into law by US President Joe Biden (RTT News)

Iran’s supreme leader, Ayatollah Ali Khamenei, has said claims that Tehran may pursue a nuclear weapon are a false “excuse” that untrustworthy international stakeholders use. (Aljazeera News)

NSX DAILY UPDATES (08 JUNE 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 1,120,505.00 76,972,800.9693.43%
ETFs 23,030.00 5,409,863.846.57%
Total 1,143,535.00 82,382,664.80100.00%
Table 1: NSX Trades

NSX Activities

A total of N$ 76,972,800.96 worth of shares was traded on the NSX on Thursday with about N$190,586 worth of shares belonging to Anglo-American plc and N$ 269,066 worth of shares belonging to Capricorn Group Limited on the home front. ETFs worth N$ 5,409,863.84 were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

  • Market participants sold-off to shares belonging to Anglo-American, resulting in a decline of 0.6% in the company's stock value.
  • Market participants actively traded Capricorn Group shares on the domestic market, resulting in no change in share price at closing.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS35.9935.990.00%
Nictus HoldingsNHL2.202.200.00%
CapricornCGP14.0014.000.00%
First Rand NamibiaFNB41.0141.010.00%
Standard Bank NamibiaSNO7.007.000.00%
Oryx LimitedORY11.3011.300.00%
Letshego  LHN3.753.750.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.7912.790.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE8.998.990.00%
Table 2: Primary listed Trades

­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM587.24583.85-0.58%
B2Gold CorporationB2G73.8371.54-3.10%
Oceana Group LimitedOCG71.6972.791.53%
Mediclinic International PlcMEP118.30118.300.00%
TruworthsTRW51.6952.601.76%
Nedbank Group LimitedNBK217.17220.371.47%
Standard Bank GroupSNB163.29165.251.20%
Shoprite HoldingsSRH214.44214.520.04%
FirstRand LimitedFST64.7765.861.68%
Momentum Metropolitan HoldingsMMT17.8717.950.45%
Old Mutual LtdOMM11.5711.701.12%
Sanlam LimitedSLA56.5457.802.23%
Santam LimitedSNM289.50292.971.20%
Vukile Property Fund LimitedVKN12.7312.70-0.24%
Investec LimitedIVD106.31107.841.44%
PSG Konsult LimitedKFS12.0412.473.57%
Table 3: Dual Listed Trades

Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD347.83345.25-0.74%
New Gold Palladium ETFNGNPLD259.43252.04-2.85%
New Gold Platinum ETF NNGNPLT190.12184.50-2.96%
New Funds S&P NAM BondNFNAMA18.6318.60-0.16%
Table 4: ETFs

Exchange Rates @ 07:00 
USD/NAD18.85
EUR/NAD20.32
GBP/NAD23.68
EUR/GBP0.85
EUR/USD1.07
GBP/USD1.25
AUD/USD0.67
USD/JPY139.31
Commodities @ 07:00 
Gold1,979.80
Silver24.40
Platinum1,017.70
Palladium1.360.50
WTI75.31
Brent75.31
Table 5: Exchange Rates and Commodities 

Local News

Swapo secretary-general Sophia Shaningwa on Wednesday told party parliamentarian Tjekero Tweya, who was singing like a canary on State House’s rigid firewall around the green hydrogen deal, that he has said enough about the presidency. (Sun Newspaper)

The directors and management of the national power utility have resolved to proceed with planned power suspensions that commenced on Monday for indebted local authorities as per its debt collection plan. (New Era Newspaper)

The board of directors of the Ministry of Defence and Veterans Affairs company August 26 Logistics has announced the suspension of the company’s managing director, Salatiel Ntinda, and finance manager, Kallie Nel, on allegations of misconduct. (The Namibian Newspaper)

Sub-Sahara News

A fund run by one of South Africa’s largest asset managers has altered its approach on platinum, seeing better returns from betting on the physical metal, while offloading shares in companies that produce it as they grapple with a power crisis. (News24)

Despite a U.S.-U.K. trade deal remaining very much elusive, British Prime Minister Rishi Sunak and President Joe Biden signed a new “Atlantic Declaration” aiming to bolster economic security in the face of threats coming from Russia and China. (CNBC Africa)

The death toll from the cholera outbreak in South Africa has risen to 32, reports EWN. A 42-year-old woman from Parys in the Free State is the second confirmed fatality. The Free State Health Department confirmed the death of the 42-year-old woman a day after laboratory tests identified cholera as the cause (AllAfrica News)

International News

Donald Trump has been indicted by a federal grand jury for retaining classified government documents and obstruction of justice, according to a lawyer for the former U.S. president and another source familiar with the matter. (Reuters News)

Asian stocks advanced on Friday after the U.S. Senate passed a bipartisan bill to raise the debt ceiling into 2025 and cut the deficit, the final hurdle for the U.S. to avoid default on its debt. (RTT News)

Former United States President Donald Trump has alleged on his Truth Social platform that he faces indictment on federal charges that he mishandled classified documents upon exiting the White House (Aljazeera News)


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