Author: hei




NSX DAILY UPDATE (16 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 1,189,808.00 39,543,578.31100.00%
ETFs -   -  0.00%
Total 1,189,808.00 39,543,578.31100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 39,543,578.31 worth of shares was traded on the NSX on Thursday with about N$ 4,369,602 worth of shares belonging to Shoprite Holdings and N$ 68,000 worth of Namibia Asset Management Limited on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

  • The JSE stock market experienced a sell-off, prompting investors to seek stable companies with lower volatility to hedge their risks. As a result, Shoprite's shares increased by 1.0%, with N$4 million worth of shares being traded in the market
  • Although Namibia Asset Management shares were the most actively traded on the domestic market, their share price performance remained the same.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8213.820.00%
First Rand NamibiaFNB34.0634.060.00%
Standard Bank NamibiaSNO5.215.20-0.19%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.603.600.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

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 plcANM562.28553.71-1.52%
B2Gold CorporationB2G63.6064.691.71%
Oceana Group LimitedOCG69.0068.96-0.06%
Mediclinic International PlcMEP109.90110.570.61%
TruworthsTRW52.9952.70-0.55%
Nedbank Group LimitedNBK213.62214.260.30%
Standard Bank GroupSNB166.25168.301.23%
Shoprite HoldingsSRH213.72215.790.97%
FirstRand LimitedFST62.4761.93-0.86%
Momentum Metropolitan HoldingsMMT17.4017.00-2.30%
Old Mutual LtdOMM11.2711.14-1.15%
Sanlam LimitedSLA54.3054.430.24%
Santam LimitedSNM275.00277.881.05%
Vukile Property Fund LimitedVKN13.3013.370.53%
Investec LimitedIVD98.07100.582.56%
PSG Konsult LimitedKFS12.0011.95-0.42%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD321.37329.562.55%
New Gold Palladium ETFNGNPLD264.41255.99-3.18%
New Gold Platinum ETF NNGNPLT172.17169.40-1.61%
New Funds S&P NAM BondNFNAMA18.2318.21-0.11%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.34
EUR/NAD19.52
GBP/NAD22.27
EUR/GBP0.87
EUR/USD1.06
GBP/USD1.21
AUD/USD0.67
USD/JPY133.12
Commodities @ 07:00 
Gold1,933.95
Silver22.08
Platinum991.95
Palladium1,443.03
WTI69.03
Brent75.42

Table 5: Exchange Rates and Commodities 


Local News

President Hage Geingob yesterday stopped short of declaring a state of emergency over unemployment, but startlingly stated that hordes of frustrated unemployed youth may turn to ‘terrorism’ for survival. (Sun Newspaper)

Trade and industrialization minister Lucia Iipumbu says Namibia has recognized that achieving its global warming targets and commitments requires sectoral approaches. Thus, a National Cooling Strategy has been drafted and will soon be submitted to parliament for endorsement (New Era Newspaper)

PRIME minister Saara Kuugongelwa-Amadhila has sounded concerned over Namibia's increasing debt, which now stands at over 70% of the gross domestic product. (The Namibian Newspaper)

Sub-Sahara News

The new round of public sector wage negotiations could be settled as soon as next week should both government and the majority of unions each move by 0.5% at the next meeting of the Public Sector Coordinating Bargaining Chamber. (News24)

South Africa’s rand bounced on Thursday as the dollar eased and some calm was restored in markets after an emergency lifeline for embattled lender Credit Suisse by Swiss authorities, ahead of a key European Central Bank (ECB) meeting later in the day.. (CNBC Africa)

Women health workers are more than two-thirds of the health workforce and represent 90% of the world's frontline health workers, yet hold less than a quarter of senior leadership roles - a situation that is unfair and a significant risk for global health security. (All Africa News)

International News

Multi-billion dollar lifelines for troubled U.S. and European banks shored up investor confidence on Friday and bolstered sentiment in battered stocks, although concerns now centre on whether a global financial crisis has been fully averted. (Reuters)

European stocks tumbled on Thursday as investors assessed the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital (RTT News)

As Russian offensive power seemed to peter out across Ukraine’s eastern front, mercenary forces from Russia’s Wagner Group doubled down on attacks against the Ukrainian defenders of Bakhmut city in the Donetsk region during the 55th week of the war. (Aljazeera News)

 Vehicle Sales Report, February 2023

Executive summary

  • The market remains surprisingly resilient, continuing to outperform expectations in the face of myriad challenges that include rising interest rates, high fuel prices, and a generally weak economy
  • New vehicle sales increased to 1103 vehicles in February 2023, up from 798 in January 2023. This equated to a 38.2% monthly increase. (figure 1)
  • The 211-vehicle sales increase in commercial vehicle sales drove the month-on-month increase.
  • An increase in new vehicle sales was primarily driven by strong market sales of commercial vehicles.
  • A total of 1901 vehicles were sold during the first two months of 2023

Analysis

  • On an annual basis, new vehicle sales increased by 24.9%, (figure 2). This could be attributed to increased consumer confidence in the face of a confluence of factors that influenced credit demand negatively.
  • Light commercial vehicle sales increased by 65.3% on a monthly basis. This could be due to increased light business activity.
  • Medium commercial vehicle sales grew to 25 in February 2023, up from 12 in January 2023. This could be influenced by an increase in construction and mining-related activities, as well as increased demand for raw material transportation.
  • Passenger vehicle sales increased by 19.4% between January and February 2023 as a result of increased consumer sentiment. (table 1)

Table 1:

MarketJan-23Feb-23Monthly unit changeMonthly % change
Passenger vehicles4685599119.4
Light commercial vehicles29448619265.3
Medium commercial vehicles sales122513108.3
Heavy commercial vehicle sales286300.0
Extra heavy commercial vehicle sales2024420.0
Bus21-1-50.0
Source: Lightstone Auto & HEI RESEARCH

Figure 1: Monthly Vehicle Sales (January 2022 – January 2023), Namibia

Source: Lightstone Auto & HEI RESEARCH

Figure 2: Year on Year, Vehicle sales growth (February 2022- February 2023), Namibia

Source: Lightstone Auto & HEI RESEARCH

Outlook

We anticipate the new-vehicle sales market to continue its recovery as consumer confidence rises in the wake of slowly improving economic conditions. However, the stark reality of rising debt costs will continue to exert pressure on how well new vehicle sales will fare in 2023.

NSX DAILY UPDATES (15 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 1,440,351.00 24,023,466.1799.23%
ETFs 863.00 187,369.000.77%
Total 1,441,214.00 24,210,835.17100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 24,023,466.17 worth of shares was traded on the NSX on Wednesday with about N$ 2,529,375 worth of shares belonging to Anglo-American plc and N$ 34,877 worth of SBN Holdings Ltd on the home front. ETFs worth N$187,369.00 were traded on Wednesday.

HEI Market Commentary

From the trading activity that took place:

  • Anglo-American shares fell below the 600-price level, as the JSE stock market sell-off persist over 3 consecutive day
  • SBN Holdings' stock price rose by 0.2% as the company's shares were traded on the domestic exchange.
  • New Gold Issuer Ltd NM and New Gold Platinum ETF N were subscribed  by market participants
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8113.820.07%
First Rand NamibiaFNB34.0634.060.00%
Standard Bank NamibiaSNO5.205.210.19%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.603.600.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

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 plcANM605.22562.28-7.09%
B2Gold CorporationB2G63.7163.60-0.17%
Oceana Group LimitedOCG68.3469.000.97%
Mediclinic International PlcMEP109.25109.900.59%
TruworthsTRW54.9652.99-3.58%
Nedbank Group LimitedNBK219.17213.62-2.53%
Standard Bank GroupSNB169.99166.25-2.20%
Shoprite HoldingsSRH217.07213.72-1.54%
FirstRand LimitedFST64.3162.47-2.86%
Momentum Metropolitan HoldingsMMT17.8617.40-2.58%
Old Mutual LtdOMM11.8711.27-5.05%
Sanlam LimitedSLA56.8654.30-4.50%
Santam LimitedSNM288.00275.00-4.51%
Vukile Property Fund LimitedVKN13.5213.30-1.63%
Investec LimitedIVD101.9898.07-3.83%
PSG Konsult LimitedKFS12.0512.00-0.41%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD321.37329.562.55%
New Gold Palladium ETFNGNPLD264.41255.99-3.18%
New Gold Platinum ETF NNGNPLT172.17169.40-1.61%
New Funds S&P NAM BondNFNAMA18.2318.21-0.11%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.14
EUR/NAD19.52
GBP/NAD22.24
EUR/GBP0.87
EUR/USD1.06
GBP/USD1.20
AUD/USD0.66
USD/JPY132.91
Commodities @ 07:00 
Gold1,919.20
Silver21.86
Platinum969.00
Palladium1,462.78
WTI68.43
Brent74.64

Table 5: Exchange Rates and Commodities 


Local News

The ministry of home affairs has launched an online application platform for passports and six-month work visas. (Sun Newspaper)

Given the below-average rainfall since the beginning of this year’s rainy season, the country faces a substantial risk of low water supply and poor grazing conditions. This represents a major risk to the agriculture sector, rangeland recovery, and livestock production. (New Era Newspaper)

//Kharas governor Aletha Frederick says governments in the Southern African Development Community (SADC) region should cooperate to establish needed regulatory frameworks and infrastructure to provide assurance for cross-border energy trade and to enhance regional connectivity. (The Namibian Newspaper)

Sub-Sahara News

While some Joburg residents are expressing their anger over a lack of service delivery by tagging the ANC with spray-painted pothole graffiti, two competing insurance companies are putting their own brand while fixing them (News24)

Nigeria launched a $672 million fund on Tuesday to support tech and creative sectors for young investors who struggle to raise capital in Africa’s largest economy. (CNBC Africa)

United Nations torture prevention experts have called on South Africa to speed up the establishment of a national torture prevention watchdog to regularly examine prisons, detention centres, and other facilities. (All Africa News)

International News

Credit Suisse (CSGN.S) on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis. (Reuters)

European stocks traded lower on Thursday after Federal Reserve Chair Jerome Powell reiterated his warning to lawmakers that the central bank may raise interest rates higher than previously anticipated. (RTT News)

North Korea has fired an intercontinental ballistic missile into its eastern waters, just hours before South Korea’s president was due to fly to Japan for the first summit between the two countries in years, with the situation in nuclear-armed North Korea a key concern. (Aljazeera News)

INFLATION REPORT, FEBRUARY 2023

Executive summary

  • The annual inflation rate for February 2023 increased to 7.2%, up from 4.5% recorded for the same period last year. (Figure 1)
  • The two major drivers of an increase in the annual inflation rate were the food & non-alcoholic beverages, and miscellaneous goods and services categories. (Figure 2)
  • On a monthly basis, Namibia recorded an inflation rate of 0.4% in February 2023 compared to 1.1% recorded in January 2023

Analysis

  • Food and non-alcoholic beverages which accounts for 16.5% of the NCPI basket annual inflation increased to 14% during the month of February 2023 compared to 5.4% recorded during February 2022. The increase in the food and non-alcoholic beverages component was mainly driven by an increase in the price levels of fruit, bread, and cereal accounting for 26.8% and 22% respectively
  • The rise in food prices was attributed to the hike in the prices of various products, such as maize meal, flour, pasta, among others, by Namib Mills on November 14, 2022. For instance, a 10kg bag of maize meal that previously cost around N$110 now costs approximately N$150.
  • In February 2023, the annual inflation rate for the miscellaneous goods and services category, comprising 5.4% of the consumer basket, rose by 7.0%, which is considerably higher than the 0.9% recorded in February 2022. The surge in miscellaneous goods and services can be attributed to the heightened demand for new policies in the general liability and riot/strike classes of insurance, which led to the implementation of new policies.

Figure 1: Annual Inflation Rate (February 2022 – February 2023)

Source: NSA & HEI Research

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

Source: NSA & HEI Research

Outlook

  • The persistent upsurge in food prices, particularly for essential commodities such as Giffen goods that have no close substitutes is a significant threat to food security and household cost of living. This is because inflation has continuously eroded the purchasing power of consumers
  • We anticipate inflation to remain elevated in the short term as a result of supply-side factors that continue to weigh on the prices of goods.

NSX DAILY UPDATE (14 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 952,972.00 22,960,744.10100.00%
ETFs -   -  0.00%
Total 952,972.00 22,960,744.10100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 22,960,744.10 worth of shares was traded on the NSX on Tuesday with about N$ 2,529,375 worth of shares belonging to Anglo-American plc and N$ 34,877 worth of Letshego Holdings (Namibia) Ltd home front. No ETFs were traded on Tuesday.

HEI Market Commentary

From the trading activity that took place:

  • After a market sell-off, the share price of Anglo-American has been decreasing, and the company's stock price has dropped by 1.0%
  • Letshego Holdings shares were traded on the domestic exchange, but there was no movement in the company's stock price.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8113.810.00%
First Rand NamibiaFNB34.0634.060.00%
Standard Bank NamibiaSNO5.205.200.00%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.603.600.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

Table 2: Primary listed Trades


­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM611.26605.22-0.99%
B2Gold CorporationB2G60.8363.714.73%
Oceana Group LimitedOCG67.8768.340.69%
Mediclinic International PlcMEP109.33109.25-0.07%
TruworthsTRW55.5454.96-1.04%
Nedbank Group LimitedNBK220.94219.17-0.80%
Standard Bank GroupSNB170.48169.99-0.29%
Shoprite HoldingsSRH214.93217.071.00%
FirstRand LimitedFST65.1664.31-1.30%
Momentum Metropolitan HoldingsMMT17.9817.86-0.67%
Old Mutual LtdOMM11.6811.871.63%
Sanlam LimitedSLA57.0656.86-0.35%
Santam LimitedSNM297.28288.00-3.12%
Vukile Property Fund LimitedVKN13.5413.52-0.15%
Investec LimitedIVD103.43101.98-1.40%
PSG Konsult LimitedKFS12.1212.05-0.58%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD324.66321.37-1.01%
New Gold Palladium ETFNGNPLD258.36264.412.34%
New Gold Platinum ETF NNGNPLT175.33172.17-1.80%
New Funds S&P NAM BondNFNAMA18.2318.230.00%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.13
EUR/NAD19.48
GBP/NAD22.05
EUR/GBP0.88
EUR/USD1.07
GBP/USD1.21
AUD/USD0.66
USD/JPY134.57
Commodities @ 07:00 
Gold1,905.95
Silver21.83
Platinum991.45
Palladium1,498.03
WTI72.40
Brent78.52

Table 5: Exchange Rates and Commodities 


Local News

Axed fishermen employed on ArcticNam Fishing’s Heinaste marine vessel are now gunning for the liquidation of the company after it failed to honour a N$1.82 million settlement by the Walvis Bay Labour Court. (Sun Newspaper)

Fisheries minister Derek Klazen says there are no new jobs in the fishing industry unless new factories are built or new vessels are bought by industry players. Klazen was speaking at the official opening of the Merlus Group’s new factory, known as Merlus Cormorant Fishing, at Walvis Bay on Friday. (New Era Newspaper)

The budgets allocated to the two state-funded media houses New Era Publication Corporation (NEPC) and the Namibia Press Agency (Nampa) have more than doubled this year. (The Namibian Newspaper)

Sub-Sahara News

Oudtshoorn in the Western Cape tops the list of 15 least polluted regional cities in Africa, a new report shows. However, Thabazimbi, in Limpopo, is among the top 15 regional cities in the continent which are most polluted. (News24)

Tropical Storm Freddy, one of the most powerful storms ever to hit the southern hemisphere, has killed 190 people in Malawi after ripping through southern Africa for the second time in a month, Malawi’s disaster management agency said on Tuesday. (CNBC Africa)

Newly appointed Minister of Public Service and Administration Minister Noxolo Kiviet allegedly received an honours and a master's degree from Fort Hare University without having a bachelor's degree, (All Africa News)

International News

Facebook-parent Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. (Reuters)

Asian stocks tumbled on Wednesday as hawkish comments from Fed Chair Jerome Powell on the first day of his semiannual two-day testimony before Congress stoked concerns about interest rates being hiked by 50 basis points at the March FOMC meeting (RTT News)

Tensions have flared in Pakistan’s eastern city of Lahore after police arrived outside the home of former Prime Minister Imran Khan to arrest him for failing to appear in court on Monday over corruption charges.. (Aljazeera News)

NSX DAILY UPDATE (13 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 801,290.00 53,659,219.42100.00%
ETFs -   -  0.00%
Total 801,290.00 53,659,219.42100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 53,659,219.42 worth of shares was traded on the NSX on Monday with about N$ 3,151,830 worth of shares belonging to Anglo-American plc and N$ 5,980 worth of SBN Holdings Ltd on the home front. No ETFs were traded on Monday.

HEI Market Commentary

From the trading activity that took place:

  • Anglo-American's stock price continues heading on a downward trajectory following a market sell-off, resulting in a decline in the company’s share price by 1.3%
  • The domestic exchange facilitated the trading of SBN Holdings’ shares, resulting in no change in the company's stock price
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8113.810.00%
First Rand NamibiaFNB34.0634.060.00%
Standard Bank NamibiaSNO5.205.200.00%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.533.601.98%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

Table 2: Primary listed Trades


­­

NameSouth African Dual-Listed TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Anglo-American plcANM619.60611.26-1.35%
B2Gold CorporationB2G60.3760.830.76%
Oceana Group LimitedOCG67.9467.87-0.10%
Mediclinic International PlcMEP109.50109.33-0.16%
TruworthsTRW56.4455.54-1.59%
Nedbank Group LimitedNBK225.70220.94-2.11%
Standard Bank GroupSNB175.68170.48-2.96%
Shoprite HoldingsSRH217.50214.93-1.18%
FirstRand LimitedFST67.1865.16-3.01%
Momentum Metropolitan HoldingsMMT18.5317.98-2.97%
Old Mutual LtdOMM12.0511.68-3.07%
Sanlam LimitedSLA59.2757.06-3.73%
Santam LimitedSNM301.22297.28-1.31%
Vukile Property Fund LimitedVKN13.5513.54-0.07%
Investec LimitedIVD109.06103.43-5.16%
PSG Konsult LimitedKFS12.2512.12-1.06%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD316.28324.662.65%
New Gold Palladium ETFNGNPLD245.31258.365.32%
New Gold Platinum ETF NNGNPLT167.43175.334.72%
New Funds S&P NAM BondNFNAMA18.1418.230.50%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.23
EUR/NAD19.52
GBP/NAD22.17
EUR/GBP0.88
EUR/USD1.07
GBP/USD1.21
AUD/USD0.66
USD/JPY133.80
Commodities @ 07:00 
Gold1,908.40
Silver21.76
Platinum999.45
Palladium1,458.00
WTI74.00
Brent79.92

Table 5: Exchange Rates and Commodities 


Local News

The Namibian legal assistant, Alex Kamwi, will appear in the Supreme Court tomorrow for his appeal against the High Court's decision that he cannot be admitted as a legal practitioner. His application in the High Court was opposed by the Law Society of Namibia (LSN) because he allegedly did not meet the requirements for admission and authorization to practice. (Sun Newspaper)

Fisheries minister Derek Klazen says there are no new jobs in the fishing industry unless new factories are built or new vessels are bought by industry players. Klazen was speaking at the official opening of the Merlus Group’s new factory, known as Merlus Cormorant Fishing, at Walvis Bay on Friday. (New Era Newspaper)

The budgets allocated to the two state-funded media houses New Era Publication Corporation (NEPC) and the Namibia Press Agency (Nampa) have more than doubled this year. (The Namibian Newspaper)

Sub-Sahara News

SA's largest poultry producer, Astral Foods, said on Monday its shortage of smaller-sized chicken portions for the fast-food restaurant sector had worsened since December amid continuing load shedding (News24)

First Republic Bank led a decline in bank shares Monday that came even after regulators’ extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Bank and offer additional funding to other troubled institutions. (CNBC Africa)

The uptake and continuation of tuberculosis (TB) preventive therapy were much higher when it was provided through a community-based model compared to the standard clinic-based model, a study conducted in KwaZulu-Natal found. The findings were presented at the recent Conference for Retroviruses and Opportunistic Infections in Seattle, USA. (All Africa News)

International News

Shockwaves from the collapse of Silicon Valley Bank (SIVB.O) pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompted a rethink on the interest rate outlook. (Reuters)

Asian stocks ended mixed on Tuesday, the dollar treaded water and bond yields eased amid bets that Fed Chair Jerome Powell will sound less hawkish during two-day testimony before Congress beginning later in the day. (RTT News)

North Korea has fired two short-range ballistic missiles into waters off its east coast, its second show of strength this week, as South Korea and the United States conduct their biggest military exercises in years. (Aljazeera News)

NSX DAILY UPDATE (10 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 642,733.00 16,384,497.66100.00%
ETFs -   -  0.00%
Total 642,733.00 16,384,497.66100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 16,384,497.66 worth of shares was traded on the NSX on Friday with about N$ 495,290 worth of shares belonging to Anglo-American plc and N$145,879 worth of FirstRand Namibia Ltd on the home front. No ETFs were traded on Friday.

HEI Market Commentary

From the trading activity that took place:

  • Anglo-American's stock price has experienced a downturn in the general market following the transactions made by Directors/PDMRs which was approved by the Company’s Remuneration Committee. This resulted in the decline of the company’s share price by 1.5%
  • The domestic exchange facilitated the trading of FirstRand Namibia’s shares, resulting in an increase of 0.1% in the company's stock price
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8113.810.00%
First Rand NamibiaFNB34.0234.060.12%
Standard Bank NamibiaSNO5.205.200.00%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.533.530.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

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 plcANM629.30619.60-1.54%
B2Gold CorporationB2G61.4360.37-1.73%
Oceana Group LimitedOCG69.7167.94-2.54%
Mediclinic International PlcMEP110.00109.50-0.45%
TruworthsTRW57.7556.44-2.27%
Nedbank Group LimitedNBK227.30225.70-0.70%
Standard Bank GroupSNB179.82175.68-2.30%
Shoprite HoldingsSRH218.73217.50-0.56%
FirstRand LimitedFST68.0467.18-1.26%
Momentum Metropolitan HoldingsMMT19.0018.53-2.47%
Old Mutual LtdOMM12.2712.05-1.79%
Sanlam LimitedSLA58.3959.271.51%
Santam LimitedSNM302.00301.22-0.26%
Vukile Property Fund LimitedVKN13.7313.55-1.31%
Investec LimitedIVD112.70109.06-3.23%
PSG Konsult LimitedKFS12.4212.25-1.37%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD317.16316.28-0.28%
New Gold Palladium ETFNGNPLD246.68245.31-0.56%
New Gold Platinum ETF NNGNPLT171.71167.43-2.49%
New Funds S&P NAM BondNFNAMA18.1118.140.17%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.20
EUR/NAD19.52
GBP/NAD22.06
EUR/GBP0.88
EUR/USD1.07
GBP/USD1.21
AUD/USD0.66
USD/JPY134.04
Commodities @ 07:00 
Gold1,885.65
Silver20.81
Platinum970.90
Palladium1,402.28
WTI77.04
Brent83.14

Table 5: Exchange Rates and Commodities 


Local News

For the period ending 31 December 2022, locally-listed Oryx Properties Limited maintained its positive momentum in financial and operational performance, resulting in rental income increasing by 10.8% (Dec 2021: 2.9%) to N$175 million (Dec 2021: N$158 million), while containing vacancies to a minimum and achieving 6.1% (Dec 2021: 5.9%). (Sun Newspaper)

The Motor Vehicle Accident Fund wants to proceed with a High Court judgment regarding an investment tender, despite the fact that the case has now been taken to the Supreme Court. (New Era Newspaper)

Many have been left shell shocked after 2,000 unemployed youth from Windhoek flocked to a local hang-spot to submit their curricula vitae (CVs) to be considered for 16 advertised positions. (The Namibian Newspaper)

Sub-Sahara News

As soon as the power goes off and the traffic lights are out, homeless men sporting bright-green high-visibility vests emerge apparently from nowhere and start directing the cars at a busy Johannesburg intersection. (News24)

Tropical storm Freddy is due to hit the coast of Southern Africa again late Friday or early Saturday, after killing at least 27 people in Mozambique and Madagascar since it first made landfall last month. (CNBC Africa)

As former leaders of the Press Union of Liberia, we issue this open letter appealing for collective action to prevent rigging of the October 2023 presidential and general elections and avert violence in Liberia. With our country facing increased instability, we call on all parties and candidates to come together and devise a mechanism to ensure free and fair democratic elections. (All Africa News)

International News

Nuclear-armed North Korea test-fired two strategic cruise missiles from a submarine on Sunday, state news agency KCNA said on Monday, just as U.S.-South Korea military drills were due to begin. (Reuters)

European stocks were broadly higher on Monday as investors awaited a testimony by Fed Chair Jerome Powell and the U.S. jobs report this week for further clarity on the rating outlook (RTT News)

Ukraine’s President Volodymyr Zelenskyy said more than 1,100 Russian soldiers had been killed in the past few days fighting along the Bakhmut section of the front line (Aljazeera News)

NSX DAILY UPDATES (09 MARCH 2023)

NSX Trades Traded Volume (No. Shares)Monetary Amount (N$)Trading Contribution (%)
Overall 349,587.00 9,125,345.47100.00%
ETFs -   -  0.00%
Total 349,587.00 9,125,345.47100.00%

Table 1: NSX Trades


NSX Activities

A total of N$ 9,125,345.47 worth of shares was traded on the NSX on Thursday with about N$ 504,258 worth of shares belonging to Anglo-American plc and N$ 9,912 worth of Mobile Telecommunications Limited on the home front. No ETFs were traded on Thursday.

HEI Market Commentary

From the trading activity that took place:

  • Anglo-American's stock price has experienced a downturn in the general market following the disclosure of De Beers' second sales cycle of 2023, which reported a decline in the value of rough diamond sales.
  • The domestic exchange facilitated the trading of Mobile Telecommunications' shares, resulting in a neutral effect on the company's stock price.
NameNSX Local TickerPrice Previous Close 'N$Price End of Day 'N$Daily Change %
Namibian BreweriesNBS46.0246.020.00%
Nictus HoldingsNHL1.901.900.00%
CapricornCGP13.8113.810.00%
First Rand NamibiaFNB34.0234.020.00%
Standard Bank NamibiaSNO5.205.200.00%
Oryx LimitedORY11.4911.490.00%
Letshego  LHN3.533.530.00%
Namibia Asset ManagementNAM0.680.680.00%
StimulusSILP127.90127.900.00%
Paratus Namibia Holdings LtdPNH12.8412.840.00%
Mobile Telecommunication CompanyMOC7.087.080.00%
Alpha Namibia Industries Renewable Power LimitedANE9.009.000.00%

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 plcANM629.70629.30-0.06%
B2Gold CorporationB2G62.0361.43-0.97%
Oceana Group LimitedOCG71.4369.71-2.41%
Mediclinic International PlcMEP109.00110.000.92%
TruworthsTRW59.4557.75-2.86%
Nedbank Group LimitedNBK222.99227.301.93%
Standard Bank GroupSNB178.64179.820.66%
Shoprite HoldingsSRH217.93218.730.37%
FirstRand LimitedFST66.2168.042.76%
Momentum Metropolitan HoldingsMMT19.1819.00-0.94%
Old Mutual LtdOMM12.1612.270.90%
Sanlam LimitedSLA58.3858.390.02%
Santam LimitedSNM301.36302.000.21%
Vukile Property Fund LimitedVKN13.7013.730.22%
Investec LimitedIVD111.42112.701.15%
PSG Konsult LimitedKFS12.6012.42-1.43%

Table 3: Dual Listed Trades


Name ETFsPrice Previous Close 'N$Price End of Day 'N$Daily Change %
New Gold Issuer Ltd NMNGNGLD314.10317.160.97%
New Gold Palladium ETFNGNPLD250.76246.68-1.63%
New Gold Platinum ETF NNGNPLT168.35171.712.00%
New Funds S&P NAM BondNFNAMA18.1418.11-0.17%

Table 4: ETFs


Exchange Rates @ 07:00 
USD/NAD18.52
EUR/NAD19.62
GBP/NAD22.09
EUR/GBP0.88
EUR/USD1.05
GBP/USD1.19
AUD/USD0.65
USD/JPY136.58
Commodities @ 07:00 
Gold1,834.05
Silver20.00
Platinum936.60
Palladium1,375.78
WTI75.14
Brent81.13

Table 5: Exchange Rates and Commodities 


Local News

Commercial public entities are expected to receive N$425.4 million in allocations from the budget following its tabling last month by finance minister Iipumbu Shiimi.. (Sun Newspaper)

Two unions, the Namibia National Teachers Union and Namibia Public Workers Union, proposed salary and other benefit increases for civil servants for the 2023/24 and 2024/25 financial years. (New Era Newspaper)

Social protection programs are necessitated by the escalation in food and commodity prices, which affect access to food for vulnerable communities. (The Namibian Newspaper)

Sub-Sahara News

A former analyst at the Public Investment Corporation has told the high court the group's former head, Dan Matjila, acted like a "dictator" and bullied staff. Matjila has in the past denied similar claims (News24)

Nigeria’s electoral commission has postponed by a week Saturday’s elections to choose new governors, saying it needed more time to reconfigure electronic machines that are at the center of last month’s disputed presidential vote. (CNBC Africa)

Eight years after journalist and pro-democracy activist, Itai Dzamara went missing authorities are yet to give a progress report on their investigation efforts to ensure his family receives justice, truth, and reparation. (All Africa News)

International News

Russia's first missile blitz on Ukrainian cities in weeks was met with defiance and disgust over the targeting of civilians, while Ukrainian forces defending the eastern town of Bakhmut continued to thwart Russian attempts to break through. (Reuters)

European stocks look set to open higher on Friday, as comments from a Federal Reserve official raised hopes that the Fed with stick with a 25-bps rate hike at its next meeting in March. (RTT News)

Malaysia’s former Prime Minister Muhyiddin Yassin has been charged with abuse of power and money laundering in connection with the awarding of government contracts during the COVID-19 pandemic.. (Aljazeera News)


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