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NSX DAILY UPDATE (10 JANUARY 2023)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	620,317.00	55,903,180.32	100.00%
ETFs	-	-	0.00%
Total	620,317.00	55,903,180.32	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 55,903,180.32 worth of shares was traded on the NSX on Tuesday with about N$ 7,065,186 worth of shares belonging to Anglo-American plc and N$ 17,500 from Letshego Holdings Ltd on the home front. No ETFs were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

Anglo-American plc performance on the overall bourse increased by decreased as investors rearrange their portfolios based on volatility experienced in the resource sector
Letshego Holdings Ltd shares were traded by market participants, with an increase in share price as investor sentiments remain positive based on prior company performance

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.00	46.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.03	13.03	0.00%
First Rand Namibia	FNB	33.00	33.00	0.00%
Standard Bank Namibia	SNO	4.42	4.42	0.00%
Oryx Limited	ORY	11.50	11.50	0.00%
Letshego	LHN	3.00	3.50	16.67%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	13.20	13.20	0.00%
Mobile Telecommunication Company	MOC	7.04	7.04	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

Name	South African Dual Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	730.43	720.00	-1.43%
B2Gold Corporation	B2G	66.86	65.04	-2.72%
Oceana Group Limited	OCG	66.46	67.57	1.67%
Mediclinic International Plc	MEP	102.51	103.04	0.52%
Truworths	TRW	59.40	60.53	1.90%
Nedbank Group Limited	NBK	214.95	213.65	-0.60%
Standard Bank Group	SNB	171.25	169.78	-0.86%
Shoprite Holdings	SRH	235.54	238.80	1.38%
FirstRand Limited	FST	64.11	63.02	-1.70%
Momentum Metropolitan Holdings	MMT	18.14	18.34	1.10%
Old Mutual Ltd	OMM	11.32	11.28	-0.35%
Sanlam Limited	SLA	52.96	52.34	-1.17%
Santam Limited	SNM	256.67	259.03	0.92%
Vukile Property Fund Limited	VKN	13.03	13.21	1.38%
Investec Limited	IVD	108.84	109.72	0.81%
PSG Konsult Limited	KFS	12.20	12.26	0.49%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	296.58	298.41	0.62%
New Gold Palladium ETF	NGNPLD	293.15	295.49	0.80%
New Gold Platinum ETF N	NGNPLT	178.55	177.38	-0.66%
New Funds S&P NAM Bond	NFNAMA	18.20	18.15	-0.27%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	16.99
EUR/NAD	18.27
GBP/NAD	20.68
EUR/GBP	0.88
EUR/USD	1.07
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	132.94
Commodities @ 08:00
Gold	1,887.10
Silver	24.01
Platinum	1,097.65
Palladium	1,782.28
WTI	74.46
Brent	79.47

Table 5: Exchange Rates and Commodities

Local News

World food prices fell for a ninth month in a row in December, though they hit their highest level on record for the full year in 2022. (Sun Newspaper)

Climate change is likely to have huge implications for Namibian society and its economy over the short, medium, and long-term, an economist with the Institute for Public Policy Research (IPPR) Robin Sherbourne said. (New Era Newspaper)

Finance spokesperson Wilson Shikoto, during a Desert Radio interview, said underprivileged women and girls typically do not use tampons, hence the decision to maintain a 15% value-added tax (VAT) on these items. (The Namibian)

Sub-Sahara News

South Africa has entered a critical phase of revamping its sole nuclear plant and needs it to run according to plan to avoid deepening power cuts that are already at a record and wreaking havoc on the economy. (News24)

Ghana is set to request on Tuesday to restructure its debt with official bilateral creditors under the common framework platform supported by the Group of 20 major economies. (CNBC Africa)

Uganda is waiting to be declared Ebola-free on Wednesday, January 11 after going 42 days without reporting a new case. (All Africa News)

International News

The battle for the eastern Ukrainian salt mining town raged in sub-zero temperatures on Wednesday, as Russia's mercenary Wagner Group claimed it had taken control, with its fighters training their fire on a pocket of resistance in the town Centre. (Reuters)

European stocks rose for a third day running on Wednesday, even as U.K. markets underperformed amid a decline in commodity-related stocks (RTT News)

Ukraine says it is strengthening its forces around Bakhmut in the eastern Donbas region and repelling constant attacks there by the Russian mercenary group Wagner. (Aljazeera News)

Building Plans Approved Report, Windhoek: November 2022

Executive summary

The City of Windhoek approved a total of 204 building plans valued at N$ 134,924,618 in November 2022. See figure 1
Out of 204 building plans approved, 148 were additions plans, 38 were house plans, 13 were wall plans, and 5 were commercial plans
The number of building plans approved declined by 27% in relation to the previous month. See Figure 2
During the month under review, a total number of 89 buildings were completed for Windhoek at the value of N$ 52,651,886
The total buildings completed increased by 36% when compared to the buildings completed in October 2022

Analysis

On an annual basis, the number of building plans approved for Windhoek declined by 22%
For the month under review, the highest number of building plans approved were from Windhoek suburbs with a total of 34 plans (25 addition plans, 6 house plans, 3 commercial plans) valued at N$ 28,728,200
Katutura had the second-highest number of building plans approved with a total of 23 plans valued at N$ 4,339,906

Outlook

The decline in the number of building plans approved for Windhoek could be ascribed to low consumer confidence to uptake credit for construction activities due to high-interest rates
We anticipate the construction industry to remain subdued for December 2022 due to the closure of the majority of construction companies for the holiday.

Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (November 2021- November 2022)

Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (November 2021- November 2022)

Hospitality Statistics: National Occupancy rates for Namibia November 2022

The National occupancy rate for November stood at 45.8%. This was a decline from 55.3% which was recorded for October 2022. (See figure 1 below). According to the Hospitality Association of Namibia, this was an increase of over 10% when compared to 2021, a clear indication of the continued tourism recovery in Namibia, which in November reached almost 80% of normality (pre-pandemic levels).

The outlook for the tourism sector is positive, especially for the month of December. This is augmented by the much anticipated high demand for accommodation services influenced by the festive season.

Figure 1: National Occupancy rates vs. HKIA arrivals, Namibia (November 2021- November 2022)

Hospitality Statistics: National Occupancy rates for Namibia September 2022

The National occupancy rate for September declined to 52.9 % from 61.2% which was recorded for August 2022. This resulted in a monthly decline of 8.3%. (See figure 1 below). According to the Hospitality Association of Namibia, September’s national occupancy was slightly lower compared to that of the peak tourism month August the rate was still twice as high as in September 2021, which indicates that tourism recovery has doubled since 2021.

All in all, a very positive and encouraging result to see the Namibian tourism recovery advance to this level in this short time span and proof that most of Namibia’s source markets are back in full swing, Central Europe remains the strongest market with over 66% of tourists, of which over 35% stem from Germany, Austria, and Switzerland, but the French and Italian markets were also prominent in both August and September.

The US market also seems to have recovered well, making up over 4% of the occupancy in September, almost double what it was in 2021.

The recovery of the tourism sector continues to be on the right track, this is reflected by the continuous positive national occupancy rates. The outlook for the sector remains positive due to positive trends reflected in international arrivals and the demand for accommodation services.

Figure 1: National Occupancy rates vs. HKIA arrivals, Namibia (September 2021- September 2022)

Hospitality Statistics: National Occupancy rates for Namibia October 2022

The National occupancy rate for October 2022 increased to 55.3% from 52.9% recorded for September 2022. (See figure 1 below). According to the Hospitality Association of Namibia, this is a 60% increase when compared to 2021, and compared to the 69,8% occupancy experienced in October 2019, i.e. pre-pandemic, national occupancy is about 80% back to normal performance before the Covid-19 pandemic.

The European market continues to be Namibia's top tourism market, representing about 65% of all guests, from Scandinavia in the North to Spain in the South of Europe. In 2019, Europe represented some 60% of all occupants.

The outlook for the sector is positive due to positive sentiments reflected in international arrivals and the continuous high demand for accommodation services.

Figure 1: National Occupancy rates vs. HKIA arrivals, Namibia (October 2021- October 2022)

NSX DAILY UPDATE (09 JANUARY 2023)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	304,823.00	21,694,132.95	100.00%
ETFs	-	-	0.00%
Total	304,823.00	21,694,132.95	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 21,694,132.95 worth of shares was traded on the NSX on Monday with about N$ 3,801,275 worth of shares belonging to Anglo-American plc and N$ 1,145,100 from FirstRand Namibia Ltd on the home front. No ETFs were traded on Monday.

HEI Market Commentary

From the trading activity that took place:

Anglo-American plc performance on the overall bourse increased by 2.6% at closing as gold prices continues to rise by 20.09%.
FirstRand Namibia Ltd shares were traded by one market participant, with no change in share price a closing.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.00	46.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.03	13.03	0.00%
First Rand Namibia	FNB	33.00	33.00	0.00%
Standard Bank Namibia	SNO	4.41	4.42	0.23%
Oryx Limited	ORY	11.50	11.50	0.00%
Letshego	LHN	3.00	3.00	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	13.20	13.20	0.00%
Mobile Telecommunication Company	MOC	7.04	7.04	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

Name	South African Dual Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	712.16	730.43	2.57%
B2Gold Corporation	B2G	66.26	66.86	0.91%
Oceana Group Limited	OCG	64.81	66.46	2.55%
Mediclinic International Plc	MEP	102.42	102.51	0.09%
Truworths	TRW	57.60	59.40	3.13%
Nedbank Group Limited	NBK	209.14	214.95	2.78%
Standard Bank Group	SNB	166.76	171.25	2.69%
Shoprite Holdings	SRH	231.29	235.54	1.84%
FirstRand Limited	FST	62.18	64.11	3.10%
Momentum Metropolitan Holdings	MMT	17.78	18.14	2.02%
Old Mutual Ltd	OMM	10.99	11.32	3.00%
Sanlam Limited	SLA	51.08	52.96	3.68%
Santam Limited	SNM	255.69	256.67	0.38%
Vukile Property Fund Limited	VKN	12.95	13.03	0.62%
Investec Limited	IVD	107.79	108.84	0.97%
PSG Konsult Limited	KFS	12.20	12.20	0.00%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	297.37	296.58	-0.27%
New Gold Palladium ETF	NGNPLD	295.72	293.15	-0.87%
New Gold Platinum ETF N	NGNPLT	178.41	178.55	0.08%
New Funds S&P NAM Bond	NFNAMA	18.05	18.20	0.83%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	16.94
EUR/NAD	18.19
GBP/NAD	20.62
EUR/GBP	0.88
EUR/USD	1.04
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	131.94
Commodities @ 08:00
Gold	1,878.75
Silver	23.72
Platinum	1,092.50
Palladium	1,787.03
WTI	74.46
Brent	79.42

Table 5: Exchange Rates and Commodities

Local News

World food prices fell for a ninth month in a row in December, though they hit their highest level on record for the full year in 2022. (Sun Newspaper)

Onkoshi, one of Namibia Wildlife Resort’s best and most unique Etosha camps has been given a multi-million-dollar facelift, which is expected to be completed in February 2023 (New Era Newspaper)

National Fishing Corporation of Namibia (Fishcor) will no longer be paying forme4r Seaflower Pelagic Processing (SPP), which has now been renamed Princess Brand Processing. (The Namibian)

Sub-Sahara News

President Cyril Ramaphosa played down suggestions that an amendment to the central bank’s mandate is imminent while confirming that a possible change remains under discussion. (News24)

Kenya Airways KQNA.NR is experiencing flight disruptions due to delays in securing aircraft components required for maintenance, the carrier said late on Monday. (CNBC Africa)

The sale of electric cars is growing. Globally, some 2 million electric vehicles were sold in the first quarter of 2022 - 75% more than in the first three months of 2021. Most, though, are sold in high-income countries. (All Africa News)

International News

China's embassy in Seoul said on Tuesday it has stopped issuing short-term visas for visitors from South Korea, the first retaliatory move against countries imposing COVID-19 curbs on travelers from China, where the virus is spreading unchecked. (Reuters)

Asian stocks turned in a mixed performance on Tuesday as investors digested disappointing Chinese data and awaited a slew of U.S. economic data this week for clues on the outlook for the economy and interest rates. (RTT News)

Ukraine says it is strengthening its forces around Bakhmut in the eastern Donbas region and repelling constant attacks there by the Russian mercenary group Wagner. (Aljazeera News)

NSX DAILY UPDATE (29 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	81,063.00	2,488,997.13	100.00%
ETFs	-	-	0.00%
Total	81,063.00	2,488,997.13	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 2,488,997.13 worth of shares was traded on the NSX on Tuesday with about N$ 220,020 worth of shares belonging to Namibia Breweries on the home front. No ETFs were traded on Tuesday.

HEI Market Commentary

From the trading activity that took place:

Namibia Breweries shares were traded by market participants, resulting in no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.01	46.01	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.02	13.02	0.00%
First Rand Namibia	FNB	32.00	32.01	0.03%
Standard Bank Namibia	SNO	4.20	4.20	0.00%
Oryx Limited	ORY	10.24	10.24	0.00%
Letshego	LHN	3.02	3.02	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	13.00	13.00	0.00%
Mobile Telecommunication Company	MOC	7.02	7.02	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

Name	South African Dual Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	654.19	670.07	2.43%
B2Gold Corporation	B2G	60.08	57.66	-4.03%
Oceana Group Limited	OCG	59.00	59.27	0.46%
Mediclinic International Plc	MEP	102.00	100.47	-1.50%
Truworths	TRW	56.02	55.39	-1.12%
Nedbank Group Limited	NBK	228.24	225.01	-1.42%
Standard Bank Group	SNB	181.66	177.97	-2.03%
Shoprite Holdings	SRH	251.99	250.16	-0.73%
FirstRand Limited	FST	66.96	65.04	-2.87%
Momentum Metropolitan Holdings	MMT	18.04	17.78	-1.44%
Old Mutual Ltd	OMM	11.15	10.94	-1.88%
Sanlam Limited	SLA	55.75	54.91	-1.51%
Santam Limited	SNM	263.17	256.60	-2.50%
Vukile Property Fund Limited	VKN	14.60	14.41	-1.30%
Investec Limited	IVD	103.02	103.67	0.63%
PSG Konsult Limited	KFS	11.95	11.93	-0.17%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	279.18	277.98	-0.43%
New Gold Palladium ETF	NGNPLD	304.48	305.46	0.32%
New Gold Platinum ETF N	NGNPLT	163.68	164.08	0.24%
New Funds S&P NAM Bond	NFNAMA	17.61	17.63	0.11%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	16.96
EUR/NAD	17.56
GBP/NAD	20.32
EUR/GBP	0.86
EUR/USD	1.03
GBP/USD	1.21
AUD/USD	0.67
USD/JPY	138.47
Commodities @ 08:00
Gold	1,749.75
Silver	21.26
Platinum	989.20
Palladium	1,859.78
WTI	78.61
Brent	84.62

Table 5: Exchange Rates and Commodities

Local News

For the first time, Agra reported a net profit before tax of more than N$100 million for the financial year 2021/22. (Sun Newspaper)

The Namibia Trade Forum (NTF) and Development Bank recently launched an agreement in terms of which NTF will assist export-oriented enterprises and start-ups to apply for DBN finance (New Era Newspaper)

Economic analysts say it is still too early to comment on economic conditions should the newly elected Swapo vice president (The Namibian)

Sub-Sahara News

South African Airways planes, or, rather, aircraft once used by the airline, are returning to service – in countries such as Nigeria and Serbia. (News24)

South Africa’s long-awaited economic reforms have begun to improve the country’s outlook, but the age-old problems of political uncertainty and a failing power system still pose significant risks. (CNBC Africa)

Africa is a diverse continent with natural and human resources capable of creating inclusive growth and eradicating poverty. The continent now has the world's most extensive free trade area, with a market of 1.2 billion people. Africa seeks an entirely new economic growth path, capitalizing on the potential of its people and resources. (All Africa News)

International News

South Korea's military said it scrambled fighter jets as two Chinese and six Russian warplanes entered its air defense zone on Wednesday (Reuters)

Asian stocks ended mostly higher on Wednesday despite lingering worries about the Chinese economy and ahead of the release of the latest Fed meeting minutes later in the day. Regional gains were capped by rising COVID-19 infections in China. (RTT News)

Bill was standing with a group of people mostly in their 20s when a young woman started to lead the chanting. “Give me liberty, or give me death,” she shouted, her voice cracking at one point. (Aljazeera News)

MPC Outlook, November 2022

The Bank of Namibia Monetary Policy Committee (MPC) is scheduled to make its last announcement for 2022 on the interest rate decision tomorrow, the 30^th of November 2022.

The committee increased the repo rate by 75 basis points to 6.25% in their last meeting held in October 2022. The MPC was of the view that the rate will continue safeguarding the peg arrangement and thus anchoring inflation expectations while meeting the country’s international financial obligations. South Africa’s reserve bank increased its repo rate by 75 basis points in their last meeting held last week, on the 24^th of November 2022.

The Bank of Namibia MPC increased the repo rate by 250 basis points year to date while the South African Reserve Bank increased by 300 basis points

The repo rate currently stands at 6.25%. The Bank of Namibia’s MPC indicated that the repo rate remained supportive of credit demand in the near term, and they were of the view that hiking the rate will be more consistent with the current view of inflation risks.

Although inflation has shown signs of slowing down over the past 3 months ever since peaking at 7.3% in August 2022, the current inflation levels still remain significantly too high, with average annual inflation for 2022(January to October) standing at 5.9% compared to 3.6% recorded during the period in 2021.

Our outlook is that the MPC could increase the repo rate by 75 basis points following South Africa’s path. The decision will continue to contain the elevated global and domestic inflationary pressures, and the fragile economic recovery and maintain the need to safeguard the currency peg while meeting the country’s international financial obligations.

Figure 1: Repo Rates and Inflation Rates, Namibia vs. South Africa (January - November 2022)

Source: BoN, SA Reserve Bank, NSA & STATS SA

Posted on November 29, 2022
MPC
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NSX DAILY UPDATE (25 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	55,435.00	7,710,633.35	100.00%
ETFs	-	-	0.00%
Total	55,435.00	7,710,633.35	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$7,710,633.35 worth of shares was traded on the NSX on Friday with about N$ 669,252 worth of shares belonging to Anglo-American and N$ 182,000 from Paratus Namibia Holdings Ltd on the home front. No ETFs were traded on Friday

HEI Market Commentary

From the trading activity that took place:

Anglo-American’s performance increased as market participants engage in the company stock causing it to rise by 0.4%
Paratus Namibia Holdings shares were traded by market participants, resulting in no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.01	46.01	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.02	13.02	0.00%
First Rand Namibia	FNB	31.51	31.51	0.00%
Standard Bank Namibia	SNO	4.39	4.20	-4.33%
Oryx Limited	ORY	10.24	10.24	0.00%
Letshego	LHN	3.02	3.02	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	13.00	13.00	0.00%
Mobile Telecommunication Company	MOC	7.03	7.02	-0.14%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

Name	South African Dual Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	661.53	663.99	0.37%
B2Gold Corporation	B2G	60.12	60.98	1.43%
Oceana Group Limited	OCG	59.54	59.48	-0.10%
Mediclinic International Plc	MEP	101.89	102.00	0.11%
Truworths	TRW	56.51	56.25	-0.46%
Nedbank Group Limited	NBK	224.67	227.23	1.14%
Standard Bank Group	SNB	180.95	180.90	-0.03%
Shoprite Holdings	SRH	251.28	252.10	0.33%
FirstRand Limited	FST	66.37	67.09	1.08%
Momentum Metropolitan Holdings	MMT	18.02	18.05	0.17%
Old Mutual Ltd	OMM	11.20	11.04	-1.43%
Sanlam Limited	SLA	55.50	55.29	-0.38%
Santam Limited	SNM	262.46	265.18	1.04%
Vukile Property Fund Limited	VKN	14.51	14.66	1.03%
Investec Limited	IVD	101.90	103.40	1.47%
PSG Konsult Limited	KFS	11.87	12.04	1.43%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	278.53	279.77	0.45%
New Gold Palladium ETF	NGNPLD	311.44	304.03	-2.38%
New Gold Platinum ETF N	NGNPLT	162.19	162.59	0.25%
New Funds S&P NAM Bond	NFNAMA	17.74	17.61	-0.73%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.15
EUR/NAD	17.77
GBP/NAD	20.68
EUR/GBP	0.85
EUR/USD	1.03
GBP/USD	1.21
AUD/USD	0.66
USD/JPY	138.33
Commodities @ 08:00
Gold	1,751.55
Silver	21.28
Platinum	985.20
Palladium	1,853.28
WTI	74.21
Brent	81.46

Table 5: Exchange Rates and Commodities

Local News

More than 400 employees from Gendev Fishing Group and Princess Brand Processors have called on the fisheries minister to allocate quotas or allow fishing within the 200-metre contour line. (Sun Newspaper)

The technical committee working on Namibia and Botswana’s bid for the 2027 Africa Cup of Nations (Afcon) yesterday moved swiftly to calm growing perceptions that the bid has become a stalled project, announcing a raft of new developments around the initiative. (New Era Newspaper)

The Confederation of Namibian Fishing Associations (CNFA) has distanced itself from the horse mackerel sector's fight to be allowed to fish in a seabed area that has been protected for the past 25 years. (The Namibian)

Sub-Sahara News

On Friday, Transnet Freight Rail (TFR) announced that only two companies had participated in its much-anticipated auction of slots to private players, the company's first foray into allowing private participation on the rail network. (News24)

Malawi’s Anti-Corruption Bureau has arrested and charged the country’s Vice President Saulos Klaus Chilima over graft allegations, it said on Friday, following months of investigation over his conduct. (CNBC Africa)

Africa is a diverse continent with natural and human resources capable of creating inclusive growth and eradicating poverty. The continent now has the world's most extensive free trade area, with a market of 1.2 billion people. Africa seeks an entirely new economic growth path, capitalizing on the potential of its people and resources. (All Africa News)

International News

The Pentagon is considering a Boeing proposal to supply Ukraine with cheap, small precision bombs fitted onto abundantly available rockets, allowing Kyiv to strike far behind Russian lines as the West struggles to meet the demand for more arms. (Reuters)

Asian stocks fell broadly on Monday, as China battled a record number of COVID-19 cases, and Russian officials in control of Europe's largest nuclear site accused Kyiv of shelling the area. (RTT News)

Ukraine’s President Volodymyr Zelenskyy has warned of new Russian missile attacks on his country, urging defense forces and citizens to be prepared to withstand a new week of strain on the power grid. (Aljazeera News)

Namibian Inductive Daily Bond Yield Report (24 November 2022)

HEI Fixed Income Market Commentary

The New York Stock Exchange (NYSE) and the NASDAQ stock markets in the U.S. were closed for the Thanksgiving holiday, thus resulting in lower Treasury yields and a softer US dollar.
The overall bourse of the Namibian Stock Exchange (NSX), closed in negative territory at -0.07% on the backdrop of real estate and financial sectors, which dropped by 0.26% and 0.90%, respectively.
Bond yields in Namibia are continuously on a downward trajectory, as SARBs increased the repo rate to 7.00% yesterday, however, Namibia still remains behind the curve, and most economists anticipate an increase in repo rate on 7 December 2022 at the next Bank of Namibia's upcoming meeting.
Despite the JSE bourse closing at 0.32%, in South Africa, the bond yields are following the same trend as the Namibian bond yields

Table 1. Namibia Government Bonds

Bonds	Coupon	Maturity	YTM (%)	YTM (%)	YTM (%)	DTDΔ	Prices
			02-Nov-22	23-Nov-22	24-Nov-22	(bps)	24-Nov-22
GC23	8.85	15-Oct-23	8.71	8.79	8.75	-4.37	100.07
GC24	10.5	15-Oct-24	8.39	8.05	7.98	-7.20	104.32
GC25	8.5	15-Apr-25	8.74	8.79	8.72	-7.00	99.52
GC26	8.5	15-Apr-26	8.74	9.15	9.06	-8.68	98.37
GC27	8	15-Jan-27	9.55	9.28	9.21	-7.00	95.91
GC28	8.5	15-Oct-28	11.20	10.74	10.64	-10.35	90.80
GC30	8	15-Jan-30	11.58	11.12	11.04	-7.85	85.22
GC32	9	15-Apr-32	11.94	11.68	11.69	1.19	84.89
GC35	9.5	15-Jul-35	13.04	12.82	12.61	-20.61	80.54
GC37	9.5	15-Jul-37	13.18	13.04	12.87	-17.20	77.99
GC40	9.8	15-Oct-40	13.29	12.97	12.89	-8.25	78.56
GC43	10	15-Jul-43	14.27	14.10	13.92	-18.25	73.56
GC45	9.85	15-Jul-45	14.30	14.24	14.09	-14.81	71.25
GC48	10	15-Oct-48	14.68	14.57	14.37	-20.17	70.86
GC50	10.25	15-Jul-50	14.87	14.71	14.48	-22.33	71.34

Figure 1. Namibia Bond Yield: 02-Nov-2022 vs. 24-Nov-2022

Figure 1. South African Bond Yields: 02-Nov-2022 vs. 24-Nov-2022

Author: hei