hei – Page 71

NSX DAILY UPDATE (22 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	124,963.00	1,554,447.51	89.76%
ETFs	631.00	177,285.76	10.24%
Total	125,594.00	1,731,733.27	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$1,554,447.51 worth of shares was traded on the NSX on Tuesday with about N$ 22,392 worth of shares belonging to Anglo-American and N$ 46,000 from Namibia Breweries on the home front. ETFs worth N$177,285.76 were traded on Tuesday.

HEI Market Commentary

From the trading activity that took place:

Anglo-American’s performance surged as gold prices traded slightly higher at $1 741.24 an ounce at the same time.
Namibia Breweries’ shares were traded by market participants, resulting in no change in share price at closing
New Gold Issuer Ltd NM was sold off as commodity prices grow soars amid the commentary made by the Saudi Energy minister signaling a reduction of oil

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	13.01	13.01	0.00%
First Rand Namibia	FNB	31.00	31.00	0.00%
Standard Bank Namibia	SNO	4.40	4.40	0.00%
Oryx Limited	ORY	10.25	10.25	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	13.00	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	634.65	644.42	1.54%
B2Gold Corporation	B2G	58.63	57.51	-1.91%
Oceana Group Limited	OCG	55.50	58.47	5.35%
Mediclinic International Plc	MEP	101.25	101.88	0.62%
Truworths	TRW	55.55	57.59	3.67%
Nedbank Group Limited	NBK	178.78	226.82	26.87%
Standard Bank Group	SNB	178.78	180.98	1.23%
Shoprite Holdings	SRH	244.78	245.50	0.29%
FirstRand Limited	FST	65.24	66.51	1.95%
Momentum Metropolitan Holdings	MMT	16.90	17.70	4.73%
Old Mutual Ltd	OMM	11.18	11.35	1.52%
Sanlam Limited	SLA	54.30	55.50	2.21%
Santam Limited	SNM	252.42	264.95	4.96%
Vukile Property Fund Limited	VKN	14.35	14.28	-0.49%
Investec Limited	IVD	99.71	99.78	0.07%
PSG Konsult Limited	KFS	12.20	12.06	-1.15%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	283.15	281.80	-0.48%
New Gold Palladium ETF	NGNPLD	328.19	314.65	-4.13%
New Gold Platinum ETF N	NGNPLT	164.24	166.84	1.58%
New Funds S&P NAM Bond	NFNAMA	17.46	17.50	0.23%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.24
EUR/NAD	17.81
GBP/NAD	20.50
EUR/GBP	0.86
EUR/USD	1.03
GBP/USD	1.18
AUD/USD	0.66
USD/JPY	141.34
Commodities @ 08:00
Gold	1,742.00
Silver	21.06
Platinum	992.80
Palladium	1,873.78
WTI	79.94
Brent	87.46

Table 5: Exchange Rates and Commodities

Local News

The mines ministry wants to probe all applications for exclusive prospecting licenses (EPLs) submitted between September 2021 and September 2022 (Sun Newspaper)

MTC and the leadership of Otjiwarongo municipality last week into a strategic cooperation agreement, which will see the two institutions collaborate to enhance public service delivery through innovative digital solutions (New Era Newspaper)

Mobile Telecommunications Limited (MTC) has announced expected better returns for the 2022 financial year, with profit expected to go up by a minimum of N$44 million (The Namibian)

Sub-Sahara News

The UK government intends to support South Africa's plans to develop a green hydrogen sector with grant-funded technical assistance. (News24)

Nigeria’s central bank raised its benchmark lending rate to 16.50% from 15.50% NGCBIR=ECI on Tuesday, as policymakers attempted to rein in inflation that was slowing down economic growth. (CNBC Africa)

Cameroon has blamed arms smuggling from its neighbors for fueling Boko Haram terrorism, anglophone separatists, and crime. The military says it has recovered only a small fraction of illegal small arms out of what is thought to be more than 100,000, most of them smuggled from neighboring Chad and Nigeria.

(All Africa News)

International News

Ukraine's government on Tuesday urged people to conserve energy amid relentless Russian strikes that have halved the country's power capacity, as the United Nations health body warned of a humanitarian disaster in Ukraine this winter. (Reuters)

Asian stocks ended on a subdued note Wednesday, as investors waited for more clarity over reports that Russian missiles aimed at Ukraine have hit NATO territory in Poland. (RTT News)

Rescue workers in Indonesia are racing to reach people still trapped in the rubble a day after an earthquake devastated a West Java town, killing dozens of people and injuring hundreds as buildings collapsed. (Aljazeera News)

Namibian Inductive Daily Bond Yield Report (21 November 2022)

HEI Fixed Income Market Commentary

As the price of Brent crude traded at prices last seen in February this year after news reports that OPEC+, the petroleum consortium, could discuss a supply increase of 500,000 barrels during the next meeting.
While the Namibian Stock Exchange (NSX) declined by 0.97% yesterday, bond yields indicated some positive sentiments as yield curves displayed an upward trajectory. Spreads between Namibia’s yields and South Africa’s yields are extremely volatile as an aftermath of S&P Global’s positive rating outlook on South African local and foreign debt.
In South Africa, the yield curves are continuing to decline drastically as market forces are causing investors to rearrange their portfolio’s holdings on Fixed Income securities

Table 1. Namibia Government Bonds

Bonds	Coupon	Maturity	YTM (%)	YTM (%)	YTM (%)	DTDΔ	Prices
			04-Nov-22	18-Nov-22	21-Nov-22	(bps)	21-Nov-22
GC23	8.85	15-Oct-23	8.73	8.78	8.81	2.32	100.02
GC24	10.5	15-Oct-24	8.39	8.12	8.11	-1.20	104.13
GC25	8.5	15-Apr-25	8.75	8.86	8.85	-1.40	99.25
GC26	8.5	15-Apr-26	8.75	9.25	9.24	-1.30	97.86
GC27	8	15-Jan-27	9.56	9.34	9.33	-1.20	95.48
GC28	8.5	15-Oct-28	11.17	10.90	10.90	-0.20	89.74
GC30	8	15-Jan-30	11.54	11.21	11.24	2.65	84.36
GC32	9	15-Apr-32	11.89	11.56	11.59	2.76	85.37
GC35	9.5	15-Jul-35	12.96	12.96	13.00	3.36	78.53
GC37	9.5	15-Jul-37	13.09	13.23	13.26	3.24	75.93
GC40	9.8	15-Oct-40	13.22	12.97	13.01	3.51	77.89
GC43	10	15-Jul-43	14.21	14.32	14.30	-2.25	71.63
GC45	9.85	15-Jul-45	14.21	14.40	14.39	248.82	69.77
GC48	10	15-Oct-48	14.58	14.76	14.78	1.57	68.91
GC50	10.25	15-Jul-50	14.75	14.84	14.85	1.57	69.56

Source: BoN & HEI Research

Figure 1. Namibia Bond Yield: 04-Nov-2022 vs. 21-Nov-2022

Figure 1. South African Bond Yields: 01-Nov-2022 vs. 18-Nov-2022

NSX DAILY UPDATE (21 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	357,683.00	9,167,553.49	100.00%
ETFs	-	-	0.00%
Total	357,683.00	9,167,553.49	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 9,167,553.49 worth of shares was traded on the NSX on Monday with about N$ 1,024,009 worth of shares belonging to Anglo-American and N$ 1,306,074 from Capricorn Group Limited on the home front. No ETFs were traded on Monday

HEI Market Commentary

From the trading activity that took place:

Anglo-American’s shares resort back in declining indicating high correlating with the VIX index
Capricorn Group’s shares were traded by market participants, resulting in a slightly increase at 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	13.00	13.01	0.08%
First Rand Namibia	FNB	31.00	31.00	0.00%
Standard Bank Namibia	SNO	4.40	4.40	0.00%
Oryx Limited	ORY	10.25	10.25	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	13.00	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	649.65	634.65	-2.31%
B2Gold Corporation	B2G	57.99	58.63	1.10%
Oceana Group Limited	OCG	55.50	55.50	0.00%
Mediclinic International Plc	MEP	101.48	101.25	-0.23%
Truworths	TRW	55.55	55.55	0.00%
Nedbank Group Limited	NBK	220.00	178.78	-18.74%
Standard Bank Group	SNB	178.86	178.78	-0.04%
Shoprite Holdings	SRH	247.84	244.78	-1.23%
FirstRand Limited	FST	65.33	65.24	-0.14%
Momentum Metropolitan Holdings	MMT	17.03	16.90	-0.76%
Old Mutual Ltd	OMM	11.15	11.18	0.27%
Sanlam Limited	SLA	54.92	54.30	-1.13%
Santam Limited	SNM	255.62	252.42	-1.25%
Vukile Property Fund Limited	VKN	14.32	14.35	0.21%
Investec Limited	IVD	96.78	99.71	3.03%
PSG Konsult Limited	KFS	12.26	12.20	-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	283.15	283.15	0.00%
New Gold Palladium ETF	NGNPLD	328.19	328.19	0.00%
New Gold Platinum ETF N	NGNPLT	164.24	164.24	0.00%
New Funds S&P NAM Bond	NFNAMA	17.46	17.46	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.31
EUR/NAD	17.75
GBP/NAD	20.52
EUR/GBP	0.86
EUR/USD	1.02
GBP/USD	1.18
AUD/USD	0.66
USD/JPY	141.87
Commodities @ 08:00
Gold	1,746.85
Silver	21.05
Platinum	994.30
Palladium	1,874.28
WTI	79.92
Brent	87.39

Table 5: Exchange Rates and Commodities

Local News

FlyNamibia yesterday retreated that it neither bought nor did it bid to buy liquidated Air Namibia’s aircraft, contrary to allegations made to the government by one of the companies interested in acquiring the grounded planes. (Sun Newspaper)

The country’s competition watchdog has called out two suppliers of office automation equipment, dealing in high-volume digital printing machines and copy machines, for contravening legislation that ensures fair competition. (New Era Newspaper)

Australian company Cazaly Resources Limited will commence infill surface sampling at the Kaoko Critical Minerals Project this week after data review relieved the potential for a sizeable sediment-hosted lithium deposit (The Namibian)

Sub-Sahara News

ANC leader Cyril Ramaphosa is set to be the main contender for the party's top position when the electoral committee announces the outcomes of branch nominations for the top six on Tuesday. (News24)

African nations made clear at last week’s United Nations climate summit that the region would develop its fossil fuel resources to alleviate fuel shortages, help lift local populations out of poverty and spur vital economic growth. (CNBC Africa)

The Member of Parliament (MP) for Nhyiaeso Constituency in the Ashanti Region, Dr. Stephen Amoah, has postulated that the President's decision to sack an appointee named in a corruption scandal is deserving of acknowledgment. (All Africa News)

International News

Ukrainians braced for winter with little or no power in several areas including the capital where temperatures have already dropped below freezing as relentless Russian strikes crippled the country's energy capacity. (Reuters)

Asian stocks ended mixed on Tuesday after Wall Street's main indexes ended lower overnight and China data disappointed. (RTT News)

Rescue workers in Indonesia are racing to reach people still trapped in rubble a day after an earthquake devastated a West Java town, killing dozens of people and injuring hundreds as buildings collapsed. (Aljazeera News)

Namibian Inductive Daily Bond Yield Report (18 November 2022)

HEI Fixed Income Market Commentary

Most markets performed poorly after the hawkish commentary by the U.S Federal Reserve (Feds) last week. The Feds uttered; “the policy rate is not yet in a zone that may be considered sufficiently restrictive” and suggested the “proper zone for the fed funds rate could be in the 5% to 7% range”, which is higher than the current market pricing and Fed’s forecast
In the domestic market, the NSX bourse declined by 2.10% at the close of business last week. Bond yields continue to decline, showing a similar trend as the U.S 30-year bond. To many investors, a decline in bond yields signals a recession. Analysts at Goldman Sachs stated that there are some “wild cards that haven’t been resolved”, henceforth the future remains unpredictable
In South Africa, the bond yields gradually declined, following last week’s commentary of the Feds’. However, a positive rating on foreign and local debt by S&P Global for South Africa could result in positive yields in the short to medium term.

Table 1. Namibia Government Bonds

Bonds	Coupon	Maturity	YTM (%)	YTM (%)	YTM (%)	DTDΔ	Prices
			01-Nov-22	17-Nov-22	18-Nov-22	(bps)	18-Nov-22
GC23	8.85	15-Oct-23	8.7	8.796	8.7827	-1.34431	100.04315
GC24	10.5	15-Oct-24	8.4	8.133	8.1210	-1.20498	104.10999
GC25	8.5	15-Apr-25	8.8	8.872	8.8599	-1.20505	99.22099
GC26	8.5	15-Apr-26	8.8	9.271	9.2549	-1.59581	97.82181
GC27	8	15-Jan-27	9.6	9.357	9.3448	-1.20076	95.43625
GC28	8.5	15-Oct-28	11.0	10.925	10.9009	-2.38864	89.72404
GC30	8	15-Jan-30	11.6	11.227	11.2089	-1.80037	84.46777
GC32	9	15-Apr-32	12.0	11.589	11.5649	-2.45243	85.50501
GC35	9.5	15-Jul-35	13.0	12.983	12.9628	-1.99545	78.70496
GC37	9.5	15-Jul-37	13.2	13.250	13.2286	-2.09726	76.09424
GC40	9.8	15-Oct-40	13.3	13.000	12.9738	-2.59972	78.08958
GC43	10	15-Jul-43	14.3	14.375	14.3212	-5.364	71.52298
GC45	9.85	15-Jul-45	14.3	14.435	14.4024	-3.2493	69.70813
GC48	10	15-Oct-48	14.735193	14.7936	14.7624	-3.11946	68.98088
GC50	10.25	15-Jul-50	14.94886	14.8695	14.8382	-3.12909	69.62946

Source: BoN & HEI Research

Figure 1. Namibia Bond Yield: 01-Nov-2022 vs. 18-Nov-2022

Figure 1. South African Bond Yields: 01-Nov-2022 vs. 18-Nov-2022

NSX WEEKLY MARKET UPDATES (14 -18 NOVEMBER 2022)

Building Plans Approved Report, Windhoek: October 2022

Executive summary

The City of Windhoek approved a total of 280 building plans valued at N$ 158,211,436 in October 2022. See figure 1
Out of 280 building plans approved, 182 were additions plans, 67 were house plans, 16 were wall plans, 13 were commercial plans, and 2 were pool plans
The number of building plans approved increased by 6% in relation to the previous month. See Figure 2
During the month under review, a total number of 88 buildings were completed for Windhoek at the value of N$ 75,847,232

Analysis

On an annual basis, the number of building plans approved for Windhoek declined by 3%
For the month under review, the highest number of building plans approved were from Windhoek suburb with a total of 57 plans (39 addition plans, 9 house plans, 7 commercial plans, 2 wall plans) valued at N$ 52,577,750
Katutura had the second-highest number of building plans approved with a total of 43 plans valued at N$ 12,063,216

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

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

Outlook

We anticipate modest growth for Windhoek’s construction sector for November 2022. This will be driven by the urgency to complete construction work before the holiday season.

NSX DAILY UPDATE (18 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	275,742.00	8,056,861.39	99.02%
ETFs	335.00	79,782.35	0.98%
Total	276,077.00	8,136,643.74	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 8,056,861.39 worth of shares was traded on the NSX on Friday with about N$ 1,267,637 worth of shares belonging to Anglo-American and N$ 865,244 from Oryx Properties on the home front. No ETFs worth N$ 79,782.35 were traded on Friday.

HEI Market Commentary

From the trading activity that took place:

Anglo-American shares finally stabilize as share prices surge after a week-long bearish run.
Oryx Properties’ shares were traded by market participants, declining slightly by small margins.
New Gold Issuer Ltd NM & New Gold Platinum ETF N were traded displaying mixed feelings.

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	13.00	13.00	0.00%
First Rand Namibia	FNB	31.00	31.00	0.00%
Standard Bank Namibia	SNO	4.40	4.40	0.00%
Oryx Limited	ORY	10.26	10.25	-0.10%
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	13.00	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	646.62	649.65	0.47%
B2Gold Corporation	B2G	58.98	57.99	-1.68%
Oceana Group Limited	OCG	55.30	55.50	0.36%
Mediclinic International Plc	MEP	102.05	101.48	-0.56%
Truworths	TRW	55.42	55.55	0.23%
Nedbank Group Limited	NBK	215.40	220.00	2.14%
Standard Bank Group	SNB	176.28	178.86	1.46%
Shoprite Holdings	SRH	250.88	247.84	-1.21%
FirstRand Limited	FST	64.43	65.33	1.40%
Momentum Metropolitan Holdings	MMT	16.63	17.03	2.41%
Old Mutual Ltd	OMM	10.70	11.15	4.21%
Sanlam Limited	SLA	53.77	54.92	2.14%
Santam Limited	SNM	257.09	255.62	-0.57%
Vukile Property Fund Limited	VKN	14.11	14.32	1.49%
Investec Limited	IVD	93.86	96.78	3.11%
PSG Konsult Limited	KFS	12.29	12.26	-0.24%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	286.85	283.15	-1.29%
New Gold Palladium ETF	NGNPLD	337.09	328.19	-2.64%
New Gold Platinum ETF N	NGNPLT	166.82	164.24	-1.55%
New Funds S&P NAM Bond	NFNAMA	17.47	17.46	-0.06%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.35
EUR/NAD	17.83
GBP/NAD	20.52
EUR/GBP	0.86
EUR/USD	1.02
GBP/USD	1.18
AUD/USD	0.66
USD/JPY	140.51
Commodities @ 08:00
Gold	1,748.94
Silver	20.79
Platinum	979.20
Palladium	1,967.28
WTI	79.80
Brent	87.13

Table 5: Exchange Rates and Commodities

Local News

Air Namibia liquidators Bruni and McLaren have reportedly received an offer from Cameroonian company ZeJet for the purchase of the former airline’s four Embraer 135 jets (Sun Newspaper)

It is that time of the year when many Namibians decide to travel the world for their annual holidays-and as a result, many have to pass through the busiest airport on the continent. (New Era Newspaper)

The Namibia Ports Authority (Namport) has upped its revenue by 20% in the first seven months of the financial year starting 1 April 2022 to 31 October 2022. (The Namibian)

Sub-Sahara News

Thousands of taxi commuters are expected to be affected by a major two-day taxi strike in Cape Town, which kicks off on Monday. (News24)

Negotiators say they have struck a potential breakthrough deal on the thorniest issue of United Nations climate talks, the creation of a fund for compensating poor nations that are victims of extreme weather worsened by rich nations’ carbon pollution. (CNBC Africa)

The British High Commissioner to Nigeria, Mrs. Catriona Laing, has said that the number of Nigerians applying for visas to the UK has increased in recent times. (All Africa News)

International News

The head of the U.N. nuclear watchdog has warned that whoever fired artillery at Ukraine's Zaporizhzhia nuclear power plant was "playing with fire" as his team prepared to inspect it on Monday for damage from the weekend strikes. (Reuters)

European stocks rose on Monday after China unveiled a sweeping rescue package to salvage its real estate market. (RTT News)

Malaysia’s stock market and currency dipped after a national election produced the Southeast Asian nation’s first hung parliament, setting off a scramble to form a coalition before a Monday afternoon deadline. (Aljazeera News)

Namibian Inductive Daily Bond Yield Report (17 November 2022)

HEI Fixed Income Market Commentary

Global markets ended in negative territory following U.S corporate earnings and a sell-off in their high-growth and technology stocks amid rising U.S Treasury yields. This also led to Brent crude falling around $90 per barrel while gold also declined, trading around $1,760 an ounce as low demand arises in the global economy

In the domestic market, the NSX bourse also closed in negative territory declining by -0.76% on the backdrop of global risk aversion following more hawkish commentary from the Federal Reserve (Fed Inflation data from the Namibian Statistic Agency (NSA) showed inflation remained constant at 7.1% for September and October, thus creating different perceptions on bond yields, with some declining and others increasing.

In South Africa, the sovereign spread is highly correlated with the Volatility Index (VIX) of 40, while the VIX itself is 26, indicating just how volatility the bonds reach to global market factors such as inflation and interest rates which caused the yields to decline due to market forces mentioned earlier.

The spreads increased on bonds maturing more than 30 years while they decreased on those less than 30 years mirroring investors’ preference for the type of bonds.

Table 1. Namibia Government Bonds

Bonds	Coupon	Maturity	YTM (%)	YTM (%)	YTM (%)	DTDΔ	MTDΔ	Prices
			01-Nov-22	16-Nov-22	17-Nov-22	(bps)	(bps)	17-Nov-22
GC23	8.85	15-Oct-23	8.73356	8.796	8.7961	0	6	100.0331
GC24	10.5	15-Oct-24	8.39655	8.064	8.133	7	26	104.1061
GC25	8.5	15-Apr-25	8.75044	8.803	8.872	7	12	99.19414
GC26	8.5	15-Apr-26	8.75044	9.202	9.2709	7	52	97.77303
GC27	8	15-Jan-27	9.56143	9.288	9.3568	7	20	95.38884
GC28	8.5	15-Oct-28	11.00824	10.835	10.9248	9	8	89.61945
GC30	8	15-Jan-30	11.61090	11.138	11.2269	9	38	84.37724
GC32	9	15-Apr-32	11.98047	11.509	11.5894	8	39	85.37487
GC35	9.5	15-Jul-35	13.04905	12.843	12.9828	14	7	78.59551
GC37	9.5	15-Jul-37	13.21063	13.053	13.2496	20	4	75.97984
GC40	9.8	15-Oct-40	13.31630	12.943	12.9998	6	32	77.94202
GC43	10	15-Oct-43	14.26186	14.207	14.3748	17	11	71.25645
GC45	9.85	15-Jul-45	14.34203	14.252	14.4349	18	9	69.54879
GC48	10	15-Oct-48	14.73519	14.59865	14.7936	19	6	68.83244
GC50	10.25	15-Jul-50	14.94886	14.69821	14.8695	17	8	69.48046

Source: BoN & HEI Research

Figure 1. Namibia Bond Yield: 01-Nov-2022 vs. 17-Nov-2022

Figure 1. South African Bond Yields: 01-Nov-2022 vs. 17-Nov-2022

Source: BoN & HEI Research

NSX DAILY UPDATE (16 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	105,812.00	7,069,188.24	95.87%
ETFs	1,060.00	304,177.60	4.13%
Total	106,872.00	7,373,365.84	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 7,069,188.24 worth of shares was traded on the NSX on Wednesday with about N$ 631,375 worth of shares belonging to Anglo-American and N$ 455,000 from Paratus Namibia Holdings on the home front. ETFs worth N$ 304,177.60 were traded on Wednesday.

HEI Market Commentary

From the trading activity that took place:

Anglo-American shares continue to be sold off as commodity prices weaken amid news from the US, China, and Euro Data
Paratus Namibia shares were traded by market participants, with no change in share price at closing
New Gold Issuer Ltd NM ETFs were subscribed by market participants at 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	13.00	13.00	0.00%
First Rand Namibia	FNB	31.00	31.00	0.00%
Standard Bank Namibia	SNO	4.40	4.40	0.00%
Oryx Limited	ORY	10.26	10.26	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	13.00	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	686.53	657.60	-4.21%
B2Gold Corporation	B2G	60.63	59.63	-1.65%
Oceana Group Limited	OCG	56.00	55.78	-0.39%
Mediclinic International Plc	MEP	101.49	101.12	-0.36%
Truworths	TRW	56.33	55.40	-1.65%
Nedbank Group Limited	NBK	216.89	216.15	-0.34%
Standard Bank Group	SNB	175.10	176.79	0.97%
Shoprite Holdings	SRH	253.64	247.00	-2.62%
FirstRand Limited	FST	64.50	64.54	0.06%
Momentum Metropolitan Holdings	MMT	16.90	16.72	-1.07%
Old Mutual Ltd	OMM	10.76	10.73	-0.28%
Sanlam Limited	SLA	54.14	53.67	-0.87%
Santam Limited	SNM	262.83	258.87	-1.51%
Vukile Property Fund Limited	VKN	14.37	14.07	-2.09%
Investec Limited	IVD	94.51	93.24	-1.34%
PSG Konsult Limited	KFS	12.01	12.22	1.75%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	285.25	286.11	0.30%
New Gold Palladium ETF	NGNPLD	345.64	346.26	0.18%
New Gold Platinum ETF N	NGNPLT	170.24	168.78	-0.86%
New Funds S&P NAM Bond	NFNAMA	17.73	17.73	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.30
EUR/NAD	17.96
GBP/NAD	20.58
EUR/GBP	0.87
EUR/USD	1.03
GBP/USD	1.18
AUD/USD	0.67
USD/JPY	139.39
Commodities @ 08:00
Gold	1,766.35
Silver	21.21
Platinum	1,008.20
Palladium	2,036.28
WTI	84.42
Brent	91.83

Table 5: Exchange Rates and Commodities

Local News

The government wants the Social Security Commission (SSC) to avail N$40 million over two years to fund a state-sponsored internship program, a leaked document has revealed (Sun Newspaper)

The annual inflation rate in October 2022 increased by 7.1% compared to 3.6% recorded in October 2021 (New Era Newspaper)

Canadian mining company Madison Metals has bought more land in Erongo Region for its uranium mining activities (The Namibian)

Sub-Sahara News

R40bn Transnet contracts linked to Chinese companies probed in biggest state capture case yet (News24)

Countries were far from agreeing to the contours of a climate deal at the COP27 summit in Egypt on Wednesday, with the host country urging negotiators to resolve their differences ahead of a weekend deadline. (CNBC Africa)

A new study has found that heavy rain and flooding in the Lake Chad region, which killed more than 800 people this year, was 80 times likelier as a result of climate change. (All Africa News)

International News

North Korea fired a ballistic missile on Thursday as it warned of "fiercer military responses" to U.S. efforts to boost its security presence in the region with its allies, saying Washington is taking a "gamble it will regret". (Reuters)

Asian stocks tumbled on Thursday, as a surge in COVID-19 cases spurred lockdowns in the southern Chinese manufacturing hub of Guangzhou and uncertainty continued over the outcome of the U.S. midterm elections. (RTT News)

Myanmar’s military has announced it was releasing an Australian academic, a Japanese filmmaker, an ex-British diplomat and an American as part of a prisoner amnesty. (Aljazeera News)

NSX DAILY UPDATES (15 NOVEMBER 2022)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	107,127.00	9,878,971.75	100.00%
ETFs	-	-	0.00%
Total	107,127.00	9,878,971.75	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 9,878,971.75 worth of shares was traded on the NSX on Tuesday with about N$ 8,665,535 worth of shares belonging to Standard Bank Group and N$ 92,000 from Namibia Breweries on the home front. No ETFs were traded on Tuesday.

HEI Market Commentary

From the trading activity that took place:

Standard Bank Group shares were sold off by the Director of the company for reasons unknown
Namibia Breweries shares were traded by market participants, with no change in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.00	46.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.00	13.00	0.00%
First Rand Namibia	FNB	31.00	31.00	0.00%
Standard Bank Namibia	SNO	4.40	4.40	0.00%
Oryx Limited	ORY	10.26	10.26	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	13.00	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	672.12	686.53	2.14%
B2Gold Corporation	B2G	61.54	60.63	-1.48%
Oceana Group Limited	OCG	58.40	56.00	-4.11%
Mediclinic International Plc	MEP	100.50	101.49	0.99%
Truworths	TRW	56.64	56.33	-0.55%
Nedbank Group Limited	NBK	224.15	216.89	-3.24%
Standard Bank Group	SNB	178.82	175.10	-2.08%
Shoprite Holdings	SRH	254.90	253.64	-0.49%
FirstRand Limited	FST	66.30	64.50	-2.71%
Momentum Metropolitan Holdings	MMT	17.00	16.90	-0.59%
Old Mutual Ltd	OMM	11.07	10.76	-2.80%
Sanlam Limited	SLA	54.83	54.14	-1.26%
Santam Limited	SNM	254.47	262.83	3.29%
Vukile Property Fund Limited	VKN	14.34	14.37	0.21%
Investec Limited	IVD	94.49	94.51	0.02%
PSG Konsult Limited	KFS	11.93	12.01	0.67%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	285.55	285.25	-0.11%
New Gold Palladium ETF	NGNPLD	337.11	345.64	2.53%
New Gold Platinum ETF N	NGNPLT	169.20	170.24	0.61%
New Funds S&P NAM Bond	NFNAMA	17.81	17.73	-0.45%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.32
EUR/NAD	17.96
GBP/NAD	20.55
EUR/GBP	0.87
EUR/USD	1.03
GBP/USD	1.18
AUD/USD	0.67
USD/JPY	139.81
Commodities @ 08:00
Gold	1,776.40
Silver	21.60
Platinum	1,024.35
Palladium	2,085.02
WTI	86.25
Brent	93.29

Table 5: Exchange Rates and Commodities

Local News

Former workers of now-defunct Air Namibia camped out at its deserted headquarters on Monday, demanding outstanding payments and refunds on what they believe were unlawful tax deductions. (Sun Newspaper)

Namibia is set to develop a new conservation agriculture strategic framework to inspire local farmers to adopt sustainable agriculture practices that ensure resilience, food security, and nutrition as well as environmental protection an official said on Monday (New Era Newspaper)

The price of cooking oil is gradually returning to normal, and at most retailers, two liters now cost less than N$100 (The Namibian)

Sub-Sahara News

Eskom has warned of protracted load shedding over the next six to 12 months. The company's own stats show Stage 3 or higher will be the new normal. (News24)

Uganda is looking to borrow 500 million euros ($517.6 million) for budget spending through various credit options excluding a Eurobond issue, a finance ministry document shows. (CNBC Africa)

The United States government has offered a $10 million (Sh1.2 billion) for any leads on illicit financial flows in a bid to degrade the capabilities of Al-Shabaab. (All Africa News)

International News

Leaders of the Group of 20 (G20) nations were considering a draft resolution on Tuesday in which most members strongly condemn the war in Ukraine and stress it is exacerbating fragilities in the global economy, diplomats said. (Reuters)

Asian stocks ended Tuesday's session on a mixed note amid concerns about the fate of China's zero-COVID policy and ahead of U.S. consumer inflation data due on Thursday that could influence the Federal Reserve's rate-hike narrative. (RTT News)

The family of Shireen Abu Akleh says they are “encouraged” by the United States announcing an investigation into the Palestinian American Al Jazeera correspondent’s killing in May. (Aljazeera News)

Author: hei