Category: Equity Market Research

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	264,644.00	9,983,762.93	100.00%
ETFs	-	-	0.00%
Total	264,644.00	9,983,762.93	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$  9,983,762.93 worth of shares was traded on the NSX on Friday with about N$  425,652 worth of Anglo-American and N$    14,025 worth of Namibia Breweries on the home front. No ETFs were traded on Friday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American performance on the stock exchange barely changed on the bourse as market sentiments displayed mixed behavior
• Shares belonging to Namibia Breweries were traded on the local bourse, with a decline in price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.51	42.50	-0.02%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.00	13.00	0.00%
First Rand Namibia	FNB	30.60	30.60	0.00%
Standard Bank Namibia	SNO	4.70	4.90	4.26%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

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Name	South African Dual-Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	558.45	558.60	0.03%
B2Gold Corporation	B2G	60.97	61.16	0.31%
Oceana Group Limited	OCG	54.75	56.00	2.28%
Mediclinic International Plc	MEP	98.77	99.40	0.64%
Truworths	TRW	51.23	51.37	0.27%
Nedbank Group Limited	NBK	195.87	198.33	1.26%
Standard Bank Group	SNB	144.51	144.67	0.11%
Shoprite Holdings	SRH	215.81	215.00	-0.38%
FirstRand Limited	FST	60.89	60.85	-0.07%
Momentum Metropolitan Holdings	MMT	15.02	15.07	0.33%
Old Mutual Ltd	OMM	9.62	9.70	0.83%
Sanlam Limited	SLA	50.00	49.92	-0.16%
Santam Limited	SNM	247.00	245.60	-0.57%
Vukile Property Fund Limited	VKN	12.95	13.08	1.00%
Investec Limited	IVD	76.80	77.89	1.42%
PSG Konsult Limited	KFS	10.86	10.80	-0.55%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	285.98	287.38	0.49%
New Gold Palladium ETF	NGNPLD	396.61	396.97	0.09%
New Gold Platinum ETF N	NGNPLT	159.11	162.19	1.94%
New Funds S&P NAM Bond	NFNAMA	17.22	17.19	-0.17%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.17
EUR/NAD	17.66
GBP/NAD	20.00
EUR/GBP	0.88
EUR/USD	0.97
GBP/USD	1.10
AUD/USD	0.63
USD/JPY	145.37
Commodities @ 08:00
Gold	1,693.70
Silver	19.75
Platinum	909.75
Palladium	2,182.02
WTI	91.85
Brent	97.06

Table 5: Exchange Rates and Commodities 

Local News

Between 2015 and 2020, farmers paid about N$217.5 million for losses to livestock and wildlife.  (Sun Newspaper)

Energy minister Tom Alweendo last week again admitted that government is gravely concerned about Namibia’s increasing fuel price. (New Era Newspaper)

Mineworkers Union of Namibia says more than 200 of their members have been suspended at the B2Gold Otjikoto Mine after they refused to work over the normal eight hours per day without compensation. (The Namibian)

Sub-Sahara News

PetroSA acting CEO Sandisiwe Ncemane said the entity was looking to leverage strategic partnerships to bolster its downstream business and develop refinery capacity as fuel imports rose in recent months. (News24)

Shares of Kenyan telecoms operator Safaricom SCOM.NR surged more than 9% on Friday after it secured a mobile financial services license in Ethiopia, market participants said. (CNBC Africa)

No fewer than 35,000 persons have been reported killed in Northern Nigeria and 1.8 million others displaced in Borno, Adamawa, and Yobe states since 2009 when Boko Haram launched its insurgency. (All Africa News)

International News

As Japan throws open its doors to visitors this week after more than two years of pandemic isolation, hopes for a tourism boom face tough headwinds amid shuttered shops and a shortage of hospitality workers. (Reuters)

The UK government decided to abandon its plan to scrap the 45 percent tax rate, which was announced just 10 days before, after coming under severe criticism for such relaxation for the high earners at the time of rising living costs. (RTT News)

North Korea has said its recent barrage of missile launches were “tactical nuclear” drills personally overseen by leader Kim Jong Un, and a response to joint United States-South Korea naval exercises. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	473,228.00	24,908,103.36	100.00%
ETFs	-	-	0.00%
Total	473,228.00	24,908,103.36	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 24,908,103.36 worth of shares was traded on the NSX on Thursday with about N$ 4,065,455 worth of Anglo-American and N$      1,049,100 worth of Capricorn Group on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American performance declined as the resource-linked indices closed in negative territory.
• Shares belonging to Capricorn Group were traded on the local bourse, with no change in price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.51	42.51	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	13.00	13.00	0.00%
First Rand Namibia	FNB	30.56	30.60	0.13%
Standard Bank Namibia	SNO	4.71	4.70	-0.21%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

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Name	South African Dual-Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	575.48	558.45	-2.96%
B2Gold Corporation	B2G	60.54	60.97	0.71%
Oceana Group Limited	OCG	55.19	54.75	-0.80%
Mediclinic International Plc	MEP	99.12	98.77	-0.35%
Truworths	TRW	50.82	51.23	0.81%
Nedbank Group Limited	NBK	197.50	195.87	-0.83%
Standard Bank Group	SNB	144.90	144.51	-0.27%
Shoprite Holdings	SRH	212.92	215.81	1.36%
FirstRand Limited	FST	60.96	60.89	-0.11%
Momentum Metropolitan Holdings	MMT	15.22	15.02	-1.31%
Old Mutual Ltd	OMM	9.63	9.62	-0.10%
Sanlam Limited	SLA	50.14	50.00	-0.28%
Santam Limited	SNM	248.50	247.00	-0.60%
Vukile Property Fund Limited	VKN	12.65	12.95	2.37%
Investec Limited	IVD	76.26	76.80	0.71%
PSG Konsult Limited	KFS	10.88	10.86	-0.18%

Table 3: Dual-Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	284.24	285.98	0.61%
New Gold Palladium ETF	NGNPLD	386.00	396.61	2.75%
New Gold Platinum ETF N	NGNPLT	156.67	159.11	1.56%
New Funds S&P NAM Bond	NFNAMA	17.18	17.22	0.23%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.00
EUR/NAD	17.62
GBP/NAD	20.04
EUR/GBP	0.87
EUR/USD	0.97
GBP/USD	1.11
AUD/USD	0.64
USD/JPY	145.00
Commodities @ 08:00
Gold	1,721.35
Silver	20.84
Platinum	928.10
Palladium	2,272.02
WTI	88.47
Brent	94.44

Table 5: Exchange Rates and Commodities 

Local News

Mineworkers Union of Namibia (MUN) says government officials who act as regulators but also maintain private business interests compromise the regulatory role the state is expected to play in labor matters. (Sun Newspaper)

The NamWater vocational training center will not enroll new students next year as the institution will realign its strategic plans (New Era Newspaper)

Namibia is set to supply Zambia with over 100,000 barrels of fuel a day through a 2,000km oil and gas pipeline stretching from Walvis Bay to Lusaka. (The Namibian)

Sub-Sahara News

Central banks around the world are in a race to increase their rates amid an inflation crisis. While the SA Reserve Bank started hiking before many others, the pressure is on not to fall behind.. (News24)

South Africa has submitted an investment plan to donors who have pledged $8.5 billion to accelerate the country’s transition to renewable energy that could serve as a model for other emerging economies, two sources familiar with the matter said. (CNBC Africa)

Security experts say Somalia's government must focus on strengthening its security system to defeat the terrorist group al-Shabab. The latest intensified military offensive against the Islamist militants sparked counterattacks in the south and central regions of the country. (All Africa News)

International News

President Joe Biden took steps to overhaul U.S. policy on marijuana on Thursday by pardoning thousands of people with federal offenses for simple marijuana possession and initiating a review of how the drug is classified. (Reuters)

European stocks bounced back on Friday, as government bond yields pulled back from recent highs and new data showed the U.K. economy has not yet fallen into a recession. (RTT News)

The United States has sanctioned a group of Myanmar businessmen and their company accused of supplying Russian-made weapons to the military regime that seized control of the country in last year’s coup. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	856,169.00	24,468,001.78	100.00%
ETFs	-	-	0.00%
Total	856,169.00	24,468,001.78	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 24,468,001.78 worth of shares was traded on the NSX on Wednesday with about N$ 2,943,683 worth of Investec Limited and N$      7,306,318 worth of Capricorn Group on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Investec Limited shares were sold off by market participants resulting in a decline in share price at closing
• Shares belonging to Capricorn Group were subscribed by market participants resulting in a 14.54% soar in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.51	42.51	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.35	13.00	14.54%
First Rand Namibia	FNB	30.56	30.56	0.00%
Standard Bank Namibia	SNO	4.71	4.71	0.00%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	0.00%
Alpha Namibia Industries Renewable Power Limited	ANE	9.00	9.00	0.00%

Table 2: Primary listed Trades

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Name	South African Dual Listed Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Anglo-American plc	ANM	583.86	575.48	-1.44%
B2Gold Corporation	B2G	59.86	60.54	1.14%
Oceana Group Limited	OCG	56.00	55.19	-1.45%
Mediclinic International Plc	MEP	99.44	99.12	-0.32%
Truworths	TRW	51.01	50.82	-0.37%
Nedbank Group Limited	NBK	197.50	197.50	0.00%
Standard Bank Group	SNB	145.46	144.90	-0.38%
Shoprite Holdings	SRH	217.55	212.92	-2.13%
FirstRand Limited	FST	61.50	60.96	-0.88%
Momentum Metropolitan Holdings	MMT	16.43	15.22	-7.36%
Old Mutual Ltd	OMM	10.06	9.63	-4.27%
Sanlam Limited	SLA	52.53	50.14	-4.55%
Santam Limited	SNM	250.59	248.50	-0.83%
Vukile Property Fund Limited	VKN	12.60	12.65	0.40%
Investec Limited	IVD	76.31	76.26	-0.07%
PSG Konsult Limited	KFS	10.73	10.88	1.40%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	283.75	284.24	0.17%
New Gold Palladium ETF	NGNPLD	400.93	386.00	-3.72%
New Gold Platinum ETF N	NGNPLT	159.24	156.67	-1.61%
New Funds S&P NAM Bond	NFNAMA	17.15	17.18	0.17%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.07
EUR/NAD	17.41
GBP/NAD	19.04
EUR/GBP	0.91
EUR/USD	0.96
GBP/USD	1.14
AUD/USD	0.64
USD/JPY	144.15
Commodities @ 08:00
Gold	1,731.30
Silver	20.83
Platinum	927.50
Palladium	2,277.52
WTI	87.57
Brent	93.21

Table 5: Exchange Rates and Commodities 

Local News

The uncapped and unmanageable routes into Namibia from Angola continue to be a headache to Namibian authorities. (Sun Newspaper)

Development Bank of Namibia (DBN) has announced that it has provided N$155 million in finance for the City of Windhoek’s Khomas substation. (New Era Newspaper)

The International Monetary fund (IMF) has again called on the government to continue cutting expenditure, rein in ever-increasing debt and not allow it to become unsustainable. (The Namibian)

Sub-Sahara News

Consultancy McKinsey SA has withdrawn from doing work for Business for South Africa, a volunteer business grouping set up to combat the Covid-19 pandemic. (News24)

Ethiopia’s government has accepted an invitation by the African Union to participate in peace talks aimed at ending a two-year conflict with rival Tigray forces, the prime minister’s national security adviser said on Wednesday. (CNBC Africa)

SADC strategies such as Vision 2050, the Regional Indicative Strategic Development Plan, and the Industrialisation Strategy and Roadmap aim to harness technological innovation to boost region-wide industrialization for sustainable and inclusive economic well-being. An anticipatory approach to industrial policymaking and governance could pave the way toward the necessary transformation articulated in these strategies. (All Africa News)

International News

North Korea fired two short-range ballistic missiles into the sea on Thursday in the direction of Japan, after the return of a U.S. aircraft carrier to the region and a U.N. Security Council meeting in response to the North's recent launches. (Reuters)

Asian stocks followed Wall Street higher on Thursday after the Bank of England stepped in to buy U.K. debt. (RTT News)

Frustrated with China’s “zero-COVID” lockdowns halting production at a moment’s notice, manufacturers are seeking alternatives to the world’s biggest economy and No 1 manufacturing hub. Vietnam, with its cheap labor, geographic proximity to China, and stable political environment, is a key beneficiary. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	260,521.00	5,167,134.08	100.00%
ETFs	-	-	0.00%
Total	260,521.00	5,167,134.08	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 5,167,134.08 worth of shares was traded on the NSX on Tuesday with about N$ 3,426,221 worth of Namibia Breweries and N$     1,174,996 worth of Oryx Properties Limited on the home front. No ETFs were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

• Namibia Breweries shares were allotted by market participants with no change in share price at closing
• Shares belonging to Oryx Properties Limited 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	42.51	42.51	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.35	11.35	0.00%
First Rand Namibia	FNB	30.56	30.56	0.00%
Standard Bank Namibia	SNO	4.71	4.71	0.00%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	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	564.45	583.86	3.44%
B2Gold Corporation	B2G	58.12	59.86	2.99%
Oceana Group Limited	OCG	55.61	56.00	0.70%
Mediclinic International Plc	MEP	99.00	99.44	0.44%
Truworths	TRW	49.88	51.01	2.27%
Nedbank Group Limited	NBK	198.51	197.50	-0.51%
Standard Bank Group	SNB	143.23	145.46	1.56%
Shoprite Holdings	SRH	215.60	217.55	0.90%
FirstRand Limited	FST	60.89	61.50	1.00%
Momentum Metropolitan Holdings	MMT	16.66	16.43	-1.38%
Old Mutual Ltd	OMM	9.89	10.06	1.72%
Sanlam Limited	SLA	51.40	52.53	2.20%
Santam Limited	SNM	248.66	250.59	0.78%
Vukile Property Fund Limited	VKN	12.32	12.60	2.27%
Investec Limited	IVD	74.00	76.31	3.12%
PSG Konsult Limited	KFS	10.65	10.73	0.75%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	281.02	283.75	0.97%
New Gold Palladium ETF	NGNPLD	388.96	400.93	3.08%
New Gold Platinum ETF N	NGNPLT	154.97	159.24	2.76%
New Funds S&P NAM Bond	NFNAMA	17.00	17.15	0.88%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.63
EUR/NAD	17.57
GBP/NAD	20.20
EUR/GBP	0.86
EUR/USD	0.99
GBP/USD	1.14
AUD/USD	0.65
USD/JPY	144.28
Commodities @ 08:00
Gold	1,730.60
Silver	20.93
Platinum	931.85
Palladium	2,332.77
WTI	86.59
Brent	91.95

Table 5: Exchange Rates and Commodities 

Local News

It is expected that about 750,000 people in Namibia may face acute food insecurity by January to March 2023. (Sun Newspaper)

Minister of Fisheries said the ministry, is in consultation with the labor ministry to try and plead for the 612 fishermen who resigned from Cavema joint venture, to get their jobs back. (New Era Newspaper)

The Communications Regulatory Authority of Namibia (Cran) has confirmed a sharp increase in “brute-force” hacking attempts in Namibia (The Namibian)

Sub-Sahara News

Eskom has started buying power from Zambia and is looking at Mozambique and the private sector for more electricity. (News24)

South African retailer Massmart Holdings MSMJ.J said on Wednesday that it had begun staff consultations about closing its Game stores in East and West Africa, after efforts to find domestic buyers for the stores failed. (CNBC Africa)

In Malawi, hundreds of refugees and asylum seekers held protests Tuesday over delays in promised cash assistance to buy food. Protesters told VOA they have waited almost four months for promised handouts and are struggling to feed their families. (All Africa News)

International News

South Korea and the U.S. military conducted rare missile drills and an American supercarrier repositioned east of North Korea after Pyongyang flew a missile over Japan, one of the allies' sharpest responses since 2017 to a North Korean weapon test. (Reuters)

Asian stocks tumbled on Wednesday as hawkish Fed talk added to worries about a looming recession. (RTT News)

Russia’s forces occupying Ukraine’s southern Black Sea region of Kherson have suffered serious territorial losses to Kyiv’s troops over recent days, maps published by Moscow’s defense ministry show (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	932,097.00	15,495,469.93	100.00%
ETFs	-	-	0.00%
Total	932,097.00	15,495,469.93	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 15,495,469.93 worth of shares was traded on the NSX on Wednesday with about N$ 1,090,880 worth of Anglo-American plc and N$ 5,175,456 worth of Capricorn Group on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s performance on the market continues to recover as the market bounce back from a sell-off trend
• Shares belonging to Capricorn Group were traded by market participants with no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.50	42.50	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.31	11.31	0.00%
First Rand Namibia	FNB	30.53	30.53	0.00%
Standard Bank Namibia	SNO	4.72	4.75	0.64%
Oryx Limited	ORY	10.27	10.27	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.02	7.01	-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	518.00	526.00	1.54%
B2Gold Corporation	B2G	51.64	52.05	0.79%
Oceana Group Limited	OCG	54.25	53.29	-1.77%
Mediclinic International Plc	MEP	94.90	95.00	0.11%
Truworths	TRW	52.25	52.65	0.77%
Nedbank Group Limited	NBK	203.50	202.04	-0.72%
Standard Bank Group	SNB	146.06	145.49	-0.39%
Shoprite Holdings	SRH	224.95	223.65	-0.58%
FirstRand Limited	FST	62.29	61.66	-1.01%
Momentum Metropolitan Holdings	MMT	17.00	16.88	-0.71%
Old Mutual Ltd	OMM	9.81	9.59	-2.24%
Sanlam Limited	SLA	52.67	51.61	-2.01%
Santam Limited	SNM	245.05	246.97	0.78%
Vukile Property Fund Limited	VKN	12.56	12.43	-1.04%
Investec Limited	IVD	71.76	70.89	-1.21%
PSG Konsult Limited	KFS	10.65	10.64	-0.09%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	276.89	276.10	-0.29%
New Gold Palladium ETF	NGNPLD	362.59	368.81	1.72%
New Gold Platinum ETF N	NGNPLT	150.73	147.72	-2.00%
New Funds S&P NAM Bond	NFNAMA	16.92	16.92	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.98
EUR/NAD	17.36
GBP/NAD	19.39
EUR/GBP	0.89
EUR/USD	0.95
GBP/USD	1.07
AUD/USD	0.64
USD/JPY	144.67
Commodities @ 08:00
Gold	1,650.60
Silver	18.61
Platinum	845.00
Palladium	2,129.77
WTI	81.37
Brent	87.25

Table 5: Exchange Rates and Commodities 

Local News

The Namibian economy expanded by 5.6% during the second quarter of 2022, compared to 5.5% registered in the corresponding quarter of 2021, according to the Namibia Statistics Agency. (Namibian Sun)

Teachers at Ekoka Combined School are unhappy that their monthly bush allowance is N$600 less than what they feel they deserve (New Era Newspaper)

Despite the government channeling N$183.4 million to the Ministry of Sport, Youth and National Service between 2013 and 2021 to create jobs for young people (The Namibian)

Sub-Sahara News

Public Enterprises Minister Pravin Gordhan has spoken out on the future of Eskom CEO André de Ruyter, saying the new board will thoroughly review the executives' performance. (News24)

Ghana’s negotiations with the International Monetary Fund over a rescue package will be fast-tracked, the country’s Finance Minister Ken Ofori-Atta said on Wednesday. (CNBC Africa)

From November 6 to 18, El Sheikh, Egypt, will host the 2022 United Nations Climate Change Conference, often known as COP27. This will be the 27th United Nations Climate Change Conference. (All Africa News)

International News

Russia was poised to annex a swath of Ukraine within days, releasing what it called vote tallies showing overwhelming support in four provinces to join it, after what Ukraine and the West denounced as illegal sham referendums held at gunpoint.. (Reuters)

Asian stocks declined on Thursday after U.S. Federal Reserve officials announced another big rate hike and reiterated their support for further interest rate hikes to curb rampant inflation. (RTT News)

Myanmar’s elected leader Aung San Suu Kyi has been found guilty of breaching the country’s official secrets act by a secretive military court, the latest of a string of convictions brought by the generals who removed her from office in a coup last year. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	343,050.00	21,681,709.44	93.69%
ETFs	9,114.00	1,461,187.14	6.31%
Total	352,164.00	23,142,896.58	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 21,681,709.44 worth of shares was traded on the NSX on Friday with about N$ 1,305,923 worth of Anglo-American plc and N$   26,105 worth of SBN Holdings Ltd on the home front. ETFs worth N$ 1,461,187.14 were traded on Friday

HEI Market Commentary

From the trading activity that took place:

• Anglo-Americans declined as concerns about stubborn inflation, higher interest rates continue to impact risk sentiments on the last day of the month
• Shares belonging to SBN Holdings Ltd were traded by market participants resulting in a minor decline in share price
• New Gold Platinum ETF N and New Gold Issuer Ltd NM were subscribed as investors try to hedge against unforeseen economic headwinds

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.50	42.51	0.02%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.31	11.35	0.35%
First Rand Namibia	FNB	30.53	30.53	0.00%
Standard Bank Namibia	SNO	4.75	4.70	-1.05%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	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	547.74	546.00	-0.32%
B2Gold Corporation	B2G	54.58	55.51	1.70%
Oceana Group Limited	OCG	53.44	53.26	-0.34%
Mediclinic International Plc	MEP	97.72	98.38	0.68%
Truworths	TRW	51.32	49.85	-2.86%
Nedbank Group Limited	NBK	198.84	199.74	0.45%
Standard Bank Group	SNB	143.13	144.00	0.61%
Shoprite Holdings	SRH	219.42	216.99	-1.11%
FirstRand Limited	FST	60.51	60.74	0.38%
Momentum Metropolitan Holdings	MMT	16.75	16.79	0.24%
Old Mutual Ltd	OMM	9.53	9.78	2.62%
Sanlam Limited	SLA	50.73	51.59	1.70%
Santam Limited	SNM	247.74	250.03	0.92%
Vukile Property Fund Limited	VKN	12.32	12.39	0.57%
Investec Limited	IVD	68.91	71.64	3.96%
PSG Konsult Limited	KFS	10.51	10.77	2.47%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	277.85	280.65	1.01%
New Gold Palladium ETF	NGNPLD	387.18	384.64	-0.66%
New Gold Platinum ETF N	NGNPLT	150.50	150.62	0.08%
New Funds S&P NAM Bond	NFNAMA	16.98	16.97	-0.06%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.99
EUR/NAD	17.67
GBP/NAD	20.23
EUR/GBP	0.87
EUR/USD	0.98
GBP/USD	1.12
AUD/USD	0.64
USD/JPY	144.80
Commodities @ 08:00
Gold	1,675.20
Silver	19.48
Platinum	866.45
Palladium	2,175.02
WTI	81.84
Brent	87.54

Table 5: Exchange Rates and Commodities 

Local News

Private sector credit extension (PSCE) growth stood at 4.6% at the end of August compared to the 3.9% at the end of July 2022. (HEI Research)

Namibia acquired a loan of N$2.3 billion from the African Development Bank to co-finance the second phase of Namibia’s governance and economic recovery support program. (GERSPII) (New Era Newspaper)

The International Monetary Fund (IMF) board has approved a new lending facility for countries faced with acute food insecurity (The Namibian)

Sub-Sahara News

Only a fraction of buildings has Energy Performance Certificates, and those that miss the 7 December deadline risk a fine of up to R5 million, imprisonment, or both. (News24)

The World Bank said it has approved a $750 million credit line for Nigeria to help the country’s 36 states push through reforms to attract investment and create jobs. (CNBC Africa)

Burkina Faso's junta leader Paul-Henri Sandaogo Damiba has agreed to step down, religious leaders said Sunday, after a mutiny within the military left the West African nation in chaos (All Africa News)

International News

Ukraine claimed full control of Russia's eastern logistics hub Lyman, its most significant battlefield gain in weeks, setting the stage for further advances aimed at cutting Russia's supply lines to its battered troops to a single route. (Reuters)

Asian stocks fell on Monday to extend recent losses, the dollar surged to new 20-year highs on rising yields, gold held at a 2-1/2-year trough and oil extended last week's losses as recession fears gripped financial markets (RTT News)

Indonesia will establish an independent fact-finding team to investigate a stampede at a football stadium in which some 125 people, including more than a dozen children, died (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	141,371.00	8,534,449.32	100.00%
ETFs	-	-	0.00%
Total	141,371.00	8,534,449.32	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 8,534,449.32 worth of shares was traded on the NSX on Thursday with about N$ 189,107 worth of Anglo-American plc and N$  51,300 worth of Oryx Properties Limited on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s performance on the market continues to recover as the market bounce back from a sell-off trend
• Shares belonging to Oryx Properties Limited were traded by market participants resulting in a minor change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.50	42.50	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.31	11.31	0.00%
First Rand Namibia	FNB	30.53	30.53	0.00%
Standard Bank Namibia	SNO	4.75	4.75	0.00%
Oryx Limited	ORY	10.27	10.26	-0.10%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.01	7.01	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	526.00	547.74	4.13%
B2Gold Corporation	B2G	52.05	54.58	4.86%
Oceana Group Limited	OCG	53.29	53.44	0.28%
Mediclinic International Plc	MEP	95.00	97.72	2.86%
Truworths	TRW	52.65	51.32	-2.53%
Nedbank Group Limited	NBK	202.04	198.84	-1.58%
Standard Bank Group	SNB	145.49	143.13	-1.62%
Shoprite Holdings	SRH	223.65	219.42	-1.89%
FirstRand Limited	FST	61.66	60.51	-1.87%
Momentum Metropolitan Holdings	MMT	16.88	16.75	-0.77%
Old Mutual Ltd	OMM	9.59	9.53	-0.63%
Sanlam Limited	SLA	51.61	50.73	-1.71%
Santam Limited	SNM	246.97	247.74	0.31%
Vukile Property Fund Limited	VKN	12.43	12.32	-0.88%
Investec Limited	IVD	70.89	68.91	-2.79%
PSG Konsult Limited	KFS	10.64	10.51	-1.22%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	276.10	277.85	0.63%
New Gold Palladium ETF	NGNPLD	368.81	387.18	4.98%
New Gold Platinum ETF N	NGNPLT	147.72	150.50	1.88%
New Funds S&P NAM Bond	NFNAMA	16.92	16.98	0.35%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.97
EUR/NAD	17.65
GBP/NAD	20.03
EUR/GBP	0.89
EUR/USD	0.98
GBP/USD	1.11
AUD/USD	0.64
USD/JPY	144.52
Commodities @ 08:00
Gold	1,675.40
Silver	18.94
Platinum	866.15
Palladium	2,188.77
WTI	81.32
Brent	87.41

Table 5: Exchange Rates and Commodities 

Local News

The auditors of Grand Namibia and BDO Namibia have since 2019 been concerned about Trustco Bank Namibia’s (TBN) ability to continue as a going concern because of the huge losses it has suffered. (Namibian Sun)

The Environmental and Social Impact Assessment report by the Environmental Compliance Consultancy reveals that it has been determined that the fishing industry would be able to co-exist with the phosphate industry (New Era Newspaper)

Namibia has been ranked third among nations with the highest wealth per capita in Africa after Mauritius and South Africa (The Namibian)

Sub-Sahara News

Eskom, which is under an unprecedented financial strain, received another blow on Thursday when the CCMA awarded employees a further 1.5% wage increase, backdated to July 2021. (News24)

Porsche AG made its debut on the stock market on Thursday, with a price tag of about 75 billion euros ($72.45 billion) after Volkswagen priced shares at the top end of the range, braving turbulent market conditions. (CNBC Africa)

Global hydrogen demand reached 94 million tons in 2021 and contained energy equal to about 2.5% of global final energy consumption. Only about 0.1% of current global hydrogen production is green, but big expansions are planned. (All Africa News)

International News

Russian President Vladimir Putin was set to host a Kremlin ceremony on Friday annexing four regions of Ukraine, while his Ukrainian counterpart said Putin would have to be stopped for Russia to avoid the most damaging consequences of the war. (Reuters)

U.K. stocks tumbled on Friday to extend losses from the previous session amid concerns about a potential global recession. (RTT News)

International warnings about efforts to “subvert democracy” in Brazil are growing, just days before voters head to the polls for a presidential election that has deepened divisions in the South American nation. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	932,097.00	15,495,469.93	100.00%
ETFs	-	-	0.00%
Total	932,097.00	15,495,469.93	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 15,495,469.93 worth of shares was traded on the NSX on Wednesday with about N$ 1,090,880 worth of Anglo-American plc and N$ 5,175,456 worth of Capricorn Group on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s performance on the market continues to recover as the market bounce back from a sell-off trend
• Shares belonging to Capricorn Group were traded by market participants with no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.50	42.50	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.31	11.31	0.00%
First Rand Namibia	FNB	30.53	30.53	0.00%
Standard Bank Namibia	SNO	4.72	4.75	0.64%
Oryx Limited	ORY	10.27	10.27	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	0.00%
Mobile Telecommunication Company	MOC	7.02	7.01	-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	518.00	526.00	1.54%
B2Gold Corporation	B2G	51.64	52.05	0.79%
Oceana Group Limited	OCG	54.25	53.29	-1.77%
Mediclinic International Plc	MEP	94.90	95.00	0.11%
Truworths	TRW	52.25	52.65	0.77%
Nedbank Group Limited	NBK	203.50	202.04	-0.72%
Standard Bank Group	SNB	146.06	145.49	-0.39%
Shoprite Holdings	SRH	224.95	223.65	-0.58%
FirstRand Limited	FST	62.29	61.66	-1.01%
Momentum Metropolitan Holdings	MMT	17.00	16.88	-0.71%
Old Mutual Ltd	OMM	9.81	9.59	-2.24%
Sanlam Limited	SLA	52.67	51.61	-2.01%
Santam Limited	SNM	245.05	246.97	0.78%
Vukile Property Fund Limited	VKN	12.56	12.43	-1.04%
Investec Limited	IVD	71.76	70.89	-1.21%
PSG Konsult Limited	KFS	10.65	10.64	-0.09%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	276.89	276.10	-0.29%
New Gold Palladium ETF	NGNPLD	362.59	368.81	1.72%
New Gold Platinum ETF N	NGNPLT	150.73	147.72	-2.00%
New Funds S&P NAM Bond	NFNAMA	16.92	16.92	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	17.98
EUR/NAD	17.36
GBP/NAD	19.39
EUR/GBP	0.89
EUR/USD	0.95
GBP/USD	1.07
AUD/USD	0.64
USD/JPY	144.67
Commodities @ 08:00
Gold	1,650.60
Silver	18.61
Platinum	845.00
Palladium	2,129.77
WTI	81.37
Brent	87.25

Table 5: Exchange Rates and Commodities 

Local News

The Namibian economy expanded by 5.6% during the second quarter of 2022, compared to 5.5% registered in the corresponding quarter of 2021, according to the Namibia Statistics Agency. (Namibian Sun)

Teachers at Ekoka Combined School are unhappy that their monthly bush allowance is N$600 less than what they feel they deserve (New Era Newspaper)

Despite the government channeling N$183.4 million to the Ministry of Sport, Youth and National Service between 2013 and 2021 to create jobs for young people (The Namibian)

Sub-Sahara News

Public Enterprises Minister Pravin Gordhan has spoken out on the future of Eskom CEO André de Ruyter, saying the new board will thoroughly review the executives' performance. (News24)

Ghana’s negotiations with the International Monetary Fund over a rescue package will be fast-tracked, the country’s Finance Minister Ken Ofori-Atta said on Wednesday. (CNBC Africa)

From November 6 to 18, El Sheikh, Egypt, will host the 2022 United Nations Climate Change Conference, often known as COP27. This will be the 27th United Nations Climate Change Conference. (All Africa News)

International News

Russia was poised to annex a swath of Ukraine within days, releasing what it called vote tallies showing overwhelming support in four provinces to join it, after what Ukraine and the West denounced as illegal sham referendums held at gunpoint.. (Reuters)

Asian stocks declined on Thursday after U.S. Federal Reserve officials announced another big rate hike and reiterated their support for further interest rate hikes to curb rampant inflation. (RTT News)

Myanmar’s elected leader Aung San Suu Kyi has been found guilty of breaching the country’s official secrets act by a secretive military court, the latest of a string of convictions brought by the generals who removed her from office in a coup last year. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	264,974.00	9,494,363.89	100.00%
ETFs	-	-	0.00%
Total	264,974.00	9,494,363.89	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$  9,494,363.89 worth of shares was traded on the NSX on Tuesday with about N$ 1,662,612 worth of Anglo-American plc and N$ 1,444,117 worth of Capricorn Group on the home front. No ETFs were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s performance on the market slightly recovered as market participants stabilizes their portfolios
• Shares belonging to Capricorn Group were traded contributing to a soaring in share price by 1.8% at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	42.49	42.50	0.02%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.11	11.31	1.80%
First Rand Namibia	FNB	30.53	30.53	0.00%
Standard Bank Namibia	SNO	4.71	4.72	0.21%
Oryx Limited	ORY	10.27	10.27	0.00%
Letshego	LHN	2.67	2.67	0.00%
Namibia Asset Management	NAM	0.67	0.67	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	12.99	12.99	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	512.52	518.00	1.07%
B2Gold Corporation	B2G	53.71	51.64	-3.85%
Oceana Group Limited	OCG	54.25	54.25	0.00%
Mediclinic International Plc	MEP	95.64	94.90	-0.77%
Truworths	TRW	52.25	52.25	0.00%
Nedbank Group Limited	NBK	200.00	203.50	1.75%
Standard Bank Group	SNB	143.60	146.06	1.71%
Shoprite Holdings	SRH	219.94	224.95	2.28%
FirstRand Limited	FST	61.20	62.29	1.78%
Momentum Metropolitan Holdings	MMT	16.66	17.00	2.04%
Old Mutual Ltd	OMM	9.81	9.81	0.00%
Sanlam Limited	SLA	52.10	52.67	1.09%
Santam Limited	SNM	242.15	245.05	1.20%
Vukile Property Fund Limited	VKN	12.42	12.56	1.13%
Investec Limited	IVD	74.47	71.76	-3.64%
PSG Konsult Limited	KFS	10.46	10.65	1.82%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	276.89	276.89	0.00%
New Gold Palladium ETF	NGNPLD	362.59	362.59	0.00%
New Gold Platinum ETF N	NGNPLT	150.73	150.73	0.00%
New Funds S&P NAM Bond	NFNAMA	16.92	16.92	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.11
EUR/NAD	17.33
GBP/NAD	19.35
EUR/GBP	0.89
EUR/USD	0.95
GBP/USD	1.06
AUD/USD	0.63
USD/JPY	144.68
Commodities @ 08:00
Gold	1,629.00
Silver	18.08
Platinum	830.70
Palladium	2,067.52
WTI	77.34
Brent	83.68

Table 5: Exchange Rates and Commodities 

Local News

Bulk utility service providers NamWater and NamPower say suggestions for them to write off debts owed by local authorities do not make business sense and could leave them unable to provide services.(Namibian Sun)

The small pelagic industry has said the true state of the pilchard fishery may never be known as the current research methods do not give a clear indication on the recovery of the stock  (New Era Newspaper)

TrustCo Group Holdings and its subsidiary Trustco Bank Namibia have filed a case in the High Court in a bid to review several directives and decisions issued by the Bank of Namibia linked to the central bank denying Trustco a full commercial banking license (The Namibian)

Sub-Sahara News

In five years, Eskom went from predicting that SA would have an 8GW surplus of capacity to a 6GW deficit. At the heart of our energy crisis is the collapse of its coal fleet. (News24)

Kenyan President William Ruto on Tuesday appointed former central bank governor Njuguna Ndung’u as finance minister to steer the economy through rising inflation, a heavy debt burden, and drought. (CNBC Africa)

Guineans hope the wait for justice will soon come to an end 13 years after a massacre that killed at least 157 people. Ex-junta leader Moussa Camara and his former lieutenants are expected to face the judge.. (All Africa News)

International News

The suspected sabotage against the Nord Stream gas pipelines does not constitute an attack on Sweden, Foreign Minister Ann Linde told SVT public television on Wednesday. (Reuters)

European stocks traded mixed on Wednesday, as investors awaited a Federal Reserve rate decision and monitored increased political tensions with Russia. (RTT News)

US President Joe Biden will host leaders from the Pacific Islands this week in what the White House is billing as a first-of-its-kind regional leaders summit in Washington, amid increasing rivalry between the United States and China in the Pacific. (Aljazeera News)