Category: Equity Market Research

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	147,711.00	13,430,511.98	98.97%
ETFs	447.00	140,447.40	1.03%
Total	148,158.00	13,570,959.38	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 13,430,511.98 worth of shares was traded on the NSX on Monday with about N$  2,072,697 worth of shares belonging to Anglo-American and N$  229,797 worth of Oryx Properties Limited on the home front. ETFs worth N$ 140,447.40 were traded on Monday

HEI Market Commentary

From the trading activity that took place:

• Following the release of the NSENS announcement regarding the annual results report, Anglo-American's share performance experienced a sell-off, resulting in a decline of 3.68% on the overall bourse.
• Shares of Oryx Properties Limited were traded on the domestic exchange, leading to a surge of 1.05% in the company's share price performance.

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	1.90	1.90	0.00%
Capricorn	CGP	13.80	13.80	0.00%
First Rand Namibia	FNB	33.57	34.01	1.31%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.50	1.05%
Letshego	LHN	3.52	3.52	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	12.85	12.85	0.00%
Mobile Telecommunication Company	MOC	7.09	7.09	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	662.87	638.45	-3.68%
B2Gold Corporation	B2G	64.72	64.72	0.00%
Oceana Group Limited	OCG	72.85	72.61	-0.33%
Mediclinic International Plc	MEP	107.66	108.92	1.17%
Truworths	TRW	59.24	59.51	0.46%
Nedbank Group Limited	NBK	232.32	233.83	0.65%
Standard Bank Group	SNB	183.11	187.36	2.32%
Shoprite Holdings	SRH	222.83	225.00	0.97%
FirstRand Limited	FST	66.90	67.00	0.15%
Momentum Metropolitan Holdings	MMT	19.52	19.54	0.10%
Old Mutual Ltd	OMM	12.29	12.28	-0.08%
Sanlam Limited	SLA	59.02	59.13	0.19%
Santam Limited	SNM	300.10	306.48	2.13%
Vukile Property Fund Limited	VKN	13.60	13.66	0.44%
Investec Limited	IVD	111.62	114.12	2.24%
PSG Konsult Limited	KFS	12.69	12.66	-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	311.93	314.74	0.90%
New Gold Palladium ETF	NGNPLD	253.16	251.57	-0.63%
New Gold Platinum ETF N	NGNPLT	169.42	170.81	0.82%
New Funds S&P NAM Bond	NFNAMA	18.20	18.20	0.00%

Table 4: ETFs

Exchange Rates @ 07:00
USD/NAD	18.24
EUR/NAD	19.49
GBP/NAD	21.96
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.20
AUD/USD	0.67
USD/JPY	136.01
Commodities @ 07:00
Gold	1,854.05
Silver	21.17
Platinum	979.50
Palladium	1,432.78
WTI	80.67
Brent	86.42

Table 5: Exchange Rates and Commodities 

Local News

Oil minister Tom Alweendo says one of the key ways to ensure that Namibians enjoy meaningful participation in oil discovered locally is through joint ventures with foreign entities with required capabilities. (Sun Newspaper)

An Angolan businessman has partnered with two local businessmen to set up an oil and gas training academy at Walvis Bay. (New Era Newspaper)

The National Petroleum Corporation of Namibia (Namcor) has announced a third oil discovery in the Orange Basin off Namibia's southern coast. (The Namibian Newspaper)

Sub-Sahara News

The Special Investigating Unit (SIU) says it has managed to recover R18 million from law firms and attorneys that received duplicate payments from the Road Accident Fund (RAF). In the first phase of its probe, the SIU said it had identified 102 law firms that received duplicate payments from the RAF of approximately R340 million. (News24)

South African President Cyril Ramaphosa on Monday appointed a new electricity minister in an effort to try to solve the worst power cuts on record in the country, and he added several other allies to his cabinet ahead of a general election next year. (CNBC Africa)

The World Health Organisation (WHO) is exploring a two-pronged intervention strategy aimed at assisting Zimbabwe to beat a biting health sector brain drain following high-level representations from Government, the United Nations' health promotion agency has said. (All Africa News)

International News

Ukraine's top generals have vowed to keep defending the eastern city of Bakhmut, President Volodymyr Zelenskiy said, as Russian forces fought to tighten their siege and secure their first major battlefield gain in more than six months. (Reuters)

Asian stocks ended mostly higher on Tuesday as China recovery hopes outweighed concerns about further increases in U.S. interest rates (RTT News)

North Korea has said that any move to intercept and shoot down its test missiles would be considered “a declaration of war”. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	277,620.00	27,443,875.29	100.00%
ETFs	-	-	0.00%
Total	277,620.00	27,443,875.29	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 27,443,875.29 worth of shares was traded on the NSX on Thursday with about N$ 5,587,380 worth of shares belonging to Shoprite Holdings and N$ 14,661 worth of Letshego Holdings on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Shoprite Holdings’ share performance on the overall bourse increased by 0.1 percent as market participants adjust their portfolios.
• Letshego Holdings shares were traded on the local bourse, resulting in no change in share price performance.

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	1.90	1.90	0.00%
Capricorn	CGP	13.80	13.80	0.00%
First Rand Namibia	FNB	33.57	33.57	0.00%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.52	3.52	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	12.85	12.85	0.00%
Mobile Telecommunication Company	MOC	7.09	7.09	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	651.93	647.16	-0.73%
B2Gold Corporation	B2G	62.63	65.29	4.25%
Oceana Group Limited	OCG	74.25	72.96	-1.74%
Mediclinic International Plc	MEP	108.77	108.20	-0.52%
Truworths	TRW	60.54	58.77	-2.92%
Nedbank Group Limited	NBK	233.74	229.23	-1.93%
Standard Bank Group	SNB	185.69	183.20	-1.34%
Shoprite Holdings	SRH	223.37	223.68	0.14%
FirstRand Limited	FST	66.83	66.89	0.09%
Momentum Metropolitan Holdings	MMT	19.96	19.63	-1.65%
Old Mutual Ltd	OMM	12.00	12.12	1.00%
Sanlam Limited	SLA	59.89	58.35	-2.57%
Santam Limited	SNM	303.44	297.27	-2.03%
Vukile Property Fund Limited	VKN	13.66	13.60	-0.44%
Investec Limited	IVD	116.24	110.37	-5.05%
PSG Konsult Limited	KFS	12.61	12.61	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	311.54	311.25	-0.09%
New Gold Palladium ETF	NGNPLD	252.19	252.34	0.06%
New Gold Platinum ETF N	NGNPLT	168.66	168.05	-0.36%
New Funds S&P NAM Bond	NFNAMA	18.20	18.20	0.00%

Table 4: ETFs

Exchange Rates @ 07:00
USD/NAD	18.19
EUR/NAD	19.29
GBP/NAD	21.76
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.19
AUD/USD	0.67
USD/JPY	136.70
Commodities @ 07:00
Gold	1,844.95
Silver	21.07
Platinum	967.45
Palladium	1,448.50
WTI	78.00
Brent	84.59

Table 5: Exchange Rates and Commodities 

Local News

According to the Bank of Namibia (BoN), private sector credit extension (PSCE) growth stood at 2.6% year-on-year at the end of January 2023 compared to 4.2% at the end of December 2022 (HEI Research)

The Namibian Competition Commission on 10 February 2023 resolved to initiate an investigation against NamPower, Telecom Namibia, and MTC for alleged exclusive dealings in the dark optic fiber infrastructure. (New Era Newspaper)

Information and communication minister Peya Mushelenga said the cabinet has endorsed a request to create a category of “very very important persons” (VVIP) diplomatic passports. (The Namibian Newspaper)

Sub-Sahara News

It is true that South Africa is preparing a plan to ration electricity, including up to what you could – but engineers would not – call stage Stage 16, and even beyond. (News24)

Countries in debt distress such as Zambia and Sri Lanka turning to the International Monetary Fund (IMF) for financial help are facing unprecedented delays to secure bailouts as China and Western economies clash over how to provide debt relief. (CNBC Africa)

Researchers have found that cheaper and more accessible blood testing methods can improve the care of patients with chronic hepatitis B in Africa. (All Africa News)

International News

Top energy executives and officials from around the world will descend on Houston next week just as the political fallout from Russia's invasion of Ukraine a year ago continues to distort global oil supply lines and put long-term energy security front of mind for governments. (Reuters)

K car production dropped only slightly in January as the output of electrified vehicles increased sharply, data from the Society of Motor Manufacturers and Traders showed Friday. (RTT News)

A meeting of the Group of 20 has ended without a consensus on the Ukraine war as China joined Russia in refusing to support a demand for Moscow to cease hostilities. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	160,170.00	16,714,692.78	95.78%
ETFs	2,371.00	736,195.50	4.22%
Total	162,541.00	17,450,888.28	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 16,714,692.78 worth of shares was traded on the NSX on Wednesday with about N$ 74,379 worth of shares belonging to Anglo-American plc and N$ 635,076 worth of Namibia Breweries on the home front. ETFs worth N$ 736,195.50 were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American share performance on the overall bourse increased by 2.4% as market participants subscribes to the company.
• Namibia Breweries shares were traded on the local bourse, resulting in no change in share price performance
• New Gold Issuer Ltd NM ETFs were allotted by market participants

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	1.90	1.90	0.00%
Capricorn	CGP	13.79	13.80	0.07%
First Rand Namibia	FNB	33.53	33.57	0.12%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.52	3.52	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	12.85	12.85	0.00%
Mobile Telecommunication Company	MOC	7.09	7.09	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	636.67	651.93	2.40%
B2Gold Corporation	B2G	62.34	62.63	0.47%
Oceana Group Limited	OCG	72.50	74.25	2.41%
Mediclinic International Plc	MEP	110.85	108.77	-1.88%
Truworths	TRW	59.17	60.54	2.32%
Nedbank Group Limited	NBK	230.58	233.74	1.37%
Standard Bank Group	SNB	183.58	185.69	1.15%
Shoprite Holdings	SRH	222.54	223.37	0.37%
FirstRand Limited	FST	65.55	66.83	1.95%
Momentum Metropolitan Holdings	MMT	19.86	19.96	0.50%
Old Mutual Ltd	OMM	11.91	12.00	0.76%
Sanlam Limited	SLA	59.83	59.89	0.10%
Santam Limited	SNM	295.68	303.44	2.62%
Vukile Property Fund Limited	VKN	13.42	13.66	1.79%
Investec Limited	IVD	117.42	116.24	-1.00%
PSG Konsult Limited	KFS	12.99	12.61	-2.93%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	311.34	311.54	0.06%
New Gold Palladium ETF	NGNPLD	249.62	252.19	1.03%
New Gold Platinum ETF N	NGNPLT	168.10	168.66	0.33%
New Funds S&P NAM Bond	NFNAMA	18.20	18.20	0.00%

Table 4: ETFs

Exchange Rates @ 07:00
USD/NAD	18.19
EUR/NAD	19.36
GBP/NAD	21.83
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.20
AUD/USD	0.67
USD/JPY	136.46
Commodities @ 07:00
Gold	1,840.55
Silver	21.03
Platinum	959.15
Palladium	1,428.50
WTI	77.78
Brent	84.42

Table 5: Exchange Rates and Commodities 

Local News

FirstRand Namibia’s earnings for the six months ended 31 December 2022 increased by 36% to N$845 million (Sun Newspaper)

The launch of the Transport Registers and Information Platform System and the Corridor Trip Monitoring System took place yesterday in Windhoek. (New Era Newspaper)

The Namibia Statistics Agency (NSA) plans to recruit approximately 13 000 temporary workers to help conduct the 2023 Population and Housing Census. (The Namibian Newspaper)

Sub-Sahara News

The Gauteng Department of Human Settlements (GDHS) bought three land parcels on 13 March 2019, handing an instant paper profit of R158.7 million to Landworth, a company owned by real estate mogul Ralebala "Rali" Mampeule. (News24)

Listed engineering and mining contractor, Murray & Roberts, posted another interim headline loss per share of 30 cents per share but did see a tick up in near orders to the tune of a 3 billion rand increase in the six months to December 2021. (CNBC Africa)

Environment Minister Yasmin Fouad has announced that a grant worth 9.13 million dollars will be provided by the Global Environment Facility (GEF) to expand the range of a project for managing air pollution and climate change in Greater Cairo (All Africa News)

International News

Tesla Inc (TSLA.O) will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but Chief Executive Elon Musk did not unveil when it will debut a much-awaited affordable electric vehicle. (Reuters)

European stocks are likely to open on a positive note Thursday after the U.S. Fed's minutes from the January 31-February 1 meeting contained no new surprises. (RTT News)

North Korean leader Kim Jong Un has urged officials to meet agricultural production targets amid reported food shortages, declaring “nothing is impossible” under the leadership of the ruling Workers’ Party. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	441,920.00	63,260,732.32	100.00%
ETFs	-	-	0.00%
Total	441,920.00	63,260,732.32	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 63,260,732.32 worth of shares was traded on the NSX on Monday with about N$9,127,200 worth of shares belonging to Truworths and N$ 124,875 worth of SBN Holdings Ltd on the home front. No ETFs were traded on Monday.

HEI Market Commentary

From the trading activity that took place:

• Truworth's share performance on the overall bourse declined as market participants liquidates their positions over concerns regarding costs, sales, and who would be the next CEO.
• SBN Holdings shares were traded  on the local bourse resulting in share price soaring by 1.2%

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	1.90	1.90	0.00%
Capricorn	CGP	13.79	13.79	0.00%
First Rand Namibia	FNB	33.53	33.53	0.00%
Standard Bank Namibia	SNO	5.19	5.25	1.16%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.52	3.52	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	12.85	12.85	0.00%
Mobile Telecommunication Company	MOC	7.09	7.09	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	629.90	634.85	0.79%
B2Gold Corporation	B2G	59.19	61.11	3.24%
Oceana Group Limited	OCG	68.96	68.40	-0.81%
Mediclinic International Plc	MEP	109.50	109.58	0.07%
Truworths	TRW	61.23	60.46	-1.26%
Nedbank Group Limited	NBK	230.08	230.79	0.31%
Standard Bank Group	SNB	181.07	182.00	0.51%
Shoprite Holdings	SRH	225.63	224.74	-0.39%
FirstRand Limited	FST	65.11	65.23	0.18%
Momentum Metropolitan Holdings	MMT	19.43	19.38	-0.26%
Old Mutual Ltd	OMM	11.75	11.81	0.51%
Sanlam Limited	SLA	58.04	58.35	0.53%
Santam Limited	SNM	285.13	288.11	1.05%
Vukile Property Fund Limited	VKN	13.10	13.17	0.53%
Investec Limited	IVD	113.54	115.86	2.04%
PSG Konsult Limited	KFS	12.61	12.39	-1.74%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	310.83	311.44	0.20%
New Gold Palladium ETF	NGNPLD	246.84	256.96	4.10%
New Gold Platinum ETF N	NGNPLT	162.81	166.57	2.31%
New Funds S&P NAM Bond	NFNAMA	18.18	18.18	0.00%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.43
EUR/NAD	19.52
GBP/NAD	22.21
EUR/GBP	0.87
EUR/USD	1.05
GBP/USD	1.20
AUD/USD	0.67
USD/JPY	136.28
Commodities @ 08:00
Gold	1,820.90
Silver	20.66
Platinum	941.25
Palladium	1,416.78
WTI	75.95
Brent	82.25

Table 5: Exchange Rates and Commodities 

Local News

Beef exports from Namibia's northern communal areas (NCAs) do not carry foot-and-mouth disease (FMD) and pose no risk of introducing the disease in market countries, in particular, the Ghanaian market (Sun Newspaper)

Preliminary outturns in many respects point to improving fiscal fundamentals aligned to positive domestic economic growth prospects and buoyancy arising from tax administration reforms, Finance and Public Enterprises Minister Iipumbu Shiimi has said. (New Era Newspaper)

The Southern African Customs Union has appointed Thabo David Khasipe as its new executive secretary as of 1 February 2023. (The Namibian Newspaper)

Sub-Sahara News

Public Enterprises Minister Pravin Gordhan confirmed that former Eskom CEO Andre de Ruyter spoke to him about corruption at the power utility, but never presented any evidence. (News24)

Outsider Peter Obi defeated his ruling party challenger to win Nigeria’s commercial hub of Lagos on Monday, in an upset two days after a presidential election marred by delays and complaints of irregularities. (CNBC Africa)

President Emmanuel Macron announced on Monday a "noticeable reduction" of France's troop presence in Africa following a withdrawal from Mali and Burkina Faso after years fighting jihadists there.

"The change will happen in the coming months with a noticeable reduction of our numbers and a greater presence in these bases of our African partners," Macron said ahead of a four-nation African tour. (All Africa News)

International News

The Biden administration announced measures to crack down on child labor on Monday amid a steep rise in violations and investigative reports by Reuters and other news outlets on illegal employment of migrant minors in dangerous U.S. industries. (Reuters)

European stocks may open on a cautious note Tuesday as investors weigh geopolitical tensions and the prospect of more U.S. interest rate hikes. (RTT News)

Israeli settlers have carried out at least 300 attacks, including shootings and arson, in a rampage through Palestinian villages in the Nablus area of the occupied West Bank, Palestinian officials say, in what has been described as a “pogrom”. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	1,297,623.00	18,821,499.28	100.00%
ETFs	-	-	0.00%
Total	1,297,623.00	18,821,499.28	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 18,821,499.28 worth of shares was traded on the NSX on Thursday with about N$ 538,213 worth of shares belonging to Shoprite Holdings and N$ 16,419,597 worth of Capricorn Group Limited on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Shoprite Holdings' share performance on the overall bourse increased as market participants find comfort in consumer staples investment securities
• Capricorn Group Limited shares were the most traded shares on the local bourse valued at N$ 16,419,597 as the group released its interim financial statements for the six months ended 31 December 2022

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	1.90	1.90	0.00%
Capricorn	CGP	13.79	13.79	0.00%
First Rand Namibia	FNB	33.53	33.53	0.00%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.51	3.52	0.28%
Namibia Asset Management	NAM	0.68	0.68	0.00%
Stimulus	SILP	127.90	127.90	0.00%
Paratus Namibia Holdings Ltd	PNH	13.19	12.85	-2.58%
Mobile Telecommunication Company	MOC	7.09	7.09	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	669.99	677.25	1.08%
B2Gold Corporation	B2G	59.54	59.31	-0.39%
Oceana Group Limited	OCG	71.25	70.38	-1.22%
Mediclinic International Plc	MEP	109.56	109.64	0.07%
Truworths	TRW	67.52	63.84	-5.45%
Nedbank Group Limited	NBK	234.53	237.38	1.22%
Standard Bank Group	SNB	184.13	186.86	1.48%
Shoprite Holdings	SRH	227.57	231.87	1.89%
FirstRand Limited	FST	65.39	67.52	3.26%
Momentum Metropolitan Holdings	MMT	19.64	19.89	1.27%
Old Mutual Ltd	OMM	11.60	11.88	2.41%
Sanlam Limited	SLA	57.80	58.49	1.19%
Santam Limited	SNM	286.21	288.14	0.67%
Vukile Property Fund Limited	VKN	12.80	13.06	2.03%
Investec Limited	IVD	115.16	116.86	1.48%
PSG Konsult Limited	KFS	12.32	12.39	0.57%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	310.47	310.61	0.05%
New Gold Palladium ETF	NGNPLD	264.46	258.29	-2.33%
New Gold Platinum ETF N	NGNPLT	167.74	168.02	0.17%
New Funds S&P NAM Bond	NFNAMA	18.16	18.06	-0.55%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.20
EUR/NAD	19.29
GBP/NAD	21.89
EUR/GBP	0.88
EUR/USD	1.05
GBP/USD	1.20
AUD/USD	0.68
USD/JPY	134.56
Commodities @ 08:00
Gold	1,832.20
Silver	21.29
Platinum	948.85
Palladium	1,441.53
WTI	75.94
Brent	82.82

Table 5: Exchange Rates and Commodities 

Local News

Locally-listed Capricorn Group Limited achieved solid results with profit after tax of about N$698.2 million for the six months ended 31 December 2022 – an increase of 20.3% compared to the prior period. Releasing its latest interim financials on the Namibian Stock Exchange (NSX) this morning. (Sun Newspaper)

The Prime Minister of the Kingdom of Eswatini Cleopas Sipho Dlamini, as the current chair of the Southern African Customs Union (SACU), officially announced the finalisation of the SACU Tariff Offer on 18 February 2023. (New Era Newspaper)

Bond prices sky-rocked, offsetting sovereign yields on a downward trajectory amid the NamibiaN budget statement released on Wednesday (HEI Research)

Sub-Sahara News

Eskom chief financial officer Calib Cassim has been appointed as interim CEO following the abrupt departure of André de Ruyter. He takes on the role with immediate effect, until further notice, the power utility said in a statement on Friday. (News24)

Investors welcomed plans by South Africa’s government to take on some 60% of Eskom’s debt over the next three years, saying it could pave the way to a sustainable future for the troubled state utility. (CNBC Africa)

Food and Agriculture Organization of the United Nations (FAO) Director-General QU Dongyu, has urged African leaders and experts to find solutions on how water can be used in a sustainable and equitable way that conserves the precious liquid. (All Africa News)

International News

North Korea test-fired four strategic cruise missiles during a drill designed to demonstrate its ability to conduct a nuclear counterattack against hostile forces, its state media said on Friday. (Reuters)

Asian stocks retreated on Friday as hotter-than-expected U.S. producer price data coupled with hawkish comments from two Federal Reserve officials stoked worries about further interest rate hikes (RTT News)

The United Nations General Assembly (UNGA) has voted overwhelmingly in favor of a resolution demanding Moscow withdraw its troops from Ukraine and end the fighting, a year after Russia launched its invasion. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	15,060.00	2,796,199.13	100.00%
ETFs	-	-	0.00%
Total	15,060.00	2,796,199.13	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 2,796,199.13 worth of shares was traded on the NSX on Wednesday with about N$ 2,376,062 worth of shares belonging to Anglo-American plc and N$ 68,553 worth of Mobile Telecommunications Limited shares on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse still remains below the N$700 price level
• Mobile Telecommunications Limited shares were subscribed by market participants resulting in a slight increase in share price by 0.28%

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	1.90	1.90	0.00%
Capricorn	CGP	13.79	13.79	0.00%
First Rand Namibia	FNB	33.53	33.53	0.00%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.51	3.51	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	13.19	13.19	0.00%
Mobile Telecommunication Company	MOC	7.07	7.09	0.28%
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	699.29	669.99	-4.19%
B2Gold Corporation	B2G	60.29	59.54	-1.24%
Oceana Group Limited	OCG	69.20	71.25	2.96%
Mediclinic International Plc	MEP	109.50	109.56	0.05%
Truworths	TRW	67.00	67.52	0.78%
Nedbank Group Limited	NBK	229.78	234.53	2.07%
Standard Bank Group	SNB	177.25	184.13	3.88%
Shoprite Holdings	SRH	228.39	227.57	-0.36%
FirstRand Limited	FST	65.05	65.39	0.52%
Momentum Metropolitan Holdings	MMT	19.41	19.64	1.18%
Old Mutual Ltd	OMM	11.89	11.60	-2.44%
Sanlam Limited	SLA	58.16	57.80	-0.62%
Santam Limited	SNM	288.36	286.21	-0.75%
Vukile Property Fund Limited	VKN	12.78	12.80	0.16%
Investec Limited	IVD	115.17	115.16	-0.01%
PSG Konsult Limited	KFS	12.33	12.32	-0.08%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	312.54	310.47	-0.66%
New Gold Palladium ETF	NGNPLD	269.96	264.46	-2.04%
New Gold Platinum ETF N	NGNPLT	164.36	167.74	2.06%
New Funds S&P NAM Bond	NFNAMA	18.11	18.16	0.28%

Table 4: ETFs

Exchange Rates @ 08:00
USD/NAD	18.23
EUR/NAD	19.35
GBP/NAD	21.98
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.20
AUD/USD	0.68
USD/JPY	134.84
Commodities @ 08:00
Gold	1,836.35
Silver	21.61
Platinum	954.25
Palladium	1,477.28
WTI	74.31
Brent	80.94

Table 5: Exchange Rates and Commodities 

Local News

Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, has announced a donation of N$1 million to strengthen maternity facilities with construction of a maternity ward at Rupara Health Centre in Kavango West Region. (Sun Newspaper)

Otjinene village in the Omaheke region has been experiencing a relatively high investor inflow for the past years. Otjinene Village Council CEO Ingenesia Kaveterua said this is mainly due to the village’s comparative strategic location.. (New Era Newspaper)

Finance Minister Shiimi stated that the country has a better revenue forecasts, as it collected over 16.5% higher than the revised estimates of revenue (HEI Research)

Sub-Sahara News

Finance Minister Enoch Godongwana tabled the Budget in Parliament on Wednesday, where he noted that the spending plans are mostly for strategic projects in transport and water and sanitation. (News24)

Eskom’s dollar-denominated bonds rose on Wednesday, after South Africa’s Treasury said the government would take on part of the struggling state-owned power utility’s $22 billion debt. (CNBC Africa)

The Supreme Court on Wednesday fixed 3 March for judgement in a suit filed by some state governments challenging the federal government's naira redesign policy. (All Africa News)

International News

The last remaining treaty that limits Russian and U.S. nuclear weapons was already in grave peril before President Vladimir Putin announced on Tuesday that Moscow was suspending its participation. (Reuters)

Markets in Europe are expected to open on a strong note on Thursday tracking the bullish momentum in the Asian markets as well as the rally in Wall Street, a day earlier. (RTT News)

A team of influential economists has urged China to adopt a new development model based on “wellbeing” rather than gross domestic product (GDP) growth to fulfil its 2060 net-zero emissions goals and head off the mounting threats of climate change (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	138,626.00	22,440,093.69	100.00%
ETFs	-	-	0.00%
Total	138,626.00	22,440,093.69	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 22,440,093.69 worth of shares was traded on the NSX on Tuesday with about N$ 10,413,765 worth of shares belonging to Anglo-American plc and N$ 193,599 worth of Capricorn Group shares on the home front. No ETFs were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse declined below the N$700 price level amid Kumba Iron Ore's 2022 annual results
• Capricorn Group’s shares were sold off by market participants resulting in a slight decline in share price by 0.1%

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	1.90	1.90	0.00%
Capricorn	CGP	13.80	13.79	-0.01%
First Rand Namibia	FNB	33.53	33.53	0.00%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.51	3.51	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	13.19	13.19	0.00%
Mobile Telecommunication Company	MOC	7.07	7.07	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	723.37	699.29	-3.33%
B2Gold Corporation	B2G	60.00	60.29	0.48%
Oceana Group Limited	OCG	70.12	69.20	-1.31%
Mediclinic International Plc	MEP	108.27	109.50	1.14%
Truworths	TRW	67.69	67.00	-1.02%
Nedbank Group Limited	NBK	231.06	229.78	-0.55%
Standard Bank Group	SNB	175.18	177.25	1.18%
Shoprite Holdings	SRH	228.99	228.39	-0.26%
FirstRand Limited	FST	64.93	65.05	0.18%
Momentum Metropolitan Holdings	MMT	19.68	19.41	-1.37%
Old Mutual Ltd	OMM	11.47	11.89	3.66%
Sanlam Limited	SLA	57.88	58.16	0.48%
Santam Limited	SNM	289.61	288.36	-0.43%
Vukile Property Fund Limited	VKN	13.16	12.78	-2.89%
Investec Limited	IVD	116.42	115.17	-1.07%
PSG Konsult Limited	KFS	12.28	12.33	0.41%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	311.91	312.54	0.20%
New Gold Palladium ETF	NGNPLD	266.92	269.96	1.14%
New Gold Platinum ETF N	NGNPLT	163.19	164.36	0.72%
New Funds S&P NAM Bond	NFNAMA	18.19	18.11	-0.44%

Table 4: ETFs

Exchange Rates @ 05:00
USD/NAD	18.26
EUR/NAD	19.46
GBP/NAD	22.10
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.20
AUD/USD	0.68
USD/JPY	134.92
Commodities @ 05:00
Gold	1,844.50
Silver	21.92
Platinum	946.80
Palladium	1,511.53
WTI	76.11
Brent	82.81

Table 5: Exchange Rates and Commodities 

Local News

The country’s struggling housing parastatal has been offered a N$5 billion loan facility from an Italian construction consortium. (Sun Newspaper)

Huawei recently demonstrated its commitment to Africa’s energy transition, while also showcasing the full range of its latest solar PV and green home and business solutions. The demonstration took place at the Solar Power Africa Conference held in Cape Town at the beginning of February. (New Era Newspaper)

Bank of Namibia (BoN) governor Johannes !Gawaxab said the central bank has recorded 64 million money transfers by cellphone in transactions totaling N$34 billion during the 2022 financial year. (The Namibian)

Sub-Sahara News

Airports Company SA (ACSA) is stepping in to ensure that Russian planes can be refueled at its South African airports. (News24)

Madagascar’s government on Tuesday suspended schools and transport in the path of tropical cyclone Freddy, which was likely to make landfall in the southeast of the country by evening. (CNBC Africa)

On 09 February, the Tigray Orthodox Church Council of Bishops held a joint meeting in which they have issued rejection to an earlier call made by the Ethiopian Orthodox Tewahdo Church (EOTC) Holy Synod's Secretariat requesting for talks of reconciliation and normalization of relations between the Synod in Addis Abeba and Tigray Orthodox Church. (All Africa News)

International News

The last remaining treaty that limits Russian and U.S. nuclear weapons was already in grave peril before President Vladimir Putin announced on Tuesday that Moscow was suspending its participation. (Reuters)

Asian markets lost further on Wednesday as markets weighed the risk of sticky inflation on central banks' monetary policy and the likelihood of economic recession, following the release of the latest CPI numbers from the U.S. Data from the U.S. on Tuesday had shown that inflation cooled in January (RTT News)

US President Joe Biden has rallied NATO allies in Poland, proclaiming “unwavering” support for Kyiv as his Russian counterpart Vladimir Putin announces suspension of Moscow’s role in a nuclear arms treaty with Washington (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	1,575,683.00	35,709,962.21	100.00%
ETFs	-	-	0.00%
Total	1,575,683.00	35,709,962.21	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 35,709,962.21 worth of shares was traded on the NSX on Monday with about N$ 540,020 worth of shares belonging to Anglo-American plc and N$ 920,200 worth of Namibia Breweries shares on the home front. No ETFs were traded on Monday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse radically augmented as the company announced its results for the year ended 31 December 2022.
• Namibia Breweries’ shares were traded shiny in a slight change in share price.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	46.00	46.01	0.02%
Nictus Holdings	NHL	1.90	1.90	0.00%
Capricorn	CGP	13.79	13.80	0.07%
First Rand Namibia	FNB	33.53	33.53	0.00%
Standard Bank Namibia	SNO	5.19	5.19	0.00%
Oryx Limited	ORY	11.38	11.38	0.00%
Letshego	LHN	3.51	3.51	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	13.19	13.19	0.00%
Mobile Telecommunication Company	MOC	7.06	7.07	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	696.00	723.37	3.93%
B2Gold Corporation	B2G	60.85	60.00	-1.40%
Oceana Group Limited	OCG	70.01	70.12	0.16%
Mediclinic International Plc	MEP	107.53	108.27	0.69%
Truworths	TRW	68.63	67.69	-1.37%
Nedbank Group Limited	NBK	230.86	231.06	0.09%
Standard Bank Group	SNB	173.05	175.18	1.23%
Shoprite Holdings	SRH	226.28	228.99	1.20%
FirstRand Limited	FST	64.58	64.93	0.54%
Momentum Metropolitan Holdings	MMT	19.66	19.68	0.10%
Old Mutual Ltd	OMM	11.59	11.47	-1.04%
Sanlam Limited	SLA	58.04	57.88	-0.28%
Santam Limited	SNM	286.03	289.61	1.25%
Vukile Property Fund Limited	VKN	13.43	13.16	-2.01%
Investec Limited	IVD	116.27	116.42	0.13%
PSG Konsult Limited	KFS	12.50	12.28	-1.76%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	310.55	308.05	-0.81%
New Gold Palladium ETF	NGNPLD	308.05	311.91	1.25%
New Gold Platinum ETF N	NGNPLT	258.48	266.92	3.27%
New Funds S&P NAM Bond	NFNAMA	159.29	163.19	2.45%

Table 4: ETFs

Exchange Rates @ 05:00
USD/NAD	18.12
EUR/NAD	19.33
GBP/NAD	21.79
EUR/GBP	0.88
EUR/USD	1.06
GBP/USD	1.20
AUD/USD	0.68
USD/JPY	134.40
Commodities @ 05:00
Gold	1,845.10
Silver	21.69
Platinum	925.60
Palladium	1,492.03
WTI	76.57
Brent	83.11

Table 5: Exchange Rates and Commodities 

Local News

Defence minister Frans Kapofi has blamed undisciplined Botswana Defence Force (BDF) members for tension between Namibia and that country. (Sun Newspaper)

As finance minister Iipumbu Shiimi is preparing to table the 2023/24 budget in the National Assembly on Wednesday, the country’s growing debt levels will weigh heavy on the mind of the former central bank governor. Namibia is borrowing a sizeable amount of N$29 million daily, including weekends, for the last 12 years. In 2010, Namibia’s public debt was around N$11 billion, which debt stock is now expected to increase to N$138.4 billion, equivalent to 69.6% of gross domestic product (GDP) in FY2022/23.  (New Era Newspaper)

MARIENTAL residents in the Hardap region are demanding a lower rate for alleged unpurified water provided to residents since December. (The Namibian)

Sub-Sahara News

Eskom CEO Andre de Ruyter told Monday's briefing that the Stage 6 load shedding will likely last until evening peak on Wednesday, and could drop to Stage 4 on Thursday morning.He anticipated that it would go even lower by the weekend as more capacity is returned to the grid. As things stood on Monday afternoon, 3 766MW of capacity was out on planned maintenance, there was "huge" full load losses of 12 318MW and partial losses of 5 993MW. (News24)

Mauritius on Monday grounded flights and shut its stock exchange as Tropical Cyclone Freddy approached, posing a “direct threat” to the Indian Ocean island. (CNBC Africa)

The Government has activated health emergency response mechanisms following a cholera outbreak in the Sadc region and the recording of two cases in Chegutu (All Africa News)

International News

U.S. President Joe Biden walked around central Kyiv on an unannounced visit on Monday, promising to stand with Ukraine as long as it takes, on a trip timed to upstage the Kremlin ahead of the one-year anniversary of Russia's invasion. (Reuters)

Asian stock markets are trading mostly lower on Monday, following the mixed cues from Wall Street on Friday (RTT News)

Beijing has strongly denied US claims that China was considering arming Russia in its war against Ukraine as it called for “peace-loving” nations to act to end the conflict.A Chinese spokesperson said on Monday the United States is in no position to make demands after US top diplomat Antony Blinken warned Beijing against providing weapons to Russia in the war against Ukraine. (Aljazeera News)