Category: Equity Market Research

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	75,983.00	5,630,110.97	100.00%
ETFs	-	-	0.00%
Total	75,983.00	5,630,110.97	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$ 5,630,110.97 worth of shares was traded on the NSX on Monday with N$4,628,424 worth of Mediclinic International and N$ 59,938 worth of Capricorn Group Limited on the home front. No ETFs were traded on Monday

HEI Equity Research Commentary

From the trading activity that took place:

•  Mediclinic International’s shares were traded on the JSE resulting in a decline in the share price at closing
• On the local NSX listing, shares belonging to Capricorn Group Limited were traded with no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.01	40.01	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.00	29.76	-0.80%
Standard Bank Namibia	SNO	4.37	4.37	0.00%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.46	2.46	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	7.98	7.51	-5.89%
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	593.67	594.51	0.14%
B2Gold Corporation	B2G	57.23	58.22	1.73%
Oceana Group Limited	OCG	48.80	49.50	1.43%
Mediclinic International Plc	MEP	100.40	99.69	-0.71%
Truworths	TRW	51.00	52.05	2.06%
Nedbank Group Limited	NBK	218.46	217.46	-0.46%
Standard Bank Group	SNB	166.60	167.78	0.71%
Shoprite Holdings	SRH	227.10	229.33	0.98%
FirstRand Limited	FST	67.21	67.27	0.09%
Momentum Metropolitan Holdings	MMT	15.37	15.60	1.50%
Old Mutual Ltd	OMM	11.43	11.51	0.70%
Sanlam Limited	SLA	55.91	56.50	1.06%
Santam Limited	SNM	244.55	253.40	3.62%
Vukile Property Fund Limited	VKN	14.17	14.22	0.35%
Investec Limited	IVD	91.37	91.49	0.13%
PSG Konsult Limited	KFS	12.00	11.85	-1.25%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	278.22	276.94	-0.46%
New Gold Palladium ETF	NGNPLD	348.29	361.51	3.80%
New Gold Platinum ETF N	NGNPLT	151.76	150.93	-0.55%
New Funds S&P NAM Bond	NFNAMA	17.16	17.13	-0.17%

Table 4: ETFs

Exchange Rates
USD/NAD	16.60
EUR/NAD	16.94
GBP/NAD	20.07
EUR/GBP	0.84
EUR/USD	1.02
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	135.04
Commodities
Gold	1,803.90
Silver	20.70
Platinum	941.00
Palladium	2,200.02
WTI	90.84
Brent	96.72

Table 5: Exchange Rates and Commodities 

Local News

Prime Minister Saara Kungongelwa- Amadhila has denied Popular Democratic Movement (PDM) leader McHenry Venaani’s accusation that the government has failed in delivering housing (Namibian Sun)

The Namibia Students Financial Assistance Fund (NSFAF) is in court fighting to have a former employee return more than N$ #500,000 he allegedly transferred to a student(New Era Newspaper)

The Anti-Corruption Commission (ACC) is investigating how an official from the Ministry of Agriculture, Water and Land Reform allegedly privately benefited from an N$8 million drought- relief tender, while he was also involved in the procurement proceeds on the behalf of the government (The Namibian)

Sub-Sahara News

SA’s financial watchdog has ordered that five members of the board of trustees of the Private Security Sector Provident Fund (PSSPF) be removed for improper conduct. (News24)

The United States released a new strategy document for sub-Saharan Africa on Monday, stressing the region’s importance, the threats posed by China and Russia, and vowing to extend defense cooperation with like-minded African countries. (CNBC Africa)

Spelling out the Biden Administration's new strategy for sub-Saharan Africa on Monday, the United States Secretary of State, Antony J. Blinken, both declared that the U.S. and African nations should be "equal partners" and appealed for support for Ukraine's defense of its territorial integrity. (All Africa News)

International News

Ukraine reported intense Russian shelling across the frontlines on Tuesday as both sides traded blame for the weekend strike on the Zaporizhzhia nuclear complex which triggered international concern about a potential atomic disaster. (Reuters)

Asian stocks fell on Tuesday as worrying manufacturing data from across the globe raised concerns over a potential recession. (RTT News)

A “large group” of federal agents has entered Donald Trump’s Florida residence in an “unannounced raid”, the former US president said on his social media channel on Monday. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	120,555.00	9,249,662.50	100.00%
ETFs	-	-	0.00%
Total	120,555.00	9,249,662.50	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$  9,249,662.50 worth of shares was traded on the NSX on Friday, with N$ 2,068,350 worth of FirstRand Namibia Ltd on the home front No ETFs were traded on Friday

HEI Equity Research Commentary

From the trading activity that took place:

• A mild day with no trading activity occurred on the JSE
• On the local NSX listing, shares belonging FirstRand Namibia Ltd exchanged hands on the local bourse resulting in no  change in share price at closing, despite having over N$9 million worth of shares

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.01	40.01	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.00	30.00	0.00%
Standard Bank Namibia	SNO	4.37	4.37	0.00%
Oryx Limited	ORY	10.26	10.26	0.00%
Letshego	LHN	2.46	2.46	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	7.98	7.98	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	576.75	593.67	2.93%
B2Gold Corporation	B2G	57.58	57.23	-0.61%
Oceana Group Limited	OCG	47.40	48.80	2.95%
Mediclinic International Plc	MEP	100.43	100.40	-0.03%
Truworths	TRW	50.76	51.00	0.47%
Nedbank Group Limited	NBK	212.97	218.46	2.58%
Standard Bank Group	SNB	162.89	166.60	2.28%
Shoprite Holdings	SRH	220.85	227.10	2.83%
FirstRand Limited	FST	66.18	67.21	1.56%
Momentum Metropolitan Holdings	MMT	15.07	15.37	1.99%
Old Mutual Ltd	OMM	11.14	11.43	2.60%
Sanlam Limited	SLA	54.70	55.91	2.21%
Santam Limited	SNM	243.73	244.55	0.34%
Vukile Property Fund Limited	VKN	14.13	14.17	0.28%
Investec Limited	IVD	89.08	91.37	2.57%
PSG Konsult Limited	KFS	11.75	12.00	2.13%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	278.53	278.22	-0.11%
New Gold Palladium ETF	NGNPLD	338.63	348.29	2.85%
New Gold Platinum ETF N	NGNPLT	150.20	151.76	1.04%
New Funds S&P NAM Bond	NFNAMA	17.14	17.16	0.12%

Table 4: ETFs

Exchange Rates
USD/NAD	16.79
EUR/NAD	17.09
GBP/NAD	20.27
EUR/GBP	0.84
EUR/USD	1.01
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	135.22
Commodities
Gold	1,788.25
Silver	19.84
Platinum	924.70
Palladium	2,119.77
WTI	89.10
Brent	95.03

Table 5: Exchange Rates and Commodities 

Local News

The Namibia Financial Institutions Supervisory Authority (Namfisa) ordered non-banking financial institutions (NBFIs) to pay back a total amount of about N$1.3 million to consumers during the first quarter of 2022 (Namibian Sun)

A  South African-owned insurance company has refuted allegations made by a northern businessman over a disputed insurance claim, (New Era Newspaper)

The recent cold weather in the country has Etunda fresh producers concerned as it has destroyed crops (The Namibian)

Sub-Sahara News

The Air Services Licensing Council has suspended two air services licenses issued to low-cost airline Mango, a subsidiary of South African Airways. (News24)

Zambia’s Finance Minister Situmbeko Musokotwane said on Friday that the International Monetary Fund’s executive board was expected to meet at the end of the month to approve a lending plan. (CNBC Africa)

Nigerian governors advised the President Muhammadu Buhari-led government to take some urgent steps as part of coordinated efforts to instill fiscal discipline and prevent the nation from economic collapse (All Africa News)

International News

Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt the demand outlook and data pointed to a slow recovery in China's crude imports last month (Reuters)

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from global markets on Friday, as traders react to the latest batch of earnings news from big-name companies. (RTT News)

Renewed Russian shelling damaged three radiation sensors and wounded a worker at the Zaporizhzhia power plant in the second such strike in consecutive days, Ukraine said on Sunday... (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	839,618.00	35,841,677.76	99.59%
ETFs	1,023.00	146,810.73	0.41%
Total	840,641.00	35,988,488.49	100.00

Table 1: NSX Trades

NSX Activities

A total of N$ 35,841,677.76 worth of shares was traded on the NSX on Thursday, with about N$ 2,469,977 worth of Anglo-American plc and N$           546,686 worth of Mobile Telecommunications on the home front. ETFs worth N$ 146,810.73 were traded on Thursday.

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American plc share price increased significantly as index yield closed in greens on the JSE
• On the local NSX listing, shares belonging to Mobile Telecommunications exchanged hands on the local bourse resulting in a slight decrease at closing.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.01	0.02%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.01	30.00	-0.03%
Standard Bank Namibia	SNO	4.34	4.37	0.69%
Oryx Limited	ORY	10.25	10.26	0.10%
Letshego	LHN	2.45	2.46	0.41%
Namibia Asset Management	NAM	0.70	0.70	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	7.99	7.98	-0.13%
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	569.03	576.75	1.36%
B2Gold Corporation	B2G	57.16	57.58	0.73%
Oceana Group Limited	OCG	45.70	47.40	3.72%
Mediclinic International Plc	MEP	98.65	100.43	1.80%
Truworths	TRW	50.27	50.76	0.97%
Nedbank Group Limited	NBK	218.15	212.97	-2.37%
Standard Bank Group	SNB	159.47	162.89	2.14%
Shoprite Holdings	SRH	222.06	220.85	-0.54%
FirstRand Limited	FST	66.40	66.18	-0.33%
Momentum Metropolitan Holdings	MMT	15.11	15.07	-0.26%
Old Mutual Ltd	OMM	11.27	11.14	-1.15%
Sanlam Limited	SLA	54.59	54.70	0.20%
Santam Limited	SNM	241.83	243.73	0.79%
Vukile Property Fund Limited	VKN	14.23	14.13	-0.70%
Investec Limited	IVD	89.64	89.08	-0.62%
PSG Konsult Limited	KFS	11.70	11.75	0.43%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	277.01	278.53	0.55%
New Gold Palladium ETF	NGNPLD	328.54	338.63	3.07%
New Gold Platinum ETF N	NGNPLT	145.04	150.20	3.56%
New Funds S&P NAM Bond	NFNAMA	17.01	17.14	0.76%

Table 4: ETFs

Exchange Rates
USD/NAD	16.61
EUR/NAD	17.00
GBP/NAD	20.17
EUR/GBP	0.84
EUR/USD	1.02
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	133.16
Commodities
Gold	1,808.45
Silver	20.242
Platinum	930.70
Palladium	2,081.02
WTI	88.80
Brent	94.25

Table 5: Exchange Rates and Commodities 

Local News

Liquidators David Bruni and Ian McLaren have asked the Windhoek High Court to relieve them of their duties as curators bonis of assets owned by the Fishrot accused, claiming they do not have adequate capacity to execute their mandate (Namibian Sun)

The government increased its offer from the initial N$334 million to over N$924 million, meaning a 3% basic salary across the board, housing allowance for civil servants, below management by 11%, and transport allowance by 14% (New Era Newspaper)

Local econ0omists say big oil companies are taking advantage of the Russia-Ukaraine crisis earning about N$854.3 billion in the recent quarter (The Namibian)

Sub-Sahara News

US investors with more than $1 trillion (nearly R17 trillion) of assets under management are in South Africa to look for investment opportunities (News24)

The Bank of England on Thursday hiked interest rates by 50 basis points, its largest single increase since 1995, and projected the U.K.’s longest recession since the global financial crisis (CNBC Africa)

Rwanda has termed the allegedly leaked United Nations Group of Experts (UNGoE) report accusing the country of supporting the DR Congo rebel group, M23, as a tactical distraction from the real issues. (All Africa News)

International News

Three ships carrying a total of 58,041 tonnes of corn have been authorized to leave Ukrainian ports on Friday as part of a deal to unblock grain exports, as a Russian offensive forced Ukraine to cede territory in the east. (Reuters)

European stock markets are expected to open on a positive note on Friday amidst data that showed the U.S. economy contracting by 0.90 percent in the second quarter, which triggered both fears of a recession as well as hopes of a slowdown in the Fed's rate hiking spree. (RTT News)

On August 9, 22.1 million registered Kenyans will go to the polls to elect the country’s fifth president and successor to the incumbent Uhuru Kenyatta.. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	24,270.00	995,220.00	100.00%
ETFs	-	-	0.00%
Total	24,270.00	995,220.00	100.00

Table 1: NSX Trades

NSX Activities

A total of N$ 995,220.00 worth of shares was traded on the NSX on Wednesday, with about N$ 134,772 worth of Anglo-American plc and N$          61,363 worth of Mobile Telecommunications on the home front. No ETFs were traded on Wednesday.

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American plc share price increased significantly as index yield closed in greens on the JSE
• On the local NSX listing, shares belonging to Mobile Telecommunications exchanged hands on the local bourse resulting in a slight decrease at closing.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.01	30.01	0.00%
Standard Bank Namibia	SNO	4.34	4.34	0.00%
Oryx Limited	ORY	10.25	10.25	0.00%
Letshego	LHN	2.45	2.45	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	8.00	7.99	-0.12%
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	566.00	569.03	0.54%
B2Gold Corporation	B2G	57.50	57.16	-0.59%
Oceana Group Limited	OCG	46.01	45.70	-0.67%
Mediclinic International Plc	MEP	98.40	98.65	0.25%
Truworths	TRW	49.15	50.27	2.28%
Nedbank Group Limited	NBK	214.23	218.15	1.83%
Standard Bank Group	SNB	156.16	159.47	2.12%
Shoprite Holdings	SRH	222.57	222.06	-0.23%
FirstRand Limited	FST	64.96	66.40	2.22%
Momentum Metropolitan Holdings	MMT	14.86	15.11	1.68%
Old Mutual Ltd	OMM	11.05	11.27	1.99%
Sanlam Limited	SLA	53.22	54.59	2.57%
Santam Limited	SNM	236.00	241.83	2.47%
Vukile Property Fund Limited	VKN	14.10	10.25	-27.30%
Investec Limited	IVD	88.59	89.64	1.19%
PSG Konsult Limited	KFS	11.50	11.70	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	271.46	275.82	1.61%
New Gold Palladium ETF	NGNPLD	353.06	332.54	-5.81%
New Gold Platinum ETF N	NGNPLT	144.32	145.16	0.58%
New Funds S&P NAM Bond	NFNAMA	16.94	17.04	0.59%

Table 4: ETFs

Exchange Rates
USD/NAD	16.74
EUR/NAD	17.01
GBP/NAD	20.34
EUR/GBP	0.83
EUR/USD	1.01
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	133.76
Commodities
Gold	1,784.30
Silver	19.97
Platinum	890.80
Palladium	1,993.28
WTI	91.16
Brent	97.19

Table 5: Exchange Rates and Commodities 

Local News

The US dollar remained elevated yesterday following its biggest surge in three weeks against major peers overnight, with Federal Reserve officials talking up the potential for a further hike in the interest rate. (Namibian Sun)

A workshop leading to a project launch of ‘Decent Work in Trade and Investment Agreements: Role and Actions of Trade Unions in Africa’ was concluded in Windhoek recently. (New Era Newspaper)

Affirmative Repositioning leader Job Amupanda has withdrawn from the Financial Institutions and Markets Act (Fima) technical committee. (The Namibian)

Sub-Sahara News

A UK government ban on Bain & Co. from competing for state contracts sets an important precedent for the handling of companies found to have assisted with corruption overseas, according to lawmaker Peter Hain (News24)

Emerging markets posted a fifth straight month of portfolio outflows in July, setting the longest such streak in records going back to 2005, as global recession risk, inflation, and a strong dollar drew away cash, data from the Institute of International Finance (IIF) showed on Wednesday. (CNBC Africa)

Stage two power cuts will return today and tomorrow due to a shortage of generation capacity, Eskom has confirmed. The blackouts will be implemented between 4 pm and midnight on both days. The power cuts return after a run of almost two weeks without it. (All Africa News)

International News

Ukraine said Russia had started creating a military strike force aimed at President Volodymyr Zelenskiy's hometown of Kryvyi Rih, as NATO moved closer to the most significant expansion of the alliance in decades as it responds to the invasion of Ukraine. (Reuters)

Asian stocks advanced on Thursday after the U.S. Federal Reserve announced a 75 basis point rate hike. (RTT News)

German Chancellor Olaf Scholz says Russia has no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that was serviced in Canada but has since been stranded in Germany in an escalating energy standoff. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	71,796.00	6,589,379.21	100.00%
ETFs	-	-	0.00%
Total	71,796.00	6,589,379.21	100.00

Table 1: NSX Trades

NSX Activities

A total of N$ 6,589,379.21 worth of shares was traded on the NSX on Tuesday, with about N$ 1,215,549 worth of Anglo-American plc and N$         12,658 worth of Mobile Telecommunications on the home front. No ETFs were traded on Tuesday

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American plc share price decreased at closing as overall bearish market conditions emerges as a result of Nancy Pelosi’s visitation to Taiwan
• On the local NSX listing, shares belonging to Mobile Telecommunications exchanged hands on the local bourse resulting in a 6.2% increase in share price at closing

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.01	30.01	0.00%
Standard Bank Namibia	SNO	4.34	4.34	0.00%
Oryx Limited	ORY	10.25	10.25	0.00%
Letshego	LHN	2.45	2.45	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	7.53	8.00	6.24%
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	577.98	566.00	-2.07%
B2Gold Corporation	B2G	58.26	57.50	-1.30%
Oceana Group Limited	OCG	48.49	46.01	-5.11%
Mediclinic International Plc	MEP	98.19	98.40	0.21%
Truworths	TRW	50.82	49.15	-3.29%
Nedbank Group Limited	NBK	216.24	214.23	-0.93%
Standard Bank Group	SNB	159.11	156.16	-1.85%
Shoprite Holdings	SRH	223.54	222.57	-0.43%
FirstRand Limited	FST	65.51	64.96	-0.84%
Momentum Metropolitan Holdings	MMT	14.76	14.86	0.68%
Old Mutual Ltd	OMM	11.29	11.05	-2.13%
Sanlam Limited	SLA	54.33	53.22	-2.04%
Santam Limited	SNM	242.98	236.00	-2.87%
Vukile Property Fund Limited	VKN	14.24	14.10	-0.98%
Investec Limited	IVD	89.53	88.59	-1.05%
PSG Konsult Limited	KFS	11.81	11.50	-2.62%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	271.46	275.82	1.61%
New Gold Palladium ETF	NGNPLD	353.06	332.54	-5.81%
New Gold Platinum ETF N	NGNPLT	144.32	145.16	0.58%
New Funds S&P NAM Bond	NFNAMA	16.94	17.04	0.59%

Table 4: ETFs

Exchange Rates
USD/NAD	16.75
EUR/NAD	17.05
GBP/NAD	20.40
EUR/GBP	0.83
EUR/USD	1.01
GBP/USD	1.22
AUD/USD	0.69
USD/JPY	133.01
Commodities
Gold	1,783.70
Silver	19.94
Platinum	903.70
Palladium	2,084.50
WTI	94.16
Brent	100.18

Table 5: Exchange Rates and Commodities 

Local News

The Communications Regulatory Authority of Namibia (CRAN) has published its Request Bid documents for the spectrum auction for a number of bands (Namibian Sun)

Based on regional findings on digital transformation, the lack of electricity and connectivity devices remains a challenge in most of Namibia’s rural schools.  (New Era Newspaper)

The chairperson of the TransNamib board, Lionel Matthews, says the Ministry of Finance needs to optimally deploy N$175 million to the parastatal in the short term for it to be able to carry out some of its activities. (The Namibian)

Sub-Sahara News

National Treasury has backed Finance Minister Enoch Godongwana's prominent involvement in public service wage talks. This should not be seen as exceptional, (News24)

The principle that the South African government will take on some of state power utility Eskom’s debt has been agreed upon, but there is no consensus over how much, the finance minister said on Monday. (CNBC Africa)

Kenya is struggling with its public debt, a heavy burden to the long-suffering citizens. Debt servicing currently sits at 65% of the total national budget. For every 100 shillings that the government has been collecting, 65 shillings have been going to debt repayment. As the debt spirals out of control, the corresponding poverty level is rising sharply. (All Africa News)

International News

China furiously condemned the highest-level U.S. visit to Taiwan in 25 years as House of Representatives Speaker Nancy Pelosi hailed the self-ruled island as "one of the freest societies in the world" in a speech to the parliament in Taipei on Wednesday. (Reuters)

European stocks may open a tad higher on Wednesday after Alphabet Inc., Microsoft Corp., and Texas Instruments Inc. all posted double-digit quarterly revenue growth (RTT News)

Russia has accused the United States of direct involvement in the Ukraine war, as the first ship carrying Ukrainian grain to world markets since Moscow’s invasion continued its passage to Lebanon without problems. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	264,499.00	23,144,723.78	100.00%
ETFs	-	-	0.00%
Total	264,499.00	23,144,723.78	100.00

Table 1: NSX Trades

NSX Activities

A total of N$ 23,144,723.78 worth of shares was traded on the NSX on Monday, with about N$ 2,782,760 worth of Anglo-American plc and N$        286,539 worth of Oryx Properties Limited on the home front. No ETFs were traded on Monday

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American plc share price decreased at closing as market participants dumps shares. Resulting in a 3.6% decline at closing.
• On the local NSX listing, shares belonging to Oryx Properties Limited were traded with no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.01	11.01	0.00%
First Rand Namibia	FNB	30.01	30.01	0.00%
Standard Bank Namibia	SNO	4.34	4.34	0.00%
Oryx Limited	ORY	10.25	10.25	0.00%
Letshego	LHN	2.65	2.45	-7.55%
Namibia Asset Management	NAM	0.70	0.70	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	7.53	7.53	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	599.36	577.98	-3.57%
B2Gold Corporation	B2G	56.86	58.26	2.46%
Oceana Group Limited	OCG	48.77	48.49	-0.57%
Mediclinic International Plc	MEP	97.00	98.19	1.23%
Truworths	TRW	51.19	50.82	-0.72%
Nedbank Group Limited	NBK	216.90	216.24	-0.30%
Standard Bank Group	SNB	159.99	159.11	-0.55%
Shoprite Holdings	SRH	224.24	223.54	-0.31%
FirstRand Limited	FST	65.55	65.51	-0.06%
Momentum Metropolitan Holdings	MMT	14.64	14.76	0.82%
Old Mutual Ltd	OMM	11.34	11.29	-0.44%
Sanlam Limited	SLA	54.51	54.33	-0.33%
Santam Limited	SNM	243.62	242.98	-0.26%
Vukile Property Fund Limited	VKN	14.20	14.24	0.28%
Investec Limited	IVD	88.73	89.53	0.90%
PSG Konsult Limited	KFS	11.89	11.81	-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	272.83	271.46	-0.50%
New Gold Palladium ETF	NGNPLD	339.20	353.06	4.09%
New Gold Platinum ETF N	NGNPLT	142.85	144.32	1.03%
New Funds S&P NAM Bond	NFNAMA	17.04	16.94	-0.59%

Table 4: ETFs

Exchange Rates
USD/NAD	16.53
EUR/NAD	16.99
GBP/NAD	20.27
EUR/GBP	0.83
EUR/USD	1.02
GBP/USD	1.22
AUD/USD	0.70
USD/JPY	130.82
Commodities
Gold	1,790.30
Silver	20.21
Platinum	903.70
Palladium	2,200.02
WTI	93.27
Brent	99.21

Table 5: Exchange Rates and Commodities 

Local News

Kavango East and West regional governors backed their regional councils and traditional leaders, and have rejected Cabinet’s plan to outsource green schemes in their regions. (Namibian Sun)

The Gobabis municipality, struggling to provide basic services to residents, is paying six suspended senior managers millions while they sit idle at home, waiting to be charged for over a year.  (New Era Newspaper)

Citizens can still borrow from their pension to build or renovate their houses, even under the yet-to-be-operationalized Financial Institutions and Market Act (FIMA), the Namibia financial institution Supervisory Authority (NAMFISA) has said. (The Namibian)

Sub-Sahara News

Much to the chagrin of at least one union, Finance Minister Enoch Godongwana is set to play a more prominent in the ongoing public service wage negotiations as the government looks to make savings on its biggest spending item. (News24)

OPEC’s new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement, Kuwait’s Alrai newspaper reported on Sunday, quoting an exclusive interview with Haitham al-Ghais. (CNBC Africa)

As of August 1, 2022, confirmed cases of Covid-19 from 55 African countries reached  12,081,564 while  353,852,714 vaccinations have been administered across the continent. (All Africa News)

International News

The United States killed al Qaeda leader Ayman al-Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. (Reuters)

European stocks may open flat to slightly lower on Tuesday after a profit warning from top U.S. retailer Walmart provided further evidence of a consumer spending pullback. (RTT News)

Nuclear threats emanating from the war in Ukraine as well as in Asia and the Middle East have put the world “one miscalculation away from nuclear annihilation”, the United Nations secretary-general said. (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	305,467.00	12,566,737.75	100.00%
ETFs	-	-	0.00%
Total	305,467.00	12,566,737.75	100.00%

Table 1: NSX Trades

NSX Activities

A total of N$12,566,737.75 worth of shares was traded on the NSX on Friday, with about N$ 740,942 worth of Oceana Group Limited and N$       4,113,760 worth of Namibia Breweries on the home front. No ETFs were traded on Friday.

HEI Equity Research Commentary

From the trading activity that took place:

• Oceana Group's share price decreased at closing as market participants dumps shares.
• On the local NSX listing, shares belonging to Namibia Breweries were traded with no change in share price

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.50	11.01	-4.26%
First Rand Namibia	FNB	30.01	30.01	0.00%
Standard Bank Namibia	SNO	4.32	4.34	0.46%
Oryx Limited	ORY	10.25	10.25	0.00%
Letshego	LHN	2.65	2.65	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	7.53	7.53	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	572.38	599.36	4.71%
B2Gold Corporation	B2G	56.11	56.86	1.34%
Oceana Group Limited	OCG	50.26	48.77	-2.96%
Mediclinic International Plc	MEP	97.50	97.00	-0.51%
Truworths	TRW	51.41	51.19	-0.43%
Nedbank Group Limited	NBK	215.43	216.90	0.68%
Standard Bank Group	SNB	159.65	159.99	0.21%
Shoprite Holdings	SRH	226.50	224.24	-1.00%
FirstRand Limited	FST	65.90	65.55	-0.53%
Momentum Metropolitan Holdings	MMT	14.73	14.64	-0.61%
Old Mutual Ltd	OMM	11.30	11.34	0.35%
Sanlam Limited	SLA	54.59	54.51	-0.15%
Santam Limited	SNM	245.94	243.62	-0.94%
Vukile Property Fund Limited	VKN	14.52	14.20	-2.20%
Investec Limited	IVD	87.17	88.73	1.79%
PSG Konsult Limited	KFS	12.14	11.89	-2.06%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	271.14	272.83	0.62%
New Gold Palladium ETF	NGNPLD	335.74	339.20	1.03%
New Gold Platinum ETF N	NGNPLT	142.37	142.85	0.34%
New Funds S&P NAM Bond	NFNAMA	16.93	17.04	0.65%

Table 4: ETFs

Exchange Rates
USD/NAD	16.16
EUR/NAD	17.03
GBP/NAD	20.29
EUR/GBP	0.83
EUR/USD	1.02
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	132.56
Commodities
Gold	1,778.40
Silver	20.18
Platinum	888.20
Palladium	2,099.52
WTI	97.50
Brent	103.29

Table 5: Exchange Rates and Commodities 

Local News

Around 11,000 hectares of land are currently irrigated, with 40% land area that can still potentially be irrigated. (Namibian Sun)

Swapo has not veered off its original mission, but instead continuously adapts to contemporary realities to remain at the forefront of fighting for social justice and economic emancipation for all  (New Era Newspaper)

An overwhelming number of government employees across the country last week voted in favor of a civil servant strike over salary increments (The Namibian)

Sub-Sahara News

Unions striking at the South African Revenue Service (SARS) have vowed to continue with their industrial action this week, but have said they remain open to resuming discussions if the tax body comes forward to them with a meaningful offer. (News24)

South Africa’s ruling African National Congress (ANC) party reaffirmed its position that the central bank should be nationalized during a policy conference over the past three days, President Cyril Ramaphosa said on Sunday. (CNBC Africa)

CNN published an investigation that had been seven months in the making disclosing how "Russia is plundering gold in Sudan to boost Putin's war effort in Ukraine" with the complicity of Sudanese military rulers. (All Africa News)

International News

The head of Myanmar's junta on Monday blamed instability for stalling efforts to implement a peace plan agreed with other Southeast Asian countries as he extended emergency rule for another six months. (Reuters)

Asian stocks ended broadly lower on Monday as weak business activity data from Europe and the United States coupled with anxiety about China's property market added to worries about a recession. (RTT News)

Kosovo’s government has postponed for a month the implementation of new border rules that sparked tensions in the north of the country where ethnic Serbs blocked roads and unknown gunmen fired on police (Aljazeera News)

NSX Trades	Traded Volume (No. Shares)	Monetary Amount (N$)	Trading Contribution (%)
Overall	576,748.00	12,454,425.31	100.00%
ETFs	-	-	0.00%
Total	576,748.00	12,454,425.31	100.00

Table 1: NSX Trades

NSX Activities

A total of N$12,454,425.31 worth of shares was traded on the NSX on Wednesday, with about N$ 8,551,186 worth of Anglo-American plc and N$      2,334,376 worth of SBN Holdings Ltd on the home front. No ETFs were traded on Wednesday.

HEI Equity Research Commentary

From the trading activity that took place:

• Anglo-American’s share price decreased resulting in an N$ 8,5 million sell-off of shares
• On the local NSX listing, shares belonging to SBN Holdings Ltd were traded with a decline in share price by 0.5% at closing.

Name	NSX Local Ticker	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
Namibian Breweries	NBS	40.00	40.00	0.00%
Nictus Holdings	NHL	1.75	1.75	0.00%
Capricorn	CGP	11.02	11.02	0.00%
First Rand Namibia	FNB	30.47	30.47	0.00%
Standard Bank Namibia	SNO	4.24	4.32	1.89%
Oryx Limited	ORY	10.25	10.25	0.00%
Letshego	LHN	2.65	2.65	0.00%
Namibia Asset Management	NAM	0.70	0.70	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	7.52	7.53	0.13%
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	562.75	561.65	-0.20%
B2Gold Corporation	B2G	54.22	56.14	3.54%
Oceana Group Limited	OCG	51.50	50.76	-1.44%
Mediclinic International Plc	MEP	97.60	98.04	0.45%
Truworths	TRW	52.80	51.89	-1.72%
Nedbank Group Limited	NBK	212.38	212.82	0.21%
Standard Bank Group	SNB	157.55	158.00	0.29%
Shoprite Holdings	SRH	219.22	223.74	2.06%
FirstRand Limited	FST	65.30	64.79	-0.78%
Momentum Metropolitan Holdings	MMT	14.64	14.86	1.50%
Old Mutual Ltd	OMM	11.45	11.44	-0.09%
Sanlam Limited	SLA	55.12	54.89	-0.42%
Santam Limited	SNM	249.73	251.99	0.90%
Vukile Property Fund Limited	VKN	14.18	14.52	2.40%
Investec Limited	IVD	86.72	87.38	0.76%
PSG Konsult Limited	KFS	11.20	11.51	2.77%

Table 3: Dual Listed Trades

Name	ETFs	Price Previous Close 'N$	Price End of Day 'N$	Daily Change %
New Gold Issuer Ltd NM	NGNGLD	271.00	269.95	-0.39%
New Gold Palladium ETF	NGNPLD	328.54	332.44	1.19%
New Gold Platinum ETF N	NGNPLT	143.23	143.53	0.21%
New Funds S&P NAM Bond	NFNAMA	16.93	16.90	-0.18%

Table 4: ETFs

Exchange Rates
USD/NAD	16.66
EUR/NAD	17.01
GBP/NAD	20.28
EUR/GBP	0.83
EUR/USD	1.02
GBP/USD	1.21
AUD/USD	0.69
USD/JPY	135.47
Commodities
Gold	1,735.00
Silver	19.21
Platinum	883.55
Palladium	2,038.53
WTI	98.33
Brent	102.62

Table 5: Exchange Rates and Commodities 

Local News

Trade Union Congress of Namibia (TUENA) secretary-general Mahongora Kavihuha says a possible strike by Namibian civil servants will have a minimal effect on the economy (Namibian Sun)

African Deli, the renowned Namibian company that specializes in ready-to-eat food products, is set to take Africa by storm with its latest addition to their readily available food delicacies. (New Era Newspaper)

A manager at the national postal service NamPost has filed a police case of fraud and money laundering against officials who have allegedly transferred N$3.2 million from the parastatal to private accounts. (The Namibian)

Sub-Sahara News

Eskom's pension fund has accused the power utility's former head, Brian Molefe, of trying to delay his obligation to pay it R10 million (News24)

The executive director of South Africa’s Presidential Commission on Climate Change called the country’s coal industry “delusional” on Wednesday, saying the market for fossil fuels is going to dwindle rapidly in the next decade. (CNBC Africa)

As of July 27, 2022, confirmed cases of Covid-19 from 55 African countries reached  12,073,092 while  353,455,779 vaccinations have been administered across the continent. (All Africa News)

International News

Russian forces took over Ukraine's second-biggest power plant and are conducting a "massive redeployment" of troops to three southern regions, a Ukrainian presidential adviser said, amid expectations of a Ukrainian counter-offensive. (Reuters)

European stocks are seen opening slightly lower on Thursday as the region anxiously awaits the return of Russian gas supplies after a 10-day halt for annual maintenance. (RTT News)

In a speech to mark the armistice that ended fighting in the Korean War, known as ‘Victory Day’ in North Korea, Kim Jong Un said the threat posed by the United States required Pyongyang to build up its defense. (Aljazeera News)