Category: Reports

Table 1: NSX Trades

NSX Activities

A total of N$ 3,085,172.90 worth of shares was traded on the NSX on Wednesday with about N$ 691,488 worth of shares belonging to Shoprite Holdings and N$ 23,000 worth of Namibia Breweries shares on the home front. No ETFs were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Shoprite’s share performance on the overall bourse slightly declined as one sell transaction occurred on the markets
• Namibia Breweries’ shares were traded reflecting no change in share price.

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

The Bank of Namibia (BoN) announced a 25 basis points (bpts) increase in the repo rate from 6.75% to 7%, hiking the prime lending rate from 10.5% to 10.75% (Sun Newspaper)

A group of commercial beef producers – mainly previously advantaged farmers – are demanding that government immediately stops meddling in the affairs of the Meat Corporation of Namibia. (New Era Newspaper)

The government could end up spending N$1 billion on the completion of new military headquarters opposite the Suiderhof military base in Windhoek. (The Namibian)

Sub-Sahara News

Among the EFF's proposals to address South Africa's energy crisis is a deal with the Russian state nuclear energy company, Rosatom. (News24)

MTN Group MTNJ.J will invest $1 billion in Ghana over the next five years, the mobile operator said on Wednesday, after the government exempted its Ghanaian unit from tax claims worth about $773 million..(CNBC Africa)

The mayor of Tsumeb, Mathew Hangula, says the town's municipality will issue a media statement this week on the outcome of tests carried out after the town's water was declared unfit for human consumption in December (All Africa News)

International News

Index provider MSCI said on Wednesday it will postpone the implementation of updates to weightings for two of India's Adani Group companies, Adani Total Gas (ADAG.NS) and Adani Transmission (ADAI.NS), to the May benchmark review. (Reuters)

Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, on continuing concerns over the outlook for interest rates and a global economic slowdown. The rising geopolitical tensions between Washington and Beijing in recent days are also weighing on the markets. (RTT News)

World Bank chief David Malpass has announced he will step down in June, nearly a year before the end of his term.Malpass, who was nominated to his five-year term by former United States President Donald Trump in 2019, said on Wednesday he had decided to pursue new challenges after having the “enormous honour and privilege” of leading the international lender.. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$29,111,909.23 worth of shares was traded on the NSX on Thursday with about N$ 2,256,915 worth of shares belonging to Anglo-American and N$ 12,187 from SBN Holdings Ltd on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse withers further into negative territory despite of positive results of an increase of production by 10% in the fourth quarter compared to the same period in 2021, driven by the ongoing ramp-up at Quellaveco which produced more than 80,000 tonnes of copper
• SBN Holdings Ltd shares were traded resulting in a -0.20% decline in share price at closing.

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

The Roads Authority (RA) has announced that the DR3660 district road between Shipepe and Oontanadhambinga has been closed temporarily due to floods in the area. (Sun Newspaper)

The Business and Intellectual Property Authority (BIPA) announced the performance of newly registered business entities for 2022, with the authority stating it observed a decline in overall business registrations by 7.3%, compared to the 2021 calendar year (New Era Newspaper)

THE Anti-Corruption Commission (ACC) has arrested a Ministry of Health and Social Services employee and two others after a payment for an invoice totaling N$300 035.58 was allegedly made without any services being rendered. (The Namibian)

Sub-Sahara News

The Eskom board plans to scrap the position of chief operating officer (COO), director Mteto Nyati confirmed at a briefing on Thursday. (News24)

India’s Adani conglomerate deepened market losses to exceed $100 billion on Thursday, which has snowballed since a short-sellers scathing report triggered market turmoil and led the company to walk back its public share sale. (CNBC Africa)

The Southern African Development Community (SADC) is calling for a national dialogue in the Kingdom of eSwatini, after the assassination of political activist Advocate Thulani Maseko. Southern Africa's regional bloc acknowledged that political tensions were rising in the tiny kingdom, while attending an extraordinary meeting that took place in Namibia's capital, Windhoek.. (All Africa News)

International News

Apple Inc (AAPL.O) on Thursday reported sales and profits that missed Wall Street expectations driven by weak iPhone sales after COVID lockdowns in China disrupted production of the company's biggest seller. (Reuters)

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from global markets overnight, as some upbeat U.S. economic data, including stronger than-expected GDP growth and a more than expected surge in economic activity in the fourth quarter, helped to allay fears of an economic slowdown (RTT News)

Up to half a million British teachers, civil servants, train drivers, and university lecturers have walked off their jobs to demand better pay and working conditions in the largest coordinated strike action in a generation as wages fail to keep pace with soaring inflation. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$42,877,118.90 worth of shares was traded on the NSX on Wednesday with about N$ 8,117,632 worth of shares belonging to Anglo-American and N$ 424,212 from Namibia Breweries on the home front. ETFs worth N$ 4,873,116.00 were traded on Wednesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse declined as gold prices weakens further into negative territory.
• Namibia Breweries shares were traded resulting in no change in share price at closing.
• New Gold Issuer Ltd NM & New Gold Platinum ETF N ETFs were sold off by market participants to hedge amid soft commodity prices

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

NAMFISA received 189 complaints in Q3202281.5% of complaints were resolved. The resolution of complaints resulted in consumers receiving a total of N$1 715 993.34 from financial institutions. (Sun Newspaper)

Oil exploration company, Red Soil Energy and Mineral Exploration, has accused the mines ministry of illegally declining its application to favour “politically connected people”. For this, the company dragged mines and energy minister, Tom Alweendo, to court along with the National Petroleum Corporation of Namibia (Namcor) and Indigenous Energy over Alweendo’s decision to decline their application for a petroleum exploration license over Block 2512A and a portion of Block 2612A. (New Era Newspaper)

According to a statement issued by spokesperson Ockert Jansen, a total of 12 666 new companies were registered with Bipa between January and December 2022. (The Namibian)

Sub-Sahara News

While much speculation remains about when President Cyril Ramaphosa will announce a reshuffle of his Cabinet, former Johannesburg mayor Parks Tau has been replaced as chairperson of the Gauteng legislature finance committee. (News24)

The Federal Reserve is expected to raise interest rates by just a quarter point but also likely signal it will stay vigilant in its fight against inflation even as it reduces the size of the hikes. (CNBC Africa)

The number of Rwandan soldiers and police fighting terrorism in Mozambique's Cabo Delgado province increased from 1 000 in 2021 to 2 500 by the end of 2022. In December last year, they were placed in the province's southern Ancuabe District, a strategic deployment that protects the multimillion-dollar ruby and graphite industries that had been temporarily halted due to the insurgency. (All Africa News)

International News

North Korea's Foreign Ministry said on Thursday that drills by the United States and its allies have pushed the situation to an "extreme red-line" and threaten to turn the peninsula into a "huge war arsenal and a more critical war zone. (Reuters)

Turkey's central bank said on Thursday that it will provide an incentive for the conversion of firms' foreign exchange obtained from abroad into Turkish liras to support the "liraization" in commercial activities (RTT News)

Up to half a million British teachers, civil servants, train drivers, and university lecturers have walked off their jobs to demand better pay and working conditions in the largest coordinated strike action in a generation as wages fail to keep pace with soaring inflation. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$58,604,577.08 worth of shares was traded on the NSX on Tuesday with about N$ 22,382,124 worth of shares belonging to Anglo-American and N$ 593,778 from Capricorn Group Limited on the home front. ETFs worth N$ 307,742.40 were traded on Tuesday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse continues to deteriorate as markets closed in red yesterday prior to major central bank rate decisions.
• Capricorn Group shares were traded resulting in no change in share price at closing.
• New Gold Issuer Ltd NM ETFs was allocated to market participants in spite of commodity prices softening further in negative territory

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

The ministry of finance launched the code of good practice on preferences in the Namibian public procurement system. (Sun Newspaper)

The Southern African Development Community extraordinary troika summit of heads of state and government will today discuss the political and security situation in the region. The two-day summit kicked off yesterday in Windhoek. (New Era Newspaper)

The agriculture ministry is pushing ahead with its plan to place some of the country's agricultural projects under private control to improve output. (The Namibian)

Sub-Sahara News

A record Black Friday and festive season helped Shoprite deliver double-digit first-half sales growth as it spent more than half a billion rand to keep the lights on during one of SA’s worst-ever periods of load shedding. (News24)

South Africa’s governing African National Congress (ANC) wants to employ disaster management legislation that was used to respond to the COVID-19 pandemic to help end crippling power cuts, a top party official said on Tuesday. (CNBC Africa)

The International Monetary Fund's new US$3 billion loan agreement with Egypt largely continues an economic approach that leaves the economic rights of millions unprotected, Human Rights Watch and Democracy in the Arab World Now (DAWN) said today. (All Africa News)

International News

The United States is readying more than $2 billion worth of military aid for Ukraine that is expected to include longer-range rockets for the first time as well as other ammunitions and weapons, two U.S. officials briefed on the matter told Reuters on Tuesday. (Reuters)

Business sentiment from Germany and producer prices from the UK are the top economic news due on Wednesday, headlining a light day for the European economic news (RTT News)

Russia says it has captured a village on the northern outskirts of Bakhmut as it intensifies efforts to surround the front-line city in Ukraine’s eastern Donetsk region. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$82,474,422.91 worth of shares was traded on the NSX on Friday with about N$ 3,757,100 worth of shares belonging to Oceana Group and N$ 4,600 from Namibia Breweries on the home front. No ETFs were traded on Friday.

HEI Market Commentary

From the trading activity that took place:

• Oceana Group’s share performance on the overall bourse slightly declined, amid the decline in the stock market
• Namibia Breweries shares were traded resulting in no change in share price at closing.

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

Several farmers' unions have accused the country’s meat processing parastatal of diverting funds meant to develop the meat industry to fund its "inefficient" internal operations. (Sun Newspaper)

The National Housing Enterprise’s workers are expected to embark on industrial action to force the board and management to meet their demands as the collective bargaining process has deadlocked (New Era Newspaper)

Gideon Vos has been appointed Bank Windhoek's head of Investment Banking at Corporate and Institutional Banking, effective from Wednesday, 11 January 2023. (The Namibian)

Sub-Sahara News

SA's largest poultry producer, Astral Foods is calling on the government to remove value-added tax (VAT) on chicken products. (News24)

Shares of Adani Group companies continued to see sharp losses for a second consecutive trading session in India after short seller firm Hindenburg announced its short position in the conglomerate’s firms earlier this week. (CNBC Africa)

Central Bank of Nigeria (CBN) has announced a 10-day extension of the deadline for the use of old naira notes across Nigeria. (All Africa News)

International News

Israel appears to have been behind an overnight drone attack on a military factory in Iran, a U.S. official said on Sunday. (Reuters)

Asian stock markets are trading mostly higher in thin-holiday trading on Monday, following the broadly positive cues from global markets on Friday, with most markets closed for the Lunar New Year holidays, as some traders looked to pick up stocks at relatively reduced levels following recent weakness. (RTT News) Chancellor Olaf Scholz has again pushed back against demands in Germany and from Ukrainian officials for fighter jets to repel Russia’s invasion, urging Western nations not to join a “bidding war” for sophisticated weapons. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$61,128,744.38 worth of shares was traded on the NSX on Thursday with about N$17,526,971 worth of shares belonging to Anglo-American plc and N$6,600 from SBN Holdings Ltd on the home front. No ETFs were traded on Thursday

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s share performance on the overall bourse slightly declined as the price of gold softens
• SBN Holdings shares were allotted through one transactional deal, resulting in a 20% increase in share price at closing.

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

NamPower has started devising mitigating strategies on how to deal with power supply in the event that troubled South African utility Eskom can no longer fulfil its contractual obligation. (Sun Newspaper)

The domestic construction sector recorded its fifth consecutive quarterly decline during the third quarter of 2022, contracting by 10.0% year-on-year (y/y). (New Era Newspaper)

The Public Service Union of Namibia (PSUN) said National Housing Enterprise (NHE) employees will vote tomorrow on whether to go on strike after the NHE failed to pay them due to their books not being audited. (The Namibian)

Sub-Sahara News

Eskom has launched the second phase of its land-lease programme that aims to secure as much as 500MW for the grid from independent renewable energy projects. (News24)

South Africa’s central bank on Thursday raised its main lending rate by 25 basis points to 7.25%, smaller than the 50-basis point increase expected by the majority of economists polled by Reuters. (CNBC Africa)

One 43-year-old Kenyan suspect, Liban Yasin Alishire, has pleaded guilty to one count of wire fraud and one count of money laundering, in his role that exploited a federally-funded child nutrition programme during the Covid-19 pandemic, announced U.S. Attorney Andrew M. Luger. (All Africa News)

International News

The U.S. economy grew faster than expected in the fourth quarter, but that likely exaggerates the nation's health as a measure of domestic demand rose at its slowest pace in 2-1/2 years, reflecting the impact of higher borrowing costs. (Reuters)

Asian stock markets are trading mostly higher on Friday, despite the broadly negative cues from global markets overnight, as traders remained cautious even as worries eased about interest rates following data showing cooling US inflation (RTT News)

Israeli troops have killed 10 Palestinians in one of the deadliest days in the occupied West Bank since Israeli raids intensified at the start of last year. (Aljazeera News)

Table 1: NSX Trades

NSX Activities

A total of N$ 2,980,044.32 worth of shares was traded on the NSX on Tuesday with about N$ 344,356 worth of shares belonging to Anglo-American plc and N$ 588,340 from Namibia Breweries on the home front. No ETFs were traded on Tuesday.

HEI Market Commentary

From the trading activity that took place:

• Anglo-American’s performance declined amid the JSE Index dropping as controversies on President Ramaphosa continues
• Namibia Breweries shares were traded by one market participant, with no change in share price a closing.

Table 2: Primary listed Trades

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Table 3: Dual Listed Trades

Table 4: ETFs

Table 5: Exchange Rates and Commodities 

Local News

OneWeb announced the signing of a distribution partnership with Paratus Group (Paratus), the pan-African telecommunications company. (Sun Newspaper)

Khaibasen Garden Project farmers at Ganamab, who last year were funded by the United Nations Development Programme (UNDP) to the tune of US$50,000 to grow tomatoes, white and yellow maize, green peppers, potatoes, and watermelons, predict a bright future (New Era Newspaper)

The Ministry of Fisheries and Marine Resources has reduced the total allowable catch (TAC) of horse mackerel for the 2023 fishing season to 290,000 tonnes.(The Namibian)

Sub-Sahara News

The economy was surprised with strong growth in the third quarter, with the construction and mining sectors growing for the first time in more than a year. (News24)

South Africa’s economy grew 1.6% in the third quarter in quarter-on-quarter terms from a contraction of 0.7% in the second quarter, better than economists had predicted, official data showed on Tuesday. (CNBC Africa)

Pharmaceutical companies like Pfizer and Johnson & Johnson produced vaccines at huge costs, shutting out poorer nations. This is despite calls for a collaborative effort, by the World Health Organization (WHO) and calls for richer nations to help countries unable to afford vaccines. Poorer nations in Africa, Asia, and Latin America found themselves last in the queue and African leaders bemoaned the crisis unfolding in their countries. (All Africa News)

International News

A third Russian airfield was set ablaze by a drone strike a day after Ukraine demonstrated an apparent new ability to penetrate hundreds of kilometers into Russia with attacks on two air bases. (Reuters)

Asian stocks ended Wednesday's session broadly higher despite weak data from China and worries about the worsening Covid-19 situation in the country. (RTT News)

The United Nations humanitarian chief says Russia’s “sustained” attacks on Ukraine’s energy infrastructure, as temperatures fall below freezing, has created a “new level of need” in a war he has called “senseless”. (Aljazeera News)