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Market Recap

Market Recap - 31 Jan 2019

WEEKLY market review

23 January to 29 January 2019

The local market remained subdued this week, with the NSX Local index flat at 618, and the NSX Overall Index up 2.26% to close at 1353. As at 29 January, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 12.7 billion, followed by FirstRand Namibia with N$ 11.6 billion, Namibia Breweries with N$ 9.4 billion, and Capricorn Investment Group with N$ 8.2 billion. In terms of volume Trustco Group lead the market with N$ 7.9 million worth of shares traded, with Namibia Breweries in second place with N$ 1.8 million worth of shares traded. The local currency gained 2.49% against the US Dollar, to close at N$ 13.62 per USD, and gained 1.6% against the British Pound, to close at N$ 17.81 per GBP. It closed at N$ 15.58 against the Euro, a gain of 1.84%.

After the release of Transparency International’s Corruption Perception Index for 2018, it was revealed that Namibia scored 53 out of 100. In terms of Sub-saharan Africa, Namibia dropped a spot and is thus now only the fifth least corrupt nation in the region. Namibia ranked behind

Seychelles (score 66), Botswana (61), Cape Verde (57) and Rwanda (56). The index ranks nations from the least corrupt (100 to the most corrupt (0).

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