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Market Recap

Market Recap - 21 Feb 2019

WEEKLY market review

13 February to 19 February 2019

The local market remained somewhat subdued this week, with the NSX Local index down 0.04% at 617, and the NSX Overall Index up 0.68% at 1332. As at 19 February, FirstRand Namibia was the largest local company on the exchange, with market capitalisation of N$ 11.6 billion, followed by Namibia Breweries with N$ 9.4 billion, Trustco Group with N$ 8.8 billion, and Capricorn Investment Group with N$ 8.2 billion. Agra lead the market this week, growing by 0.67% to close at N$ 1.50 per share. In terms of volume Namibia Breweries lead the market with N$ 130 million worth of shares traded, with Trustco Group in second place with N$ 1.7 million worth of shares traded. The local currency lost 2.02% against the US Dollar, to close at N$ 14.05 per USD, and lost 3.32% against the British Pound, to close at N$ 18.34 per GBP. It closed at N$ 15.93 against the Euro, a loss of 2.15%.

Namibia Breweries has announced changes to its board, with it’s current Managing Director, Mr H van der Westhuizen, moving to a new position as CEO of the Olthaver & List Group at the end of June 2019. He will be replaced by Mr Marco Wenk, currently the Managing Director of Broll Namibia. NBL’s current Finance Director, Mr Graeme Mouton, will also be leaving to take over duties as the Managing Director of Pick n Pay. Mr Waldemar von Lieries, the current Finance Director of Pick n Pay, will be replacing him at Namibia Breweries.

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