The local market was active this week, with the NSX Local index down 1.64% at 586, and the NSX Overall Index down 18.10% at 893. As at 18 March, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.3 billion, followed by FirstRand Namibia with N$ 8.9 billion, Capricorn Investment Group with N$ 8 billion, and Standard Bank Holdings Namibia with N$ 4.4 billion. In terms of volume Standard Bank Holdings lead the market with N$ 20.9 million worth of shares traded, with Namibia Breweries in second place with N$ 1.6 million worth of shares traded. The local currency lost 3.82% against the US Dollar, to close at N$ 16.55 per USD, and gained 2.58% against the British Pound, to close at N$ 20.05 per GBP. It closed at N$ 18.24 against the Euro, a loss of 1.41%.
The Namibia Statistics Agency released the inflation figures for the month of February 2020, and revealed that annual inflation is now 2.5% compared to 4.4% the same time last year, having reduced from the 2.1% recorded for January 2020. Decreases in price were due to Housing, water, electricity, gas and other fuels (-0.5% from 1.9%) which accounts for 28.4 percent of the overall NCPI basket, as well as Food and non-alcoholic beverages (2.8% from 5.9%) which accounts for 16.5 percent of the overall NCPI basket. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 2.8% compared to 2.7% last month, with Zone 2 (Khomas) seeing inflation of 2.1% compared to 1.0% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 2.5%, compared to 2.7% last month.