The local market was active this week, with the NSX Local index down 0.95% at 479, and the NSX Overall Index down 2.62% at 1091. As at 4 August, Trustco Group was the largest local company on the exchange, with market capitalization of N$ 8 billion, followed by Namibia Breweries with N$ 7.1 billion, Capricorn Group with N$ 6.9 billion, and FirstRand Namibia with N$ 6.1 billion. Trustco Group lead the market this week with growth of 4.6% to close at N$ 5.00 per share. In terms of volume Namibia Breweries lead the market with N$ 5.3 million worth of shares traded, with Trustco Group in second place with N$ 289 thousand worth of shares traded. The local currency lost 5.19% against the US Dollar, to close at N$ 17.38 per USD, and lost 6.32% against the British Pound, to close at N$ 22.72 per GBP. It closed at N$ 20.51 against the Euro, a loss of 5.97%.
The Bank of Namibia released its Money and Banking Statistics for June 2020, and revealed that growth in private sector credit extension increased during the month, standing at 2.8%, a 0.6% increase from the previous month. The higher growth was due to increased borrowings from households during the month, with household debt increasing by 8.1% for the month, up from 5.2% in May, and corporates contracting by 3.6%, down from 1.7% contraction in May. Overdraft credit grew by 0.8%, up from the 5% contraction during May, while Instalment credit contracted by 8.6%, with mortgage loans moderating to 1.8%, down by 1% from the previous month.