The local market was quiet this week, with the NSX Local index flat at 468, and the NSX Overall Index down 2.85% at 1165. As at 1 December, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.8 billion, followed Capricorn Group by with N$ 6.7 billion, Trustco Group with N$ 6.4 billion, and FirstRand Namibia with N$ 6.2 billion. Trustco Group lead the market this week with growth of 33.78% to close at N$ 4.00 per share. In terms of volume Namibia Breweries lead the market with N$ 29.5 million worth of shares traded, with Trustco Group in second place with N$ 284 thousand worth of shares traded. The local currency lost 0.47% against the US Dollar, to close at N$ 15.25 per USD, and lost 0.89% against the British Pound, to close at N$ 20.46 per GBP. It closed at N$ 18.41 against the Euro, a loss of 2%.
The Bank of Namibia released its Money and Banking Statistics for October 2020, and revealed that growth in private sector credit extension decreased during the month, standing at 1.4%, a 0.4% decrease from the previous month. The slow growth was caused by decreased borrowings from households during the month, with household debt increasing by 4.2% for the month, down from 5% in September, and by corporate credit contracting by 2.2%, the same as in September. Overdraft credit grew by 2.8%, down from the 3.8% growth during September, and while Instalment credit contracted by 9.7%, mortgage loans grew at 1.3%, the same as the previous month.