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Market Recap 17 March to 23 March 2021

Market Recap 17 March to 23 March 2021

The local market remained active this week, with the NSX Local index up 1.06% at 448, and the NSX Overall Index down 4.32% at 1334. As at 23 March, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.77 billion, followed by FirstRand Namibia with N$ 6.7 billion, Namibia Breweries with N$ 6.4 billion and Standard Bank Namibia with N$ 4.2 billion. FirstRand Namibia lead the market this week with growth of 8.18% to close at N$ 25.00 per share, with Trustco Group in second place at N$ 2.35 per share after growth of 2.17%. In terms of Oryx Properties lead the market with N$ 7.5 million worth of shares traded, with Capricorn Group in second place with N$ 1.6 million worth of shares traded. The local currency remained stable against the US Dollar, to close at N$ 14.88 per USD, and gained 0.97% against the British Pound, to close at N$ 20.47 per GBP. It closed at N$ 17.63 against the Euro, a gain of 0.42%.

 

local market NSX Local index FirstRand Namibia Trustco Group

 

Paratus Namibia released their reviewed financial results for the six months ended 31 December 2020, revealing growth of 9.4% in recurring revenue, which is now N$ 150.4 million, but a decline in non-recurring revenue of 56.7%, which is down to 14.2 million. EBITDA was up 24.2% to N$ 46.9 million, with Net profit before tax up by 52.9% to N$ 21.9 million – the discrepancy being large depreciation on deployed infrastructure. In addition, the directors declared an interim dividend of 10 cents per share on 18 March 2021, to be paid on 18 May 2021. Paratus indicated that its investment into infrastructure continues unabated, with data demand up. Customers were connected in more location in Namibia than ever, with a new data centre set to be constructed, as well as a sub-sea cable landing site in cooperation with Telecom Namibia and Demshi Investments for the Equiano Submarine Cable System.

 

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