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Market Recap 28 April to 4 May 2021

Market Recap 28 April to 4 May 2021

The local market was active this week, with the NSX Local index up 1.45% at 441, and the NSX Overall Index up 0.04% at 1385. As at 4 May, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 7 billion, followed by FirstRand Namibia with N$ 6.6 billion, Namibia Breweries with N$ 6.4 billion and Standard Bank Namibia with N$ 3.4 billion. Namibia Breweries lead the market this week with growth of 3.3% to close at N$ 31.00 per share, with Nictus Holdings Namibia in second place at N$ 1.80 per share after growth of 2.86%. In terms of volume Namibia Breweries again lead the market with N$ 1.3 million worth of shares traded, with Trustco Group in second place with N$ 307 thousand worth of shares traded. The local currency lost 0.73% against the US Dollar, to close at N$ 14.47 per USD, and lost 0.6% against the British Pound, to close at N$ 20.10 per GBP. It closed at N$ 17.38 against the Euro, a loss of 0.02%.


Market Recap April May 2021 Namibia Breweries FirstRand NSX Namfisa Capricorn Group Trustco Standard Bank


The Bank of Namibia and Namfisa released the Financial Stability Report last week, and indicated that the banking sector remained liquid, profitable and well capitalised in 2020, despite asset quality deterioration during the last year, when it breached the crisis time benchmark of 6% non-performance. Non-banking financial institutions also remained financially stable, but saw a moderation in asset growth, down to 4.8% in 2020 from 12.3% in 2019. While the Namibian Dollar depreciated against all the major currencies, there was nevertheless sufficient international reserves to maintain the currency peg with the South African Rand. Overall, household debt growth slowed from 5.4% in 2019 to 4.5% in 2020, as disposable income contracted by 1.7%. Corporate debt decreased from N$ 128.6 billion in 2019 to N$ 123.9 billion in 2020. Per these institutions, Namibia’s economy is expected to grow by 2.7% this year, and 3.3% in 2022.

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