The local market was relatively quiet this week, with the NSX Local index up 0.2% at 440, and the NSX Overall Index up 2.73% at 1432. As at 1 June, Capricorn Group was the largest local company on the exchange, with market capitalization of N$ 6.9 billion, followed by FirstRand Namibia with N$ 6.7 billion, Namibia Breweries with N$ 6.4 billion and Trustco Group with N$ 3.7 billion. Standard Bank Namibia lead the market this week with growth of 1.69% to close at N$ 6.60 per share, with FirstRand Namibia in second place at N$ 25.15 per share after growth of 0.56%. In terms of volume Capricorn Group lead the market with N$ 1.5 million worth of shares traded, with FirstRand Namibia in second place with N$ 577 thousand worth of shares traded. The local currency gained 0.63% against the US Dollar, to close at N$ 13.76 per USD, and gained 0.61% against the British Pound, to close at N$ 19.48 per GBP. It closed at N$ 16.82 against the Euro, a gain of 0.90%.
Alpha Namibia Industries released their audited results for the year ending 28 February 2021, and revealed that their revenue was N$ 69.7 million for the year, with their profit for the year amounting to N$ 687 275. Basic earnings per share was thus at 4.1c per share, with their net asset value at N$ 9.98 per share. The group noted that they had acquired 70% of Hopsol Power Generation (Pty) Ltd and 80% of Hopsol Africa (Pty) Ltd during the year under review for N$ 88.6 million and N$ 56 million respectively, with the companies financials being consolidated in for 8 months and 11 months respectively. Alpha Namibia Industries noted that it will continue to make investments into renewable energy plants through acquisitions, in line with Namibia’s target to become a net energy exporter by 2030.