The local market was active this week, with the NSX Local index up 0.4% at 466, and the NSX Overall Index down 8.73% at 1359. As at 21 September, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8 billion, followed by Namibia Breweries with N$ 7 billion, Capricorn Group with N$ 6.7 billion and Standard Bank Namibia with N$ 3.4 billion. Agra Ltd lead the market this week with growth of 0.55% to close at N$ 1.83 per share, with Namibia Breweries in second place, closing at N$ 34.11 per share after growth of 0.24%. In terms of volume FirstRand Namibia lead the market with N$ 21 million worth of shares traded, with Standard Bank Namibia in second place with N$ 4.6 million worth of shares traded. The local currency lost 3.41% against the US Dollar, to close at N$ 14.81 per USD, and lost 2.28% against the British Pound, to close at N$ 20.22 per GBP. It closed at N$ 17.36 against the Euro, a loss of 2.72%.
The Namibia Statistics Agency released the inflation figures for the month of August 2021, and revealed that annual inflation is now 3.4% compared to 2.4% the same time last year, having increased from the 4.0% recorded for July 2021. The growth in the price index was due to increases in the prices of Food and non-alcoholic beverages accounting for 1.0% of the increase, as well as Transport accounting for 0.9% of the increase. Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.1% compared to 3.8% last month, with Zone 2 (Khomas) seeing inflation of 3.1%, compared to 3.6% last month. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 4.5%, compared to 5.0% last month.