In the local market this week, the NSX Local index was up 7.94% at 538.6, and the NSX Overall Index was up 1.57% at 1503.8. As at 23 November 2021, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 10.3 billion, followed by FirstRand Namibia Limited with N$ 7.9 billion, Capricorn Group Limited with N$ 6.8 billion and Mobile Telecommunications Limited with N$ 6.6 billion. Namibia Breweries lead the market this week, closing at N$ 49.99 per share after growth of 19.0%, with FirstRand Namibia Limited second, closing at N$ 29.5 after growth of 1.5%. In terms of volume FirstRand Namibia Limited lead the market with N$ 5.5 million worth of shares traded, with Namibia Breweries in second place with N$ 1.4 million worth of shares traded. The local currency lost 2.14% against the US Dollar, to close at N$ 15.82 per USD, and lost 1.73% against the British Pound, to close at N$ 21.16 per GBP. It closed at N$ 21.16 against the Euro, a loss of 1.49%.
Namibia Asset Management released their reviewed financial results for the year ended 30 September 20201, and noted that their operating profit was down 21.99% to N$ 17.2 million, with their total comprehensive income down 10.81% to N$ 13.7 million. As a result, both basic as well as headline earning per share is down 14.3$ to 8.39c per share. However, net asset value per share increased by 0.8% to 15.84c per share, with assets under management increasing by 9.41% to N$ 18.6 billion. They noted that they remain confident with their track record and robust investment approach, and will continue to deliver value for all shareholders. As such, their board declared an ordinary dividend of 7c per ordinary share for the year, payable on 13 December 2021.