In the local market this week, the NSX Local index was up 2.20% at 477.9, and the NSX Overall Index was down 0.49% at 1512.1. As at 6 September 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 8.8 billion, followed by FirstRand Namibia with N$ 8.1 billion, Mobile Telecommunications with N$ 5.6 billion and Capricorn Group with N$ 5.6 billion. Trustco Group Holdings lead the market this week, closing at N$ 0.55 per share after growth of 7.8%, with Namibia Breweries second, closing at N$ 42.5 after growth of 6.2%. In terms of volume Letshego Holdings Namibia lead the market with N$ 3.6 million worth of shares traded, with FirstRand Namibia in second place with N$ 2.4 million worth of shares traded. The local currency lost 1.91% against the US Dollar, to close at N$ 17.29 per USD, and lost 0.71% against the British Pound, to close at N$ 19.91 per GBP. It closed at N$ 19.91 against the Euro, a loss of 0.80%.
Private Sector Credit extension grew by N$ 342.9 million in July, a 0.3% increase month-on-month. Net credit advanced to individuals amounted N$ 35.3 million, while corporates were advanced N$ 320.5 million in credit. The majority of the credit advanced were for overdrafts, amounting to N$ 210.3 million, with Other Loans and Advances increasing by N$ 108.6 million. Mortgage loans accounted for N$ 32.2 million of credit advanced, with instalment sales accounting for the remaining N$ 4.7 million. Year-on-year, this represents a growth of 3.5% after normaling for the claims on non-resident private sectors that saw a large increase during January to March, and currently stand at N$ 6.97 billion.