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Market Recap 2 to 8 November 2022

Market Recap 2 to 8 November 2022

In the local market this week, the NSX Local index was up 0.30% at 502.5, and the NSX Overall Index was up 3.89% at 1612.2. As at 8 November 2022, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.5 billion, followed by FirstRand Namibia with N$ 8.3 billion, Capricorn Group with N$ 6.7 billion and Mobile Telecommunications with N$ 5.3 billion. Letshego Holdings Namibia lead the market this week, closing at N$ 3 per share after growth of 6.4%, with FirstRand Namibia second, closing at N$ 31 after growth of 1.0%. In terms of volume Namibia Breweries lead the market with N$ 29.2 million worth of shares traded, with Capricorn Group in second place with N$ 0.4 million worth of shares traded. The local currency gained 2.59% against the US Dollar, to close at N$ 17.71 per USD, and gained 2.16% against the British Pound, to close at N$ 20.43 per GBP. It closed at N$ 17.84 against the Euro, a gain of 0.64%.

Market Recap Capricorn FirstRand Breweries Trustco Group Oryx Properties Asset Management FirstRand Namibia US Dollar USD British Pound GBP Euro


The Namibia Statistics Agency released the Trade Statistics Bulletin for September 2022, and revealed that the trade deficit during the month decreased by 41.2%, with a N$ 2.4 billion trade deficit compared to N$ 4.1 billion in August 2022. This is lower than the N$ 2.7 billion deficit recorded in September 2021. Exports increased by 2.3% to N$ 8.0 billion, with imports decreasing by 12.5% to N$ 10.4 billion. The increase in exports was mainly due to exports of precious stones (diamonds) increasing by N$156 million, printed matter increasing by N$141 million, uranium increasing by N$127 million, copper ores and concentrates increasing by N$73 million, soap, cleansing and polishing preparations increasing by N$59 million. The decrease in imports was mainly due to ores and concentrates of precious metals decreasing by N$389 million, sugar, molasses and honey decreasing by N$261 million, inorganic chemical elements decreasing by N$242 million, copper ores and concentrates decreasing by N$229 million and miscellaneous chemical elements decreasing by N$165 million. Botswana was Namibia’s largest export market (22.4%), with South Africa as Namibia’s largest import market (40.9%). Namibia’s airports accounted for the majority of exports (40.3%), with imports done mainly via road (52.8%).

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