In the local market this week, the NSX Local index was up 0.10% at 524.2, and the NSX Overall Index was down 4.86% at 1603.9. As at 14 March 2023, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.5 billion, followed by FirstRand Namibia with N$ 9.1 billion, Capricorn Group with N$ 7.2 billion and Mobile Telecommunications with N$ 5.3 billion. Letshego Holdings Namibia lead the market this week, closing at N$ 3.6 per share after growth of 2.3%, with Standard Bank Namibia Holdings second, closing at N$ 5.2 after growth of 0.2%. In terms of volume Namibia Breweries lead the market with N$ 0.2 million worth of shares traded, with FirstRand Namibia in second place with N$ 0.2 million worth of shares traded. The local currency gained 1.50% against the US Dollar, to close at N$ 18.15 per USD, and lost 1.24% against the British Pound, to close at N$ 22.07 per GBP. It closed at N$ 19.48 against the Euro, a loss of 0.23%.
Private Sector Credit extension grew by N$ 121.2 million in January, a 0.1% increase month-on-month. Net credit advanced to individuals amounted N$ 397.8 million, while corporate debt reduced by N$ 276.6 million in credit. The majority of the credit advanced were for overdrafts, amounting to N$ 481.4 million, with other categories decreasing. Mortgage loans reduced by N$ 189.2 million as credit reduced, with instalment sales reducing by N$ 42.8 million, and other loans and advances decreasing by N$ 128.2 million. Year-on-year, this represents a growth of 2.6%, with total credit outstanding at N$ 110.6 billion.