The NSX Local and NSX Overall indexes experienced gains in the local market this week, with the former up by 4.10% and the latter up by 1.31%, closing at 546.3 and 1580.5, respectively. As of 28 March 2023, Namibia Breweries emerged as the leading local company on the exchange with a market capitalization of N$ 9.5 billion, followed closely by FirstRand Namibia with N$ 9.4 billion, Capricorn Group with N$ 7.2 billion, and Mobile Telecommunications with N$ 5.3 billion. Standard Bank Namibia Holdings led the market this week with impressive growth of 62.5%, closing at N$ 8.45 per share, while Trustco Group Holdings came in second with a closing of N$ 0.56 per share after growth of 36.6%. In terms of trading volume, FirstRand Namibia took the top spot with N$ 2.9 million worth of shares traded, followed by Namibia Breweries with N$ 1.5 million worth of shares traded. On the currency front, the local currency performed well, gaining 2.19% against the US Dollar to close at N$ 18.14 per USD, and 1.19% against the British Pound to close at N$ 22.38 per GBP. Against the Euro, the currency closed at N$ 19.67, representing a gain of 1.50%.
Namibia’s latest inflation figures for February 2023 have been released by the Namibia Statistics Agency. Annual inflation has increased to 7.2%, compared to 4.5% in the same period last year, but is lower than January 2023’s 6.9%. The surge in the price index is attributed to the rise in prices of Food and non-alcoholic beverages, accounting for 2.6% of the increase, as well as Transport, accounting for 1.5% of the increase. Inflation in Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) increased to 7.6%, compared to 7.4% last month, while Zone 2 (Khomas) recorded inflation of 6.7%, up from 6.5% last month. In Zone 3 (Omaheke, Hardap, Karas and Erongo), inflation rose to 7.3% compared to 7.1% last month.