The Namibian Stock Exchange (NSX) displayed mixed performance this week, with the NSX Local index edging up 0.09% to 683.7, while the NSX Overall Index declined by 0.71% to 1855. As of October 13, 2024, FirstRand Namibia maintained its position as the largest local company on the exchange, boasting a market capitalization of N$12.5 billion. It was followed by Capricorn Group at N$10.2 billion, Namibia Breweries at N$6.0 billion, and Mobile Telecommunications at N$5.7 billion. Letshego Holdings Namibia emerged as the week’s top performer, with its share price climbing 0.9% to close at N$4.70, while Standard Bank Namibia Holdings secured the second spot, ending at N$8.96 after a 0.6% increase. In terms of trading volume, Capricorn Group led the market with N$1.1 million worth of shares changing hands, followed by Standard Bank Namibia Holdings with N$0.8 million in transactions. Meanwhile, the Namibian Dollar showed strength against major currencies, gaining 0.14% against the US Dollar to close at N$17.45, 0.65% against the British Pound to N$22.77, and 0.38% against the Euro, ending at N$19.11. This currency appreciation, coupled with the stock market’s mixed performance, suggests a week of cautious optimism in Namibia’s financial markets.
The headline annual inflation rate for September 2024 dropped to 3.4 percent, a notable decrease from the 5.4 percent recorded in the same month the previous year. On a month-to-month basis, inflation also saw a decline of 0.2 percent, compared to the 0.3 percent increase registered in August 2024. The primary drivers behind the annual inflation rate of 3.4 percent in September were the categories of Food and Non-Alcoholic Beverages, which contributed 1.0 percentage points, followed by Housing, Water, Electricity, Gas, and Other Fuels, adding 0.9 percentage points. Alcoholic Beverages and Tobacco contributed 0.6 percentage points, while the Transport division, despite its substantial weight, made a smaller impact, contributing just 0.2 percentage points. When examining inflation across different regions, Zone 2, which includes the Khomas region, recorded the highest annual inflation rate at 4.3 percent. Zone 3, encompassing the //Kharas, Erongo, Hardap, and Omaheke regions, followed with a rate of 3.1 percent, while Zone 1, covering areas such as Kavango East, Kavango West, and Otjozondjupa, registered the lowest rate at 2.8 percent.
