This week in the local market, the NSX Local Index saw a modest rise of 0.31%, closing at 687.6, while the NSX Overall Index dropped by 0.40% to finish at 1878.1. As of October 27, 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 with N$ 10.4 billion, Namibia Breweries at N$ 6.0 billion, and Mobile Telecommunications with N$ 5.7 billion. Trustco Group Holdings was the leader this week, closing at N$ 0.43 per share, reflecting a notable 22.9% growth. Capricorn Group also performed well, finishing at N$ 20.03, marking a 1.7% increase. In terms of trading volume, Capricorn Group led the market with N$ 6.7 million worth of shares changing hands, while Paratus Namibia Holdings followed with N$ 0.9 million in trade. On the currency front, the Namibian dollar weakened by 0.56% against the US dollar, closing at N$ 17.69 per USD. However, it gained 0.13% against the British pound, ending at N$ 22.92 per GBP, and saw a slight 0.04% increase against the euro, closing at N$ 19.11 per EUR.
New vehicle sales in Namibia showed mixed signals in September 2024, with total sales figures dipping slightly by 0.8% month-over-month to 988 units, down from 996 in August. Compared to September of last year, this marked a 5.2% decline, revealing a total of 9,471 vehicles sold year-to-date, a decrease from the 9,682 recorded during the same period in 2023. Passenger vehicle sales experienced the steepest drop, declining by 16.3% year-over-year to 435 units in September, continuing a trend of weakened demand. Toyota and Volkswagen accounted for 65.7% of passenger sales, indicating their robust presence in a this segment. Commercial vehicle sales showed more resilience, rising by 5.9% year-over-year to 553 units, though this represented a slight 0.2% decrease from August’s total. Light commercial vehicles led this segment with a 6.2% year-to-date increase, driven primarily by Toyota, which commanded a market share of 62.8%. Conversely, heavy commercial vehicles fell 6.0% year-over-year, revealing a disparity within the sector.
