The Namibian Stock Exchange (NSX) demonstrated positive momentum this week, with the Local index advancing 0.50% to 698.3 points and the Overall Index posting a more substantial gain of 1.86% to reach 1835 points. As of January 19, 2025, FirstRand Namibia maintains its position as the exchange’s largest local company with a market capitalization of N$12.5 billion, followed by Capricorn Group at N$11.0 billion, while Namibia Breweries and Mobile Telecommunications hold the third and fourth positions at N$6.0 billion and N$5.9 billion respectively.
Capricorn Group emerged as the week’s standout performer, leading both in price appreciation and trading volume. The company’s shares rose 2.3% to close at N$21.1, while dominating market activity with N$20.6 million worth of shares traded. Agra secured the second position in price gains, rising 0.8% to N$3.74, while Mobile Telecommunications recorded the second-highest trading volume at N$0.4 million. The Namibian Dollar showed significant strength across major currencies, appreciating 2.05% against the US Dollar to N$18.72, gaining 2.31% against the British Pound to N$22.79, and strengthening 1.46% against the Euro to close at N$19.29.
Namibia’s private sector credit extension (PSCE) showed modest growth in November 2024, expanding by 0.8% month-on-month to reach N$116.3 billion. The monthly increase of N$908.8 million brought the annual growth rate to 3.3%, reflecting a continued pattern of subdued credit demand in the economy. Over the past year, total credit extended to the private sector amounted to N$3.73 billion, with individuals accounting for N$2.07 billion and corporations taking up N$1.66 billion. The breakdown of credit extension reveals contrasting trends across different sectors. While other loans and advances showed robust growth of 10.3% year-on-year, mortgage loans experienced a slight contraction of 0.14%. The corporate sector’s credit growth slowed to 3.6% in November from 4.4% in October, primarily due to reduced demand from the real estate sector.
