The Namibian Stock Exchange showed mixed performance this week, with the NSX Local index remaining flat at 703 points while the Overall Index advanced 1.47% to close at 1799.7. FirstRand Namibia maintained its position as the exchange’s largest local company by market capitalization, valued at N$12.6 billion, followed by Capricorn Group at N$11.0 billion. Namibia Breweries and Mobile Telecommunications rounded out the top four, with market caps of N$6.0 billion and N$5.9 billion respectively. Trading activity was led by Oryx Properties, which saw N$3.4 million worth of shares changing hands, while FirstRand Namibia recorded N$2.0 million in trades. Letshego Holdings Namibia emerged as the week’s top performer, albeit with modest gains of 0.4% to close at N$5.1 per share. The Namibian Dollar showed strength across major currencies, gaining 1.08% against the Euro to N$19.14, while advancing 0.83% against the US Dollar to N$18.52. Similar gains were seen against the British Pound, with the currency appreciating 0.82% to close at N$22.94.
The country’s headline inflation rate showed significant cooling in January 2025, dropping to 3.2 percent from 5.4 percent a year earlier, though monthly inflation ticked up to 1.1 percent from December’s 0.2 percent. Core inflation, which excludes volatile food and energy prices, remained elevated at 3.7 percent, suggesting underlying price pressures persist. Regional variations were notable, with the capital region of Khomas leading inflation at 3.5 percent. The northern regions followed closely at 3.3 percent, while the coastal and southern regions registered a more modest 2.6 percent increase. Food and non-alcoholic beverages continued to be the main inflation driver, contributing 1.1 percentage points to the headline figure. Housing and utilities added 0.7 percentage points, while alcoholic beverages and tobacco contributed 0.5 percentage points, rounding out the top three inflationary pressures.
