Namibian stock markets continued their upward trajectory this week, with the NSX Local index gaining 0.21% to close at 723.1 points, while the NSX Overall Index posted a solid advance of 1.19% to reach 1813.7 points, building on the previous week’s positive momentum. As of June 8, 2025, the market capitalization hierarchy remains unchanged among the country’s largest listed companies. FirstRand Namibia continues to dominate with a market value of N$12.5 billion, followed by Capricorn Group at N$11.2 billion, Mobile Telecommunications at N$6.2 billion, and Namibia Breweries at N$6.0 billion. The week’s standout performer was Letshego Holdings Namibia, which delivered exceptional returns with its shares surging 5.3% to close at N$6.50 per share. Standard Bank Namibia Holdings secured second place among gainers, though with a more modest appreciation of 0.1% to settle at N$10.52. Standard Bank Namibia Holdings lead liquidity with N$1.2 million worth of shares traded during the week. Letshego Holdings Namibia, despite its strong price performance, recorded the second-highest trading volume at N$400,000. The Namibia Dollar staged a notable recovery against major international currencies, reversing last week’s losses. The local currency strengthened 1.23% against the US Dollar to close at N$17.78, while gaining 0.70% against the British Pound to finish at N$24.06. Against the Euro, the Namibia Dollar appreciated 0.82% to end the week at N$20.26.
Namibia’s private sector credit extension (PSCE) recorded marginal growth in April 2025, rising by N$19.0 million to reach N$118.69 billion in total outstanding credit. While the monthly increase was modest at just 0.02%, the annual growth rate of 4.8% signals a gradual recovery toward pre-COVID lending levels, with the first quarter of 2025 demonstrating particularly strong momentum in credit demand. Individual borrowers drove much of the credit growth, with household lending rising 0.2% month-on-month and 2.7% year-on-year to N$68.83 billion. Mortgage loans posted the strongest monthly growth among individual lending categories at 0.2%, while installment credit surged 14.95% annually – its highest growth rate since October 2015. However, overdraft facilities continued their declining trend, falling 2.7% monthly and 17.2% annually as individuals paid down existing balances. Corporate lending showed robust annual growth of 7.1%, though this moderated slightly from March’s 8.2% pace. The figure nonetheless represents the second-highest annual corporate credit growth since August 2022. Within corporate lending, the “other loans and advances” category performed particularly well with 4.3% monthly growth – the strongest since May 2024 – and 10.7% annual expansion. Corporate overdraft lending, while contracting 8.0% monthly, still achieved notable annual growth of 8.3%.
