The Namibian Stock Exchange recorded cautious optimism this week, with both major indices posting modest gains amid steady trading activity. The NSX Local index edged up 0.12% to close at 728.1, while the broader NSX Overall Index demonstrated marginally stronger performance, advancing 0.26% to reach 1791.3. The exchange’s hierarchy remained unchanged as of July 6, 2025, with FirstRand Namibia maintaining its position as the market’s largest listed entity, commanding a market capitalization of N$12.5 billion. Capricorn Group held firm in second place with a valuation of N$11.2 billion, followed by Mobile Telecommunications at N$6.4 billion and Standard Bank Namibia Holdings at N$5.5 billion. Mobile Telecommunications emerged as the week’s standout performer, leading market gains with a 0.7% increase that pushed its share price to N$8.56. Standard Bank Namibia Holdings also contributed to the positive sentiment, albeit more modestly, with a 0.1% gain that saw its shares close at N$10.56. Trading volumes painted a different picture of market activity, with Standard Bank Namibia Holdings commanding the highest value of transactions at N$0.2 million worth of shares changing hands. Agricultural company Agra matched this figure, sharing the top spot for trading volume during the week. The Namibian dollar demonstrated notable strength against major international currencies, providing additional support to the domestic market outlook. The local currency gained 1.40% against the US Dollar, closing at N$17.58 per USD, while posting an even more impressive 1.72% advance against the British Pound to end at N$24.02 per GBP. Against the Euro, the Namibian dollar appreciated 0.90% to close at N$20.71.
Namibia’s private sector credit extension demonstrated continued strength in May 2025, with total outstanding credit reaching N$119.33 billion after expanding by N$640.9 million during the month. This represents a modest 0.5% monthly increase but a more robust 4.4% annual growth rate, significantly outpacing the five-year historical average of 2.6%. The performance reflects a healthy credit market that has maintained momentum despite some recent cooling in demand. Corporate borrowing drove much of the credit expansion, with businesses accessing N$502.1 million in new credit facilities during May, translating to a solid 1.0% monthly growth rate. Annual corporate credit growth reached 6.5%, exceeding the ten-year average of 5.9% and highlighting strong business confidence and investment activity. The corporate sector’s appetite for credit was particularly evident in overdraft facilities, which recorded their highest growth rate since May 2021, alongside robust expansion in other loans and advances categories. Individual borrowers showed more restrained credit uptake, with personal credit increasing by just N$166.7 million or 0.2% monthly, bringing the total individual credit portfolio to N$69.0 billion. While annual growth for individuals remained positive at 2.5%, this represented a significant slowdown compared to corporate borrowing patterns. The individual credit market showed mixed signals, with instalment credit posting strong annual growth of 13.8% while overdraft facilities for consumers continued their downward trajectory for the fifth consecutive month.
