{"id":288178,"date":"2020-03-04T12:30:21","date_gmt":"2020-03-04T10:30:21","guid":{"rendered":"https:\/\/informante.web.na\/?p=288178"},"modified":"2020-03-04T12:30:23","modified_gmt":"2020-03-04T10:30:23","slug":"market-review-26-february-to-3-march-2020","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=288178","title":{"rendered":"Market review 26 February to 3 March 2020"},"content":{"rendered":"\n<p>The local market was quite active this week, with the NSX Local index down 0.1% at 597, and the NSX Overall Index down 4.06% at 1159.<\/p>\n<p>\u00a0<\/p>\n<p>As at 3 March, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 9.7 billion, followed by FirstRand Namibia with N$ 8.9 billion, Capricorn Investment Group with N$ 7.9 billion, and Trustco Group with N$ 5.1 billion.<\/p>\n<p>\u00a0<\/p>\n<p>In terms of volume Standard Bank Holdings Namibia lead the market with N$ 18.4 million worth of shares traded, with Namibia Breweries in second place with N$ 3.6 million worth of shares traded.<\/p>\n<p>\u00a0<\/p>\n<p>The local currency lost 2.34% against the US Dollar, to close at N$ 15.58 per USD, and lost 0.91% against the British Pound, to close at N$ 19.97 per GBP. It closed at N$ 17.41 against the Euro, a loss of 5.12%.<\/p>\n<p>\u00a0<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"761\" src=\"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/03\/Market-Recap-for-Web-4-March-2020-1024x761.png\" alt=\"Market NSX Local index overall\" class=\"wp-image-288176\" srcset=\"https:\/\/informante.web.na\/wp-content\/uploads\/2020\/03\/Market-Recap-for-Web-4-March-2020-1024x761.png 1024w, https:\/\/informante.web.na\/wp-content\/uploads\/2020\/03\/Market-Recap-for-Web-4-March-2020-300x223.png 300w, https:\/\/informante.web.na\/wp-content\/uploads\/2020\/03\/Market-Recap-for-Web-4-March-2020-768x570.png 768w, https:\/\/informante.web.na\/wp-content\/uploads\/2020\/03\/Market-Recap-for-Web-4-March-2020.png 1077w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n\n<p>\u00a0<\/p>\n<p>Letshego Holdings Namibia released their unaudited provisional annual financial statements for the year ended 31 December 2019, revealing that revenue was down 2% from the prior year, and net profit after tax decreased by 3.8% to N$ 451 million.<\/p>\n<p>\u00a0<\/p>\n<p>As a result, both basic and headline earnings per share decreased by 4% to 90c per share. Non-performing loans increased to 4.9% from 3.6% a year earlier, with staff and operational expenses increasing by 10%.<\/p>\n<p>\u00a0<\/p>\n<p>However, advanced to customers increased by 14% over the year. Letshego indicated that the lack of bottom-line growth is the result of the country\u2019s economic environment, with regulatory changes and increased competition set to put pressure on their interest margins.<\/p>\n<p>\u00a0<\/p>\n<p>They are continuing their focus on cost discipline and capital optimisation during the next year to enable sustainable delivery of their inclusive finance agenda.<\/p>\n\n\n\n<div class=\"alignnormal\"><!-- MetaSlider 271797 not found --><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":288177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-288178","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market review 26 February to 3 March 2020 - 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