The local market was active this week, with the NSX Local index down 0.02% at 610, and the NSX Overall Index up 0.46% at 1312.
As at 21 January, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 10 billion, followed by FirstRand Namibia with N$ 9 billion, Capricorn Investment Group with N$ 7.8 billion, and Trustco Group with N$ 6.7 billion. In terms of volume Standard Bank Namibia lead the market with N$ 2.8 million worth of shares traded, with FirstRand Namibia in second place with N$ 1.7 million worth of shares traded.
The local currency lost 0.51% against the US Dollar, to close at N$ 14.48 per USD, and lost 0.75% against the British Pound, to close at N$ 18.79 per GBP. It closed at N$ 16.05 against the Euro, a loss of 0.11%.
The Institute for Public Policy Research has revealed its analysis of Namibia’s employment statistics show that of Namibia’s 725 742 people who are considered employed, only 307 067 are formally employed, with paid leave (both annual and sick leave), of which private employment (excluding government and SOE employment of 86 864 and 30 654 respectively) is only 189 549.
Formal employment in 2013 was 365 703 and it dropped to only 226 812 in 2016 before rebounding to 307 067, showing that formal employment is still less than half of official employment, which the IPPR suggests is a result of government failing to adequately allow for job creation in the private sector.
Since 2010, the population has grown from 2.06 million to 2.41 million, but the employed population has increased by only half that, from 534 912 to 725 742.