In the local stock exchange this week, the NSX Local index experienced a slight dip of 0.10%, closing at 677.1, while the NSX Overall Index faced a more pronounced decline, down 1.30% at 1600.3. As of September 12, 2023, FirstRand Namibia secured its position as the leading local company on the exchange, boasting a market capitalization of N$ 13.0 billion. Following closely were Capricorn Group at N$ 8.2 billion, Namibia Breweries at N$ 7.6 billion, and Mobile Telecommunications at N$ 5.6 billion. Mobile Telecommunications emerged as the market leader this week, with its shares closing at N$ 7.5, marking a notable growth of 5.3%. In second place, Standard Bank Namibia Holdings closed at N$ 7.51, reflecting a solid 4.3% increase. In terms of trading volume, Letshego Holdings Namibia took the lead with N$ 2.0 million worth of shares traded, while Mobile Telecommunications followed closely in second place, with N$ 1.0 million worth of shares traded. Meanwhile, the local currency exhibited strength, gaining 1.55% against the US Dollar to close at N$ 18.90 per USD. Additionally, it appreciated by 2.16% against the British Pound, closing at N$ 23.60 per GBP. Against the Euro, the currency closed at N$ 20.33, reflecting a gain of 1.31%.
Namibia’s latest inflation figures, released by the Namibia Statistics Agency, reveal a notable decline in the annual inflation rate for August 2023. The data shows that the annual inflation rate stood at 4.7%, marking a significant drop from the 7.3% recorded in August 2022. The primary drivers of this inflation rate in August 2023 were identified as follows: Food and non-alcoholic beverages, which contributed 1.9 percentage points; Alcoholic beverages and tobacco, making a 1.1 percentage point contribution; and Housing, water, electricity, gas, and other fuels, which accounted for 0.7 percentage points. Other divisions collectively contributed 1.4 percentage points to the overall inflation rate. At the regional level, the data indicates that Zone 1, encompassing regions such as Kavango East, Kunene, and Zambezi, exhibited the highest annual inflation rate at 5.3%. Zone 2, which includes the Khomas region, recorded an annual inflation rate of 4.5%, while Zone 3, covering regions like Erongo and Omaheke, reported the lowest annual inflation rate of 4.0%.
Leave a Reply