Chamwe Kaira
Trading on the Namibia Securities Exchange (NSX) was subdued in the first week of 2026, reflecting a shortened trading period and lower investor activity during the year-end holiday.
The NSX Local Index closed the week little changed, with limited movement across most locally listed shares.
Turnover on the local board remained low, with trading concentrated in a few counters, while several shares recorded no trades.
Overall market activity was driven mainly by dual-listed stocks, tracking movements on offshore markets.
Anglo American and other large dual-listed resource shares were among the most actively traded, with prices largely mirroring performance on the Johannesburg Stock Exchange (JSE).
Exchange-traded products and development capital board listings recorded minimal trading, with no notable price movements during the week.
Bond market activity remained steady, with several government and corporate bonds trading through the automated trading system. Yields showed little movement, reflecting stable conditions in the local fixed-income market.
No new listings were recorded during the week. The exchange publishes routine corporate actions, including dividend declarations, trading statements and cautionary announcements.
The NSX weekly market report covers the period from 29 December 2025 to 2 January 2026.
According to the 2025 Namibia Financial Institutions Supervisory Authority (Namfisa) annual report, the overall market capitalisation of companies listed on the NSX increased by 10.7% compared with the previous year, ending at N$2.4 trillion as of 31 December 2024.
The NSX overall index rose by 10.3% to close at 1 801.18 points, while the NSX local index increased by 2.9% to 691.32 points.
Investment managers’ assets under management grew by 12.9% during the period, reaching N$284 billion as at 31 December 2024, up from N$251.6 billion a year earlier.
Pension funds remained the largest investors in the local market, with holdings totalling N$18.6 billion.
Most investments were allocated to the domestic market, followed by the CMA region and offshore markets. The increase in domestic assets is linked mainly to regulatory requirements that encourage higher local investment.
As of 31 December 2024, the NSX had 61 listed securities, a 22% increase from the previous year. These included 30 listings on the main board, of which 12 were primary listings, nine on the development capital board, 21 on the exchange-traded products board, and one company quoted on the over-the-counter board.
During the same period, 10 FNB exchange-traded notes were listed on the ETP board.
Market capitalisation on the main board rose by 10.7% from N$2.21 trillion at the end of 2023 to N$2.44 trillion at the end of 2024. Local market capitalisation increased by 5.2% to N$46.4 billion, supported by positive market performance.
Caption
Trading on the Namibia Securities Exchange (NSX) was subdued in the first week of 2026.
- Photo: Contributed
