The Namibian Securities Exchange (NSX) saw a significant increase in the total value of its listed companies in August, rising by 3.24% to N$3.15 trillion. This growth was driven mainly by strong gains in mining and bank shares. According to the NSX Monthly Report compiled by High Economic Intelligence, the exchange demonstrated sustained upward momentum across its principal boards. The report attributed this growth to a broad surge in primary mining resources and solid liquidity across primary and dual-listed financial sector equities.
Mining companies were among the biggest drivers of the increase, with Anglo American, one of the largest companies traded on the NSX, seeing its share price rise by 9.23% to N$915.60. The company's market value stood at about N$1.08 trillion, making it the most valuable counter on the exchange. The report noted that mining and natural resource companies delivered exceptional performance, with Anglo American's rise linked to strong copper portfolio restructuring updates. These developments added more than N$91 billion to Anglo American's market value during the month.
Other mining companies also recorded large increases, with B2Gold rising by 42.75% to N$88.62 a share and Paladin Energy increasing by 22.63% to N$134.29. Uranium and exploration companies also performed strongly, with DevX uranium developers surging sharply, reflecting global spot price gains and progress on Namibian project execution. Africa Bitcoin Corporation recorded the biggest increase on the exchange, with its share price rising by 85.66% to N$9.19.
Andrada Mining grew by 51.76% to N$1.29 after receiving approval from the Namibian Competition Commission for its Brandberg West earn-in agreement. Bannerman Energy rose 43.29% to N$51.47, while Asarian Energy increased by 29.59% to N$6.57. Elevate Uranium grew by 24.80% to N$3.12 and Deep Yellow rose by 23.66% to N$18.97. These significant gains in the mining sector contributed to the overall increase in the total value of listed companies.
Banks and other financial companies also attracted a large share of the money being invested and traded on the exchange. Major banking and financial services counters accounted for over N$320 million in combined value traded, serving as the central anchor of market liquidity during August's corporate reporting window. FirstRand was the most actively traded financial share, with investors buying and selling N$97.55 million worth of its shares during the month.
However, not all companies gained during the month. Oceana's share price fell by 14.09% to N$62.93, while Truworths dropped 13.91% to N$45.75. Vukile Property Fund fell by 6.90%. Despite these declines, the overall gains in large mining and financial companies were enough to drive the increase in the total value of listed companies. Nedbank's share price rose 5.32% to N$294.5, with investors trading N$79.38 million worth of its shares.
The NSX's growth in August was a significant development, with the exchange's total value increasing by almost N$99 billion. The mining and financial sectors were key drivers of this growth, with major companies such as Anglo American and FirstRand contributing to the increase. The NSX's sustained upward momentum across its principal boards is a positive sign for the Namibian economy.
Key points
- The total value of companies listed on the Namibian Securities Exchange increased by 3.24% to N$3.15 trillion in August.
- Mining companies, including Anglo American, B2Gold, and Paladin Energy, recorded significant gains in August.
- Banks and financial companies, such as FirstRand and Nedbank, also attracted significant investment and trading activity during the month.
