The Namibian Stock Exchange (NSX) demonstrated resilience this week, with the Local index climbing 0.33% to 690.6 factors and the Overall Index advancing 0.44% to achieve 1853.1 factors. As of December 1, 2024, FirstRand Namibia maintains its place because the market’s most substantial native entity, boasting a market capitalization of N$12.5 billion, adopted intently by Capricorn Group at N$10.6 billion, with Namibia Breweries and Mobile Telecommunications rounding out the highest 4. Trustco Group Holdings emerged because the week’s standout performer, experiencing a 3.0% share worth improve to shut at N$0.34, with Capricorn Group following with a 1.7% acquire to N$20.5. Trading quantity was dominated by Standard Bank Namibia Holdings, which noticed N$37.0 million in shares exchanged, considerably outpacing Capricorn Group’s N$1.1 million. On the foreign money entrance, the Namibian Dollar confirmed combined efficiency, gaining 0.65% in opposition to the US Dollar to shut at N$18.00, whereas experiencing losses of 0.75% in opposition to the British Pound and 0.90% in opposition to the Euro, settling at N$22.87 and N$19.05 respectively.
Windhoek’s development market has proven outstanding resilience in October 2024, with constructing plan approvals surging considerably in comparison with earlier months. The residential sector emerged as a specific vivid spot, with constructing plan approvals growing 59.1% year-on-year and the worth of accredited residential items leaping a powerful 104.9%. This substantial progress signifies renewed confidence within the native property growth panorama. Property additions have equally carried out strongly, with year-to-date volumes rising 4.7% and values growing by 19.6%. The complete variety of constructing plans accredited reached 1,640, valued at N$1.76 billion, representing a modest 0.7% improve in approvals and a extra substantial 31.9% rise in complete worth in comparison with the identical interval in 2023. This monetary efficiency suggests underlying energy within the development sector regardless of broader financial challenges. The month of October particularly witnessed a major uptick in exercise, with 217 constructing plans accredited in comparison with simply 131 within the earlier month. While the worth of those approvals skilled a decline, the elevated quantity of approvals—notably in residential developments—indicators potential for continued progress and funding in Windhoek’s actual property and development markets.
