Muted Start to 2026 as NSX Trading Slows During Holiday-Shortened Week

Muted Start to 2026 as NSX Trading Slows During Holiday-Shortened Week. Trading activity on the Namibia Securities Exchange (NSX) was subdued in the first week of 2026, reflecting a shortened trading period and lower investor participation during the year-end holiday season.

The NSX Local Index closed the week largely unchanged, with minimal price movement recorded across most locally listed shares. Turnover on the local board remained low, with trading concentrated in a limited number of counters, while several shares did not trade during the period.

Overall market activity was driven mainly by dual-listed stocks, which continued to track movements on offshore exchanges. Anglo American and other large dual-listed resource counters featured among the most actively traded shares, with prices largely mirroring performance on the Johannesburg Stock Exchange.

Exchange-traded products and development capital board listings recorded minimal activity, with no notable price changes reported during the week. No new listings were recorded on the exchange.

Bond market activity remained steady, with several government and corporate bonds trading through the automated trading system. Bond yields showed little movement, pointing to stable conditions in the local fixed-income market.

The exchange continued to publish routine corporate actions, including dividend declarations, trading statements and cautionary announcements. The weekly market report covers the period from 29 December 2025 to 2 January 2026.

According to the 2025 Namibia Financial Institutions Supervisory Authority annual report, overall market capitalisation of companies listed on the NSX increased by 10.7 percent year-on-year to N$2.4 trillion as at 31 December 2024. Over the same period, the NSX Overall Index rose by 10.3 percent to 1 801.18 points, while the NSX Local Index increased by 2.9 percent to 691.32 points.

Investment managers’ assets under management grew by 12.9 percent to N$284 billion. Pension funds remained the largest investors, with holdings of N$18.6 billion. As at the end of 2024, the NSX had 61 listed securities, reflecting continued growth in the number of listings.