The Namibian Stock Exchange (NSX) ( af, Namibiese Effektebeurs; german: Börse Namibia) is the only
stock exchange in
Namibia
Namibia (, ), officially the Republic of Namibia, is a country in Southern Africa. Its western border is the Atlantic Ocean. It shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south and ea ...
. Based in
Windhoek
Windhoek (, , ) is the capital and largest city of Namibia. It is located in central Namibia in the Khomas Highland plateau area, at around above sea level, almost exactly at the country's geographical centre. The population of Windhoek in 202 ...
, it is one of
the largest stock exchanges on the African continent. It has a partnership with
JSE in neighbouring
South Africa
South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...
. The NSX is only open on weekdays, and trades continuously from 09:00 to 17:00 (
WAT
A wat ( km, វត្ត, ; lo, ວັດ, ; th, วัด, ; khb, 「ᩅᨯ᩠ᨰ」(waD+Dha); nod, 「ᩅ᩠ᨯ᩶」 （w+Da2)) is a type of Buddhist temple and Hindu temple in Cambodia, Laos, East Shan State, Yunnan, the Southern Provi ...
), excluding public holidays.
The stock exchange operates under a license from the Namibian non banking financial regulator NAMFISA. The stock exchange is regulated by the ''Stock Exchanges Control Act'' (1985 and 1992).
History
The first stock exchange in Namibia was founded in
Lüderitz
Lüderitz is a town in the ǁKaras Region of southern Namibia. It lies on one of the least hospitable coasts in Africa. It is a port developed around Robert Harbour and Shark Island.
The town is known for its colonial architecture, includ ...
(previously known as the Lüderitz Stock Exchange). It opened at the start of the 1900s as a result of the
diamond rush
A diamond rush is a period of feverish migration of workers to an area where diamonds were newly discovered. Major diamond rushes took place in the late 19th and early 20th centuries in South Africa and South-West Africa.
Diamond rushes by chrono ...
, which brought hundreds of prospectors to the desert, who then built towns. After a few years, the old exchange closed when the diamond rush ended and there was no more business.
Relaunch
The idea of a second Namibian Stock Exchange was started as people planned to build an independent economy ahead of the 1990 national independence from
South African occupation. The government gave the idea the go ahead and full legislative support,
while funding came from 36 leading Namibian businesses, representing the full cross-section of interested parties in developing capital markets, who became founder members by donating N$10,000 each to act as start-up capital for the first three years of the exchange. The official launch, by then Finance Minister
Gert Hanekom, was on September 30, 1992, and trading began the next day in the shares of Nictus, a local firm already listed in
Johannesburg
Johannesburg ( , , ; Zulu and xh, eGoli ), colloquially known as Jozi, Joburg, or "The City of Gold", is the largest city in South Africa, classified as a megacity, and is one of the 100 largest urban areas in the world. According to Dem ...
, and on that day dual-listed in Namibia. At that stage there was only one stockbroker, who also acted as consultant. Since then, five more stockbrokers have joined and twice a year the NSX sets examinations for new stockbrokers.
Listed companies
, there are 44 companies listed on the stock exchange. In addition, there are 33 companies with more than one listing, and 24 companies also listed on the JSE in South Africa. The Namibian Stock Exchange has ten local listings.
References
External links
*
Namibian Stock ExchangeNSE Profile
{{World Federation of Exchanges
1992 establishments in Namibia
Buildings and structures in Windhoek
Companies based in Windhoek
Economy of Namibia
Stock exchanges in Africa