Location Windhoek, Namibia No. of listings 34 Volume N$3.27 billion (2011) Headquarters Windhoek, Namibia Type of business Stock exchange | Owner Members Market cap N$1.1 trillion (2011) Currency Namibian dollar Founded 1992 | |
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Key people David Nuyoma (Chairman)
Tiaan Bazuin (CEO) | ||
Bank windhoek holdings limited nsx namibian stock exchange
The Namibian Stock Exchange (NSX) (Afrikaans: Namibiese Effektebeurs; German: Börse Namibia) is the only stock exchange in Namibia. Based in Windhoek, it is one of the largest stock exchanges on the African continent. It has a partnership with JSE in neighbouring South Africa. The NSX is only open on weekdays, and trades continuously from 09:00 to 17:00 (WAT), excluding public holidays.
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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 (previously named the Lüderitz Stock Exchange). It opened at the start of the 1900s as a result of the diamond rush, 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, 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
As of February 2011 there are 34 companies listed on the stock exchange. In addition, there are 25 companies with more than one listing, and 17 companies also listed on the JSE in South Africa. The Namibian Stock Exchange has seven local listings.