Background

The Namibian Stock Exchange (“NSX”) is the only stock exchange in Namibia, with a total market capitalisation of US$ 145 billion as at end 2014, making it the second biggest exchange in Africa in those terms. The reason for this size is the large number of dual or secondary listings. The NSX actively pursues dual listings and focusses on ease of listings to diversify its market as well as deepen it with more local content. In recent years the NSX has added more sectors to our boards through various listings as well as commodity ETFs. The NSX has recently published the Corporate Governance Code for Namibia (“NamCode”) which is applicable on all listed companies as a replacement of the outdated King II compliance requirement. The IODSA co-authored the publication with the NSX.

The enhancement of the governance landscape has positively positioned Namibia on the African investment scene and resulted in the deepening of the Namibian capital markets as it opens our market to a larger international investing pool. Many more steps are required to truly open our markets, not least of which are the formalisation of our bond market and setting up a Central Securities Depository (CSD).

Within the Common Monetary Area the NSX is uniquely positioned as a stable and efficient market to address regional needs of Issuers as an alternative to the JSE.