HOW
DO YOU BUY AND SELL
What you can trade and
commission rates
Broker contact details
Foreign investment on the NSX
Investor protection
HOW TO TRADE:
Investors approach a stockbroker who is qualified to give advice and can
place orders to buy or sell shares or bonds on the NSX computer screens.
The computer will then execute orders by matching them with another order
during trading hours. Each deal must be for lots of 100 shares (100, 200,
etc), so the minimum investment is set by the price of the shares, but
with some shares currently at around 30 cents, the market is accessible
to a wide range of investors.
CHARGES:
The charges for dealing are the following percentage of the deal amount:
1.1% on deals up to N$10,000
0.935% portion up to N$20,000
0.715% portion
up to N$100,000
0.605% portion up to N$500,000
0.44% portion up to
N$5 million
0.385% portion above N$5 million.
Much lower rates apply
to trading on bonds. The brokerage rates include a transaction levy of
10% of brokerage, which is paid to the NSX.
TRADING
HOURS:
Monday-Friday 09h00-17h00 except for wintertime (first Sunday in April
to first Sunday in September) when it is 08h00-16h00. There is five minutes
variation at market open and close. The NSX is closed on Namibian and South African public
holidays.
SETTLEMENT:
Settlement is deal by deal and handled by
the brokers, using the Broker Deal Accounting system, taking place one week after trading
(T+5).
BROKER
CONTACT DETAILS:
Currently there
are four stockbroking firms registered with the NSX:
Irwin Jacobs Greene
(Pty) Ltd.:
P.O. Box 186, Windhoek
11th floor, Sanlam Centre, Independence Avenue.
Tel: (061) 238899
fax: 238936
E-mail: ijg@ijg.net
Namibia
Equity Brokers:
P.O. Box 27, Windhoek
1st floor, City Centre Building (West Wing), Levinson Arcade.
Tel (061) 256666
fax: 256789
E-mail: wmoroff@namibia-equities.com
Simonis
Storm Securities:
P.O. Box 3970, Windhoek
152
Robert Mugabe Avenue, Windhoek
Tel:
(061) 254194
fax:
254193
E-mail:aj@sss.com.na
Investment House Namibia:
P.O.Box 196, Windhoek
5 Conradie Street, Windhoek
Tel: (061) 237477
Fax:227321
E-mail: bvr@naminvest.com
FOREIGN INVESTMENT ON THE NSX:
There is no capital gains or marketable securities tax or stamp duty on deals. The only
special tax for foreigners is Non-Resident Shareholders Tax at 10% of dividends. There are
no general restrictions on foreign investment and none which currently affect NSX
investors. Foreign exchange regulations are related to those in South Africa through the
Common Monetary Area treaties, and the Namibia Dollar is linked 1-to-1 with the Rand.
Investors must apply through an "authorized dealer" (most commercial banks) for
free remittance of dividends and sales.
INVESTOR PROTECTION:
The NSX is structured to reduce risk, including the very fast settlement, agency basis for
equity dealing, and broker guarantees on their clients trades. The NSX stockbrokers and
the NSX each have N$10 million insurance policies. The rules regulate stockbroker
responsibility to clients and counter-parties.
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