What are the advantages for listing on the NSX?



  • Fresh capital and increased equity base for organic growth or to fund acquisitions
  • Decreased dependency on creditors
  • Enhanced availability of future funds through follow-on offerings as well as potentially easier access to other forms of finance, such as bank loans, as the company has shown that it is capable of meeting listing requirements, and its actions are subject to NSX regulations and public scrutiny
  • Lower costs of debt due to higher credit rating
  • Company’s shares can be used to finance acquisitions, as seller are more likely to accept marketable listed shares in exchange for their investment
  • A listing provides a basis for the valuation of a company’s shares, which is important for acquisitions, by the issue of shares


  • All shareholders will benefit from the establishment of a market for their shares, leading to a potentially higher demand and higher prices than would have been the case in a limited market
  • A listing enables original shareholders to realize part or all their holdings
  • Original shareholders may benefit from the increased liquidity of their investment brought about by a listing
  • Parastatals or government controlled corporations may make use of the stock exchange to broaden their shareholder base


  • The implementation of share incentive schemes may result in a significant improvement of the motivation of both staff and management. A listing would make such a scheme more attractive to employees, and facilitate its operation
  • The public attention focused on the company by the media may boost the morale of employees, as they share in the enhanced status of the company


  • Be associated with the most pre-eminent companies doing business in Namibia
  • The enhanced status brought about by a listing may favorably affect relations with banks, suppliers, customers and the Government
  • Stock exchange bulletins and reports in the financial press result in the greater publicity for the company and its product
  • Namibia capital markets continuously perform well due to strong and consistent political governance, sound national economic management, and social stability
  • Access to a diversified, deep investor base consisting of both local and international investors
  • Compels the company to improve its reporting, meaning better information is available for decision making, both internally and externally
  • There is no capital gains tax, marketable securities tax or stamp duty on deals executed on the NSX for foreign investors. The only special tax is Non-Resident Shareholders Tax at 10% of dividends. There are no general restrictions on foreign investment

Basic Requirements

  • Share equity amounting to N$1 million.
  • Minimum of 1,000,000 shares in issue.
  • Profitable trading record for three years.
  • Current audited profit of at least N$500,000 annual before taxation and interest.
  • Minimum of 20% of the shares to be held by the public.
  • Minimum of 150 shareholders.
  • Auditor’s reports for the previous three years
  • An acceptable record of business practice and management integrity


The Namibian Stock Exchange has established a Development Capital Board for listings of companies that do not comply with some or all of the above criteria. The purpose of this sector is specifically to facilitate listings of new ventures/businesses that do not have an adequate track record. (Such companies should have fully researched projects and at least 10% of the capital raised must be provided by management)


Procedure for Listing

  • All applications will always have to be brought through a Namibian sponsor. (For a list of local sponsors, see contact details below)
  • Documentation is sent to the NSX, with copies of the application and other details as set out in the NSX check-lists (available on request). The NSX will vet documentation and only when the documentation is complete and satisfactory it can be forwarded to the Listing Committee. Seven days should be allowed for this
  • Once the documentation is complete, the Executive Committee of the application and the Chairperson of the Listing Committee will be informed to convene a meeting
  • In the case of a dual-listing of a company already listed on another stock exchange, at least a further 21 days should be allowed for the Listing Committee to meet and give its approval if no serious problems arise. For a new listing, 63 days should be allowed for the Committee to consider documentation and give its approval if no major problems arise. (See below for longer procedure in the case of a public/private placing of shares before the offer)
  • After the Listing Committee has approved the application, then the Executive Committee should also give approval. Another one day should be allowed
  • Only when the Executive Committee has approved, may a company announce the fact that it will list on the NSX, send out invitations, etc. Under no circumstances should any publicity go out before the final approval is received from the Executive Committee although a company may confirm that it has applied once a full application has been received. At least another seven days are usually required for the company to make preparations for the listing ceremony


If you are interested in listing your company, or if you would like more information, please call the NSX team on: +264 61 227 647 or E-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.

The following sponsors will advise you throughout the different stages of the listing procedure:

Take up the challenge!!!!

Participate in the NSIC and learn more about the exciting world of finance and investment with the Namibian Scholars Investment Challenge. A joint initiative of the Namibian Stock Exchange (NSX), Financial initiative Literacy (FLI) and AIESEC.

Namibian Stock Exchange Contacts

Tiaan Bazuin – Chief Executive Officer
Alexandrea Ullrich – Chief Financial Officer
Johene Saal – Chief Information Officer
Namene Shejavali-Lungu – Chief Regulatory Officer
Namibian Stock Exchange
4 Robert Mugabe Avenue
Entrance from Dr. Theo-Ben Gurirab Street
P.O.Box 2401
Tel: +264 61 227 647
Fax: +264 61 248 531

Transfer Secretaries Contacts

Alexandrea Ullrich – Manager
Adelheid Scholtz – Senior Administrator
Carol-Ann Meintjies – Administrator
Annetjie Diergaardt – Administrator
Transfer Secretaries
4 Robert Mugabe Avenue
Entrance from Dr. Theo-Ben Gurirab Street
P.O.Box 2401
Tel: +264 61 227 647
Fax: +264 61 248 531
© 2024 Namibian Stock Exchange

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