The Namibia Securities Exchange (NSX) is reviewing its listing rules as part of its demutualisation process, with updates expected to align local rules with international standards.
The review aims to ensure that the exchange’s requirements meet both legislative obligations and international norms.
NSX Chief Executive Officer Tiaan Bazuin said the exchange periodically reviews its rules to maintain simplicity for companies and investors while ensuring compliance.
“The JSE requirements are much more cumbersome than the NSX requirements, but every few years we relook our rules to make sure they meet international norms and legislative imperatives,” Bazuin told The Brief.
The review follows recent reforms at the Johannesburg Stock Exchange (JSE), which announced a simplification of its listing requirements to reduce complexity and improve clarity for issuers and investors.
Bazuin emphasised that the NSX aims to make market access straightforward for all participants.
“We strive to make accessing the market as easy as possible for companies and investors,” he said.
Meanwhile, the NSX’s transition into a company under Namibia’s Financial Institutions and Markets Act (FIMA) is a key driver of the review. As part of this process, listing rules, policies and procedures are being examined to ensure full compliance with the new legal framework.
“The rules of the NSX, listing requirements and all policies and procedures are being reviewed as we change to a company as per FIMA,” Bazuin said.
The exchange has also launched voluntary sustainability reporting guidelines within the SADC region, encouraging disclosures without making them mandatory.
“We recently launched guidelines for sustainability reporting within SADC with the clear prerogative that such disclosures should be voluntary and not mandatory, although encouraged,” Bazuin added.
On capital raising, Bazuin noted that shareholder approvals remain governed by the Companies Act, while NSX-specific policies are still under review.
The timeline for implementing any updates depends on external factors related to FIMA, but Bazuin expressed optimism that the process could be completed by year-end.
“Depends on a few things outside our control, such as the announcement of FIMA, but hopefully by year end,” he said.
