The market capitalisation of companies listed on the Namibia Securities Exchange (NSX) Local Index increased to N$55.3 billion at the end of the first quarter of 2026, supported by stronger share prices despite weaker trading activity, according to the Namibia Financial Institutions Supervisory Authority (NAMFISA).
In its Quarterly Statistical Report for the first quarter of 2026, NAMFISA said the market value of locally listed companies increased by 1.3% during the January to March period and by 14.2% compared with the same quarter last year.
The regulator also reported that the NSX Local Index, which tracks the performance of domestically listed companies, rose by 1.4% during the quarter to 819 index points, representing a 14.3% increase year-on-year.
“The NSX Local Index, which tracks the performance of domestically listed companies, rose by 1.4% over the quarter to reach 819 index points. On a year-on-year basis, the index recorded growth of 14.3%,” NAMFISA said.
The broader NSX Overall Index, which includes both locally listed and dual-listed companies, also recorded gains, increasing by 0.5% during the quarter and 25.1% year-on-year to close at 2,151 index points.
Meanwhile, the market capitalisation of companies listed on the NSX Main Board expanded by 0.4% over the quarter and 19.5% year-on-year to N$2.8 trillion.
Despite higher market valuations, trading activity in local equities declined during the period.
The value of locally listed shares traded fell 22.2% from the previous quarter and 33.2% compared with the first quarter of 2025, declining to N$86 million.
Beyond the equity market, NAMFISA reported that Namibia’s total domestic government debt, including foreign-denominated bonds listed on the Johannesburg Stock Exchange, increased by 4.5% during the quarter to N$152.9 billion.
According to the regulator, the increase reflected higher issuance of government bonds, corporate bonds, treasury bills, inflation-linked bonds and interest rate swaps.
The report also noted that Namibia’s annual inflation rate moderated to 2.1% in March 2026 from 4.2% a year earlier, while core inflation stood at 2.9%. Consumer prices increased by 0.2% on a monthly basis, with housing, utilities, food, non-alcoholic beverages, alcohol and tobacco remaining the largest contributors to inflation.
NAMFISA further noted that the Bank of Namibia maintained the repo rate at 6.50% during its February 2026 Monetary Policy Committee meeting, saying the policy stance remained appropriate to support economic activity while safeguarding the Namibia dollar’s peg to the South African rand.
