NSX top and worst performers of 2023

The local board of the Namibian Stock Exchange (NSX) saw a total of N$527,3 million traded in 2023 from 1 564 deals, representing an N$82,17 million decrease from the N$609,6 million traded in 2022.

Overall, N$8,2 billion was traded on the NSX in 2023 from 5 519 deals, reflecting a decrease of N$5,3 billion from the N$13,5 billion traded in 2022.


The top-performing local share on the NSX in 2023 was Standard Bank Namibia Holdings, with a total return of 114%.

The financial services group’s share price recorded a 91,6% increase during the period under review, according to Simonis Storm data.

FirstRand Namibia Ltd retained its second-best performing share spot in 2023, with a return of 79,5%.

FirstRand Namibia Ltd’s share price recorded a 50,75% increase in 2023, with N$234,1 million worth of shares traded, an increase from N$148,9 million traded in 2022 and N$123 million traded in 2021.

The third-best performing share for the period under review was Letshego Holdings Namibia Ltd, which recorded a 58,8% return in 2023.

Its share price increased by 30,33%, with over two million shares worth over N$8 million traded.

Capricorn Group Ltd recorded a return of 38,7% during the period under review, with its share price up 30,08%.


Namibia Breweries Ltd was the worst-performing share on the NSX, down 31,54%, although offering a return of 24,8%.

Looking at asset class returns in Namibia for 2023, according to Cirrus Capital, NSX local shares were the top-performing asset class in 2023, with a total return of 42,3%.

Namibian Government bonds delivered a 17,4% return.

The worst-performing asset class was the overall index, up 5,8% for the year.
– The Brief

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