Staff Reporter Windhoek-This year the Namibian Stock Exchange (NSX) celebrated 25 years since its launch on September 30, 1992. Trading began the very next day after the launch in the shares of Nictus, a local firm which was already listed on the Johannesburg Stock Exchange and on that day dual-listed in Namibia. At the launch the NSX’s market capitalisation was N$8.615 billion and in 2017 it is home to 43 companies with a market capitalisation of N$1.844 trillion. In 1992 the NSX had only one stockbroker, who also acted as consultant. Today, the NSX has four stockbrokers and twice a year the NSX sets examinations for new stockbrokers. Throughout the years, the NSX has grown significantly and is known to be the second largest stock exchange by market capitalisation in Africa. Since September 1992 over 75 companies have listed on the Main Board, the Development Capital Board (DevX) and Exchange Traded Fund of the NSX. Since its inception the NSX has pioneered the NamCode which has been very positively received by private, public and government sectors. Further plans in developing the Namibian capital market are the formalisation of the Bond Market, setting up of a Central Security Depository and the demutualisation of the NSX. The NSX/NBL Scholars Investment Challenge has been running for 15 consecutive years until 2002. This competition was started with the aim of promoting awareness amongst scholars and the general public on the role and operations of the Namibian capital market, whilst aiming to encourage broad-based participation by the Namibian public. The competition was then postponed for four years. Following a series of meetings with various universities in Namibia, the Financial Literacy Initiative (FLI) partnered with AIESEC Namibia to relaunch the competition after it was previously a competition for high schools. In collaboration with FLI and AIESEC the competition was inaugurated in March 2017. A total of 43 teams from the different universities, including IUM, NUST, Unam, Mancosa and Triumphant College entered the competition. This competition is based on virtual share trading on the pretence that teams are allocated an amount of N$500,000 to buy and sell shares listed on the NSX. The NSX competition is open to both undergraduate and graduate students with each university entering teams each comprising of three to four pupils.
New Era Reporter
2017-10-19 09:49:08 1 years ago