History of the NSX
The first Namibian Stock Exchange was founded in Luderitz in southern Namibia at the start of the century, as the diamond rush brought hundreds of prospectors to the desert and whole towns sprung up. Photographs of the Lüderitzbucht Stock Exchange of 1910 show a range of companies and large numbers of stockbrokers. Within a few years, the rush was over and the exchange closed.
The idea of a second Namibian Stock Exchange was started as people planned to build an independent economy ahead of the 1990 national independence from South African occupation. Government gave full moral and legislative support, while funding came from 36 leading Namibian businesses, representing the full cross-section of interested parties in developing capital markets, who became founder members by donating N$10,000 each to act as start-up capital for the first three years of the exchange. The official launch, by then Finance Minister Gert Hanekom, was on September 30, 1992, and trading began the next day in the shares of Nictus, a local firm already listed in Johannesburg and on that day dual-listed in Namibia. At that stage there was only one stockbroker, who also acted as consultant. Since then, five more stockbrokers have joined and twice a year the NSX sets examinations for new stockbrokers.
The not for profit making Namibian Stock Exchange Association is the custodian of the license to operate the stock exchange. This body comprises 43 associate members (banks, listed companies, investment institutions, etc.) who sponsored the establishment of the NSX by each donating N$10,000. Each year these elect an Executive Committee (Chairman: Sebby Kankondi) of nine members of the business community, representing different business sectors, and the tenth member in attendance, represents NAMFISA (Namibia Financial Institutions Supervisory Authority), which is the commercialised financial services regulator. Sub-committees are appointed from time to time as need arises with Listings Committee meeting regularly. The NSX is regulated by the Stock Exchanges Control Act (1985, amended 1992) and overseen by the Registrar of Financial Institutions.
closing auction call session for ZA12 (dual listed) has been extended to 17:10 from 07 Jan 2013
|Namibian Stock Exchange|
|Remaining Non-trading days for 2013|
|01-Jan-14||New Year’s Day|
|28-Apr-14||RSA – Public Holiday|
|16-Jun-14||RSA – Youth day|
|09-Aug-14||RSA – Woman’s day|
|16-Dec-14||RSA – Day of Reconciliation|
|10-Dec-13||Remaining Trading days for 2013|
|05-May-14||Cassinga Day (day in lieu)|
|26-May-14||Africa Day(day in lieu|
|10-Dec-14||Int Human Rights Day|
|Central African Time|
|09h00 to 17h00 except 24 and 31 December when market closes at 12h11|