09 January 2025 Morning Biz News: Namibian Stock Performance, South Africa’s Economic Challenges, and Global Financial Updates

In the latest financial news, Letshego Holdings Namibia has emerged as the leader on the Namibian Stock Exchange for 2024, posting an impressive total return of 49.2%. This performance, based on the most recent figures, showcases Letshego’s strong position in the market. Nictus Holdings secured second place with a return of 30.4%, while Capricorn Group followed closely with a return of 24.7%.

Meanwhile, in neighboring South Africa, the manufacturing sector continues to face challenges. According to Reuters, the country’s manufacturing activity declined for the second consecutive month in December 2024. The purchasing managers’ index dropped to 46.2, down from 48.1 in November, signaling a slowdown in industrial activity. The seasonally adjusted PMI, sponsored by Absa Bank, remained below the critical 50-point threshold, indicating contraction in the sector.

Across West Africa, Ghana is grappling with rising inflation, which increased for the fourth consecutive month in December. The consumer price index rose to 23.8% year-on-year, primarily driven by higher food prices, as reported by CNBCAfrica.

On a global scale, the British pound has reached its lowest point in nine months, largely due to an increase in UK government borrowing costs. This decline coincides with a rise in UK 10-year borrowing costs, which have reached their highest levels since the 2008 financial crisis. Economists warn that the rising costs could lead to higher taxes or spending cuts.

Latest Financial Indicators:

• The Namibian dollar trades at 18.92 to the US dollar, 19.51 to the Euro, and 23.38 to the Pound.
• Gold is priced at 2,659 dollars 42 cents per fine ounce.
• Brent crude is standing at 77.05 per barrel.
• Bitcoin is valued at 1,796,383 dollars 24 cents per unit.

Stay tuned for more updates on these developments as they unfold.