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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Business / Economics

Morning Biz News Update – 27 January 2025

todayJanuary 28, 2025 11

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  1. Namibian Stock Exchange (NSX) Activity
    On 27 January 2025, the NSX recorded a total volume of 1,575,316 shares traded, valued at N$44.9 million across 34 deals. Financials and Basic Materials were the standout sectors, driving significant trade volumes and values. Year-to-date market activity has reached 4.54 million shares, totaling N$280.17 million across 334 deals.
  2. South African Rand Weakens
    The South African rand weakened yesterday, trading at 18.72 to the US dollar, reflecting a 1.7% decline from its previous close. This comes ahead of a week packed with significant data releases, including interest rate decisions from the Federal Reserve and the South African Reserve Bank, as reported by Reuters.
  3. Nigerian Naira Strengthens
    Nigeria’s naira saw a 0.6% increase, rising to N1,650 per US dollar in the parallel market on Monday, following the US dollar’s largest weekly loss. In the official FX market, the naira closed last week at N1,531 per dollar, showing improvement from the previous week, as indicated by Business Day Nigeria.
  4. China’s Factory Activity Contracts
    China’s factory activity contracted in January, reversing three months of growth. The official purchasing managers’ index dropped to 49.1, below the expected 50.1, signaling weaker-than-expected performance. This has sparked calls for stronger fiscal measures to bolster the economy, according to CNBCAfrica.

Financial Indicators:

  • Namibian Dollar: 18.73 to the US$, 19.65 to the Euro, 23.40 to the Pound.
  • Gold: Trading at $2,741.66 per fine ounce.
  • Brent Crude: $78.50 per barrel.
  • Bitcoin: Priced at $1,909,197.96.

Written by: Leonard Witbeen

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