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

Business / Economics

04 February 2025- Biz News Wrap: Market Insights and Global Financial Developments

todayFebruary 4, 2025 8

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1. Namibia Stock Exchange Reports Steady Trading Activity The Namibia Stock Exchange (NSX) reported a total trade volume of 247,147 shares, valued at N$12.5 million, across 16 deals. The financial sector led the way, with more than 236,000 shares exchanged, amounting to N$8.2 million in total. Year-to-date, the NSX has seen 6.4 million shares traded, valued at N$369.8 million. This ongoing activity suggests a continued interest in market performance, with financial stocks driving the majority of transactions.

2. Botswana’s Economic Diversification Plan: President Duma Boko’s Vision Botswana’s President, Duma Boko, has unveiled ambitious plans to diversify the nation’s economy, which has been heavily dependent on diamonds. With a focus on job creation, Boko aims to develop new industries and reduce the reliance on a single commodity. As part of his broader strategy, Boko intends to dismantle the state-run power utility, positioning the country to embrace renewable energy and create additional avenues for growth. These moves also include increasing concessional borrowing to support infrastructure development and economic transformation.

3. Nigeria’s Oil Regulator Tightens Export Rules Nigeria’s oil regulator has announced that it will block export permits for producers who fail to meet their required domestic supply quotas, including those destined for the Dangote Refinery. Under the Petroleum Industry Act, oil companies are mandated to dedicate specific volumes of crude to local refineries before they can export. The move aims to ensure the country’s refineries, which have been underperforming for years, receive adequate supplies to meet domestic demand. This could represent a significant shift in Nigeria’s oil policy as the country works to improve its energy sector.

4. US Stock Futures Rise Following Trade Talks US stock futures experienced steady gains after President Donald Trump agreed to delay the implementation of steep tariffs on Canadian and Mexican goods for 30 days. This delay comes following a phone call between the two leaders, signaling a potential easing of trade tensions. As a result, Nasdaq futures climbed by 0.7%, S&P 500 futures rose by 0.5%, and Dow futures inched up 0.3%. The delay in tariffs has boosted investor sentiment, contributing to a positive outlook for US markets.

Latest Financial Indicators

  • The Namibia dollar is trading at 18.79 to the US dollar, 19.35 to the Euro, and 23.31 to the British Pound.
  • Gold is priced at $2,817.18 per fine ounce, with Brent crude standing at $75.67 per barrel.
  • For cryptocurrency enthusiasts, 1 Bitcoin is valued at a hefty $1,900,507.09.

Stay tuned for more updates on the latest financial news and market trends.

Written by: Leonard Witbeen

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