Morning Biz News 25 February 2025: Market Trends, Global Investments, and Banking Updates

Local Market Performance The Namibian stock market recorded a total of 1.57 million shares traded on Monday, amounting to a total value of N$41.77 million across 27 deals. According to the NSX report, the year-to-date traded volume has reached 9.67 million shares, with a cumulative value of N$579.69 million. The financial sector led the day’s trading with transactions worth N$34.28 million, followed by the consumer staples sector, which saw activity valued at N$4.68 million.

South Africa Hosts the B20 Summit Business Leadership South Africa CEO Busi Mavuso highlighted the importance of South Africa’s role in hosting the B20 Summit this week. The B20, an engagement group of the G20 that brings together business leaders worldwide, plays a crucial role in shaping policy recommendations for global economic development. Mavuso emphasized that the summit presents a significant opportunity for South Africa to strengthen its economic partnerships and policy influence on the global stage.

Access Bank Restores Digital Services Access Bank Plc Nigeria has fully restored its electronic banking services after a major disruption on Sunday that left customers frustrated. Business Day Nigeria reports that the bank reassured its customers that USSD banking, internet banking, ATMs, and other digital services are now fully operational. The bank issued an apology on its official X (formerly Twitter) handle, acknowledging the inconvenience caused and affirming its commitment to uninterrupted service.

Apple’s $500 Billion Investment Plan Tech giant Apple has announced plans to invest over $500 billion in the U.S. over the next four years, with a significant portion allocated to the establishment of an advanced manufacturing facility in Texas. According to BBC Africa, Apple aims to create 20,000 new jobs, focusing primarily on research and development, software engineering, and artificial intelligence (AI). The investment underscores Apple’s commitment to expanding its domestic operations and fostering technological innovation.

Latest Financial Indicators

• Currency Exchange Rates:
  • 1 Namibia Dollar = 18.38 USD
  • 1 Namibia Dollar = 19.24 EUR
  • 1 Namibia Dollar = 23.21 GBP
• Commodities:
  • Gold: $2,948.69 per fine ounce
  • Brent Crude: $74.43 per barrel
• Cryptocurrency:
  • Bitcoin: $1,697,724.51