Morning Biz News Update – February 7, 2025

The local market recorded a total trade volume of 1,593,411 shares valued at N$26.3 million across 34 deals on February 7, 2025. Year-to-date, total trade volume stands at 7.58 million shares, amounting to N$452.9 million across 572 transactions. Financials led trading activity with 1.1 million shares exchanged.

In international news, China has endorsed South Africa’s G20 presidency, reaffirming global cooperation despite US Secretary of State Marco Rubio’s boycott threats. The support is said to bolster Pretoria’s leadership as debates arise over South Africa’s diplomatic ties with BRICS nations, including China and Russia.

Meanwhile, Mali’s industrial gold production dropped by 23% to 51 metric tons in 2024, down from 66.5 tons the previous year, according to the mines ministry as per Reuters. The decline excludes Barrick Gold’s December output due to a dispute with Mali’s military-led government over a 2023 mining law.

The United States has published its latest monthly job growth data, with some analysts suggesting it indicates a slowing job market in the world’s largest economy. The President has blamed his predecessor, Joe Biden, for the lower-than-anticipated figures.

Financial Indicators

• The Namibia dollar trades at 18.52 to the US dollar, 19.10 to the Euro, and 22.94 to the British Pound.
• Gold is trading at $2,859.47 per fine ounce.
• Brent crude stands at $74.66 per barrel.
• Bitcoin is valued at $1,763,924.46