Morning Market Roundup: 24 February 2025

Local Market Performance
Namibia’s stock market saw significant trading activity, with over 1.5 million shares exchanged across 15 deals, amounting to a total value of N$12 million. The financial sector led market transactions, contributing N$9.4 million, followed by consumer staples and discretionary stocks. Year-to-date, the market has recorded 9.17 million shares traded, reaching a combined value of N$537.9 million.

Sasol’s Secunda Plant Faces Uncertain Future
A new study in South Africa has raised concerns over the future of Sasol’s Secunda plant in Mpumalanga, predicting a decline post-2030 due to rising carbon taxes, stricter emission targets, and dwindling coal and gas reserves. Experts warn of economic repercussions, but Sasol maintains that the plant is not facing imminent closure. The company highlights its transition to renewable energy and efficiency improvements to sustain long-term operations.

Norinco’s Bid for Chemaf Assets in Congo
According to Reuters, China’s North Industries Corporation (Norinco) has adjusted its $1.4 billion bid for Chemaf SA’s copper and cobalt assets in the Democratic Republic of Congo. The revised proposal includes increasing the Congolese government’s stake to facilitate the transaction. The deal has been stalled due to a competing bid from state miner Gecamines, while U.S. officials continue to oppose China’s expanding influence over the region’s critical minerals.

Euro Strengthens Amid German Election Results
The euro gained momentum following the German opposition conservatives’ victory in the national elections, as reported by Yahoo Finance. Friedrich Merz is poised to become the next chancellor, but faces challenging coalition negotiations after the far-right Alternative for Germany (AfD) secured a historic second-place finish. Meanwhile, the U.S. dollar weakened as concerns over the country’s economic growth outlook mounted.

Latest Financial Indicators

• Currency Rates: The Namibian dollar trades at N$18.37 per US dollar, N$19.25 per euro, and N$23.22 per British pound.
• Commodities: Gold is valued at $2,937.09 per fine ounce, while Brent crude stands at $74.43 per barrel.
• Cryptocurrency: One Bitcoin is priced at $1,759,645.55.

Stay tuned for more updates on business and financial markets.