NSX hosts Gala Dinner
The Namibian Stock Exchange (NSX) recently held a Gala Dinner in celebration of its 30th Anniversary.The Chief Executive Officer (CEO) of the NSX, Tiaan Bazuin, opened the event with welcoming remarks by laying out the history of the NSX since its birth in September 1992.
Bazuin further touched on the future prospects of the NSX drawing special attention to the upcoming launch of an electronic bond trading system, the current application process towards becoming a full member of the World Federation of Exchanges in respect of which only 10 other African stock exchanges are full members, and current processes underway for a license application to launch a Central Security Depository (CSD) in light of the recent gazetted of the CSD Standards.
The Chairman of the NSX, David Nuyoma, highlighted amongst others, the successful listing of Mobile Telecommunications Limited (MTC) as the largest capital raising on the NSX to date and the first by a state-owned company,.
Secondly, he highlighted NSX’s move into carbon footprinting by issuing a NamCode Directive directing institutions that subscribe to the NamCode to appoint a social, ethics and sustainability committee (SESC) as an annual standing committee in line with the evolving recognition and importance of environmental, social and governance (ESG) factors for investors and issuers alike.
Thirdly, he noted Namibia as one of the first African countries where the International Finance Corporation registered a Bond Program and issued notes in respect thereof on the NSX.
In addition, Nuyoma acknowledged NSX’s continued participation in the all-important debates and consultations leading to the drafting of various policies impacting the financial sector landscape in Namibia, and the NSX’s contribution to expanding the markets in the region by its participation in the Committee of SADC Stock Exchanges (CoSSE) and the African Securities Exchange Association (ASEA), as well as internationally through its affiliate membership with the World Federation of Stock Exchanges (WFE) and partnership with the United Nations Sustainable Stock Exchanges Initiative (SSE).
The keynote speaker, Dr. Frans Cronje of Frans Cronje Private Clients, an independent firm specializing in economic advice and strategy spoke extremely positively of Namibia and presented the three inherent advantages the country possesses for foreign entities to tap into in so far as the potential gains for Namibia as a transport and logistics hub is concerned. “The first is that investing in Namibia’s transport infrastructure is not a green-fields project. Basic infrastructure is good in terms of road, rail, port, air, and data and communications – although it would need to be expanded to meet potential demand. The second is that port, electricity, and rail infrastructure is fading in South Africa to an extent that its repair will be very costly and beset with political pitfalls that are deeply frustrating to businesses in South Africa and those trying to trade with Africa via South Africa.