21 Oct 2017 10:00am
WINDHOEK, 21 OCT (NAMPA) - The Namibia Stock Exchange (NSX) celebrated 25 years of existence on Thursday.
The NSX launched with four companies listed and a market cap of N.dollars 8,6 billion.
The NSX is now home to 43 companies with a market cap of N.dollars 1,844 trillion.
Market capitalisation, also known as market cap, refers to the total dollar market value of a company's outstanding shares the companys stock held by shareholders.
Speaking at a gala dinner in the capital, NSX Chief Executive Officer Tiaan Bazuin said they have tried to create a vibrant environment that creates opportunities for investors, and a safe trading environment.
If we are to grow the market and the economy to its true potential we need to create an investment environment where we also attract direct foreign investment and I have seen positive progress on this front, Bazuin said.
NSX Board Chairperson David Nuyoma said the stock exchange is an ideal platform where in a transparent manner, the market is placed in front of the public to buy stocks or shares in companies of repute that have been tested over many years.
Apart from the shares that are listed, the NSX also provides a platform for listing bonds, said Nuyoma.
He further added that they are now in the process of demutualisation, development of the bond market and central security depository in partnership with the Bank of Namibia.
Demutualisation will see the association transform into a company, while the central security depository will move the Namibian market away from paper certificates to electronic security and enhance NSX efficiency and make it much more attractive, he explained.