The Namibian Stock Exchange ( NSX ) ( Afrikaans : Namibiese Effektebeurs ; German : Börse Namibia ) is the only stock exchange in Namibia . Based in Windhoek , it is one of the largest stock exchanges on the African continent. It has a partnership with JSE in neighbouring South Africa . The NSX is only open on weekdays, and trades continuously from 09:00 to 17:00 ( WAT ), excluding public holidays.
8-738: The stock exchange operates under a license from the Namibian non-banking financial regulator NAMFISA. The stock exchange is regulated by the Stock Exchanges Control Act (1985 and 1992). The first stock exchange in Namibia was founded in Lüderitz (previously known as the Lüderitz Stock Exchange ). It opened at the start of the 1900s as a result of the diamond rush , which brought hundreds of prospectors to
16-483: A diamond rush, which led to the development of the town of Lüderitz and several mining settlements to come into existence - to be abandoned eventually to become ghost towns . In the 1990s, several frequency domain heliborne electromagnetic anomalies were discovered by Charles E. Fipke around Lac de Gras , a lake in the Northwest Territories of Canada . Several mines were established, leading to
24-627: The Canada diamond rush. See also [ edit ] Gold rush References [ edit ] ^ Roberts,Brian. 1976. Kimberley, turbulent city . Cape Town: David Philip pp 45-49 ^ "Unverwüstliche Felsenkirche zwischen Wüste und Meer" [Indestructible Rock Church between Desert and Ocean]. Gondwana History (in German) (92). supplement to various Namibian newspapers. ^ Power, Patrick (9 January 2013). "Arctic Star identifies Diamond Targets for Drilling in
32-492: The desert, who then built settlements in the area. After a few years, the old exchange closed when the diamond rush ended and there were no more business opportunities. The idea of a second Namibian Stock Exchange was started as people planned to build an independent economy ahead of the 1990 national independence from South African occupation . The government gave the idea the go ahead and full legislative support, while funding came from 36 leading Namibian businesses, representing
40-555: The discovery of an 83.50 carat (16.7 g) diamond on the slopes of Colesberg Kopje on the farm Vooruitzigt in South Africa led to the foundation of Kimberley Mine , and eventually the town of Kimberley . This diamond rush was termed the "New Rush", as diamond prospectors were already operating in the country. In 1908, the discovery of a diamond near Grasplatz station in German South-West Africa caused
48-466: The 💕 New diamond discovery triggering an onrush of miners seeking their fortune [REDACTED] The New Rush market, Kimberley, South Africa, 1873 A diamond rush is a period of feverish migration of workers to an area where diamonds were newly discovered. Major diamond rushes took place in the late 19th and early 20th centuries in South Africa and South-West Africa . Diamond rushes by chronology [ edit ] In 1871,
56-510: The full cross-section of interested parties in developing capital markets, who became founder members by donating N$ 10,000 each to act as start-up capital for the first three years of the exchange. The official launch, by then Finance Minister Gert Hanekom , was on September 30, 1992, and trading began the next day in the shares of Nictus, a local firm already listed in Johannesburg , and on that day dual-listed in Namibia. At that stage there
64-615: Was only one stockbroker, who also acted as consultant. Since then, five more stockbrokers have joined and twice a year the NSX sets examinations for new stockbrokers. As of April 2018, there are 44 companies listed on the stock exchange. In addition, there are 33 companies with more than one listing, and 24 companies also listed on the JSE in South Africa. The Namibian Stock Exchange has ten local listings. Diamond rush From Misplaced Pages,
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