Namibia: Namibians Can Now Invest in Silver Without Buying

What the report says

Namibian investors can now gain exposure to silver through the Namibia Securities Exchange after the listing of the NewWave Silver Exchange Traded Note, according to The Namibian as distributed by AllAfrica. The product was dual-listed on the NSX on Friday under the code NWNSLV, with its main listing on the Johannesburg Stock Exchange under NEWSLV. It was announced by Absa, Cirrus Securities and the NSX.

The ETN is designed to track the price of silver, allowing investors to benefit from changes in the metal’s value without having to buy, store or physically hold it. It trades in Namibian dollars on the local market. NSX chief executive Tiaan Bazuin said the listing fits the exchange’s wider effort to broaden investment choices and deepen the domestic capital market.

Bazuin also said Namibia’s financial rules need updating to reflect newer products such as ETFs and ETNs, noting that current Regulation 13 has not been revised in more than a decade. He said the NSX has already made recommendations to the Namibia Financial Institutions Supervisory Authority and the Ministry of Finance. Absa and Cirrus Securities said the new listing expands access to a globally relevant commodity theme through the local exchange and adds another investment option for Namibian portfolios. In general market terms, commodity-linked products like this can help diversify investments, though the article did not provide any performance forecasts or investor uptake figures.