Namibia: Namibians Can Now Invest in Silver Without Buying
[Namibian] Namibian investors can now invest in silver through the Namibia Securities Exchange (NSX), following the listing of a new silver investment product on the local stock market.
Namibian investors now have the opportunity to invest in silver through the Namibia Securities Exchange (NSX), with the launch of a new silver investment product known as the NewWave Silver Exchange Traded Note (ETN). This dual-listed product, available on both the NSX and the Johannesburg Stock Exchange, enables investors to benefit from fluctuations in silver prices without the need to physically own, store, or manage the metal.
Absa, Cirrus Securities, and the NSX jointly announced the listing, which was part of broader efforts to enhance Namibian investment options. The NSX's CEO, Tiaan Bazuin, emphasized the importance of adapting financial regulations to accommodate these new products, noting that Regulation 13 was last updated over a decade ago and lacks provisions for modern investment instruments.
Absa's Michael Mgwaba highlighted how the ETN broadens investor choice and deepens the capital market, connecting local investors to global opportunities. Cirrus Securities' Robert McGregor praised the product's industrial and investment value, offering a transparent, cost-effective way for Namibian investors to gain exposure to silver without dealing with the physical metal.
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