Namibian investors can now gain exposure to silver prices through the Namibia Stock Exchange (NSX), giving them another option to diversify their portfolios without buying or storing the physical metal.

The NewWave Silver Exchange Traded Note (ETN) was dual-listed on the NSX on Friday under the code NWNSLV.

Its main listing is on the Johannesburg Stock Exchange under the code NEWSLV.

The listing gives investors a way to follow silver prices through a product traded locally in Namibian dollars.

It also links Namibia’s capital market to a commodity that is widely used in industries such as electronics, solar power and manufacturing.

For local investors, the move adds another choice beyond traditional shares and bonds.

It also comes as the NSX seeks to widen the range of investment products available through the exchange.

NSX pushes for wider investment choice

NSX Chief Executive Tiaan Bazuin said the silver ETN was part of efforts to give Namibians more investment options while developing the country’s capital market.

Bazuin also called for changes to financial rules covering newer investment products. He said Regulation 13, which governs certain investments, was last updated more than 10 years ago and does not fully address products such as ETNs.

The NSX has recommended regulatory changes to the Namibia Financial Institutions Supervisory Authority and the Ministry of Finance.

Bazuin said updated rules could give asset managers and pension funds access to more investment products while helping them spread risk across different assets.

Silver brings global exposure

Michael Mgwaba, head of exchange-traded products at Absa Corporate and Investment Banking, said the listing gives Namibian investors access to an international commodity through a local exchange.

“The secondary listing of the Absa NewWave Silver ETN on the NSX is a meaningful step in broadening investor choice,” Mgwaba said.

“For Namibia, this listing expands access to a globally relevant investment theme through a local exchange.”

Cirrus Securities Managing Director Robert McGregor said silver has long played a role in both industry and investment.

The ETN allows investors to gain exposure to the metal without having to buy, store or manage physical silver.

Absa and Cirrus expand local market

Absa is a major African banking group offering corporate and investment banking, retail banking and wealth services across several markets.

Cirrus Securities is a Namibian financial services firm that has worked with Absa on listed investment products, including the NewGold exchange-traded funds and the Namibia Bond ETF.

The NewWave Silver ETN adds another commodity-linked product to Namibia’s stock market, giving investors a local route to follow silver prices while broadening the range of assets available through the NSX.