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Namibia could get 2nd stock exchange

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Staff writer ▼ | October 14, 2014
A local consortium NamFin-X have filed an application for an operating licence from the country's financial regulatory body, the Namibia Financial Institutions Supervisory Authority (Namfisa).
Namibia stock exchange
Good news   NamFin-X have filed an application with Namfisa
"It's a matter of how soon they can process the application and grant the licence.We know it's quite a lengthy process, but we hope it will not be too long," said NamFin-X official Helmut Angula.

Currently Namibia runs a single local bourse, the Namibian Stock Exchange (NSX) based in Windhoek. It is one of largest stock exchanges on the African continent. It has a partnership with Johannesburg Stock Exchange (JSE) in neighbouring South Africa.The stock exchange also operates under a license from the Namibian non banking financial regulator Namfisa, and is regulated by the Stock Exchanges Control Act (1985 and 1992).

The first stock exchange in Namibia was founded in Luderitz, previously named 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 the desert, who then built towns. After a few years, the exchange was shutdown following an abrupt end to the diamond rush an a subsequent unavailability of sustainable business

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