THE value of the Namibian Stock Exchange (NSX) increased significantly last year driven by higher share prices, a rise in the volume of outstanding shares, and the listing of new instruments.

The market capitalisation of the NSX increased by 22, 4% to N$1 722,6 billion, the Namibia Financial Institutions Supervisory Authority (Namfisa) said in its 2015 annual report.

The NSX's massive capitalisation is contributed to dual listed companies including Anglo American plc, Firstrand Ltd, Paladin Energy Limited, Standard Bank Group Ltd and Paladin Energy Limited.

"This increase in the market value was mainly driven by the increase in the prices of shares and the 7,1% increase in the volume of shares outstanding. The listing of electronically traded funds added N$42,1 billion to the market capitalisation," Namfisa said.

The report said the market capitalisation of shares issued by companies incorporated in Namibia and primary-listed on the NSX, increased by 19,2% to N$22,3 billion.

"This increase is due mainly to the 17,2% gain in prices of shares quoted on the primary market. The price of the outstanding shares remained the same from 2013," the report said. The increases in the shares outstanding were due to net new shares quoted on the NSX.

During the year, Mediclinic International Ltd and PSG Konsult Ltd listed 1,9 billion net new shares on the main board. The Trustco Group Holdings Ltd transferred its shares from the local board as a primary listing to the main board as a secondary listing. Trustco's primary listing is now on the JSE in South Africa.

Namfisa said the prices of shares quoted on the NSX increased by 10,1% for the year compared with 1,3% in 2013.

"This performance is relatively better than the 7,6% of the JSE's FTSE/JSE All Share Index, which is a much larger and more liquid exchange than the NSX. The JSE's prices came off the relatively high gains of 22,6% in 2012 and 17,8% in 2013," the report said.