NewWave Silver ETN lists on Namibia Securities Exchange, offering new investment option
Namibian investors can now invest in silver through the Namibia Securities Exchange NSX with the listing of the NewWave Silver Exchange Traded Note ETN. This product, dual-listed on the NSX under code NWNSLV and primarily on the Johannesburg Stock Exchange as NEWSLV, allows investors to benefit from silver price changes without physically owning the metal. The listing was announced by Absa, Cirrus Securities, and the NSX. NSX chief executive Tiaan Bazuin stated that this initiative expands investment choices for Namibians and highlighted the need for updated financial regulations to accommodate new investment products. Absa Corporate and Investment Banking head of exchange traded products Michael Mgwaba emphasized that the listing provides Namibian investors with access to an international investment opportunity via the local stock exchange, demonstrating Absa's commitment to developing African capital markets. Cirrus Securities managing director designate Robert McGregor noted silver's importance as both an industrial metal and an investment, offering a transparent and cost-efficient way for investors to add commodity exposure to their portfolios. This ETN follows previous collaborations between Cirrus Securities and Absa, including the NewGold range and the Namibia Bond ETF, further diversifying commodity-linked investment options in Namibia.
