The first silver exchange traded note was listed on the Namibia Securities Exchange on Friday morning, 07 August, offering local investors direct exposure to the exchange-traded silver price.
Trading under the code NWNSLV, the NewWave Exchange Traded Note (ETN) is a dual-listed JSE / NSX instrument which expands the range of commodity-linked investment instruments available on the local bourse. In South Africa the sponsoring broker is ABSA Corporate and Investment Bank.
The Namibian sponsoring broker Cirrus Securities, in a statement to announce the dual listing, said the NewWave Silver ETN tracks the performance of silver, allowing exposure to the metal without the complexities of holding the physical commodity.
NSX Chief Executive, Tiaan Bazuin, said: “The NSX mandate to deepen and diversify the Namibian capital market has progressed well through the introduction of various ETFs and ETNs, such as today’s NewWave Silver ETN. We congratulate Cirrus Securities and Absa on bringing this instrument to the NSX.”
Referencing the regulatory lag that often prevent innovative instruments from local listing, Bazuin said “It is also very important for our regulations to adapt to these developments. Regulation 13 was last updated more than 10 years ago and does not cater for these new products. The NSX has made recommendations to NAMFISA and the Ministry of Finance in this regard, and hopes to see action soon so that asset managers and pension funds can access a broader range of products and diversify their risk.”
Head of Exchange Traded Products at ABSA Corporate and Investment Banking, Michael Mgwaba, said: “The secondary listing of the Absa NewWave Silver ETN on the NSX is a meaningful step in broadening investor choice, deepening Namibia’s capital markets and connecting local investors to global investment opportunities. For Namibia, this listing expands access to a globally relevant investment theme through a local exchange. For Absa, it reflects our continued commitment to supporting the development of African capital markets by bringing high-quality, accessible and innovative investment solutions closer to investors.”
Cirrus Securities Managing Director, Robert McGregor, said: “We are proud to have facilitated the listing of the NewWave Silver ETN on the NSX. Silver has long been a metal of both industrial and investment significance, and this instrument gives Namibian investors a transparent, cost-efficient way to add commodity exposure to their portfolios. This listing is another step in our commitment to bring world-class investment products to the local market and give investors more ways to invest with confidence. It continues our long-standing relationship with ABSA following earlier collaboratio on the NewGold suite of ETFs and the Namibia Bond ETF.”
The Stock Exchange News Service (SENS) announced the dual listing as follows:
“The Board of Directors of Absa Bank Limited (“Absa”) is pleased to announce that the Listing Committee of the Namibia Securities Exchange (the “NSX”) has approved the listing of the NewWave Silver Exchange Traded Notes on the NSX.”
“The NewWave Silver ETN is currently listed on the Specialist Securities sector of the Main Board of the JSE Limited (“JSE”) under the NewWave Exchange Traded Note Programme (“NewWave ETN”). The dual listing will constitute a secondary listing of the existing NewWave Silver ETNs and will take effect from the commencement of business on Friday, 7 August 2026. The listing price of the NewWave Silver ETNs on the NSX will be equal to the current price as quoted on the JSE. The dual listing is intended to improve access for investors in Namibia and forms part of Absa’s broader initiative to expand its NewWave ETN offering across selected Absa presence markets in Africa.”
NSX Chief Executive, Tiaan Bazuin, Chief Representative Officer: ABSA Representative Office Namibia, Vivian Groenewald, Head of Exchange Traded Products at ABSA Corporate and Investment Banking, Michael Mgwaba, Cirrus Securities Managing Director designate, Robert McGregor.
