The government has now mobilised the full N$13.5 billion required to redeem Namibia’s Eurobond, which matures on 29 October, according to the Bank of Namibia (BoN).
The Eurobond, issued in 2015, was used to support national development, budget financing, and balance of payments needs.
BoN governor Johannes !Gawaxab confirmed that the funds have been secured in line with Namibia’s Sovereign Debt Management Strategy (SDMS), which promotes prudent fiscal planning and enhances investor confidence.
He said the transfer of funds will be completed ahead of the bond’s maturity date, reflecting the country’s strong operational preparedness and sound financial management.
“The payment will be made just before 29 October, and the BoN remains in close coordination with the Ministry of Finance to ensure timely transfer of funds to the relevant institutions servicing the loan obligation,” !Gawaxab said.
He added that the coordinated effort between the BoN and the finance ministry aims to mitigate foreign-exchange risks and safeguard Namibia’s financial stability.
The timely redemption, he noted, underscores Namibia’s commitment to maintaining its creditworthiness and reinforces investor confidence in the country’s standing on international capital markets.
The Eurobond repayment, based on an exchange rate assumption of N$17.50 per US dollar, marks a key milestone in the government’s debt management efforts.
This development follows finance minister Ericah Shafudah’s announcement in September, that the government was finalising a refinancing facility with three local banks to close the remaining funding gap for the Eurobond.
At the time, she said the government had already secured N$8.64 billion through foreign reserves, contributions to a sinking fund, and borrowing from local markets and commercial banks.
Shafudah noted that preparations for the Eurobond repayment had been underway since its issuance in 2015, in line with Namibia’s long-term debt strategy to ensure fiscal sustainability and investor confidence.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
