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The 2024/25 financial year borrowing plan released by the Bank of Namibia outlines a net financing need of N$15.3 billion for the financial year, including a significant Eurobond maturing in October 2025. The Bank of Namibia plans to source funds primarily through local government debt securities and external debt financing. The strategy includes raising N$12,8 billion from the domestic market, N$8,8 billion from fixed-rate bonds, N$2,9 billion from Treasury Bills (TBs), and N$1,1 billion from inflation-linked bonds. “A new fixed rate bond may be issued later in the year. If the domestic target is not met, a JSE-listed fixed-rate bond…

Germany’s official development assistance since Namibia's independence until 2023 amounts to approximately 1,6 billion Euro (roughly N$32 billion). In per-capita terms, Namibia is thus the largest recipient of German development cooperation in Africa, according to figures released German Embassy Windhoek. Employment creation, poverty reduction and reducing inequality is a central component of the relations between Namibia and Germany. The National Planning Commission and the Federal Republic of Germany, have since signed two government agreements on financial cooperation and technical cooperation between Namibia and Germany. These agreements cover three new programmes to the value of 19 million Euros (currently approximately, N$386…

Alexander Forbes Namibia Holdings Proprietary Limited has an outstanding principal of N$14 million on its of N$28 million loan it got in December 2020 for the refurbishment of the Namibia head office. The Senior Debt Facility (SDF) is an unsecured five-year term loan facility. Alexander Forbes Financial Services Namibia Proprietary Limited has provided a guarantee to the lender for this obligation. The outstanding principal of N$14 million and outstanding interest are payable at maturity, the company said. In December 2020 Alexander Forbes Namibia obtained a senior debt facility (SDF) of N$28 million dollars to finance the capital expenditure on the…

Namibia has been ranked in the top 10 in the Global Gender Gap by the World Economic Forum. Out of the 35 economies included in the group, 21 are in the top 100, and one, Namibia, is in the top 10. The top five performers in the region are Namibia (8th, 80,5%), South Africa (18th, 78,5%), Mozambique (27th, 77,6%), Burundi (38th, 75,7%), and Rwanda (39th, 75,7%). Over half of Sub Saharan African countries (18) have closed over 70% of their gender gap, and only Chad trails behind the two-thirds mark (57,6%). World Economic Forum said that in sixth place, Sub-Saharan…

Bannerman Energy Limited has announced significant further de-risking of its Etango uranium development in the Erongo Region through the completion of the Front-End Engineering and Design (FEED) and Control Budget Estimate (CBE) processes. The company said the completion of FEED and the CBE has refined the outcomes of the Definitive Feasibility Study (DFS) undertaken in late 2022, delivering enhanced accuracy and key cost estimates. Bannerman is currently undertaking early works construction activities for Etango-8, in parallel with offtake marketing and strategic financing works streams. Commenting on these outcomes, Bannerman Chief Executive Officer, Gavin Chamberlain, said: “The early development of our…

As a continuous improvement manager in Namibia’s insurance sector, I strive daily for efficiencies, operational excellence, and innovative customer service solutions. Observing the impacts of the 4th Industrial Revolution (4IR) on our industry has been an eye-opener. While the digital revolution of the past few decades has already disrupted how we work, the 4IR represents an even greater shift, one that will fundamentally alter how we live, work, and relate to one another. What is the 4IR? The 4IR is characterised by a fusion of technologies blurring the lines between physical and digital spheres. Driven by advancements in artificial intelligence…

Trustco Group Holdings believes that with a deleveraged balance sheet, the company can accelerate its diversification strategy to create value across its multi-sector investment portfolio. The company announced that backed by the support of the long-time anchor investors, including the founding family, Trustco has revealed a robust foundation for continued success going forward. Trustco has announced a landmark agreement to convert N$4,4 billion (USD 235 million) of debt into equity, paving the way for a planned US$100 million capital raise in the US markets. The agreement is expected to increase Trustco’s net asset value by approximately N$1,5 billion (US$79 million).…

The 2024 Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED) initiative recently highlighted the remarkable talents of individuals from Katima Mulilo, culminating in the celebration of three outstanding entrepreneurs. In collaboration with the Financial Literacy Initiative (FLI) and Basecamp Business Incubators, the Old Mutual Namibia Foundation is thrilled to announce the successful winners of the 2024 OM SEED Zambezi Region. Leading the charge and winning N$50 000 is Masule Branden Nchindo, the founder of BM Success Investment, specialising in horticulture and poultry farming. Nchindo's innovative approach to sustainable agriculture and his commitment to food security have set him apart.…