Chamwe Kaira
The government domestic debt increased both month-on-month and year-on-year at the end of December 2025.
Domestic debt stood at N$146.3 billion, rising by 1% from November and by 16% compared to December 2024.
The increase was recorded across Treasury Bills and Internal Registered Stock.
As a share of gross domestic product, domestic debt also rose on a monthly and annual basis.
By the end of December, domestic debt reached 52.5% of GDP, up by 0.5 percentage points month-on-month and 2.2 percentage points year-on-year, reflecting growth in both treasury bills and internal registered stock.
Outstanding treasury bills increased to N$46.74 billion in December, from N$46.16 billion in November.
The rise followed additional issuance across short-term instruments, including the 91-day and 182-day treasury bills.
Outstanding government bonds rose to N$89.89 billion in December, compared to N$89.17 billion the previous month.
The increase was spread across several medium- and long-term bond maturities.
Overall, total outstanding domestic debt increased during the month, showing continued reliance on the local capital market through both short-term treasury bills and longer-dated government bonds.
The central bank data shows a steady build-up in outstanding securities toward year-end as the government continued to use domestic instruments to meet its financing needs.
The government has said it is shifting its borrowing focus from foreign to domestic markets after redeeming a US$750 million eurobond.
The redemption was supported by a sinking fund built up over several years and covered through a syndicated facility arranged with domestic banks and coordinated by the Bank of Namibia.
The government secured about N$5.7 billion from a consortium of local lenders, including Standard Bank Namibia, First National Bank Namibia and Bank Windhoek, in partnership with ABSA Bank Namibia.
The US$750 million Eurobond, issued in 2015 at a 5.25% coupon, marked Namibia’s second entry into international capital markets.
Caption
Government domestic debt rose at the end of December.
- Photo: Contributed
