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Namibia: bonds

A significant portion of Namibia’s GDP comes from the extraction and processing of minerals for export, in particular diamonds and uranium. Mining accounted for 8.8 per cent. of nominal GDP in 2010 and provided 40.6 per cent. of foreign exchange earnings. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds, and in 2010 approximately 1.5 million carats were recovered from Namibian mines. Namibia is the world’s fourth-largest producer of uranium, with almost 6,000 tonnes of contained uranium mined in 2010. Namibia also produces large quantities of zinc and smaller amounts of gold and other minerals such as copper and lead. Namibia’s other principal economic sectors include fishing, manufacturing and agriculture. Namibia’s principal exports include metal ores, diamonds, fish and manufactured products while its principal imports include machinery and equipment, transport equipment, food and beverages and chemical rubber and plastic products.
As at 1 September 2011, Namibia’s public debt was approximately N$16.8 billion, or 17.1 per cent of GDP. About a fifth of the debt is owed to bilateral and multilateral foreign creditors, while the rest is domestic debt. The Bank of Namibia has previously accessed the international lending markets in 2006 with a U.S.$50 million syndicated loan facility. The primary objective of this facility was to create a credit record with international lenders as a means of improving borrowing capability to enable the Government to supplement its foreign exchange reserve levels as and when required. Since 2005, domestic debt has declined gradually from approximately 23.1 per cent. of GDP to 15.9 per cent. at the end of 2010 due to strong fiscal consolidation and prudent fiscal policies. Privatisation receipts of 1.3 per cent. of GDP in 2006 from the sale of a telecommunications firm contributed to the decrease. Moreover, the Government paid certain external debts and redeemed maturing domestic debts in 2009/2010, which also reduced the public debt ratio.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
NAD 34 32 352 014 097
ZAR 4 2 892 000 000
USD 2 1 250 000 000
corporate
NAD 30 4 846 700 000
ZAR 9 2 872 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Namibia, 5.25% 29oct2025, USD - International bonds XS1311099540 5.25% 750 000 000  USD 10/22/2015 10/29/2025
Namibia, 5.50% 3nov2021, USD - International bonds XS0686701953 5.5% 500 000 000  USD 10/27/2011 11/03/2021

Domestic bonds outstanding volume

Monthly indices

Type: Sep 2019 Aug 2019
Africa bond issues outstanding amount
[24751] Amount of outstanding issues of Namibia corporate bonds 0.5015 0.5010
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Forex

Daily indices

Type: 10/16/2019 10/15/2019 10/14/2019 10/11/2019 10/10/2019 10/09/2019 10/08/2019
FOREX rates
[12677] USD/NAD 14.9344 14.8844 14.8433 14.7240 15.0482 15.1675 15.2904
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International bonds outstanding volume

Monthly indices

Type: Sep 2019 Aug 2019 Jul 2019 Jun 2019 May 2019 Apr 2019 Mar 2019
Africa international bonds outstanding volume
[21793] Namibia international bonds, USD bln 1.250 1.250 1.250 1.250 1.646 1.548 1.545
[21839] Namibia corporate international bonds, USD bln 0.000 0.000 0.000 0.000 0.197 0.095 0.094
[21885] Namibia sovereign international bonds, USD bln 1.250 1.250 1.250 1.250 1.449 1.452 1.450
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New domestic bonds volume

Monthly indices

Type: Sep 2019 Aug 2019
Africa new bond issues amount
[24749] Amount of new issues of Namibia corporate bonds 0.0000 0.0000
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New international bonds volume

Yearly indices

Type: 2018 2017 2016 2015 2014
Africa new international bonds volume
[19827] Annual new issues of Namibia sovereign international bonds, USD bln 0.000 0.000 0.035 0.875 0.000
[19873] Annual new issues of Namibia corporate international bonds, USD bln 0.000 0.027 0.011 0.040 0.028
[19919] Annual new issues of Namibia corporate international bonds, (financial sector) USD bln 0.000 0.027 0.011 0.040 0.028
[19965] Annual new issues of Namibia corporate international bonds, (non-financial sector) USD bln 0.000 0.000 0.000 0.000 0.000

New domestic bonds number

Monthly indices

Type: Sep 2019 Aug 2019
Africa new bond issues number
[24747] Number of new issues of Namibia corporate bonds 0 0
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Namibia, 5.25% 29oct2025, USD   USD 10/29/2025 10/16/2019 ***.** *.** 10/16/2019 ***.** *.**
Namibia, 5.50% 3nov2021, USD   USD 11/03/2021 10/16/2019 ***.** *.** 10/16/2019 ***.** *.**
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