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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 17 20 635 293 524
ZAR 4 2 892 000 000
USD 2 1 250 000 000
corporate
NAD 24 3 442 000 000
ZAR 6 1 962 000 000

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
First National Bank of Namibia, FRN 20mar2020, ZAR - International bonds ZAG000142803 3 Month JIBAR + 1.85% 343 000 000  ZAR 03/20/2017 03/20/2020
Bank Windhoek, FRN 11nov2019, ZAR - International bonds ZAG000140278 3 Month JIBAR + 2.05% 160 000 000  ZAR 11/10/2016 11/11/2019
Namibia, 10.51% 1aug2026, ZAR - International bonds ZAG000138470 10.51% 335 000 000  ZAR 07/27/2016 08/01/2026
Namibia, 10.06% 1aug2023, ZAR - International bonds ZAG000138462 10.06% 157 000 000  ZAR 07/27/2016 08/01/2023
Namibia, 5.25% 29oct2025, USD - International bonds XS1311099540 5.25% 750 000 000  USD 10/22/2015 10/29/2025
Namibia, 8.26% 19nov2022, ZAR - International bonds ZAG000101478 8.26% 1 560 000 000  ZAR 09/18/2015 11/19/2022
Namibia, 9.595% 29jun2020, ZAR - International bonds ZAG000127366 9.595% 840 000 000  ZAR 06/18/2015 06/29/2020
Bank Windhoek, FRN 27mar2020, ZAR - International bonds ZAG000124843 3M JIBAR + 2.15% 299 000 000  ZAR 03/27/2015 03/27/2020
Bank Windhoek, FRN 19nov2018, ZAR - International bonds ZAG000110768 3M JIBAR + 1.8% 600 000 000  ZAR 11/19/2013 11/19/2018
Namibia, 5.50% 3nov2021, USD - International bonds XS0686701953 5.5% 500 000 000  USD 10/27/2011 11/03/2021

World Bond market statistics

Quarterly indices

Type I 2018 IV 2017 III 2017 II 2017 I 2017 IV 2016 III 2016
BIS volume of international-bond market of emerging countries
Namibian international bonds, USD bln 1.300 1.300 1.300 1.300 1.300 1.300 1.300
BIS net issues of international-bond market of emerging countries
International-bond net issue of Namibia, USD bln 0.000 0.000 0.000 0.000      

New issues of Emerging markets International Bonds

Yearly indices

Type 2017 2016 2015 2014
Annual new International Bonds issues (Africa)
Annual new issues of Namibia sovereign international bonds, USD bln 0.000 0.035 0.875 0.000
Annual new issues of Namibia corporate international bonds, USD bln 0.027 0.011 0.040 0.028
Annual new issues of Namibia corporate international bonds, (financial sector) USD bln 0.027 0.011 0.040 0.028
Annual new issues of Namibia corporate international bonds, (non-financial sector) USD bln 0.000 0.000 0.000 0.000

Emerging Markets International Bonds

Monthly indices

Type Sep 2018 Aug 2018 Jul 2018 Jun 2018 May 2018 Apr 2018 Apr 2018
African International Bonds Markets
Namibia international bonds, USD bln 1.554 1.548 1.578 1.563 1.588 1.594 1.599
Namibia corporate international bonds, USD bln 0.099 0.097 0.107 0.102 0.110 0.112 0.114
Namibia sovereign international bonds, USD bln 1.454 1.450 1.471 1.460 1.478 1.482 1.485
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Currencies

Daily indices

Type: 10/17/2018 10/16/2018 10/15/2018 10/12/2018 10/11/2018 10/10/2018 10/09/2018
Exchange Rates (Emerging Markets)
USD/NAD 14.2007 14.1569 14.3420 14.5314 14.6252 14.7561 14.5929
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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 05/18/2016 **.** *.** 05/18/2016 **.** *.**
Namibia, 5.50% 3nov2021, USD   USD 11/03/2021 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
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200 000
issues: local and international bonds
170
countries
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200 000
issues: local and international bonds
170
countries
Сbonds is a global Fixed income data platform
+7 812 336 97 21
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