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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 53 45 489 760 046
ZAR 4 2 892 000 000
USD 2 1 250 000 000
corporate
NAD 27 4 133 750 000
ZAR 6 2 070 000 000
BWP 1 128 510 000

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, TB 18dec2020 9m - Domestic bonds 0% 450 000 000  NAD 03/19/2020 12/18/2020
Namibia, TB 11sep2020 6m - Domestic bonds 0% 450 000 000  NAD 03/12/2020 09/11/2020
Namibia, TB 5jun2020 3m - Domestic bonds 0% 450 000 000  NAD 03/05/2020 06/05/2020
Namibia, TB 5mar2021 12m - Domestic bonds 0% 530 000 000  NAD 03/05/2020 03/05/2021
Namibia, TB 27nov2020 9m - Domestic bonds 0% 460 000 000  NAD 02/27/2020 11/27/2020
Namibia, TB 19feb2021 12m - Domestic bonds 0% 500 000 000  NAD 02/20/2020 02/19/2021
Namibia, TB 22may2020 3m - Domestic bonds 0% 450 000 000  NAD 02/20/2020 05/22/2020
Namibia, TB 14aug2020 6m - Domestic bonds 0% 450 000 000  NAD 02/13/2020 08/14/2020
Namibia, TB 13nov2020 9m - Domestic bonds 0% 470 000 000  NAD 02/13/2020 11/13/2020
Namibia, TB 5feb2021 12m - Domestic bonds 0% 500 000 000  NAD 02/05/2020 02/05/2021

Domestic bonds outstanding volume

Monthly indices

Type: Feb 2020 Jan 2020 Dec 2019 Nov 2019 Oct 2019 Sep 2019 Aug 2019
Africa bond issues outstanding amount
[24751] Amount of outstanding issues of Namibia corporate bonds 0.4340 0.4508 0.4819 0.4492 0.4974 0.5015 0.5010
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Forex

Daily indices

Type: 03/27/2020 03/26/2020 03/25/2020 03/24/2020 03/23/2020 03/20/2020 03/19/2020
FOREX rates
[12677] USD/NAD 17.5746 17.2730 17.2941 17.5040 17.7769 17.5108 17.5034
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Historical yields

Daily indices

Type: 03/27/2020 03/26/2020 03/25/2020 03/24/2020 03/23/2020 03/19/2020 03/18/2020
10Y Government Bond Yields, Africa
[24269] Namibia 10Y YTM 12.503 12.752 13.453 13.400 12.742 11.751 11.751
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International bonds outstanding volume

Monthly indices

Type: Feb 2020 Jan 2020 Dec 2019 Nov 2019 Oct 2019 Sep 2019 Aug 2019
Africa international bonds outstanding volume
[21793] Namibia international bonds, USD bln 1.250 1.250 1.250 1.250 1.250 1.250 1.250
[21839] Namibia corporate international bonds, USD bln 0.000 0.000 0.000 0.000 0.000 0.000 0.000
[21885] Namibia sovereign international bonds, USD bln 1.250 1.250 1.250 1.250 1.250 1.250 1.250
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Inflation

Monthly indices

Type: Jan 2020 Dec 2019 Nov 2019 Oct 2019 Sep 2019 Aug 2019 Jul 2019
Inflation (Africa)
[15679] Inflation Rate (Namibia) 2.10 2.60 2.50 3.00 3.30 3.70 3.60
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New domestic bonds volume

Monthly indices

Type: Feb 2020 Jan 2020 Dec 2019 Nov 2019 Oct 2019 Sep 2019 Aug 2019
Africa new bond issues amount
[24749] Amount of new issues of Namibia corporate bonds 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000
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New international bonds volume

Yearly indices

Type: 2019 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 0.000 0.035 0.875 0.000
[19873] Annual new issues of Namibia corporate international bonds, USD bln 0.000 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 0.000 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 0.000

New domestic bonds number

Monthly indices

Type: Feb 2020 Jan 2020 Dec 2019 Nov 2019 Oct 2019 Sep 2019 Aug 2019
Africa new bond issues number
[24747] Number of new issues of Namibia corporate bonds 0 0 0 0 0 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 03/27/2020 **.** *.** 03/27/2020 **.** *.**
Namibia, 5.50% 3nov2021, USD   USD 11/03/2021 03/27/2020 **.*** *.** 03/27/2020 **.*** *.**
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