First Namibian Government Bond Lists On JSE

19/11/2012

The Republic of Namibia today listed its first Rand-denominated government bond on the Johannesburg Stock Exchange (JSE). With a R3 billion medium term note programme approved, the first tranche is an issuance of ZAR 850 million.

This follows other issuances in the past year that have helped expand bonds listed on the JSE to R1.45 trillion.

“The listing is a very positive development as it is an example of this exchange’s drive to build a listings venue for Africa across the government, state owned enterprise, corporate and infrastructure sectors. Listing on the exchange brings a number of positive benefits including transparency (from an issuer disclosure perspective), more trade after listing and secure settlement, increased transparency of trading prices and improved regulation,” says Graham Smale, Director of Bonds and Financial Derivatives at the JSE.

“Importantly, through this listing the Namibian government gains easy access to a wide range of intermediaries and end-investors through the network of JSE members and their clients.”