Finance

Bank Windhoek becomes first Southern African bank to issue green bonds

Bank Windhoek becomes first Southern African bank to issue green bonds
Friday, 07 December 2018 12:59

In a statement published December 6, 2018, Bank Windhoek announced that it issued NAD66.60 million ($4.74 million) of green bonds, thus becoming the first credit institution in Namibia and in southern Africa to issue such bond aimed at funding eco-friendly projects.

The bonds, which will be listed on the Namibia Stock Exchange, have a coupon equivalent to the three-month Johannesburg Interbank Average Rate inflated by 150 basis point.

Leading Namibian bank, Bank Windhoek is a subsidiary of Capricorn group, an investment bank with participation in the bank, insurance and asset management sectors in Namibia, Botswana and Zambia.  

"As a member of Capricorn Group, Bank Windhoek aims to become the Green Financier of choice for sustainability projects in Namibia and in other countries in which the Group operates", said Baronice Hans, the bank’s managing director.

Green bonds are a small segment of the debt market aimed at funding environmental, clean energy and mass transit projects as well as low-carbon projects that will contribute to the adaptation to climate change. Since their introduction in 2007, green bonds have mainly been issued by development institutions like the World Bank and the International Finance Corporation (IFC). Investors appreciate the liquidity and the fixed returns of green bonds as well as the positive impact they would have.

On the same topic
Legal appeals and calls for stability following leadership shake-up delay the Group’s listing on the Central African stock exchange. Highlights ●...
Cenntro has signed a deal with Moroccan firm Electricove to build an EV assembly plant. The factory will assemble models like the Teemak and LS450...
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt. Highlights: ● Afreximbank to...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.