Finance Minister Ericah Shafudah says government is finalising a refinancing facility with three local banks to cover the remaining gap for the redemption of Namibia’s N$12.96 billion (US$750 million) Eurobond, due on 29 October 2025.
Shafudah said preparations for the repayment have been underway since the bond was issued in 2015.
“When we talked to investors back in 2015, when we issued this bond, many were not really sure that the Government of the Republic of Namibia would put in place the instruments necessary to ensure that, come the 29th of October, we would be able to redeem this bond,” she said on Monday.
She noted that about N$8.64 billion (US$550 million) has already been secured through reserves, contributions to a sinking fund, local markets and commercial banks.
“The refinancing facility is currently being processed to ensure a smooth transaction,” she said.
The Minister added that the redemption forms part of a wider debt strategy. She said domestic bonds GC25 in April and G125 in July 2025 had already been redeemed.
Looking ahead, Shafudah said fiscal prudence would remain key.
“Yes, in the long term, as we implement the programs and projects outlined in NDP6, we want to be cautious to ensure that we do not put our country into a debt trap. Fiscal sustainability remains my core target as I move forward,” she said.
