Standard Bank Namibia’s Corporate and Investment Banking division has structured a N$1 billion foreign exchange risk management solution for Swakop Uranium, the operator of the Husab Mine.
With most of its revenue earned in US dollars and about 80% of its operating costs in Namibia dollars, Swakop Uranium faces significant exposure to USD/NAD exchange rate fluctuations.
According to Standard bank , the bank’s Global Markets team arranged a strip of forward contracts with a tenor of up to 24 months, enabling the mining company to lock in favourable forward rates, mitigate currency volatility and improve the predictability of its financial planning.
“This deal showcases the strength of Standard Bank’s Global Markets capabilities, combining local knowledge, regional expertise, and global reach to deliver solutions that make a real difference to our clients and to Namibia’s economy,” said Yolande Fourie, Standard Bank Head of Global Markets.
Beyond financial performance, Standard Bank said the partnership supports Swakop Uranium’s broader role in Namibia’s development.
The company contributes to job creation, skills development, local procurement and community upliftment, while also generating government revenue through taxes and royalties and supplying uranium for low-carbon nuclear energy.
The transaction was facilitated by close cooperation between Standard Bank Namibia and Standard Bank’s China team, which ensured cultural and linguistic alignment throughout the process.
“This initiative exemplifies Standard Bank’s purpose: ‘Namibia is our home, we drive her growth.’ By enabling Swakop Uranium to manage risk and unlock sustainable growth, Standard Bank continues to support Namibia’s journey toward a resilient and inclusive energy future,” Fourie said.
