Namibia Power Corporation (NamPower) has listed a N$5 billion Domestic Medium-Term Note (DMTN) programme on the Namibia Securities Exchange (NSX), giving the state-owned utility flexible access to domestic debt capital markets.
The listing was arranged in partnership with Cirrus Securities and Nedbank Namibia as co-lead arrangers.
The programme enables NamPower to issue a range of debt instruments, including green and sustainable notes, aligned with its planned infrastructure and energy projects.
NamPower Managing Director Kahenge Haulofu said the listing strengthens the utility’s ability to raise funding efficiently while supporting broader financial market development.
“We are delighted to list our Domestic Medium-Term Note Programme on the NSX. This platform provides us with flexible and cost-effective access to domestic capital markets and reinforces our commitment to contributing to the development of Namibia’s financial sector. We look forward to utilising the programme to support our strategic growth objectives while offering investors attractive debt instruments,” he said.
The establishment of the programme followed a two-year process involving structuring, documentation, regulatory approvals and collaboration with the NSX.
Cirrus Securities led the preparation of the listing documentation, while Nedbank Namibia worked with NamPower to develop a sustainable finance framework aligned with the United Nations Sustainable Development Goals and international standards. The framework received a Second Party Opinion from S&P Global.
Cirrus Securities Director Romé Mostert said the transaction highlights the depth of Namibia’s capital markets.
“The successful listing of the DMTN Programme demonstrates the sophistication of Namibia’s debt capital markets and provides institutional investors with diversified investment opportunities,” she said.
Nedbank Namibia Managing Director Martha Murorua said the partnership reflects a shared commitment to responsible capital mobilisation.
“Namibia’s energy future requires more than funding alone – it requires strong partnerships, clear governance and long-term thinking. Nedbank is proud to work alongside NamPower to develop frameworks that help attract capital that supports energy security while delivering meaningful environmental and social outcomes for the country,” she said.
Arvana Singh, Head of Sustainable Finance Solutions at Nedbank, said the transaction strengthens the bank’s role in sustainable finance on the continent.
The DMTN structure allows NamPower to issue multiple tranches of notes, with varying tenors, currencies and interest rates, under a single approved programme, improving efficiency, liquidity and investor participation in the domestic bond market.
