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NFA continues investor hunt

Absalom Iimbondi in action for Tigers. File photo

THE Namibia Football Association (NFA)'s interim secretary general Jochen Traut said Fifa and the Confederation of African Football (CAF) do not sponsor national football leagues.



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DJ Dreas heading to Rocking the Daisies

TOP Namibian DJ, Andreas Nambambi, aka DJ Dreas, will be performing at this year's Rocking the Daisies music and lifestyle festival, set to take place from 7 to 9 October in South Africa.


Getting the Pulse Racing

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AWARD-WINNING artist, writer, film producer and director Micheal Kahorongo, also known as Micheal Pulse, has been faced with many obstacles over the years, but has kept moving towards achieving his dreams.


Miss Namibia, Miss Teen Namibia to be crowned

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IT is pageant season again, as tonight Miss Teen Namibia will crown a new young beauty queen, replacing the reigning Alexis Swart and beginning her year of duty, in NBC's first live show since the pandemic brought events to a standstill in 2020.



 Business 

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The Peter Principle

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BEING SUBJECTED to the ineptness of staff at a Namibian Stock Exchange (NSX) listed commercial bank this week was a sobering experience.


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      Bond auctions for the month opens

      by Lazarus Amukeshe

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      THE state has put out a call for the first bond auctions for the month, seeking to borrow N$215 million by next Wednesday.

      The funds are spread over 14 active bonds – 10 fixed-rate normal bonds, and four inflation-linked bonds, which are expected to return N$175 and N$40 million, respectively.

      According to the national borrowing plan as released by the Bank of Namibia, the state plans to borrow some N$730 million this month.

      The mounting debt is paying good interest to investors.

      Bonds and treasury bills are some of the few instruments that are still paying above inflation rate, with the lowest bond paying a 8,5% coupon.

      On auction are the GC26, GC28, GC32, GC35, GC37, GC40, GC43, GC45, GC48 and the GC50.

      Of the above, the GC32, which is paying a 9% coupon, has been the most subscribed.

      Inflation bonds GI27, GI29, GI33 and the GI36 are all on auction, seeking to raise N$10 million each.

      Trading in government bonds has in part been the income pot of many non-banking financial institutions over the years, but private individuals have also desired to earn non-taxed coupons lately.

      Last year data from the Bank of Namibia shows individuals were allotted just about N$266 million worth of bonds for the whole year.

      The government last year borrowed over N$10 billion through bonds.

      For one to participate in government bonds, a minimum of N$50 000 is required, and applications need to be made with the Bank of Namibia.

      There have been promises by the government that a system would be introduced to allow individuals with smaller amounts to participate, however, this is yet to realise.

      The treasury still has to borrow over N$5,6 billion through bonds before the 2022/23 fiscal year closes.

      On treasury bills, yesterday, a 91-day treasury bill auction seeking to raise N$400 million was oversubscribed, with tenders submitted at N$766 million.

      This is still indicative of fewer investments remaining to chase available funds.

      Investment professional Immanuel Kadhila last week said the shallow nature of Namibia's capital market, the infrastructure funding gap, and the size of the country's long-term savings make a good case for infrastructure/projects bonds.

      Email: lazarus@namibian.com.na

      Twitter: @Lasarus_A


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