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    N$2.1 Billion is being sought by the Bank of Namibia through a signal to enhance N$4.2 Billion, the Central Bank divulged

    Posted On 24 Oct 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Abdul Rahman Bangura–

    Photo Credit: Depositphotos

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- This payment is twofold what the Bank was gazing for and benefits a financial strategy where there is money the more glancing for long-term and risk-free enterprises. The bonds that were up for auction have an adultness duration of a certain number of years
    and according to the auction results, they were all oversubscribed.

    Oversubscription was mainly rife on bonds with a longer maturing date – with the GC50 oversubscribed by N$147 million. The GC50 had N$60 million up on auction and was oversubscribed by 245%. It is paying a 10.5% token.

    Following the GC50, is the GC27 which was oversubscribed by 240%. On offer were both normal (N$1,6 billion) and inflation-linked (N$400 million) bonds, and the government was auctioning off as little as N$50 million.

    Government bonds are financial instruments through which the state borrows. The minimum amount for Namibia is N$50 000, and the coupon (interest) spent on this is invariably more than the normal interest expended on a savings account, as well as some money market products.

    Normal bonds pay a coupon of 8% and above, while inflation-linked bonds average between 4% and 4,8%. According to the government’s borrowing plan, the state is expected to sweep over N$2,7 billion from the market this month in fixed income securities, if treasury bills are incorporated.

    Even though the public has numerous routes to capitalize their savings, government securities demand the most reliable investment. Over the years, government bonds have been mainly taken up by pension funds.

    At least N$10.8 billion has been allotted to fixed-rate bonds, while inflation-linked bonds are projected to bring in the N$2.1 billion balance.

     

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    Unlimited Access  for $1.99 per Month. To Subscribe email: info@newafricabusinessnews.com

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
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    12 Comments

    1. Hannah October 24, 2021 at 5:16 am Reply

      Awesome report and the weekend newsletters. Gaborone in Botswana. Hannah

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Palo October 24, 2021 at 5:18 am Reply

      Love your weekend newsletters. You are the best. Luanda Angola. Palo

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Andy October 24, 2021 at 5:19 am Reply

      Thank you for the weekend newsletters. Andy in London, UK

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:45 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Hans October 24, 2021 at 5:26 am Reply

      Namibia is encouraging it’s Citizens to purchase Government bonds. Windhoek Namibia. Hans

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:45 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Bob October 24, 2021 at 5:38 am Reply

      Investment is the solution for our great Continent, Mother Afrika. As Africa is realizing, foreign aid is curse over Africa. The developed countries as they say, should use the so called aid for their Citizens that are catching hell every day, many homeless people, no food for many and no opportunity for many. They will never report that on their medias. Bob in Gaborone, Botswana

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:45 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Lisa October 24, 2021 at 5:43 am Reply

      Fan of new Africa business news. Love your daily reports and the unlimited access of the news through my annual subscription. Berlin, Germany. Lisa

      • New Africa Business News, Staff Correspondent October 24, 2021 at 5:44 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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