The Namibian Stock Exchange and the central Bank of Namibia are working together to create a central securities depository (CSD) for equities, bonds and bills traded. They are waiting for laws and regulations to be passed to get the new system operational.
The International Finance Corporation continues its programme of helping develop African debt markets by launching the first bond by a non-resident issuer in Namibia. It raised NAD 180 million (about $12m) which it will use for private sector development.
The Namibian government issued a debut US$500 million, 10-year Eurobond on 27 October and got a price of 5.75%, taking advantage of a lull in the capital markets turmoil.