Namibia Power Corporation (NamPower) has listed a N$5 billion Domestic Medium-Term Note (DMTN) programme on the Namibia Securities Exchange (NSX), creating a funding platform to support energy infrastructure and power sector expansion.
The programme, arranged with Cirrus Securities and Nedbank Namibia as co-lead arrangers, enables NamPower to raise capital through multiple issuances, including green and sustainable notes aligned with planned generation and transmission projects.
NamPower Managing Director Kahenge Haulofu said the listing gives the utility flexible and cost-effective access to domestic capital markets as it advances its investment pipeline.
“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 programme is designed to fund projects linked to energy security, grid expansion and the integration of new generation capacity, as Namibia seeks to reduce reliance on electricity imports and strengthen domestic supply.
Its establishment followed a two-year process involving structuring, regulatory approvals and coordination with the NSX. Cirrus Securities led the preparation of listing documentation, while Nedbank Namibia developed a sustainable finance framework aligned with international standards and the United Nations Sustainable Development Goals. The framework received a Second Party Opinion from S&P Global.
Cirrus Securities Director Romé Mostert said the listing highlights the depth of Namibia’s capital markets and provides investors with exposure to the country’s energy sector.
“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 transaction supports efforts to mobilise capital for the country’s energy transition.
“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.
The DMTN structure allows NamPower to issue multiple tranches of notes with varying tenors, currencies and interest rates under a single approved programme, improving funding flexibility and liquidity in the domestic bond market.
