BoN makes N$15 billion available for Govt’s funding needs

Central bank governor Johannes !Gawaxab says during the 2024/25 financial year, the Bank of Namibia successfully availed just over N$15 billion in alignment with the government’s domestic funding needs.

“Funding was strategically secured across nominal bonds, inflation-linked bonds, and treasury bills. This funding was secured at favourable pricing as investor appetite remained strong, with auctions recording healthy bid-to-cover ratios of approximately two times,” he says.

He also says the government has reaffirmed its commitment to redeem the Eurobond maturing in October this year through a disciplined and transparent strategy.

“The bank has invested the sinking fund in safe and highly liquid USD-denominated assets. We will continue building the sinking fund which currently stands at US$46million, until redemption,” he says.