Bond Market

In 1992 the Namibian regulatory authorities approved a licence for the Namibian Stock Exchange (“NSX”) to list bonds on the NSX and to develop a market in Namibia.

Since 1992, although primarily a government bond market ,the NSX has provided a forum for the listing of bonds issued by local government, public enterprises and corporations. The Rules of the NSX, in terms of the Stock Exchange Control Act of 1985, provide for the listing, while the trading, clearing and settlement of debt securities, although managed by the NSX is the domain of the embryonic Namibia Bond Association (“NBA”).  The NBA adopted the Bond Exchange of South Africa (BESA) as its primary model. BESA became a wholly owned subsidiary of the Johannesburg Stock Exchange (JSE) in 2009.

The local Namibian bond market has expanded considerably over the years with more than 80 bonds been listed on the NSX, inclusive of a green bond issued December 2018. Bonds are traded OTC with secondary trades reported to the NSX.

Formalisation of the Bond Market soon to follow as the NSX received approval for the inclusion of the  Bond Trading System (MITS) on the Exchanges’ license from the Regulator.