Bank Windhoek issued Namibia’s first green bond to finance eligible green projects and assets. The bank, Namibia’s largest locally owned bank and its second largest lender, becomes the first commercial lender in southern Africa to issue such a bond.
The bond, listed on the Namibia Stock Exchange, raised 66.60 million Namibian dollars ($4.74 million) on a private placement basis according to a statement from the bank.
It has a coupon rate of three-month Johannesburg Interbank Agreed Rate plus 150 basis points, according to Bank Windhoek treasury sales and sustainability analyst Ruan Bestbier.
The bank is a unit of the Capricorn Group, an investment holding company with interests in banking, insurance and asset management in southern Africa.
Eligible projects in Namibia include renewable energy, energy efficiency and resource efficiency, green buildings, sustainable waste management, sustainable land use, clean transportation, sustainable water management and climate change.