Namibia To Close Budget Deficit Via JSE Bond Listing

Written by Staff

From Med Africa Times

The government of Namibia plans to tap into its Johannesburg Stock Exchange (JSE) listed bond facility and raise further money for its budgetary requirements.

The Minister of Finance, Saara Kuugongelwa-Ama­dhila said this week that during the 2014/15 fiscal year, the government plans to tap from the same JSE listed facility preferably during the third term of the fiscal year.

“However, the amount to be issued from this facility will be subjected to cash flow requirements of the government and when market conditions suit the issue,” the minister said this week responding to questions of the newspaper “The Namibian”.

In an interview to the local newspaper of Namibia, she said that the government has planned to finance 20% of its budget deficit through the implementation of bond issues on the international capital market, and the Johannesburg Stock Exchange (JSE).

“A large part of our deficit, about 80% will be financed through the use of loans in our home market, either through bonds or treasury bonds. The remaining 20% will be collected through the issuance of Eurobonds or through public offerings on the Johannesburg Stock Exchange, “said Ms. Kuugongelwa.

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