Namibia Power Corporation (NamPower), in partnership with its two co-lead arrangers, Cirrus Securities and Nedbank Namibia Limited, yesterday successfully listed a N$5 billion Domestic Medium-Term Note (DMTN) Programme on the Namibia Securities Exchange (NSX).
The N$5 billion medium-term note programme has been specifically designed to allow a range of notes to be issued under it.
This includes green and sustainable notes to ensure NamPower can access the most suitable debt on the best terms, aligning with the planned projects for which funds will be applied.
A Domestic Medium-Term Note Programme allows an issuer to raise debt capital in a flexible and efficient manner over an extended period. Once listed on the NSX, the issuer can issue multiple tranches of notes (with varying tenors, currencies and interest rates) under a single approved programme without needing to seek fresh approvals for each issuance.
This structure enhances liquidity, transparency and investor confidence in Namibia’s fixed-income market.
“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,” said NamPower’s managing director Kahenge Haulofu.
Yesterday’s listing was officially celebrated with a traditional bell-ringing ceremony at the 2026 Cirrus Investor Conference in Swakopmund, attended by senior representatives from NamPower, the co-lead arrangers, the NSX and key stakeholders.
The establishment and listing of the DMTN Programme involved extensive preparation, including the Programme Memorandum, legal and regulatory approvals and collaboration with the NSX.
Over the past two years, the Cirrus and Nedbank teams successfully completed the structuring and documentation processes, culminating in yesterday’s listing.
“We are proud to have partnered with Nedbank Namibia as co-lead arranger on this landmark transaction. The successful listing of the DMTN Programme demonstrates and confirms the sophistication of Namibia’s debt capital markets and provides institutional investors with diversified investment opportunities,” commented Romé Mostert, director of Cirrus Securities, as one of the two co-lead arrangers.
While Cirrus led the preparation of the listing documents, the Nedbank team worked closely with NamPower to craft a new sustainable finance framework that aligns with the United Nations Sustainable Development Goals and other international benchmarks.
This framework was approved by way of a Second Party Opinion obtained from S&P Global.
This listing marks a significant milestone in NamPower’s financing journey.