FirstRand Namibia launches N$500 Million Sustainability Note

FirstRand Namibia has successfully launched its inaugural N$500 million sustainability note. With Rand Merchant Bank (RMB) playing a pivotal role as Arranger, dealer, Sustainability Advisor, and Coordinator, this issuance under FirstRand's Namibia's Domestic Medium-Term Note Programme marks a key milestone in the bank's ongoing commitment to environmental and social responsibility. The strong investor response, with the issuance being 1.88 times oversubscribed, underscores the growing appetite for sustainable investment opportunities within the Namibian market.The proceeds of the sustainability note will be allocated to eligible green and social assets, reinforcing FNB Namibia’s commitment to financing projects that drive environmentalsustainability and social development. These include renewable energy, financial inclusion, and social infrastructure—critical areas that contribute to a more resilient and inclusive Namibian economy and support the national development agenda.Sustainability is at the core of FNB Namibia’s vision for a globally competitive Namibia. This sustainability note issuance not only strengthens the bank’s commitment to responsibleinvestment but also enhances the development of Namibia’s sustainable bond market, fostering greater investor engagement and long-term economic growth.This issuance was structured under FirstRand’s new Sustainable Finance Framework (SFF) which was published in November 2024, and which was independently assessed by S&P.FirstRand Namibia Group Treasurer, Selma Kapeng said the note issuance was a strategic investment in the lender’s commitment to sustainability. “FNB Namibia has successfully issued a N$500 million Sustainability Note, underscoring the bank’s strategic commitment to embed sustainability in our funding framework. The transaction aligns with global best practice, channelling proceeds towards impactful green and social initiatives that foster long-term resilience and inclusive economic growth,” Kapeng said. “Through this issuance, we reinforce our role as a catalyst for sustainable development while delivering value to investors and stakeholders alike,” she added. Monét Basson, transactor at RMB Namibia said the issuance of the note showed that FirstRand Namibia aligned to international best practices in its approach towards doing business. “RMB’s expertise in structuring innovative sustainable finance solutions that align to international best practices has once again enabled FNB Namibia to benefit from the sustainable finance market in a credible way. The transaction showcases the value-add that RMB can provide to Namibian clients and highlights our commitment to driving sustainable economic development in the country, as well as growing the local debt capital markets,” Basson said.

FirstRand Namibia launches N$500 Million Sustainability Note

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Namibian Sun 2025-05-02

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FirstRand Namibia launches N$500 Million Sustainability Note

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Namibian Sun 2025-05-02

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