Bank Windhoek Ltd has announced its successful issuance of the first green bond in Southern African market as it that seeks to fund clean projects and assets.
The bond raised $4.74 million when it was listed on the Namibia Stock Exchange on a private placement basis.
The bond complies with the Sustainable Stock Exchanges Initiative, a UN Partnership Programme of the UN Conference on Trade and Development (UNCTAD), and the UN Global Compact.
The SSE is meant to ensure that market regulators promote responsible investment in sustainable development and advance the performance of corporate companies on issues of environmental and social impact as well as governance.
“As the only 100 per cent locally owned commercial bank in Namibia, Bank Windhoek shares the responsibility to protect our country for future generations by actively contributing to and facilitating the transition to low-carbon and climate resilient economy,” said Baronice Hans, Managing Director of Bank Windhoek.
Claire Hobbs, Chief Treasurer of Bank Windhoek added: “For this reason, the Bank aims to obtain alternative sources of funding for its green lending activities by raising funds in the debt market through a local Green Bond Issuance, of which the proceeds will be used to finance only eligible green projects and assets throughout Namibia.”
