WINDHOEK, NAMIBIA – Letshego Holdings Namibia Limited (“Letshego Namibia” / “LHN”), a subsidiary of the Pan African inclusive finance entity, has made a significant milestone by listing the Africa Group’s first social bond on the Namibian Stock Exchange (“NSX”).

The Group’s inaugural social listing received total bids worth N$322 million and successfully issued N$260 million three-year senior unsecured notes across five investors. This listing demonstrates Letshego Namibia’s commitment to its social impact strategy and access to a growing pool of social financing globally.

“This listing evidences our commercial purpose to improve lives, while leveraging the opportunity to access a rapidly increasing pool of social financing, globally,” said Dr. Ester Kali, Country Chief Executive of Letshego Namibia. “Social bonds not only introduce Letshego Namibia to an expanded pool of social investors but also deepen stakeholder confidence in our credentials.”

The social bond has been structured in alignment with the International Capital Market Association’s Social Bond Principles, and the proceeds will support Letshego Namibia’s strategy to increase access, reach, and affordability of productive financial solutions for more Namibians.

Letshego Namibia’s social bond listing is a first for the group, and Aupa Monyatsi, Group Chief Executive of Letshego Africa Holding, emphasized the significance of this achievement. “Achieving a tangible social and sustainable impact from our pan-African inclusive financing products and solutions has been intrinsic to Letshego’s 25-year legacy in Africa,” he said. “Sustainability and ESG remain integral proponents across our geographies and business divisions, and core to our inclusive culture and how we do business.”

RMB, a recognized leader in bringing social and green bonds to Namibia and regional stock exchanges, acted as Letshego Namibia’s arranger, dealer, NSX debt sponsor, sustainability advisor, and coordinator. Philip Chapman, Chief Executive Officer for RMB Namibia, noted, “Private sector players are increasingly coming to the fore of solving development challenges. Noting Namibia’s socio-economic challenges, RMB used its wealth of expertise in Sustainable Finance to structure a robust SFF to ensure the utmost social impact in the deal.”