The Bank Windhoek Sustainability Bond completes N$407 million allocation

On Thursday, 19 September 2024, Bank Windhoek’s Chief Treasurer, Claire Hobbs, announced the release of the Bank’s third annual Sustainability Bond Impact Report, highlighting the ongoing commitment to responsible business practices and environmental stewardship for the 2023-2024 Financial Year.

The Bank Windhoek Sustainability Bond was issued based on the Sustainable Bond Framework, with the first tranche issued in June 2021, raising N$227 million, and the second in December 2021, raising N$180 million. “As a result, a total of N$407 million was raised for the inaugural issuance of the Bank Windhoek Sustainability Bond,” said Hobbs.

The total Sustainability Bond allocation for 2022 was N$124 million. In 2023, the allocation was N$58 million, and in 2024, it was N$225 million. For the 2024 allocations, supported sectors included renewable energy (N$12 million), sustainable water and waste management (N$425,000), agriculture (N$25 million), and clean transportation (N$127,000). Additionally, N$2 million was allocated to sustainable agriculture, with education receiving the largest allocation of N$185 million.

Hobbs noted that this report marks the final edition for the inaugural Bank Windhoek Sustainability Bond issued in 2021. “It highlights the Bank’s contribution to achieving Sustainable Development Goals (SDGs), reducing environmental impact, and promoting social responsibility through its mandate as a financial services provider. The quantitative and qualitative data in this report is based on estimates provided by installers and the Bank’s clients, whom we fund to execute financially feasible projects,” she explained.

Reflecting on the past three years of bond allocation, Hobbs said the journey has been an incredible learning experience for the Bank. She highlighted the significant demand within the Namibian economy for funding dedicated to impact creation and the importance of financial solutions targeting economic, environmental, and community effects. “The Bank Windhoek Sustainability Loan, developed from the funds raised through the Sustainability Bond, has matured into an offering for clients to achieve their sustainability goals and ambitions,” Hobbs added.

Hobbs concluded by inviting readers to explore the full report to learn more about Bank Windhoek’s positive environmental impact and its support of Namibian communities. “Thank you for your ongoing support as we work towards a more sustainable future together,” she said.

The full Bank Windhoek Sustainability Bond Impact Report is available at www.bankwindhoek.com.na.