{"id":11182,"date":"2024-05-30T18:18:07","date_gmt":"2024-05-30T18:18:07","guid":{"rendered":"https:\/\/sotnews.agency\/?p=11182"},"modified":"2024-05-31T07:37:55","modified_gmt":"2024-05-31T07:37:55","slug":"letshego-lists-first-bond-on-namibian-stock-exchange","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=11182","title":{"rendered":"Letshego lists first bond on Namibian stock exchange"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>5 Minute, 37 Second <\/div>\n\n <\/div>

Letshego Holdings Namibia Limited has made its debut social bond listing on the Namibian Stock Exchange.<\/p>\n

Letshego Namibia, a subsidiary of Letshego Africa Holdings Limited, is listed in Namibia and is committed to providing inclusive finance solutions to low and middle-income segments, as well as micro-small enterprises.<\/p>\n

The company\u2019s first social listing attracted bids totalling N$322 million and successfully issued N$260 million worth of three-year senior unsecured notes to five investors.<\/p>\n

Since its 2017 Initial Public Offering (IPO), \u2018Ekwafo Letu\u2019 (translating to \u201csupport\u201d in the Oshiwambo language), the Namibian subsidiary tapped into and leveraged the local capital market with various medium-term note programmes. This diversified its funding sources and allowed it to benefit from local currency funding.<\/p>\n

Dr Ester Kali, Letshego Namibia\u2019s Country Chief Executive, celebrated the significant listing by stating, \u201cA social bond listing evidences our commercial purpose to improve lives, while leveraging the opportunity to access a rapidly increasing pool of social financing, globally. Social bonds not only introduce Letshego Namibia to an expanded pool of social investors but also deepen stakeholder confidence in our credentials given industry and listing regulations\u2019 require independent evaluations and approvals of our Social Financing Framework prior to listing.\u201d<\/p>\n

Aupa Monyatsi, Letshego Africa Holding\u2019s Group Chief Executive, added, \u201cAchieving a tangible social and sustainable impact from our pan-African inclusive financing products and solutions has been intrinsic to Letshego\u2019s 25-year legacy in Africa, having first opened our doors in Gaborone, Botswana in 1998.<\/p>\n

Sustainability and ESG remain integral proponents across our geographies and business divisions, and core to our inclusive culture and how we do business. Namibia\u2019s social bond leads the way for other subsidiaries to access the growing pool of social capital and financing vehicles, for the benefit of our strategy, and ultimately our customers, partners and communities.\u201d<\/p>\n

Philip Chapman, Chief Executive Officer for RMB Namibia, stated, \u201cPrivate sector players are increasingly coming to the fore of solving development challenges. Noting Namibia\u2019s socio-economic challenges, RMB used its wealth of expertise in Sustainable Finance to have a structure a robust SFF to ensure the utmost social impact in the deal. We navigated the various complexities coupled with our debt capital markets capabilities to introduce Letshego Namibia\u2019s first-to-market social bond.\u201d<\/p>\n

READ THE FULL STATEMENT BELOW<\/strong><\/p>\n

LETSHEGO LISTS ITS FIRST SOCIAL BOND ON NAMIBIAN STOCK EXCHANGE<\/p>\n

Letshego Holdings Namibia Limited (\u201cLetshego Namibia\u201d \/ \u201cLHN\u201d), a subsidiary of the pan-African inclusive finance entity that has a presence in 11 African markets, is further demonstrating its social impact strategy through the listing of the Africa Group\u2019s first social bond on the Namibian Stock Exchange (\u201cNSX\u201d).<\/p>\n

The Group\u2019s inaugural social listing received total bids to the value of N$322 million (USD 18 million; BWP 239 million) and successfully issued N$260 million (USD 14 million; BWP 193 million) three-year senior unsecured notes across five investors.<\/p>\n

Since its IPO entitled \u2018Ekwafo Letu\u2019 (meaning \u201csupport\u201d in Namibia\u2019s Oshiwambo language) in 2017, the Namibian subsidiary has invested and leveraged the local capital market with various medium-term note programmes, diversifying its funding sources and benefiting from local currency funding.<\/p>\n

Celebrating the landmark listing, Letshego Namibia\u2019s Country Chief Executive, Dr Ester Kali commented, \u201cA social bond listing evidences our commercial purpose to improve lives, while leveraging the opportunity to access a rapidly increasing pool of social financing, globally. Social bonds not only introduce Letshego Namibia to an expanded pool of social investors but also deepen stakeholder confidence in our credentials given industry and listing regulations\u2019 require independent evaluations and approvals of our Social Financing Framework prior to listing.\u201d<\/p>\n

Social bond issuances, by their very nature and intent, need to be guided by local market nuances and anchored by global and local industry guidelines and regulations. Although several regional Letshego subsidiaries already access local capital via bond listings, Letshego Namibia is the first subsidiary to list a social bond, tapping into Africa\u2019s growing social financing opportunities.<\/p>\n

Aupa Monyatsi, Letshego Africa Holding\u2019s Group Chief Executive added, \u201cAchieving a tangible social and sustainable impact from our pan-African inclusive financing products and solutions has been intrinsic to Letshego\u2019s 25-year legacy in Africa, having first opened our doors in Gaborone, Botswana in 1998. Sustainability and ESG remain integral proponents across our geographies and business divisions, and core to our inclusive culture and how we do business. Namibia\u2019s social bond leads the way for other subsidiaries to access the growing pool of social capital and financing vehicles, for the benefit of our strategy, and ultimately our customers, partners and communities.\u201d<\/p>\n

Letshego Namibia\u2019s social bond has been structured in alignment with the International Capital Market Association\u2019s Social Bond Principles. The proceeds of which will support Letshego Namibia\u2019s strategy to increase access, reach and affordability of productive financial solutions for more Namibians as more specifically outlined in Letshego Namibia\u2019s Social Finance Framework (\u201cSSF\u201d). This includes the support of underserved individuals, Micro and Small entrepreneurs and small business owners, with inclusive products like Affordable Housing, Healthcare and Education.<\/p>\n

RMB, a recognised leader in bringing social and green bonds to Namibia and regional stock exchanges, acted as Letshego Namibia\u2019s arranger, dealer, NSX debt sponsor, sustainability advisor and coordinator.<\/p>\n

Philip Chapman, Chief Executive Officer for RMB Namibia added, \u201cPrivate sector players are increasingly coming to the fore of solving development challenges. Noting Namibia\u2019s socio-economic challenges, RMB used its wealth of expertise in Sustainable Finance to have a structure a robust SFF to ensure the utmost social impact in the deal. We navigated the various complexities coupled with our debt capital markets capabilities to introduce Letshego Namibia\u2019s first-to-market social bond.\u201d<\/p>\n

Letshego Namibia is a subsidiary of the proudly African multinational organisation, Letshego Africa Holdings Limited (LAHL), listed in Namibia and focused on delivering inclusive finance solutions to the low and middle income segments, as well as micro-small enterprises (MSME\u2019s). In 2023, Letshego Namibia was recognised as the Best Locally Listed Company at the prestigious Namibia Top Company Awards organised by Cirrus Capital. With a staff compliment of over 200 employees \u2013 including both direct and indirect sales agents \u2013 and more than sixty thousand customers, Letshego Namibia is synonymous with leveraging innovation and technology to improve the lives of individuals who have limited access to traditional financial services.<\/p>\n

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The post Letshego lists first bond on Namibian stock exchange<\/a> appeared first on Citinewsroom – Comprehensive News in Ghana<\/a>.<\/p>

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Letshego Holdings Namibia Limited has made its debut social bond listing on the Namibian Stock Exchange. Letshego Namibia, a subsidiary of Letshego Africa Holdings Limited, is listed in Namibia and… <\/p>\n","protected":false},"author":1,"featured_media":11234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-11182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/11182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11182"}],"version-history":[{"count":1,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/11182\/revisions"}],"predecessor-version":[{"id":11235,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/11182\/revisions\/11235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/11234"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}