By: Nghiinomenwa-vali Erastus
Investors in the GC24 bond, which is set to mature this October, have decided to switch their N$530 million investment to other long-term bonds, allowing the government to retain and grow the funds while paying interest twice a year.
This decision was revealed following an auction switch for the GC24 bond conducted on Tuesday by the Bank of Namibia.
As of the end of July 2024, the government owed investors N$1.8 billion through the GC24 bond, which is due for repayment in October 2024.
However, ahead of the bond’s maturity, the government, through the central bank, offers investors the opportunity to switch their investments from the maturing bond to other long-term, internally registered bonds.
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