Africa-Press – Angola. The raising of US$64 million through the issuance of Public Debt Bonds to finance the construction and rehabilitation of 43 dams and reservoirs in the province of Namibe was fully subscribed and it will ensure the total financing of the project, according to the Ministry of Finance.
In a note, the ministerial department considers this result as a reflection of the fulfillment of the defined financial objectives, reaffirming the commitment of the Angolan State to the Sustainable Development Goals (SDGs), as well as highlighting the growing maturity of the national capital market.
Therefore, the Ministry of Finance thanks investors for their confidence in the Executive’s agenda and wishes success to the Ministry of Energy and Water and the Provincial Government of Namibe in the implementation of this important initiative for the sustainable development of the country.
The opening of an issue of Public Debt Bonds in the amount of up to US$64 million, within the scope of the operation called “Green and Social Bonds”, with the purpose of financing the construction and rehabs of 43 dams in Namibe, takes place from May 26 to June 4, 2025, a measure that is part of the strategy of promoting the public bonds market of the Ministry of Finance.
The operation was carried out in a “bookbuilding” format, with original maturities of 5 and 8 years, and scheduled to mature on Feb 15, 2029 and Sept 15, 2031, respectively. The bonds issued have capped 5 and 7% interest rates, with coupon payments being made semi-annually.
This initiative is also part of the strategy to raise funds for sustainable projects, focusing on the development of water infrastructures, with a direct impact on the supply of drinking water, agriculture and other economic activities.
Other strategies involve promoting sustainable agriculture, increasing food production and combating food insecurity; contributing to the economic and social development of that province, creating jobs and stimulating the local economy, as well as ensuring environmental sustainability, mitigating the effects of droughts and desertification in the semi-arid region.
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